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Daily market news covering forex, gold, indices, and commodities for UAE and GCC traders.
XAU/USD surged past $2,400 per ounce this week as investors increased bets on Federal Reserve rate cuts in the second half of 2025, weakening the US dollar and boosting demand for the safe-haven metal.
The Euro held firm against the US Dollar ahead of Thursday's European Central Bank meeting, with markets widely expecting the ECB to maintain its current rate stance after mixed eurozone inflation data.
Minutes from the Federal Reserve's last meeting showed most officials believe current monetary policy is restrictive enough, but they need more evidence inflation is on a sustained path to 2% before cutting rates.
Sterling rose to its highest level against the US dollar in three weeks after UK employment data showed the unemployment rate held steady at 4.3%, easing pressure on the Bank of England to cut rates soon.
Crude oil steadied near $78 per barrel after OPEC+ agreed to extend voluntary production cuts of 2.2 million barrels per day through the end of Q3 2025, providing a floor for prices amid demand uncertainty.
The US Dollar pulled back sharply from the 160.00 level against the Japanese Yen after verbal warnings from Japanese officials signalled a higher probability of direct currency market intervention by the Bank of Japan.
The US Dollar Index (DXY) faces a critical week with US CPI, Retail Sales, and Federal Reserve speakers all scheduled. Here are the key levels and scenarios traders should monitor.
Gold maintains a bullish structure on the weekly chart with a series of higher highs and higher lows. The $2,380–$2,400 zone is now acting as key support, while bulls look to break the $2,450 resistance for a continuation move.
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