XAU/USD rises 0.6% to $4,050 as traders reduce hawkish Fed expectations amid softer inflation signals and a weaker dollar. Gold prices climbed 0.6% to near $4,050 in European trading Friday, recovering from support at $3,960. The rally follows a pullback in the US Dollar I
USD gains support after Fed projects rate hike The US dollar has been supported following the hawkish Fed dot plot last week. The Fed delivered a hawkish surprise by projecting a rate hike this year. There are now 32 bps of tightening priced in by year-end, with
Investors shift focus to AI profitability as chipmakers rally while big tech stocks slump, weighing on major indices. US stock futures edged lower following a volatile session where the Nasdaq declined 0.5% amid a sharp divergence in tech performance. Chipmakers surged, wi
USD rally pauses as global risk appetite improves The US Dollar rally has paused due to improved global risk appetite. Core PCE rose 0.3% MoM in May, in line with consensus expectations, but remains above the Fed's target at 3.4% YoY. The pause in the USD rally is a
Turkey’s central bank hints at rate cuts despite inflation remaining above 30%, raising concerns over currency stability. Turkey’s central bank governor, Fatih Karahan, is signaling potential monetary easing by considering a return to one-week repo auctions. This could low
XAG/USD rises modestly on Friday, recovering slightly from a year-to-date decline of 18.14% amid stable gold-silver ratio. Silver prices edged higher on Friday, trading at $58.19 per troy ounce, a 0.56% increase from Thursday’s $57.87. The move marks a slight rebound for t
EUR/USD retests key zone amid US dollar weakness The US dollar has been supported by a hawkish Fed dot plot, with 32 bps of tightening priced in by year-end. The market is pricing in a 29% chance of a hike in July and 60% probability of a move in September.
Rabobank strategists expect Banxico to maintain its 6.50% policy rate until year-end, supporting peso stability. The Mexican peso is projected to trade steadily against the US dollar this summer as Banxico’s June 25 decision left its policy rate unchanged at 6.50%. The mov
Rabobank forecasts USD/MXN at 17.6 by December, citing Banxico’s unchanged 6.50% rate and stable summer trading outlook. Banxico maintained its policy rate at 6.50% on June 25, matching consensus expectations and signaling no near-term shifts. The decision was unanimous, w
US inflation data matching expectations and softer Fed rate hike bets weigh on the USD, with markets eyeing upcoming payrolls and CPI. The US Dollar Index fell 0.2% to 101.43 overnight, marking its first decline since the June FOMC meeting. The drop follows May PCE data sh
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