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UK GDP shrinks for second straight month, boosting August BoE cut odds to 78%.Trump escalates trade war with 35% tariffs on Canadian goods, spooking markets.Rising rate cut bets and fiscal concerns pressure Sterling ahead of key UK data next week.The GBP/USD tumbles over 0.59% on worse than expected Gross Domestic Product (GDP) figures in the UK, which could warrant further easing by the Bank of England (BoE). This and an escalation of the trade war boosted the Greenback. At the time of writing, the pair trades at 1.3504 after reaching a high of 1.3584.GBP/USD sinks 0.59% as weak UK growth…

Gold price gains 1.20% as investors shy away from the US Dollar.Trade wars and tariffs weigh on market sentiment, driving demand for precious metals. XAU/USD rallies toward Fibonacci resistance above $3,370 with $3,400 in focus.Gold (XAU/USD) price surged on Friday, trading above $3,360 at the time of writing, as trade tensions and safe-haven demand have overshadowed rising US yields. US President Donald Trump announced on Friday a sweeping 35% tariff on Canadian imports, effective from August 1, in a move that rattled global markets. The decision is particularly significant given that the United States is Canada’s largest trading partner, accounting for 76%…

EUR/JPY extends gains on Friday, rebounding from a two-day losing streak.The cross is trading around 172.40, its highest level since July 17, 2024.The technical structure remains bullish, with the RSI at 72.85 signaling overbought conditions, but no signs of a reversal.The Euro (EUR) extends its advance against the Japanese Yen (JPY) on Friday, rebounding from a two-day losing streak as the Japanese currency remains broadly weaker against its major peers. The EUR/JPY cross has been trading on the front foot for the past seven weeks, underpinned by sustained policy divergence between the European Central Bank (ECB) and the Bank of…

Silver reaches new 2025 high as tariff tensions lift safe-haven demand.Bullish momentum remains strong as the white metal rises toward the $38.00 resistance.XAG/USD benefits from its dual role as a safe-haven and industrial metal.Silver (XAG/USD) is trading at a fresh YTD high on Friday as tariff threats and market uncertainty drive demand for safe-haven assets.The Silver price is trading above $37.60 at the time of writing, as bulls appear eager to test the next psychological resistance level of $38.00.As the white metal continues along its upward trajectory, US President Donald Trump’s tariff policies and a weaker US Dollar have proven…

The rupee depreciated 7 paise to close at 85.77 (provisional) against the US dollar on Friday, on weak domestic markets and risk-off sentiments amid trade tariff uncertainty.Forex traders said global market sentiments were dented as US President Donald Trump imposed 35 per cent tariffs on Canadian goods.At the interbank foreign exchange, the rupee opened at 85.76 against the US dollar, and touched an intra-day low of 85.91 during the day. The local unit finally settled for the day at 85.77 (provisional), down 7 paise from its previous close.On Thursday, the rupee pared initial gains and settled for the day higher…

The USD/CAD outlook suggests economic uncertainty in Canada. Trump announced a 35% tariff on imports from Canada, which weighed on the loonie. Market participants are awaiting Canada’s monthly employment report. The USD/CAD outlook suggests economic uncertainty in Canada following Trump’s announcement of a 35% tariff on goods from the country. As a result, the Canadian dollar collapsed against the US dollar. Meanwhile, market participants are awaiting crucial employment data from Canada. –Are you interested in learning more about Forex indicators? Check our detailed guide- Trump on Thursday intensified his tariff threats by announcing more tariffs on countries that had not…

The Unemployment Rate in Canada is expected to rise further in June.Further cooling in the labour market could favour additional rate cuts.The Canadian Dollar remains sidelined around 1.3600 against the US Dollar. On Friday, Statistics Canada will release the results of the Canadian Labour Force Survey. Market investors predict that the report will come in on the soft side, which might encourage the Bank of Canada (BoC) to resume its easing cycle.The BoC kept its policy rate at 2.75% at its June meeting, following the same move in April and the 25-basis-point cut in March. Back to the previous meeting,…

Silver adds to the previous day’s strong move up and gains traction for the second straight day.A move beyond the $37.30-$37.35 area would set the stage for a further near-term appreciation. Any corrective pullback might be seen as a buying opportunity and is likely to remain cushioned. Silver (XAG/USD) trades with a positive bias for the second straight day and tests the top end of a multi-week-old range during the Asian session on Friday. The white metal currently trades around the $37.20 region, up 0.40% for the day.From a technical perspective, the daily Relative Strength Index (RSI, 14) remains above…

Spot gold rose 0.3% to $3,333.67 per ounce as of 0245 GMT. Gold rose on Friday after US President Donald Trump announced new tariffs on Canadian imports and broader tariff threats to other trading partners, but gains were capped by a stronger dollar amid mounting signs of turmoil in global trade landscape.Spot gold rose 0.3 per cent to $3,333.67 per ounce as of 0245 GMT. US gold futures added 0.6 per cent to $3,345.10.On Thursday, Trump said US would impose a 35 per cent tariff on imports from Canada and planned to impose blanket duties of 15 per cent or…

The rupee pared its initial gains and settled for the day higher by 4 paise at 85.69 (provisional) against the US dollar on Thursday, supported by US-India trade deal optimism, even as the domestic equity markets closed in negative territory.Forex traders said the Indian rupee ended the day in the green against the US dollar amid firm expectations that India and the US will reach a deal soon.At the interbank foreign exchange, the rupee opened on a positive note at 85.62 against the US dollar, and traded in a range of 85.69 and 85.53 during the day. The local unit…