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Gold (XAU/USD) prints back-to-back days of gains, up over 0.50% as the US Dollar extends its losses amid Japan’s intervention in the market and amid news that Iran submitted a new proposal drove Oil prices lower. At the time of writing, the XAU/USD pair trades at $4,643 after bouncing off daily lows of $4,560.Bullion gains as Iran proposal cools oil, but Fed hawks cap upsideWall Street trades in positive territory amid news that Iran sent a proposal to the US via Pakistan, which weighed on Oil prices, with WTI seen trading at $101.91 per barrel, down over 3% on the…

Dow Jones Industrial Average (DJIA) futures traded above 49,800 in overnight and pre-market action, building on a near 1,500-point rally from Thursday morning’s lows around 48,500 and pressing toward the 50,000 mark for the first time. S&P 500 futures held firmly above 7,200 after the cash index closed at a fresh record yesterday, locking in its strongest monthly performance since 2020. Nasdaq Composite futures pointed to a continuation of Thursday’s tech-led gains, with the Dow itself coming off its strongest month since November 2024. The risk tone is being driven by hopes that Iran’s latest diplomatic offer can wind down…

The US Dollar Index (DXY) fell to a two-week low near the 98.00 price zone on Friday, extending the losses seen the previous day and ending a week in which the world’s most important central banks confirmed a hawkish shift due to rising inflation pressures. Next week, traders’ attention will remain focused on any development regarding potential negotiations between the US and Iran, as well as a streak of US employment data that will culminate with Nonfarm Payrolls.The economic calendar was light on Friday as many markets around the world were closed due to the Labor Day holiday. Still, in…

Donald Trump, United States President, announced on Friday through Truth Social a new round of tariffs on the European Union (EU) for cars and trucks.I am pleased to announce that, because the European Union is not complying with our fully agreed-upon Trade Deal, next week I will be increasing tariffs on cars and trucks imported into the United States from the European Union. The Tariff will be increased to 25%. It is fully understood and agreed that, if they produce Cars and Trucks in the USA. Plants, there will be NO TARIFF. Many Automobile and Truck Plants are currently under…

West Texas Intermediate (WTI) crude Oil eases on Friday, trimming part of the strong gains registered earlier this week as renewed diplomatic efforts to end the US-Iran war lift market sentiment. At the time of writing, WTI is trading around $99, down over 3% on the day and pulling back from a seven-week high near $107.35 reached on Thursday.The latest leg lower comes as reports suggest Iran has submitted a new proposal through Pakistani mediators in response to the latest US amendments, following Washington’s rejection of an earlier Iranian offer that proposed leaving nuclear negotiations for a later stage. While…

Silver (XAG/USD) trades around $76.00 on Friday at the time of writing, up 3.05% on the day, supported by renewed demand despite a macroeconomic backdrop that remains challenging for non-yielding assets.The white metal benefits from a rebound after consolidating earlier in the week, as investors reassess the outlook for monetary policy in the United States (US). The Federal Reserve (Fed) kept interest rates unchanged within the 3.5%-3.75% range at its latest meeting, a decision widely expected by markets. However, internal divisions within the committee, with several members opposing an easing bias, reinforce the view that restrictive policy may persist for…

USD/JPY turns flat in the day after diving to a daily low of 155.48 during Friday’s session, in the aftermath of two straight days of Japanese authorities intervening in the FX markets to strengthen the Yen, which had weakened past the 160.00 figure. The pair trades at 156.67, flattish.USD/JPY holds flat as Tokyo action fades and US jobs data looms nextOn Thursday, Japanese authorities intervened in the FX markets. Data from the Bank of Japan on Friday revealed that it spent as much as $35 billion USD, slightly below the $36.8 billion used in the July 2024 intervention.Meanwhile, traders cheered…

Gold (XAU/USD) edges lower on Friday, heading for a second straight weekly decline as higher-for-longer interest rate expectations continue to dominate price action amid rising inflation concerns driven by elevated Oil prices. At the time of writing, XAU/USD is trading around $4,577, hovering just above the one-month low of $4,510 reached earlier this week.Higher energy costs have already pushed inflation higher across major economies since the US-Iran war began, prompting central banks to reassess the monetary policy path. Major central banks, including the Federal Reserve (Fed), European Central Bank (ECB), Bank of England (BoE) and Bank of Japan (BoJ), kept…

The US Dollar (USD) remains practically flat against the Swiss Franc (CHF) on Friday, wavering within a few pips above 0.7800, on track for a 0.35% weekly loss after dropping from highs above 0.7900 the previous day. The softer-than-expected Swiss Retail Sales data have failed to impact the pair, while an alleged intervention by Japanese authorities to stem Yen weakness has hit the Greenback across the board.The Swiss Federal Statistics Office revealed on Friday that retail consumption year-on-year rose 0.5% in March, slightly above the 0.4% growth seen in February, but well short of the 1% increase forecasted by market…

The Indian rupee closed at a record low of 94.90 against the dollar on Thursday after touching an all-time intraday low of 95.33/$. The currency pared some of its losses in the final half-hour of trade, likely aided by intervention from the Reserve Bank of India, as the central bank is seen keen to prevent the rupee from closing beyond the psychologically important 95/$ mark, traders said. The rupee had previously closed at 94.85/$The currency, in what was a very volatile session, traded in a range of nearly 50 paise, between 95.35/$ and 94.86/$, very different from its usual 20-25…