The Australian Dollar (AUD) extends its losses for the third consecutive day against the US Dollar (USD), with the AUD/USD pair holding losses following mixed economic data released on Thursday. Traders are now focused on Friday's US Nonfarm Payroll (NFP) report, for additional policy direction insights. Australia's trade surplus rose to 7,079 million in November, surpassing the expected 5,750 million and the previous reading of 5,670 million (revised from 5,953 million). Exports increased by 4.8% month-on-month (MoM) in November, up from 3.5% (revised from 3.6%) in October. Meanwhile,...
The Japanese Yen (JPY) gains some positive traction following the release of stronger wage growth data from Japan earlier this Thursday and for now, seems to have snapped a three-day losing streak against its American counterpart. Moreover, talks that large Japanese firms are likely to increase wages by about 5% on average in 2025 and broadening inflationary pressures back the case for another rate hike by the Bank of Japan (BoJ). Apart from this, the cautious market mood, persistent geopolitical risks and concerns about US President-elect Donald Trump's tariff plans underpin the safe-haven...
Silver price (XAG/USD) continues its upward momentum, rising for the sixth consecutive day to trade near $30.10 per troy ounce, close to three-week highs during Thursday's Asian session. The precious metal, often considered a safe-haven asset, gains support amid uncertainty surrounding inflation and potential tariffs under President-elect Trump's administration, as highlighted by the US Federal Reserve (Fed).In addition, robust growth in 2024 has boosted industrial demand for Silver, which is on track to surpass 700 million ounces (Moz) for the first time. This surge is driven by its...
Gold price (XAU/USD) drifts lower during the Asian session on Thursday and moves away from a four-week top, around the $2,670 area touched the previous day. The US Dollar (USD) stands firm near a two-year peak touched last week in the wake of the Federal Reserve's (Fed) hawkish shift, which, in turn, is seen as a key factor undermining the non-yielding yellow metal. In fact, the Fed indicated that it would slow the pace of interest rate cuts in 2025 amid a still resilient US economy, signs that the US labor market remained robust and sticky inflation. That said, concerns about US...
The EUR/USD pair trades in negative territory for the third consecutive day around 1.0310 during the early European session on Thursday. The downbeat German November Factory Orders and the expectation of aggressive rate cuts by the European Central Bank (ECB) this year weigh on the Euro (EUR) against the Greenback. Later on Thursday, the Eurozone Retail Sales for November and the Fedspeak will be in focus. German Factory Orders sank lower unexpectedly in November, with the figure falling by 5.4% MoM in November, compared to a decline of 1.5% in the previous reading, the Federal Statistics...