GBP/USD now accelerates its daily recovery, leaving behind two daily pullbacks in a row and advancing to the 1.2650 region, or freshtwo-month highs, in response to the increasing selling bias in the Greenback.
P/USD remains on the front foot, rising toward 1.2600 in the European session on Friday. The pair benefits as the US Dollar extends the downside and risk sentiment remains in a sweeter spot due to the delay in Trump's reciprocal tariffs. The focus shifts to the US Retail Sales data.
GBP/USD struggles to find direction as it continues to move sideways at around 1.2450 on Wednesday. Investors adopt a cautious stance and refrain from taking large positions ahead of the highly-anticipated January Consumer Price Index data from the US.
EUR/USD now picks up pace and advances to two-day highs near 1.0350 on the back of the move lower in the US Dollar following Chair Powell's testimony.
Prices of the yellow metal extend their comeback above the key $2,900 barrier per ounce troy in response to the now increasing selling bias around the US Dollar.
USD/JPY trades sideways around 152.00 as Fed Powell’s testimony takes center stage. Fed Powell is unlikely to provide cues about the timeline from when the central bank could resume the policy expansion cycle. Yen’s rally appears to have stalled, which was based on BoJ's hawkish bets.
Prices of the yellow metal extend their comeback above the key $2,900 barrier per ounce troy in response to the now increasing selling bias around the US Dollar.
Gold prices trim their early advance on Friday, deflating to the vicinity of the $2,860 region per ounce troy following the publication of the US labour market report in January.
Gold prices trim their early advance on Friday, deflating to the vicinity of the $2,860 region per ounce troy following the publication of the US labour market report in January.
Gold keeps its inconclusive price action below the $2,870 region per ounce troy on Thursday against the backdrop of a marked recovery in the Greenback and a mild rebound in US yields across the curve. Investors refrain from taking large positions ahead of Friday's key US jobs data.
Gold price consolidates its recent strong gains to a record high touched on Monday. Rebounding US bond yields and a modest USD uptick cap gains for the commodity. Worries about Trump's tariffs and inflation concerns lend support to the XAU/USD.
The Japanese Yen attracts some intraday sellers and snaps a two-day winning streak against its American counterpart after Bank of Japan (BoJ) Governor Kazuo Ueda said this Friday that the underlying inflation is still somewhat below 2%. Apart from this, a modest bounce in the US Treasury bond yields and a generally positive risk tone undermines the safe-haven JPY....
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Further gains propel the ounce troy of Gold to all-time highs near the $2,880 mark on the back of the weak US Dollar, declining US yields across the curve and safe haven demand propped up by tariffs concerns.
The ongoing bounce in the US Dollar triggers a knee-jerek in Gold prices, slipping back to the $2,800 region per ounce troy following the confirmation of US tariffs on Canada, Mexico, and China.
GBP/USD rapidly faded the move to daily highs and returned to the sub-1.2400 region in response to the sudden rebound in the Greenback on the back of further tariffs headlines
The Japanese Yen attracts some intraday sellers and snaps a two-day winning streak against its American counterpart after Bank of Japan (BoJ) Governor Kazuo Ueda said this Friday that the underlying inflation is still somewhat below 2%. Apart from this, a modest bounce in the US Treasury bond yields and a generally positive risk tone undermines the safe-haven JPY....
Gold remains on a positive trajectory, hitting an all-time high of around $2,815 per troy ounce on Friday, driven by persistent safe-haven demand amid rising uncertainty over President Trump's tariff plans.