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This is one of those moments where Gold markets are offering a gift, TDS’ Senior Commodity Strategist Daniel Ghali notes. Gold is ‘overbought but underowned’ in market perception”Aggregate open interest in CME Gold is now approaching extreme lows (425k) that have historically marked lows in Gold prices—despite a compelling macro case for Gold. This underscores our view that Gold is perceived as a crowded trade, but is in fact under-owned. This is particularly surprising amid the ongoing megatheme-Gold’s rally is associated with the USD partly losing its store of value function.” “Gold’s rally isn’t about demand, it’s about trust. We expect aggregate…

Silver price looks for a temporary support after sliding almost 1% to near $33.00 as trade tensions between the US and China have renewed.Trump accused China for non-compliance of trade agreement.The US PCE inflation cools down in April.Silver price (XAG/USD) is down almost 1% near the key level of $33.00 during North American trading house on Friday. However, the white metal strives to gain ground as renewed trade tensions between the United States (US) and China are limited the upside in the US Dollar (USD).The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, struggles to…

The Pound Sterling rebounds to near 1.3475 against the US Dollar after Trump stated that China has violated trade agreement.A US federal appeals court temporarily puts on hold a lower court’s ruling against Trump’s tariffs.The US PCE inflation data for Apri has shown that inflationary pressures grew moderately.The Pound Sterling (GBP) claws back some of its early losses against the US Dollar (USD) and recovers to near 1.3470 during Friday’s North American session. The GBP/USD pair rebounds as the US Dollar gives up a part of initial gains after a post from United States (US) President Donald Trump on Truth.Social…

Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, declined to 2.1% in April from 2.3% in March, the US Bureau of Economic Analysis reported on Friday.Developing story, please refresh the page for updates.This section below was published as a preview of the US Personal Consumption Expenditures (PCE) Price Index data for April at 06:00 GMT.The core Personal Consumption Expenditures Price Index is expected to rise 0.1% MoM and 2.5% YoY in April.Markets expect the Federal Reserve to hold the policy setting unchanged in June.Annual PCE inflation is forecast…

The rupee pared its initial gains to settle 8 paise lower at 85.56 (provisional) against the US dollar on Friday, as volatility in domestic equities and recovering global crude prices pressured the local currency.However, a steady inflow of foreign funds supported the domestic unit even as investors stayed cautious, awaiting domestic GDP data to be released later in the day, forex traders said.At the interbank foreign exchange, the domestic unit opened at 85.35 and moved between the intra-day high of 85.25 and the low of 85.64 against the greenback. The unit settled for the day at 85.56 (provisional), registering a…

The Indian rupee declined by about 1% in May, reversing course after gaining in the previous two months, influenced by factors such as continued uncertainty over U.S. trade policies, gains in its Asian peers and a conflict between India and Pakistan. The rupee closed at 85.5775 on Friday, capping a day of choppy trading with a mild decline. The currency had rallied to a six-month earlier in May but shed its gains through the month.Initially, a military conflict between India and Pakistan hurt the currency but it rebounded once a ceasefire was reached. Over the rest of the month, dollar…

EUR/USD trims gains as the US Dollar finds support ahead of the PCE inflation data release.A US federal court reversed the previous day’s sentence blocking tariffs and sent the US Dollar tumbling on Thursday. In Europe, the focus will be on the German CPI due later today.EUR/USD is trading with minor losses around 1.1340 at the time of writing on Friday, but it holds most of the ground taken during Thursday after a US federal court reversed the block on US President Donald Trump’s tariffs, triggering a sharp US Dollar (USD) sell-off.The US Court of Appeals paused the previous day’s ruling…

The rupee strengthened by 19 paise to 85.29 against the US dollar in early trade on Friday on the back of lower crude oil prices and sustained foreign fund inflows. Forex traders said a firm greenback and volatile stock markets capped the rupee’s gain even as market participants stayed cautious ahead of the release of domestic GDP data. At the interbank foreign exchange, the domestic unit opened at 85.35 and gained further to trade at 85.29 against the greenback in initial deals, registering a rise of 19 paise from its previous close. The rupee ended 10 paise lower at 85.48…

Indian Rupee posts modest gains in Friday’s Asian session. The downbeat US economic data and uncertainty of Trump’s policies weigh on the US Dollar. Traders brace for India’s Q1 GDP and US April PCE inflation reports, which are due later on Friday.The Indian Rupee (INR) gains ground on Friday, snapping the three-day losing streak. The downbeat US economic data and concerns that a US court ruling would change the outlook for US tariffs undermine the US Dollar (USD). A decline in crude oil prices provides some support to the Indian currency, as India is the world’s third-largest oil consumer. However, the renewed importer…

Federal Reserve Bank of San Francisco President Mary C. Daly said late Thursday that the central bank needs modestly or moderately restrictive policy to keep bringing down inflation.Key quotesTwo rate cuts this year would make sense if the labor market stays solid and inflation falls, but the range of possible risks is large.Currently tilt toward a focus on inflation.Need a modestly or moderately restrictive policy to keep bringing down inflation.Looking for signs inflation is continuing to fall, or if it’s rising or staying sticky.Also looking for any weakening in the job market, not seeing any.Not facing policy tradeoffs now.The Fed is…