AUD/USD firms as traders brace for Australia Q3 inflation data and Fed decision The Australian Dollar (AUD) edges higher against the US Dollar (USD) on Tuesday, extending its winning streak for the fifth consecutive session as the Greenback stays under pressure ahead of the Federal Reserve's (Fed) interest rate decision on Wednesday. At the time of writing, AUD/USD trades around 0.6586, up nearly 0.5% on the day and marking its highest level in over two weeks. Traders are turning their attention to key Australian inflation data due early Wednesday, which could shape expectations for the...
Oil prices slipped about 2% on Tuesday, marking a third straight day of declines as investors considered the impact of U.S. sanctions against Russia's two biggest oil companies on global supply, along with a potential OPEC+ plan to raise output. Brent crude futures settled down $1.22, or 1.9%, to $64.40 a barrel. U.S. West Texas Intermediate crude futures settled down $1.16, or 1.9%, at $60.15. Brent and WTI last week registered their biggest weekly gains since June, reacting to U.S. President Donald Trump's decision to impose Ukraine-related sanctions on Russia for the first time in his...
AU/USD drops 0.63% to $3,955 after rebounding from three-week lows under $3,900 Gold price drops 0.63% on Tuesday during the North American session with the yellow metal suffering from its safe-haven appeal as hopes of a de-escalation of the US-China trade war keep ebbs and flows going toward riskier assets like US equities. At the time of writing, XAU/USD trades at $3,955, after bouncing off three-week lows beneath $3,900. The US-China trade war seems to be fading following last week's meeting between senior officials in Malaysia. Discussions about tariffs, shipping fees, fentanyl and...
Gold prices began to stabilize on Wednesday after three consecutive days of decline. The precious metal was trading around $3,950 per ounce, ahead of a crucial meeting between US President Donald Trump and Chinese President Xi Jinping. The market is optimistic due to hopes for a breakthrough in US-China trade. There's even news that the US is ready to lift some tariffs if China takes a firmer stance on the export of chemicals used to make fentanyl. This sentiment has made investors more willing to invest in riskier assets, not just gold. Previously, gold had gone on a rampage, soaring to a...
Oil held a three-day drop as investors assessed the impact of Western sanctions against leading Russian crude producers alongside a mixed industry estimate of US inventory changes. West Texas Intermediate was steady near $60 a barrel after falling by almost 3% over the prior three sessions, while Brent closed above $64. US President Donald Trump will follow through and enforce harsh new sanctions against Moscow to pressure Vladimir Putin into negotiations to end the war in Ukraine, according to Matthew Whitaker, the US ambassador to NATO. Meanwhile, the US industry report...