Silver price has marked $39.10, the highest since September 2011, on Monday. The safe-haven Silver attracts buyer following President Trump’s 30% tariff on imports from the European Union and Mexico. Traders adopt caution after US economic adviser Kevin Hassett suggested that Trump could remove Fed’s Powell “if there’s cause.” Silver price (XAG/USD) extends its three-day […]
China’s Trade Balance for June, in Chinese Yuan (CNY) terms, arrived at CNY585.96 billion, narrowing from the previous figure of CNY743.56 billion. China’s Exports rose 7.2% YoY in June vs. 6.3% in April. The country’s imports increased 2.3% YoY in the same period vs. -2.1% recorded previously. In US Dollar (USD) terms, China’s trade surplus expanded more than
The Australian Dollar receives support from the cautious tone surrounding RBA’s policy outlook. RBA’s Bullock stated that elevated unit labor costs and weak productivity could drive inflation above current forecasts. President Trump issued a fresh round of tariff demand letters, reigniting concerns over a global trade war. The Australian Dollar (AUD) continues its winning streak
The Australian Dollar offers its daily gains due to risk aversion as Iran declines to resume nuclear negotiations. President Trump may announce his preferred candidate to lead the Federal Reserve next year. The US Dollar depreciated due to risk-on sentiment following a fragile US-brokered Israel-Iran ceasefire. The Australian Dollar (AUD) retraces daily gains on Friday,
Here are the key points: Total S&P 500 earnings for the June quarter are expected to be up +4.9% from the same period last year on +3.9% higher revenues. While negative revisions to Q2 estimates have stabilized in recent weeks, estimates for the period have been under significant pressure relative to other recent periods since
The Australian Dollar extends gains due to the Israel-Iran ceasefire. Australia’s Monthly Consumer Price Index increased by 2.1% YoY in May, against the expected 2.3% rise and the 2.4% prior. Fed Chair Powell advocated for delaying rate cuts, likely until sometime in the fourth quarter. The Australian Dollar (AUD) extends its gains for the third
The Australian Dollar remains subdued after mixed employment figures were released on Thursday. Australia’s Employment Change surprisingly declined by 2.5K in May, while Unemployment Rate steadied at 4.1% as expected. The Federal Reserve kept its interest rates on hold at 4.5% in June, as expected. The Australian Dollar (AUD) depreciated against the US Dollar (USD)
GBP/USD Forecast: Pound Sterling could extend correction if 1.3530 support fails GBP/USD stays on the back foot and trades near 1.3550 in the European session on Tuesday after posting small gains on Monday. The pair could extend its decline if the support level at 1.3530 fails. The improving risk mood made it difficult for the
Canadian Prime Minister Mark Carney said on Monday that he had agreed with US President Donald Trump that their two nations should try to wrap up a deal on tariffs within 30 days, per Reuters. Key quotes The trade talks need to be sped up.Goal of reaching a deal sometime over the next month.The first
AUD/JPY trades above 94.00 as improved risk sentiment and stronger-than-expected China Retail Sales support the Aussie. The Bank of Japan is expected to hold its rates at 0.50% on Tuesday, which could support the strength of AUD/JPY. The Australian Dollar remains firm on diverging policy outlooks between the RBA and BoJ. AUD/JPY is trading firmer
European Central Bank Vice President Luis de Guindos said on Monday that the exchange rate of EUR/USD at 1.15 is no big obstacle on the inflation target. Key quotes The appreciation of the euro is not rapid, volatility not extreme.The risk of undershooting inflation target is very limited.The risks to inflation are balanced.Markets understood perfectly
WTI price rises to near $72.15 in Monday’s early Asian session. Concerned over wider conflict between Iran and Israel that could disrupt supplies support the WTI price. Trump’s tariff uncertainty might cap the WTI’s upside. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.15 during the Asian trading hours on Monday. The WTI
USD/JPY trades above 144.00 as safe-haven flows boost the US Dollar amid rising Middle East tensions. BoJ is expected to hold rates steady, limiting support for the Yen despite earlier hawkish signals from Governor Ueda. Japan and the US prepare to meet at the G7 summit in Canada, where the two nations are expected to
The Australian Dollar declines due to dampened risk sentiment amid rising tensions in the Middle East. Israeli military officials said that Israel attacked dozens of nuclear sites across Iran. The US Producer Price Index rose 0.1% MoM in May, against the expectation of a 0.2% rise. The Australian Dollar (AUD) declines against the US Dollar
USD/JPY edges lower on broad-based US Dollar weakness. Tariff threats reemerge ahead of upcoming talks between the United States and Japan. The G7 meeting in Canada on Sunday sets the stage for USD/JPY’s next big move. The Japanese Yen (JPY) and the US Dollar (USD) share a complex relationship, with the interests of the two
USD/CHF depreciates as the safe-haven demand increases amid rising tensions between Israel and Iran. CBS journalist reported that US officials have been told that Israel is fully prepared to launch an operation into Iran. US Consumer Price Index climbed 2.4% YoY in May, coming in slightly below the expected 2.5% rise. USD/CHF extends its losses
The United States (US) and China agreed to a preliminary deal on how to implement the consensus the two sides reached in Geneva, per Bloomberg. US negotiators said early Wednesday that they “absolutely expect” that issues around shipments of rare earth minerals and magnets will be resolved with the framework implementation, even though the full
