The euro (EUR) dropped in the news because of uniform tariffs. Treasury Secretary Scott Bessent supports uniform duties on US imports, starting at 2.5 percent, according to FT, but Trump stated that he wants tariffs "far bigger" than 2.5 percent. This puts the tariff issue back on the table and should keep EUR bulls in check for the time being. According to OCBC's...
Wednesday's first half of the European session saw the gold price (XAU/USD) maintain its bullish bias for the third day in a row, trading close to its highest level since November 1. One of the main reasons why haven flows into the precious metal are still occurring is the uncertainty surrounding US President Donald Trump's trade policy. In addition, the...
In Tuesday's North American session, EUR/USD bounces back from early losses and reaches close to 1.0540. After a shaky start, the main currency pair recovers as the US dollar (USD) gives up its daily gains.
In the early Asian session, the US Dollar Index (DXY), which compares the value of the US dollar to six major currencies, began the day strongly and rose to...
Today, the price of gold (XAU/USD) is trading at $2,735 and is almost stable for the day after recovering a significant portion of its losses from the Asian session to a low of more than one week. The demand for safe haven assets resulting from the fiercely disputed US presidential election and the possibility of a further escalation of Middle Eastern geopolitical...
Wednesday saw the gold price (XAU/USD) rise for the second day in a row, as it reached a one-and-a-half-week high in the $2,670 range during the Asian session. In light of the current Middle East wars and other geopolitical uncertainties, the risk-off impulse is viewed as a crucial element providing some support to the safe-haven precious metal.
The price of gold...
The EUR/USD pair begins the week on a calm note, consolidating its steep losses from the previous week to touch its lowest point since mid-August following the positive US employment report on Friday. Spot prices are presently trading around the 1.0975 area and appear susceptible to continuing the significant decline that has recently occurred from a 14-month...
On Wednesday, the Japanese Yen (JPY) weakens relative to the US Dollar (USD) due to increasing uncertainty about future interest rate increases by the Bank of Japan (BoJ). There are no urgent plans for more rate hikes, according to the BoJ's Summary of Opinions from the September Monetary Policy Meeting, which was released on Tuesday. The central bank plans to...
Tuesday's gold price (XAU/USD) draws buyers for the fourth day in a row and reaches a new all-time high in the $2,640 range during the Asian session. After a massive rate cut last week, expectations for a more aggressive policy easing by the Federal Reserve (Fed) do not help the US Dollar (USD) draw significant buyers or serve as a tailwind for the non-yielding...
USD/JPY continues to decline for the fifth consecutive day, trading around 140.30 during the Asian session on Monday. An analysis of the daily chart showed the USD/JPY pair moves downward within a descending channel, indicating a confirmed bearish bias.
Furthermore, there is a downward momentum in the asset's price as indicated by the 72-day Exponential Moving...
USD/JPY continues to decline for the fifth consecutive day, trading around 140.30 during the Asian session on Monday. An analysis of the daily chart showed the USD/JPY pair moves downward within a descending channel, indicating a confirmed bearish bias.
Furthermore, there is a downward momentum in the asset's price as indicated by the 72-day Exponential Moving...
On Wednesday, gold (XAU/USD) trades at slightly over $2,500 after declining as a result of the US Dollar's (USD) recovery. Since gold is primarily valued in US dollars, any increase in the value of the US dollar tends to affect the price of gold. The US Dollar Index (DXY), which had struck year-to-date lows of 100.51 the day before, has recovered to rise more than...
On Monday, the gold price (XAU/USD) is trading close to the psychological support level of $2,500 with minor losses. On the other hand, there is growing anticipation that the US Federal Reserve (Fed) would start cutting interest rates in September, which could limit the precious metal's decline. Since owning an interest-bearing asset has less opportunity cost,...
The recent increase in Japan's GDP for the second quarter may have contributed to the Japanese yen's (JPY) Friday rise versus the US dollar (USD). This strengthens the case for a prospective Bank of Japan (BoJ) interest rate hike in the near future.
As the US Dollar weakens due to declining Treasury yields, the USD/JPY pair moves lower. Moreover, as per the CME...
As of Tuesday's Asian session, the EUR/USD pair is up for the second day in a row, trading at about 1.0930. A weakening of a positive trend is indicated by the daily chart analysis. A second indication of the bullish outlook for the EUR/USD pair is the 72-daily EMA below the price. An evident directional trend will be revealed by further movement.
The possibility...
For the second day in a row, there is some selling pressure on the gold price (XAU/USD), which on Wednesday in the Asian session hits a low of more than a week. In light of the US economy, remarks made on Tuesday by Federal Reserve (Fed) Governors Michelle Bowman and Lisa Cook indicated that the central bank is unlikely to begin its cycle of rate reductions very...
Following the announcement on Monday by Japanese Economy Minister Yoshitaka Shindo that the government will "continue efforts for primary balance to reach within surplus territory in FY 2025," the value of the Japanese yen (JPY) has declined. Real economic growth of 1.3% in FY 2025 is not so unrealistic, according to Shindo, who also voiced optimism, according to...
Early on Monday during Asian trading hours, gold prices (XAU/USD) surged to a record high above $2,440.
Renewed expectations of US Federal Reserve (Fed) interest rate cuts are a major factor supporting the bullish movement of the precious metal. Traders had priced in almost two quarter-point reductions from the Fed this year, with November most likely serving as...
This past week saw a significant decline in the DXY index, which momentarily hit its lowest level since the 9th of April. The main causes of this selloff were lower-than-expected U.S. employment data and declining U.S. Treasury yields after the Federal Reserve's monetary policy decision.
The US non-farm payrolls report, which followed, added to the currency's...
