Gold attracts buyers for the second straight day amid concerns about a global trade war. Bets that the Fed would cut rates further lend support to the non-yielding yellow metal. Rebounding US bond yields and a modest USD uptick do little to cap the XAU/USD pair. Gold price (XAU/USD) builds on the previous day’s modest … Read more
USD/CAD gathers strength to around 1.4205 in Tuesday’s early European session. The pair keeps the negative view below the 100-period EMA with the bearish RSI indicator. The first downside target to watch is 1.4151; the immediate resistance level emerges near 1.4265. The USD/CAD pair trades in positive territory near 1.4205 during the early European session … Read more
Gold prices rose in Pakistan on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 26,155.87 Pakistani Rupees (PKR) per gram, up compared with the PKR 26,047.90 it cost on Monday. The price for Gold increased to PKR 305,076.90 per tola from PKR 303,817.60 per tola a day earlier. Unit measure … Read more
The Reserve Bank of Australia (RBA) board members decided to lower the Official Cash Rate (OCR) by 25 basis points (bps) from 4.35% to 4.1% following the conclusion of its February policy meeting on Tuesday. The decision matched the market expectations. Summary of the RBA monetary policy statement Inflation and GDP have been softer than expected, … Read more
NZD/USD remains under pressure near 0.5710 in Tuesday’s Asian session. RBNZ is set to lower its OCR by 50 bps to 3.75% on Wednesday. The escalating trade war might boost the US Dollar. The NZD/USD pair attracts some sellers to around 0.5710 during the early Asian session on Tuesday. The rising expectation that the Reserve Bank … Read more
British Prime Minister Keir Starmer said late Monday that any Ukraine peace deal would require a “US backstop” to deter Russia from attacking its neighbor again, per Reuters. Key quotes A US security guarantee was the only way to effectively deter Russia. The future of Ukraine is an existential issue for Europe. It is pressing that … Read more