West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.10 during the early Asian session on Thursday. The WTI price falls as US President Donald Trump called Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy to discuss ending the war in Ukraine. Trump discussed the war in Ukraine in phone calls with Putin and Zelenskiy. Trump claimed he and Putin had agreed to have their respective teams start negotiations immediately, and they will begin by calling Zelenskiy to inform him of the conversation. "Trump doing peace talks, I think that has...
Gold price recovered some ground late during Wednesday's North American session. Federal Reserve (Fed) Chair Jerome Powell said that policy needs to remain restrictive as inflationary pressures mount and United States (US) President Donald Trump's tariff threats intensify. XAU/USD trades at $2,897, virtually unchanged. The non-yielding metal halted its downtrend after the US Bureau of Labor Statistics (BLS) revealed that inflation jumped above 3% in the United States, suggesting that the Fed's pause on its easing cycle could be longer thanLast week, the December fed funds rate futures...
The dollar held steady against a range of currencies on Wednesday while the yen strengthened, as traders focused on talks over a Ukraine ceasefire and digested the latest round of tariff threats from U.S. President Donald Trump.The pound, meanwhile, got a small lift from a stronger-than-expected UK inflation print.The dollar index last stood at 107.06, up 0.047% after dropping 1.2% last week. The yen was stronger against the dollar , up 0.24% at 151.675.Source: Reuters
The US Dollar Index (DXY), which tracks the US Dollar (USD) against six major currencies, extends its winning streak for a third consecutive day amid improved Treasury yields. The DXY is trading near 104.00 with 2- and 10-year yields on US Treasury bonds standing at 3.96% and 4.29%, respectively, during Asian hours on Friday. The Greenback strengthened after better-than-expected jobless claims and weaker-than-anticipated Producer Price Index (PPI) data released on Thursday. Traders now await the preliminary Michigan Consumer Sentiment Index for March, set for release in the North American...
Gold (XAU/USD) prices had earlier hit an all-time high of $3,004, before falling back below $3,000, still posting a weekly gain of over 2.5% for now at the time of writing on Friday (3/14). The inflow and additional demand for Bullion came after US President Donald Trump retaliated against European tariffs, saying he would impose a 200% tariff on wine and champagne from the region. This has spooked market participants into believing that all bets are off and that US President Trump will not back down or ease his stance on tariffs, raising more concerns about growth and demand for riskier...