Author: FX
The Australian Dollar (AUD) slumps against the US Dollar (USD) on Friday, with AUD/USD plunging to over one-month lows after US President Donald Trump threatened a “massive increase” in tariffs on Chinese imports, reigniting fears of a renewed trade war between the world’s two largest economies.Given Australia’s close trade ties with China, the comments weighed heavily on the Aussie as traders trimmed exposure to risk-sensitive currencies. At the time of writing, AUD/USD trades around 0.6484, down nearly 1.0% on the day and on track to post a weekly loss.At the same time, the Greenback also fell against its major counterparts,…
GBP/USD tumbles to two-month low amid UK fiscal worries and US Dollar strength GBP/USD retreats toward 1.3280 during Friday’s US session, marking a fresh two-month low. The US Dollar (USD) remains firm, supported by increased safe-haven demand amid political uncertainty in Japan and France. The US Dollar Index (DXY) holds near Thursday’s two-month high of 99.56, limiting any rebound of the Cable. Despite rising expectations for further interest rate cuts by the Federal Reserve (Fed) before year-end, the Greenback remains in demand. According to the CME FedWatch tool, markets assign over an 80% chance of a 50-basis-point rate cut by…
The GBPUSD moved lower earlier today, breaking to a new low not seen since August 5. The decline tested that prior low at 1.32594, where buyers stepped in to stall the fall. A sharp reversal followed after news that President Trump was preparing massive tariff increases on Chinese imports, triggering a strong rebound in the pound.The rally carried the pair back above the broken swing area/floor between 1.3323 and 1.3341, and extended to a high of 1.3370. That move retested two key levels: the 61.8% retracement of the rise from the August 1 low at 1.3364, and the swing low…
Federal Reserve (Fed) Bank of St. Louis President Alberto Musalem spoke about the United States (US) economy and monetary policy at a fireside chat before the Springfield Area Chamber of Commerce and Public policy speakers, stating that inflation is running high. He added that the labor market is showing signs of potential weakness and that a balanced approach to monetary policy only works if inflation expectations are anchored.Key QuotesFed’s goals are in tension.A balanced approach to monetary policy only works if inflation expectations are anchored.Less able to respond to short-term labor market fluctuations if inflation expectations become unanchored.Right now, inflation…
The Euro (EUR) extends its pullback against the Japanese Yen (JPY) on Friday, with EUR/JPY losing 0.35% to 176.40 at the time of writing, after reaching an all-time high of 177.94 in the previous session. The European currency remains under pressure amid political instability in France, where the resignation of Prime Minister Sébastien Lecornu has reignited concerns about the government’s ability to contain its fiscal deficit.French President Emmanuel Macron, under pressure to appoint a new head of government before the end of the day, struggles to secure a consensus after a series of unproductive meetings with opposition parties. The lack…
The S&P is trading to new lows and 6615.71, and in doing so is dipping just below the 200 hour moving average at 6616.42.Concerned about US and China and now the layoffs/firings of thousands of federal workers. The market has been ignoring the shut down. Add concerns about raising tariffs on China goods and its impact on inflation and layoffs, and that could lead to lower growth if the problems are not solved.The NASDAQ index is down 558 points or 2.43% at 22463. Its low from earlier today came in at 22439.66. It 200 hour moving average is further lower…
The US Dollar Index (DXY) drops by 0.48% to trade around 98.90 on Friday at the time of writing, extending its recent weakness as global investors react to a new escalation in trade tensions between the United States (US) and China.US President Donald Trump said on his social media platform Truth Social that his administration is considering a “massive increase of tariffs” on Chinese imports, describing Beijing’s latest export restrictions on rare earths as “hostile.” Trump added that he sees “no reason” to meet Chinese President Xi Jinping at the upcoming Asia-Pacific Economic Cooperation (APEC) summit in South Korea, suggesting…
Search Minerals (OTCPK:SHCMF) stated that it has amended the terms of its previously announced non-brokered private placement financings for gross proceeds of up to $0.99M. Under the revised terms, the hard dollar private placement price has increased from $0.25 to $0.33 per share. Source link
Gold (XAU/USD) holds firm on Friday following a sharp pullback the previous day after retesting Wednesday’s all-time high of $4,059. At the time of writing, XAU/USD is hovering around $3,985, as bulls struggle to extend gains beyond the $4,000 psychological mark.The pullback from record highs was largely driven by profit-taking and easing geopolitical risk following a US-brokered Gaza peace deal. The development reduced some of the geopolitical tensions, prompting investors to lock in gains.The broader trend continues to favor the upside as investors seek refuge in Gold amid global economic and political uncertainty, coupled with a dovish Federal Reserve (Fed)…
When tensions flare in the Middle East, traders hold their breath. When a ceasefire breaks through, markets exhale. So it’s no surprise when the Gaza War ceasefire between Israel and Hamas ended two years of tragic conflict, it sent immediate ripples across global markets, most notably in oil & gold prices. Let’s quickly break it all down into simple terms, and see what it may mean for the markets in the short-term. What Just Happened? Israel and Hamas have signed a ceasefire agreement after two years of conflict that rattled energy markets and drove geopolitical risk higher. The deal includes…