The yen strengthened to around 146.8 per dollar on Monday, recovering losses from the previous session as the greenback stayed under pressure from expectations of Federal Reserve rate cuts. Traders are also awaiting a series of US labor market releases this week that could shape the Fed's next move. In Japan, data showed capital spending rose 7.6% in Q2 2025, accelerating from 6.4% in the prior quarter and topping forecasts of 6.2%. Meanwhile, the August manufacturing PMI was revised down to 49.7 from 49.9, marking the 13th contraction in factory activity over the past 14 months. Markets...
Gold prices climbed toward $3,480 per ounce on Monday, nearing a record high as investors weighed the future of the Federal Reserve and uncertainty over US President Donald Trump's tariffs. A hearing on Trump's move to fire Fed Governor Lisa Cook ended Friday without a decision, and a ruling is not expected to arrive before at least Tuesday. At the same time, a federal appeals court ruled that Trump's global tariffs were illegally imposed under an emergency law, upholding a May ruling by the Court of International Trade. But these tariffs will be allowed to persist until October 14, giving...
Oil prices fell in Asian trading on Monday after recording monthly losses for August, as investors discounted the risk of immediate supply disruptions from potential secondary sanctions on Russian crude and focused on fresh Chinese factory data for demand signals. As of 23:01 ET (03:01 GMT), Brent Oil Futures expiring in October fell 0.4% to $67.21 per barrel, while West Texas Intermediate (WTI) crude futures also declined 0.4% to $63.78 per barrel. Both contracts dropped more than 7% in August, dragged by supply glut fears from steady OPEC+ production hikes. Markets shrug off...
The EUR/USD pair trades on a stronger note near 1.1705 during the Asian trading hours on Monday. The rising rate cut expectation from the US Federal Reserve (Fed) continues to weigh on the Greenback against the Euro (EUR). Later on Monday, the European Central Bank (ECB) President Christine Lagarde is scheduled to speak. The Personal Consumption Expenditures (PCE) Price Index came in line with the expectations in July, according to the US Bureau of Economic Analysis. The headline PCE rose 2.6% YoY in July, while core PCE, which excludes the more volatile food and energy, climbed 2.9% in the...
The GBP/USD pair edges higher to near 1.3520 during the early European session on Monday. The growing prospect that the Federal Reserve (Fed) will lower borrowing costs at least twice by the end of this year undermines the US Dollar (USD) against the Pound Steerling (GBP). Technically, the constructive outlook of GBP/USD remains in play, with the price being well-supported above the key 100-day Exponential Moving Average (EMA) on the daily chart. The upward momentum is reinforced by the 14-day Relative Strength Index (RSI) that stands above the...