The US dollar weakened in trading on Monday (September 15th), as investors remained cautious ahead of a crucial week filled with central bank decisions, particularly from the Federal Reserve (The Fed). The Dollar Index (DXY), which measures the greenback's performance against six major currencies, fell slightly after previously strengthening. Market participants are now focusing on this week's Federal Open Market Committee (FOMC) meeting. Expectations are strong that the Fed will cut interest rates by 25 basis points, a move deemed necessary to stimulate economic growth amid signs of a...
Gold prices (XAU/USD) started the week cautiously, continuing their sideways trend late last week after briefly touching a record high near $3,675 on Tuesday. This movement reflects a lack of strong buying confidence, as market participants held back ahead of a busy week of central bank decisions.As of this writing, gold was trading around $3,657 (up 0.37% daily) after bouncing from $3,626. The $3,650 area remains short-term resistance, so prices are likely to consolidate within a narrow range.The main focus is the Fed's decision on Wednesday. The market is pricing in a 25 bps cut, with a...
Oil prices rose on Monday (September 15th) as investors assessed the impact of Ukrainian drone attacks on Russian refineries and U.S. President Donald Trump's call for NATO countries to halt purchases of Russian oil. Brent crude rose 41 cents, or 0.61%, to $67.40 a barrel at 11:43 a.m. EDT (15:43 GMT), while U.S. West Texas Intermediate crude was at $63.25 a barrel, up 56 cents, or 0.89%. The attack on Russian oil infrastructure and increased pressure from Trump on buyers of Russian crude boosted oil prices on Monday, said Phil Flynn, senior analyst at Price Futures Group. "Behind the...
Gold rose to a new a record high as traders geared up for an anticipated easing of the US Federal Reserve's monetary policy this week and looked for clues on further rate cuts this year. Bullion traded above $3,682 an ounce on Monday, after gaining for four consecutive weeks. Investors see a quarter-point cut this week, following signs of labor market weakness. Swaps also price in at least another reduction before the end of the year, with a high probability of a third one. That expectation has driven Treasury yields to the lowest level in months and weakened the...
Oil prices rose on Monday as investors assessed the impact of Ukrainian drone attacks on Russian oil refineries and U.S. President Donald Trump's call for NATO countries to halt purchases of Russian oil. Brent crude futures closed up 45 cents, or 0.67%, at $67.44 a barrel, while U.S. West Texas Intermediate crude closed up 61 cents, or 0.97%, at $63.30 a barrel. The attack on Russian oil infrastructure and Trump's increasing pressure on buyers of Russian crude boosted oil prices on Monday, said Phil Flynn, senior analyst at Price Futures Group. "Behind the scenes, there are a lot of...