Gold inched higher on Tuesday, ahead of the release of U.S. inflation data later in the day that could shed more light on the Federal Reserve's interest rate path. Spot gold was up 0.1% at $3,346.94 per ounce, as of 0151 GMT. U.S. gold futures were flat at $3,355.60. "Gold has shown in the past that it is an asset of choice when tariff tensions are ratcheted up, and the precious metal's move towards $3,350 is evidence of this pattern playing out again," KCM Trade Chief Market Analyst Tim Waterer said. "However, higher treasury yields and USD appreciation have created headwinds...For gold...
The GBP/USD pair consolidates near the 1.3430-1.3435 region, just above a three-week low touched during the Asian session on Tuesday as traders keenly await the release of the US consumer inflation figure. Meanwhile, the fundamental backdrop seems tilted in favor of bears and suggests that the path of least resistance for spot prices is to the downside. The disappointing macro data released from the UK last week reinforced bets that the Bank of England (BoE) could cut interest rates again in August. This marks a significant divergence in comparison to diminishing odds for an immediate rate...
The USD/CHF pair trades on a negative note near 0.7965 during the early European session on Tuesday. Persistent trade-related uncertainties and geopolitical risks boost the safe-haven flows, supporting the Swiss Franc (CHF). The US consumer inflation figures will take center stage later on Tuesday. Bloomberg reported late Monday that US President Donald Trump threatened to impose 100% tariffs on Russia if President Vladimir Putin does not agree to a deal to end his invasion of Ukraine in 50 days. Trump further stated that the levies would come in the form of secondary tariffs, without...
Oil prices fell on Tuesday after U.S. President Donald Trump's lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns. Brent crude futures fell 29 cents, or 0.4%, to $68.92 a barrel by 0342 GMT, while U.S. West Texas Intermediate crude futures fell 35 cents, or 0.5%, to $66.63. Both contracts settled more than $1 lower in the previous session. "Trump's milder stance on sanctions over Russian oil eased fears of a supply crunch while his tariff plan continues to mount economic pressures," said Priyanka Sachdeva, senior market analyst at...
The dollar traded in a tight range ahead of key US inflation data that may influence monetary policy and shape discussions around Federal Reserve leadership. The Bloomberg Dollar Spot Index edged down 0.1% Dollar-yen was sold on fix flows and in view of Japan's 10-year government bond yield touching the highest level since 2008, according to an Asia-based FX trader Commodity currencies edged higher after data show China's economic growth exceeded expectations in the second quarter, with gross domestic product expanding 5.2% in April-June from a year...