The USD/CHF pair demonstrates strength near its over two-week high around 0.8000 during Friday's late Asian session, posted on Thursday. The Swiss Franc pair gained sharply on Thursday as the US Dollar (USD) extended its upside, following the release of the upbeat revised United States (US) Q2 Gross Domestic Product (GDP) and a decline in Initial Jobless Claims for the week ending September 20. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, holds onto gains near the four-week high around 98.60. On Thursday, revised Q2 GDP data showed that the...
Silver slipped below $45 per ounce on Friday, easing from 14-year highs as the dollar strengthened following upbeat US data that tempered bets for deeper Federal Reserve rate cuts. Thursday's reports showed weekly jobless claims fell to 218K, highlighting labor market resilience, while second-quarter GDP growth was revised sharply higher to an annualized 3.8%, the fastest in nearly two years. Markets still expect a quarter-point Fed cut in October, though easing priced in for the year has narrowed to 39 basis points from about 43 earlier this week. Despite the pullback, silver remains up...
EUR/USD is posting moderate gains on Friday, trading near 1.1675 at the time of writing on Friday from 1.1645 daily lows, but remains on track for a 0.55% weekly decline. In the United States (US), a batch of upbeat macroeconomic figures eased concerns about an economic downturn on Thursday, while in Europe, data have been uninspiring this week. To make matters worse, US President Donald Trump rattled markets with a new round of tariffs. Data from the US Bureau of Economic Analysis revealed that the Gross Domestic Product (GDP) grew at a stronger pace than previously estimated in the second...
The data helped boost USD-supportive spreads and pare expectations around Fed easing risks over the balance of the year. A dose of geo-political worries added some further support to the USD at the margin. The USD has steadied in overnight trade but, at this point, it is looking at a fairly solid gain on the week following last week's rejection of the low 96 area. A new round of hefty tariffs (pharma, heavy trucks, household goods) announced by the White House has failed to move markets materially." "European stocks are mostly firmer and while the pharma sector is underperforming, it is...
Oil prices were steady on Friday, on track for a more than 4% weekly gain, as Ukraine's attacks on Russia's energy infrastructure prompted Moscow to curb fuel exports. Brent futures lost 3 cents to $69.39 a barrel by 1146 GMT while U.S. West Texas Intermediate (WTI) crude was down 6 cents at $64.92 a barrel. "The geopolitical risk premium, which has been steadily building over the last two months as Ukrainian drone strikes intensified, has now materialised into an actual supply shortage, much to the detriment of Europe, which is structurally short of distillates," said PVM analyst Tamas...