The USD/CHF pair traded on a weaker note around 0.9040 during the early European trading hours on Tuesday (1/7). The US dollar (USD) weakened amid confusion over President-elect Donald Trump's tariff plans. Investors will be watching how aggressive Trump's policies will be once he takes office. On Tuesday, the preliminary reading of the Eurozone Harmonized Index of Consumer Prices (HICP) for December will be released. However, the cautious stance of US Federal Reserve (Fed) officials could help limit the USD's losses. Fed Governor Lisa Cook said on Monday that Fed policymakers could be more...
The U.S. dollar fell on Tuesday, nearing a one-week low following a report that President-elect Donald Trump's tariffs could be less aggressive, while the euro strengthened ahead of key inflation data. At 4:25 a.m. ET (09:25 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.3% lower at 107.775, after falling overnight to its weakest since Dec. 30. Dollar remains weaker The dollar has weakened since the Washington Post published a report on Monday that the new Trump administration is exploring plans to limit tariffs on sectors deemed...
Gold edged higher on a weaker dollar as traders weighed risks to global trade after President-elect Donald Trump denied reports that he might moderate his broad tariff plans. Bullion traded above $2,640 an ounce, after ending lower in the previous two sessions. Uncertainty about the much-anticipated U.S. move helped lift the 10-year Treasury yield to its highest since May on Monday, while the dollar fell. The precious metal typically faces headwinds from higher yields but support from a weaker U.S. currency. "Gold is seen consolidating in a range, but is likely to trade with a positive...
Oil prices edged lower on Tuesday as optimism over demand faded, although tighter Russian and Iranian supplies driven by expanded Western sanctions curbed losses. Brent crude futures were down 25 cents, or 0.33%, at $76.05 a barrel by 0950 GMT, while U.S. West Texas Intermediate (WTI) crude was down 44 cents, or 0.60%, at $73.12. Both benchmarks fell on Monday, after rising for five straight days last week and ending at their highest levels since October on Friday amid expectations of more fiscal stimulus to revitalize China's faltering economy. "This week's weakness is likely a technical...
Gold prices trimmed earlier gains, trading below $2,650 per ounce on Tuesday after a 1% rise earlier in the session. The strengthening dollar and rising Treasury yields pressured gold as U.S. job openings indicated lower chances of significant rate cuts by the Federal Reserve. Stronger-than-expected job openings and solid services sector data pointed to a resilient economy, likely keeping the Fed cautious about easing rates. The dollar rebounded from a one-week low, further weighing on gold, which typically benefits from lower interest rates. Investor concerns that proposed U.S. tariffs...