The Australian dollar (AUD) remained weak against the US dollar (USD) on Wednesday (1/22). The AUD/USD pair faced headwinds as US President Donald Trump announced that his administration is considering imposing a 10% tariff on Chinese imports starting February 1. The move is reportedly related to concerns over fentanyl shipments from China to Mexico and Canada, according to Reuters. Trump said earlier, "If we make a TikTok deal and China doesn't agree to it, we could probably put tariffs on China." The comments followed the signing of an executive order that delayed the TikTok ban for 75...
Gold rose near $2,750 an ounce on Wednesday (22/1), extending gains of more than 1% from the previous session to hit its highest since early November. The precious metal was supported by a relatively weaker U.S. dollar and increased demand for safe-haven assets, as trade war concerns persisted following President Trump's announcement of potential tariffs. Trump vowed to impose tariffs on the European Union and reiterated his consideration of 10% tariffs on China, following earlier remarks about the prospect of imposing hefty levies on Canada and Mexico. Meanwhile, traders continued to...
Silver (XAG/USD) price extended its rally for the third straight session, trading around $30.80 per troy ounce during the Asian trading hours on Wednesday (1/22). The daily chart analysis shows a bullish bias prevailing for the precious metal, as its price continues to rise within an ascending channel pattern. The short-term momentum is strong, with the XAG/USD pair trading above the nine-day and 14-day Exponential Moving Averages (EMA). Moreover, the 14-day Relative Strength Index (RSI) is positioned above the 50-level, reinforcing the active bullish sentiment. On the upside, Silver price...
Gold (XAU/USD) extended its uptrend for the third straight day on Wednesday (22/1) and climbed beyond the $2,750 level, hitting its highest level since early November during the Asian session. US President Donald Trump's tariff threats turned out to be the key factor driving flows towards the safe haven metal. Adding to this, bets that the Federal Reserve (Fed) will cut interest rates twice this year lent support to the non-yielding yellow metal. Meanwhile, the intraday positive move seemed largely unaffected by the prevailing risk sentiment. Even a modest uptick in the US Treasury bond...
The USD/CHF pair rebounded to around 0.9070, ending a two-day losing streak during early European trading hours on Wednesday (1/22). The pair's gains were supported by a generally stronger US Dollar (USD) after US President Donald Trump said on Tuesday that he would impose tariffs and duties on trading partners. On Tuesday evening, Trump said that his team was discussing 25% tariffs on Canada and Mexico, as well as duties on China and the European Union. Trump added that the measures could come into effect as early as February 1. "We're talking about a 10% tariff on China based on the fact...