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According to the Financial Times, US President Donald Trump has escalated his demands to the European Union (EU), eyeing at least a minimum tariff of 15% to 20% in a deal with the Eurozone, revealed three people briefed on talks.Key quotes:The US president’s hardened stance aims to test the EU’s pain threshold after weeks of talks on a framework agreement that would have maintained a baseline tariff of 10% on most goods.People familiar with the negotiations say Trump has also been unmoved by the latest EU offer to reduce car tariffs, and would be happy to keep duties on the…

Silver (XAG/USD) is holding firm near $38.00 after hitting a 14-year high earlier this week.The metal remains supported by an ascending channel on daily and weekly charts.RSI and ADX on the daily chart are turning higher, signaling a possible return in bullish momentum.Silver (XAG/USD) is treading water on Friday, with spot prices hovering near $38.25 after marking a fresh 14-year high of $39.13 earlier this week. The metal continues to draw support from a firmly bullish structure, trading within a well-defined ascending channel on both the daily and weekly charts. While momentum has cooled slightly near multi-year highs, the broader…

Gold boosted as Fed’s Waller supports July rate cut, boosting Gold as yields decline.US Dollar Index slips to 98.48, enhancing appeal of Dollar-denominated Bullion.UoM survey shows improved sentiment and easing long-term inflation expectations.Gold price advances during the North American session on Friday as the US Dollar weakens, with traders booking profits ahead of the weekend. Additionally, a Fed Governor’s comments turned more dovish than expected, supporting a rate cut in July. At the time of writing, the XAU/USD trades at $3,353, up 0.43%.The market mood is upbeat after the University of Michigan (UoM) revealed that Americans have become optimistic about…

NZD/USD rebounds toward clustered resistance as New Zealand CPI looms.New Zealand inflation is expected to set the tone for the cautious RBNZ while dovish Fed Waller increases expectations of a September rate cut.NZD/USD approaches moving average resistance with price action vulnerable to upcoming CPI.The New Zealand Dollar (NZD) is strengthening against the US Dollar (USD) on Friday as investors reposition expectations of US interest rates and look ahead to New Zealand’s upcoming inflation data.At the time of writing, NZD/USD is trading near 0.5960 with intraday gains of 0.50%. New Zealand inflation is expected to set the tone for the cautious…

The US Dollar stabilizes after intraday selloff, supported by strong US data and tempered Fed interest rate cut expectations.US Treasury yields dip from recent highs, amplifying pressure on the Greenback.The technical setup on DXY indicates fading momentum below the 50-day EMA following a breakout from a falling wedge.The US Dollar is steadying after a brief selloff earlier in Friday’s session. The Greenback remains supported by robust US economic data this week, which has lowered the odds of immediate interest rate cuts by the Federal Reserve (Fed).The US Dollar Index (DXY), which tracks the Greenback against a basket of six major…

Gold price remains rangebound as rate expectations influence yields and bullion demand.Resilient US housing data and rising Michigan Sentiment data fail to lift the Dollar but risk-on sentiment limits gains for Gold.XAU/USD consolidation build between the $3,300 – $3,370 range.Gold (XAU/USD) is trading higher on Friday as investors remain focused on Fed expectations US economic data. At the time of writing, XAU/USD recovers above $3,350, pushing the price closer toward the upper boundary of a symmetrical triangle pattern.Traders are digesting fresh US housing data released on Friday, with Building Permits and Housing Starts for June providing further insight into the…

Japan’s upcoming elections and political risk add to USD/JPY price action.USD/JPY trades with view to risks of a double-top building.Monetary and fiscal policy remain key drivers for the USD/JPY pair. The Japanese Yen (JPY) is trading in a narrow range against the US Dollar on Friday, with monetary policy and political factors influencing the pair. At the time of writing, USD/JPY is trading above 148.00 as traders look ahead to Japan’s upcoming election.Risks from Japan’s election feature in USD/JPY price actionThe upcoming July 20 Upper House election in Japan has injected fresh uncertainty into currency and bond markets. Prime Minister…

Australian Dollar rebounds after Thursday’s sell-off triggered by weak jobs data.A softer US Dollar and falling Treasury yields ease pressure on the Aussie.US Michigan Consumer Sentiment beats expectations but fails to lift the Greenback.The Australian Dollar (AUD) is recovering lost ground on Friday after a sharp sell-off on Thursday, which was fueled by weaker-than-expected jobs data. The rebound is supported by a softer US Dollar and a rise in Australia’s 10-year government bond yield, which is easing pressure on the Aussie. Market sentiment remains cautious, however, as expectations grow for a potential interest rate cut by the Reserve Bank of…

The Dow Jones is struggling to stay in the green as it wraps up a wobbly trading week.UoM Consumer Sentiment Index figures showed US consumers are recovering from April’s tariff tilt.Key earnings misses on Friday are dragging the major equity index down for the day.The Dow Jones Industrial Average (DJIA) wobbled on Friday, testing fresh weekly highs on consumer sentiment and inflation expectations data. However, the Dow backslid after earnings misses in key overweight companies dragged the index sharply lower to round out the trading week.The University of Michigan’s (UoM) July Consumer Sentiment Index showed another recovery in aggregated survey…

The Pound Sterling’s (GBP) struggle to keep pace with the Euro (EUR) this year reflects a shift in market optimism in favour of Germany and the Eurozone. Chancellor Reeves will no doubt be joining businesses in celebrating if the BoE do lower rates again in August. For certain, she will welcome the positive implications of a loosening in monetary policy on the growth outlook, Rabobank’s FX analyst Jane Foley reports. BoE rate cut could offer temporary relief”That said, economists’ forecasts for relatively sluggish growth in both UK GDP and productivity this year suggest that Reeves is very unlikely to be…