EUR/USD dips to 1.1296 after Trump announces steep tariffs on EU imports starting June 1. The pair rebounds to 1.1350 as US Dollar stays pressured by rising fiscal deficit concerns. Euro shrugs off ECB rate cut talk, supported by improving German GDP figures. EUR/USD recovered during the mid-North American session on Friday after diving below…
XAU/USD rallies as Trump warns of 50% tariffs on EU imports, escalating trade war and boosting safe-haven demand. The US House passes a $4 trillion debt-heavy budget, with the Senate vote and inflation data in focus. Talks on Ukraine and Iran ease geopolitical stress, but markets remain risk-averse. Gold’s price uptrend resumed on Friday, with…
UK CPI climbs to 3.6% YoY in April, well above BoE’s 2% inflation target. Core inflation accelerates to 3.8%, raising doubts over future rate cuts. US Dollar tumbles as G-7 stokes speculation of Washington favoring weaker Greenback. The Pound Sterling rose to a new year-to-date (YTD) high of 1.3468 against the US Dollar on Wednesday…
USD/CHF trades higher as the US Dollar strengthens on news of a 90-day tariff reduction deal between the US and China. The US 10-year Treasury yield hits 4.4500%, boosting USD demand, while Swiss franc lags amid reduced safe-haven flows. Key support levels for USD/CHF are 0.8910, 0.8880, and 0.8850, while resistance sits at 0.9050, 0.9080,…
Mexican Peso appreciates as USD/MXN slips to 19.56 on hopes for US tariff relief. Wall Street gains spark demand for riskier assets like the Mexican Peso. Trump hints at easing auto tariffs; potential trade deals with India or South Korea eyed. Traders await Mexico’s Q1 GDP and US Core PCE data for fresh direction. The…
The Japanese Yen (JPY) weakened by 0.5% against the dollar, underperforming even fellow haven currencies, as markets brace for soft domestic data and upcoming US-Japan trade negotiations. With the BoJ expected to hold steady, JPY remains vulnerable to external risks and policy inertia, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Focus on data, trade, and…
Gold buyers regain control as risk-off sentiment spreads across financial markets. US Dollar and Treasury yields slide as traders bet on deeper Fed rate cuts. Traders brace for a crucial US data week with GDP, Core PCE and NFP in focus. Gold price resumes its uptrend on Monday after erasing some of its earlier losses,…
Gold hits fresh all-time high as Trump attacks Powell, calling him “a major loser” for delaying rate cuts. DXY plunges to 97.92 as Fed independence is questioned and stagflation risks remain in focus. Traders brace for key Fed speeches this week from Jefferson, Harker, and Kashkari amid growing policy uncertainty. Gold price begins the week…
Gold rallies $90 this week as the US Dollar weakens amid rising trade tensions and geopolitical risks. Fed’s Daly says policy is still restrictive; neutral rate may be rising, echoing Powell’s hawkish tone. Traders focus on key US data next week: Flash PMIs, Durable Goods, and final Consumer Sentiment. Gold prices are set to end…
Euro edges higher amid US Dollar pressure after the White House pushes tariffs on Chinese ships, fueling global trade risks. Trump reportedly furious with Fed Chair Powell; adviser says President reviewing legality of dismissal. ECB’s Muller says lower energy prices and tariffs justify rate cut, though warns fragmentation may fuel inflation ahead. The Euro (EUR)…