The EUR/USD holds firm during the North American session on Tuesday, with traders still digesting the latest employment figures in the United States (US) and the release of further US data. Across the pond, HCOB Flash PMI numbers were mixed across the European Union (EU) yet failed to push the Euro higher against the US Dollar. At the time of writing, the pair trades at 1.1573, unchanged. Further developments, during the session, revealed that US President Donald Trump was considering nominating the US Treasury Secretary Scott Bessent to the vacant spot on the Federal Reserve, following...
Oil prices held a four-day decline as investors shrugged off President Donald Trump's threat to impose secondary tariffs on Russian energy buyers, while US data pointed to weaker conditions in the world's largest economy. West Texas Intermediate crude traded near $65 a barrel after falling nearly 7% over four sessions, while Brent closed below $68. Trump hinted at higher tariffs on countries buying oil from Moscow possibly including China after saying he would raise levies on Indian exports within 24 hours. US special envoy Steve Witkoff is expected to travel to Russia to meet with...
Gold held its longest streak of gains since February, boosted by fears of a US economic slowdown that have increased haven demand, along with traders' bets on lower interest rates. Bullion was steady at around $3,383 an ounce in early Asian trading, after gaining more than 3% over the previous four trading sessions. In the US, the latest sign of tariff-inflicted damage on the economy came from data that showed the services sector effectively stagnated in July. Other figures last week highlighted a weak labor market and consumer spending. Signs of...
The Japanese Yen (JPY) oscillated within a range against the US currency during the Asian session on Wednesday (August 6th), moving little following the release of less-than-impressive macro data. Japan's inflation-adjusted real wages fell for the sixth consecutive month in June, fueling concerns about a consumption-driven recovery. This occurred amid domestic political uncertainty and dampened speculation of an imminent interest rate hike by the Bank of Japan (BoJ). Furthermore, signs of stability in the equity market have hampered the JPY's safe-haven stance. Meanwhile, the BoJ revised...
The US Dollar Index (DXY), a measure of the value of the US dollar (USD) against a basket of six global currencies, traded slightly higher near 98.80 during Asian trading hours on Wednesday (August 6th). Traders are preparing for speeches from Federal Reserve (Fed) policymakers, including Susan Collins, Lisa Cook, and Mary Daly, later this month. The DXY remained strong as traders continue to assess global trade developments, which could trigger renewed market volatility. US President Donald Trump's latest trade deadline also falls on Friday, when a new round of high tariffs will take...