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...
The USD/CHF pair weakened to around 0.8830 during the Asian trading hours on Tuesday (3/25), pressured by a decline in the US Dollar (USD). Traders will keep an eye on the US Conference Board's Consumer Confidence gauge, New Home Sales, and the Richmond Fed Manufacturing Index, due on Tuesday. Data released by S&P Global on Monday showed that the US Composite PMI rose to 53.5 (preliminary) in March from 51.6 in February. Meanwhile, the Manufacturing PMI fell to 49.8 in March compared to 52.7 previously, missing the estimate of 51.9. The Services PMI improved to 54.3 in March from 51.0...
Oil prices fell more than 1.5% on Monday as investors once again focused on concerns U.S. tariffs on its trading partners will create economic headwinds that will reduce fuel demand growth. Brent crude futures slipped $1.10, or 1.6%, to $66.86 a barrel at 0255 GMT after closing up 3.2% on Thursday. U.S. West Texas Intermediate crude was at $63.57 a barrel, down $1.11, or 1.7%, after settling up 3.54% in the previous session. Thursday was the last settlement day last week because of the Good Friday holiday. "The broader trend remains tilted to the downside, as investors may struggle to find...
The U.S. dollar was mostly lower against major currencies, including the yen and the euro, on Monday as markets weighed continued uncertainty from President Donald Trump's policies and their impact on the economy. The greenback slid to a fresh record low against the Taiwan dollar to 28.8150 amid speculation that Taiwan was letting its currency appreciate as part of a trade deal with the U.S., or at least was unwilling to intervene to stop it rising alongside sharp inflows in capital. Trump doubled down on tariff-driven policies during an interview on Sunday, reiterating that the duties on...