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...
Gold rose as the dollar gave up short-lived gains from a court ruling that struck down President Donald Trump's global tariff agenda. Bullion rose as much as 1.3%, erasing losses suffered during a brief rally in the U.S. currency as a weaker dollar made the precious metal more attractive to buyers in other countries. The dollar gauge fell 0.4%. The dollar initially gained after the U.S. Court of International Trade ruled that many of Trump's tariffs were illegal. But strategists warn that there are many alternative routes the president can take to ensure his signature economic policies are...
Gold prices remain bid during the North American session as breaking news revealed Iran's attack on US bases in Qatar, in retaliation for the over-the-weekend attack on Iran's nuclear installations by the White House. Meanwhile, US economic data was overlooked mainly as geopolitical tensions in the Middle East intensified. At the time of writing, XAU/USD trades at $3,385, up 0.39%. Macroeconomic data has been pushed aside as geopolitics grabs most headlines. Iran reported the launch of missiles at US bases in Qatar, Kuwait and Iraq, according to Al Arabiya, citing Israeli media. Alongside...
The dollar strengthened against European currencies on Wednesday ahead of a highly anticipated reading on U.S. inflation, also boosted by a Reuters report that China is considering allowing a weaker currency next year, which has caused the yuan and other Asian currencies to weaken The euro was last down 0.18% at $1.0508, a day before a European Central Bank meeting, and the pound fell 0.16% to $1.2752 as traders awaited U.S. CPI data, due at 1330 GMT. Economists expect headline and core consumer prices to rise 0.3% in November from previous increases of 0.2% and 0.3%,...