US President Donald Trump said late Wednesday that he would be willing to extend the trade talks deadline but doesn't think it will be necessary. Trump further stated that he will set unilateral tariff rates within two weeks.
The USD/CAD pair remains on the defensive around 1.3665 during the early Asian session on Thursday. The US Dollar (USD) weakens against the Canadian Dollar (CAD) due to poor US inflation data and rising bets of a Federal Reserve (Fed) rate cut in September.
The AUD/JPY failed to clear the 94.00 resistance level and dropped by over 0.56% on Wednesday, following a monthly high of 94.73, after an upbeat risk mood and a weaker-than-expected US inflation report. At the time of writing, the pair traded near 93.90, virtually unchanged.
Silver price reverses course on Wednesday as the North American session ends, edging down 0.87%. Although US inflation eased in May, typically a signal that would support rate cuts by the Federal Reserve (Fed) and weigh on the US Dollar, it failed to underpin the grey metal.
The EUR/USD surged during the North American session but remains shy of clearing the 1.1500 figure, following the release of a softer-than-expected inflation report in the United States (US), which could prompt the Federal Reserve (Fed) to reduce borrowing costs in the near term.
Straits Financial Services has expanded its technology partnership with Integral, extending operations to the SG1 data center in Singapore as it strengthens its presence in Asia’s fast-growing prec...
The Australian Dollar (AUD) is trading lower against the US Dollar (USD) on Wednesday, erasing earlier gains following the progress in US-China trade talks.
The Canadian Dollar (CAD) is holding close to multi-month highs against the US Dollar (USD) on Wednesday. The Loonie caught a thin boost from declining Greenback bids, with broad-market investor sentiment bolstered by a cooler-than-expected US Consumer Price Index (CPI).
The Mexican Peso (MXN) is trading at its strongest level in 10 months against the US Dollar (USD) on Wednesday, supported by improving risk sentiment and ongoing trade negotiations between Mexico and the United States.
Poor US inflation data and increasing bets of a Fed rate cut in September, coupled with the US-China trade agreement, kept the US Dollar on the defensive throughout the day.
Gold prices posted modest gained over 0.97% on Wednesday as the latest inflation report in the United States (US) revealed that prices are cooling. Hence, investors increased their bets that the Federal Reserve (Fed) would resume its easing cycle in September. The XAU/USD trades at $3,363.
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