The dollar continued its decline on Tuesday (September 30th), falling for a third straight day. Most G-10 currencies strengthened, with the Norwegian krone and Canadian dollar lagging amid a crude oil selloff. The Bloomberg Dollar Spot Index fell more than 0.1%, for a total decline of about 0.7% over the past three sessions. USD/JPY fell for a third day to 147.99, down 1.2% overall. EUR/USD rose 0.1% to 1.1741, rising for a third session. German Inflation Exceeded Expectations, Supporting Caution on Interest Rates. GBP/USD rose 0.1% to 1.344. USD/CAD edged higher to 1.3919, its first gain...
Gold (XAU/USD) trims earlier losses on Tuesday, trading around $3,847 at the time of writing. The metal is regaining ground after dipping toward the $3,800 mark earlier in the day, recovering from a sharp intraday pullback from a fresh all-time high near $3,871, as buyers stepped back in following softer US Consumer Confidence data and a muted reaction to the latest JOLTS Job Openings report. Despite the sharp intraday drop, Bullion's near-term floor appears firm, supported by investor demand for safe havens amid the growing risk of a United States (US) government shutdown, should lawmakers...
Oil prices slipped on Tuesday as investors braced for a supply surplus due to potential OPEC+ plans for a larger output hike next month and the resumption of oil exports from Iraq's Kurdistan region via Turkey. Brent crude futures for November delivery, expiring on Tuesday, fell 87 cents, or 1.3%, to $67.10 a barrel by 1:22 p.m. EDT (1722 GMT). The more active December contract fell 82 cents or 1.2% to $66.27. U.S. West Texas Intermediate crude was $62.61 a barrel, down 84 cents, or 1.3%. On Monday, Brent and WTI both settled more than 3% lower, their sharpest daily declines since August...
Gold climbs during the North American session on Tuesday yet remains below the record high hit in the Asian session of $3,871. Amid fears of a US government shutdown, jobs data reaffirmed expectations of rate cuts by the Federal Reserve (Fed). XAU/USD trades at $3,846, up 0.35%. Bullion steadies as US Dollar weakness underpins safe-haven demandThe latest Job Openings and Labor Turnover Survey (JOLTS) revealed by the Bureau of Labor Statistics (BLS) showed that US vacancies increased slightly but exceeded estimates. Meanwhile, the Conference Board's Consumer Confidence showed that Americans...
The Japanese Yen (JPY) gains traction against the US Dollar (USD) on Tuesday, with USD/JPY extending losses for a third straight day as the looming United States (US) government shutdown weighs on the Greenback and bolsters safe-haven demand for the Yen. At the time of writing, the pair is trading near 147.85, down nearly 0.5% on the day. Investors largely shrugged off Japan's weak economic activity data released earlier in the day, instead turning their attention to the political gridlock in Washington. US President Donald Trump, speaking at the White House on Tuesday, warned that "we'll...