Reserve Bank of Australia (RBA) Governor Michele Bullock is addressing the press conference, explaining the reason behind unexpectedly leaving the key interest rate unchanged at 3.85% in the July policy meeting. Bullock is responding to media questions as part of a new reporting format for the central bank that started this year. For RBA Bullock’s…
The Japanese Yen drifts lower in reaction to weaker domestic wage growth data. Geopolitical risks and divergent BoJ-Fed expectations should limit JPY losses. The USD bearish sentiment might further contribute to capping the USD/JPY pair. The Japanese Yen (JPY) intraday selling bias against a broadly stronger US Dollar (USD) remains unabated, with the USD/JPY pair…
Gold price drops to a multi-day low on Monday amid modest USD strength. Fed rate cut bets and US fiscal concerns should act as a headwind for the USD. Geopolitical risks could further offer support to the safe-haven precious metal. Gold price (XAU/USD) retains intraday bearish bias through the first half of the European session,…
EUR/USD edges up 0.18% in thin trading as traders digest Trump’s sweeping tariff plans and EU–US tensions mount. Trump confirms tariffs up to 70% to take effect August 1, targeting EU goods, including food. Bloomberg: EU carmakers seek tariff relief via US investment pledges. Light US calendar shifts focus to German industrial output and Eurogroup…
The Canadian Dollar sharply pared back near-term gains on Friday. US President Donald Trump has announced that his team is ending all trade talks with Canada. Canadian GDP growth contracted in April, adding further downside pressure to Loonie flows. The Canadian Dollar (CAD) backslid on Friday, falling back on a combination of weakening Canadian Gross…
EUR/USD pulls back to 1.1695 after hitting yearly peak above 1.1750. US core PCE inflation rises above expectations; consumer sentiment improves, weighing on Euro. ECB’s Knot sees one more cut in 2025; French inflation cools, Spain’s HICP exceeds 2%. The EUR/USD retreats from yearly highs above 1.1750, tumbling below 1.1700 despite market participants being convinced…
XAU/USD falls over 1.5% as safe-haven demand wanes on global trade and geopolitical easing. US-China trade deal signed; more agreements expected before July 9, boosting sentiment. Iran signals diplomacy; Israel–Gaza war may end in two weeks, says Al Arabiya. Core PCE rose above forecasts; Fed’s Kashkari still expects two rate cuts in 2025. Gold price…
Gold remains under pressure as risk-on sentiment continues to influence market trends. Fed Chair Powell and President Trump clash over the timing of interest rate cuts. A September rate cut is priced in but a rate cut in July could help drive Gold out of its range. XAU/USD hovers near the 50-day Simple Moving Average…
EUR/USD up 0.36%, set to end week flat after Trump delays military action against Iran. Waller’s call for a July cut contrasts with Fed report and Barkin’s cautious stance. EU–US trade deal in jeopardy as July 9 deadline nears, capping upside potential. The Euro recovers some ground against the US Dollar on Friday and is…
Gold trades flat near $3,369, on track for a weekly loss of nearly 1.90%. Trump backs off immediate Iran action, boosting risk sentiment and denting safe-haven demand. Fed officials split on rate outlook; Waller eyes July cut, Barkin stays cautious. Gold price trades flat on Friday and is poised to end the week with a…