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The US Dollar strengthens for a second day on Friday, supported by solid US economic data and improving sentiment on trade.Markets remain cautious ahead of next week’s Federal Reserve decision and the August 1 tariff deadline.The DXY US Dollar Index trades near 97.80 after finding strong support at the 97.00 psychological level.The US Dollar (USD) trades with a positive tone for the second straight day on Friday, drawing strength from upbeat US economic data and fresh optimism on trade. On Thursday, better-than-expected weekly Initial Jobless Claims and steady Purchasing Managers Index (PMI) figures helped ease recession worries, supporting the view…

While we have left our Gold price forecast unchanged, we are revising our forecasts for Silver, Platinum, and Palladium upward, Commerzbank’s commodity analyst Carsten Fritsch notes. Silver and Platinum are likely to follow Gold”We expect the price of Silver to reach $39 per troy ounce by the end of the year (previously $37), the price of Platinum to reach $1,350 per troy ounce (previously $1,250) and the price of Palladium to reach $1,200 ($1,100).” “We therefore consider the majority of the recent price increase for the three precious metals to be sustainable, as it has reduced the previously significant undervaluation…

Gold demand in China fell by 3.5% year-on-year in the first half of the year, according to the China Gold Association, Commerzbank’s commodity analyst Carsten Fritsch notes. Investment demand is significantly more important for price trends Strong demand for bars and coins, which rose by 24% to 264 tons, prevented a sharper decline. This almost offset the 26% slump in jewelry demand to 200 tons. It is also noteworthy that demand for bars and coins was higher than demand for jewelry.” “While demand for jewelry suffered from record high prices, demand for bars and coins benefited from the high level…

The price of Gold fell significantly during the last two days, reversing the gains made in the first half of the week, Commerzbank’s commodity analyst Carsten Fritsch notes Gold is less in demand as a safe haven “This morning, Gold is trading at just under $3,350 per troy ounce. Headwinds are coming from the easing of the trade conflict. A few days ago, a trade agreement was reached between the US and Japan, which could also serve as a blueprint for an agreement between the US and the EU.” “The resulting optimism led to an increase in risk appetite in…

The rupee declined 12 paise to settle at 86.52 (provisional) against the US dollar on Friday, tracking negative domestic equity markets and surging global crude oil prices.A strengthening American currency overseas and foreign fund outflows further weighed on the local unit, forex traders said.At the interbank foreign exchange, the domestic unit opened at 86.59 and hit the lowest level of 86.63 against the greenback. The unit touched the intra-day peak of 86.47 before ending the session at 86.52 (provisional), registering a loss of 12 paise from its previous closing level.On Thursday, the rupee saw some initial recovery but ended the…

The Indian rupee fell to a one-month low on Friday, and logged its third straight weekly decline, pressured by outflows from local stocks and caution among investors ahead of a news-heavy week dominated by tariffs and central bank decisions. The rupee closed at 86.5150 against the U.S. dollar on Friday, down 0.4% on the week. The local currency hit a low of 86.6250 earlier in the session, its weakest level since June 23. India’s benchmark equity indexes, the BSE Sensex and Nifty 50, fell about 0.9% each, weighed down by a fall in global equities alongside worries over weak corporate…

The USD/JPY outlook indicates that focus has shifted from tariffs to upcoming central bank policy meetings. US business activity data was mixed. Traders expect Powell to maintain his cautious tone. The USD/JPY outlook indicates a shift in sentiment as the market’s focus shifts from tariffs to upcoming central bank policy meetings. The dollar recovered, while the yen remained fragile, as traders speculated on the upcoming Fed and BoJ policy meetings.  –Are you interested in learning more about ETF brokers? Check our detailed guide- The dollar recovered as the week came to a close, as the impact of the recent US-Japan…

Gold holds losses as labour market resiliency and stronger services PMI support the Fed’s ‘higher-for-longer’ narrative.Risk appetite improves on hopes of a EU-US trade deal, global equities rally weighs on bullion.XAU/USD momentum stabilises near neutral territory, suggesting that bulls may be losing steam below $3,400.Gold is extending losses for a second straight session on Thursday, pressured by a shift toward risk-on sentiment and a decrease in safe-haven flows.At the time of writing, XAU/USD is hovering above $3,360, retreating from recent highs near $3,457 on renewed hopes of an EU-US trade deal ahead of the August 1 tariff deadline.On the data…

The European Central Bank (ECB) announced on Thursday that it left key rates unchanged following the July policy meeting, as expected. With this decision, the interest rate on the main refinancing operations, the interest rates on the marginal lending facility and the deposit facility stood at 2.15%, 2.4% and 2%, respectively.Join our ECB Live Coverage hereKey takeaways from ECB policy statement”Incoming information is broadly in line with ECB’s previous assessment of inflation outlook.””Domestic price pressures have continued to ease, with wages growing more slowly.””Partly reflecting ECB’s past interest rate cuts, the economy has so far proven resilient overall in a…

A first look at S&P Global’s Composite PMI indicated that US business activity grew faster in July, with the index rising to 54.6 from the previous month’s 52.9. The number, which is over the 50 mark that divides expansion from contraction, suggests that the private sector is gathering traction.The statistics showed that different industries were performing in a mixed fashion. The Manufacturing PMI dropped from 52.9 to 49.5, which means that manufacturing activity lost momentum. The Services PMI, on the other hand, increased from 52.9 to 55.2, which might mean that demand in the services sector is picking up momentum.Following…