The dollar index rose above 108.3 on Monday, extending its gains for a third consecutive session as new tariff threats from US President Donald Trump fueled concerns about inflation, potentially limiting the scope for rate cuts. Late on Sunday, Trump announced a blanket 25% tariff on all steel and aluminum imports, set to take effect later today, along with additional tariffs to be revealed on Tuesday or Wednesday. This announcement coincided with China's retaliatory tariffs on select US exports, set to take effect today. Meanwhile, German Chancellor Olaf Scholz stated that the EU was...
GBP/USD softens to around 1.2390 in Monday's Asian session, losing 0.14% on the day. Trump said he will announce reciprocal tariffs on many countries this week.BoE's Bailey reiterated that a "gradual and careful approach to monetary policy remains appropriate."The GBP/USD pair weakens to near 1.239 during the Asian trading hours on Monday. The US Dollar climbs after US President Donald Trump promised reciprocal tariffs. The release of the US Consumer Price Index (CPI) for January will take center stage later on Wednesday. Trump said on Friday that he would announce reciprocal tariffs on...
Oil prices ticked higher on Monday even as investors weighed U.S. President Donald Trump's latest tariff threat, this time on all steel and aluminium imports, which could dampen global economic growth and energy demand. Brent crude futures climbed 40 cents, or 0.5%, to $75.06 a barrel by 0133 GMT while U.S. West Texas Intermediate crude was at $71.38 a barrel, up 38 cents, or 0.5%. The market posted its third consecutive weekly decline last week on concerns about a global trade war. Trump said he will announce on Monday 25% tariffs on all steel and aluminium imports into the U.S. in...
The Australian Dollar loses ground as Trump announces plans to impose a 25% tariff on all steel and aluminum imports.The AUD faced challenges as China's retaliatory tariffs on certain US exports have come into effect.The US Dollar received support as January's job report reinforced the cautious mood surrounding the Fed's policy outlook.The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) for the third consecutive day on Monday, weighed down by escalating trade war concerns. The AUD/USD pair faces downward momentum after US President Donald Trump, speaking aboard Air...
Gold price continues to attract safe-haven flows amid persistent worries about Trump's trade tariffs.Mostly upbeat US jobs data and inflationary concerns could allow the Fed to hold interest rates steady.A modest US Dollar strength might further contribute to capping the upside for the XAU/USD pair. Gold price (XAU/USD) kicks off the new week on a positive note and remains well within striking distance of the all-time high touched on Friday amid persistent worries about US President Donald Trump's trade policies. In fact, Trump said on Sunday that he will announce new 25% tariffs on all...