Weak US data and tariff threats boost hopes for a Federal Reserve interest rate cut. Gold price consolidates the prior day’s losses and is looking for support on Wednesday. Market sentiment tries to snap Tuesday’s negativeness and could support Gold price. Gold’s price (XAU/USD) trades near $2,910 at the time of writing on Wednesday, consolidating its…
The US Dollar trades a touch softer on Thursday against most major peers. Traders are quick to ignore the recent Producer Price Index (PPI) release. The US Dollar Index (DXY) resides below 108.00 and is flat for this week. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six…
The US Dollar pops after stronger-than-expected January inflation numbers. Fed Chairman Jerome Powell heads into his second day at Capitol Hill. The US Dollar Index (DXY) shoots higher and heads to 108.50 in the CPI aftermath. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is soaring in…
The number of job openings on the last business day of December stood at 7.6 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. This reading followed the 8.09 million (revised from 8.15 million) openings announced in November and came in below the market expectation…
Gold price pops to 2,685 on the back of a strong US Jobs report. The Fed remains data dependent despite market conviction inflation will surge in 2025. Gold attempts to breakout towards $2,700, with help of the upbeat US employment report. Gold’s price (XAU/USD) is set to close off this week on a high note while…
A second positive day in a row for Gold prices on Wednesday, fueled by yields and geopolitics. CNN released an article stating that President-elect Donald Trump mulls imposing economic state of emergency to justify imposing global tariffs. Gold price remains in steady trading in a broad pennant technical formation, though starting to test upside levels. Gold’s…
