The euro, pound and yen all traded at multi-month lows on Tuesday, with the Japanese currency on the brink of weakening past the psychological 150 per dollar level, as surging U.S. Treasury yields kept the dollar firmly on the front foot. The euro was steady on the day at $1.0477, still around its weakest since…
Gold extended its rout to the lowest level in almost seven months amid hawkish signals on rates from the Federal Reserve and after a tumble in Treasuries intensified, pushing up yields. The plunge in bullion is relentless with the metal heading for a seventh straight day of declines, the longest losing streak since 2018. Benchmark US…
The Australian Dollar (AUD) snaps the winning streak on the third successive day on Monday. The AUD/USD pair received upward support, primarily supported by the upbeat Chinese PMI data released over the weekend. However, the US Dollar (USD) continues to demonstrate resilience after the moderate economic data released on Friday. Australia’s TD Securities Inflation (YoY)…
Gold fell for a sixth straight day, the longest losing run in more than 13 months, on the prospect of a higher-for-longer global interest-rate scenario. Bullion fell 4% last week as a drop below $1,900 an ounce triggered outflows from exchange-traded funds, with investors cutting bullish gold bets to a five-week low on Friday. A surge in bond yields from…
Oil was steady near $92 a barrel after dropping the most in eight weeks in the previous session on technical resistance and speculation the Saudis will start restoring output if prices get too high. West Texas Intermediate was subdued after a rollercoaster session on Thursday in which it rose above $95 a barrel at one point but…
Gold headed for its biggest weekly decline in eight months, with the higher-for-longer interest rate environment taking its toll on the precious metal. Bullion was steady on Friday after declining for the previous four sessions to below the $1,870-an-ounce mark that analysts had flagged as an important technical level. Commentary by the Federal Reserve indicating it…
