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Silver retreats from a high of $36.83 and trades at $36.16 as the US Dollar and yields edge higher.A bearish engulfing candle forms; weekly close above $36.00 remains key for bullish structure.A breakdown below $36.00 exposes $35.68 and $35.29; bulls must retake $36.83 to resume upside.Silver price sinks more than 1% on Friday, ahead of the weekend, after refreshing a five-day high of $36.83, ahead of $37.00. At the time of writing, XAG/USD trades at $36.16 due to a slight recovery in the US Dollar and rising US Treasury yields.XAG/USD Price Forecast: Technical outlookSilver price retreated, forming a ‘bearish engulfing’…

The Canadian Dollar sharply pared back near-term gains on Friday.US President Donald Trump has announced that his team is ending all trade talks with Canada.Canadian GDP growth contracted in April, adding further downside pressure to Loonie flows.The Canadian Dollar (CAD) backslid on Friday, falling back on a combination of weakening Canadian Gross Domestic Product (GDP) growth metrics and fresh trade tensions with US President Donald Trump. The Trump team appears to be pulling up stakes and abandoning the trade negotiation table entirely, with Donald Trump announcing that he was taking his ball and going home in a social media post…

EUR/USD pulls back to 1.1695 after hitting yearly peak above 1.1750.US core PCE inflation rises above expectations; consumer sentiment improves, weighing on Euro.ECB’s Knot sees one more cut in 2025; French inflation cools, Spain’s HICP exceeds 2%.The EUR/USD retreats from yearly highs above 1.1750, tumbling below 1.1700 despite market participants being convinced that the Federal Reserve (Fed) will cut rates at the September meeting. A mixed inflation report in the United States (US) and optimism among American consumers exerted downward pressure on the pair. At the moment, the pair trades at 1.1695, virtually unchanged.Economic data is taking center stage on…

XAU/USD falls over 1.5% as safe-haven demand wanes on global trade and geopolitical easing.US-China trade deal signed; more agreements expected before July 9, boosting sentiment.Iran signals diplomacy; Israel–Gaza war may end in two weeks, says Al Arabiya.Core PCE rose above forecasts; Fed’s Kashkari still expects two rate cuts in 2025.Gold price tumbled over 1.50% on Friday amid an improvement in risk appetite, driven by several factors. The de-escalation of the Israel–Iran conflict, the trade agreement with China, and ongoing negotiations between the United States (US) and its peers to reach commercial deals were welcomed by investors, who had previously sought…

The Dow Jones made a bullish push for the 44,000 region on Friday.Equities are on the rise as investors bank on US trade deals.Traders are hoping for three Fed rate cuts by the end of 2025, to begin in September.The Dow Jones Industrial Average (DJIA) gained ground on Friday, driven by a combination of investor expectations that the US will figure out how to secure trade deals that circumvent its own ringfence of threatened tariffs, and rising expectations of more rate cuts from the Federal Reserve (Fed) by the end of the year.In an interview with Bloomberg News, US Commerce…

AUD/USD weakens after reaching a fresh YTD high of 0.6564 on Thursday.US-China trade lifts risk sentiment, but profit taking and a firmer USD limit gains.AUD/USD is heading toward 0.6500, with bullish momentum fading above 0.6550.The Australian Dollar (AUD) is pulling back from weekly highs against the US Dollar (USD) on Friday.At the time of writing, the AUD/USD pair is trading near 0.6520, having reached an intraday high of 0.6561.AUD/USD retreats as USD regains ground and sentiment stabilizesThe US Dollar is recovering slightly after falling to three-year lows against its peers. On Friday, the Bureau of Economic Analysis released the latest…

NZD/USD trades around 0.6045 on Friday after hitting an intraday high of 0.6079.The pair remains within a rising wedge formation, typically a bearish setup.NZD/USD hit 0.6089 on June 16, marking its YTD high, but has since lacked bullish follow-through.NZD/USD struggles to extend its recent advance on Friday, hovering near 0.6045 after an intraday high of 0.6079. The pair remains trapped inside a rising wedge formation, typically a bearish signal, as the broadly weak US Dollar steadies. The US Dollar Index (DXY) is holding above the 97.00 threshold, curbing the Greenback’s sharp pullback and weighing on Kiwi upside.From a technical perspective,…

WTI Crude Oil reports the largest weekly loss since March 2023.OPEC prepares to increase supply by an additional 411,000 barrels per day in July, easing supply concernsWTI remains supported by the $64.00 psychological level, but easing tensions in the Middle East limit near-term gains.West Texas Intermediate (WTI) Crude Oil has fallen sharply since reaching a high of $76.44 on Monday, with prices declining more than $10.00 per barrel this week.With losses over the past five sessions rising above 12%, this marks the largest weekly decline since March 2023.At the time of writing, WTI trades below $65.00 per barrel, with prices…

EUR/JPY trades near 170.00, its highest level since July 2024, on Friday.Soft Japanese data and steady BoJ stance undermine Yen demand.The euro remains firm despite a drop in Eurozone economic sentiment.The Euro (EUR) strengthens against the Japanese Yen (JPY) on Friday, with the EUR/JPY pair climbing toward levels not seen since July 2024. The cross is buoyed by a combination of strong Euro demand and persistent Yen weakness, as diverging monetary policy outlooks between the European Central Bank (ECB) and the Bank of Japan (BoJ) continue to drive the uptrend.At the time of writing, EUR/JPY is trading just shy of…

Gold weakens as risk sentiment improves, US equities rally pushing S&P 500 futures to record highs.Core PCE inflation for May rises along with June Michigan Consumer Sentiment Index while inflation expectations fall.XAU/USD remains on the backfoot with selling pressure increasing below $3,300.Gold (XAU/USD) is on the defensive heading into the weekend, pressured by a combination of mixed US data and improving global risk sentiment. The precious metal is trading below $3,300, down nearly 2% on the day, as safe-haven flows continue to unwind. Friday’s core PCE inflation print showed a modest uptick in May, reinforcing the Fed’s cautious stance and…