The Euro (EUR) remains steady against the US Dollar (USD) on Friday after a softer-than-expected US Personal Consumption Expenditures (PCE) Price Index, which was close to the Federal Reserve’s (Fed) 2% goal, lifted the pair from daily lows of 1.1312.
Silver price turned negative on Friday during the North American session, poised to end the week with losses of over 1.80% as the dollar staged a recovery during the day. XAG/USD trades at $32.87, down 1.29%.
The Euro (EUR) is coming under renewed pressure against the Japanese Yen (JPY) as investors weigh persistent inflation in Japan against soft consumer and inflation data from the Eurozone.
Gold price slumped on Friday as the US Dollar recovered some ground despite witnessing a drop in US Treasury bond yields following a strong inflation report, which keeps traders hopeful that the US Federal Reserve (Fed) will ease policy in 2025. XAU/USD trades at $3,289, down 0.83%.
The concept of ‘US exceptionalism’ covers many specific themes. For academics it may have referred to the US’s ability to attract bright minds from around the world and generate cutting edge research.
CTAs will continue to sell crude and industrial metals (x-copper) in most scenarios for prices by this time next week. In the imminent term, CTA selling activity will continue to weigh on price action into the OPEC meeting, TDS' Senior Commodity Strategist Daniel Ghali notes.
Silver price (XAG/USD) is down almost 1% near the key level of $33.00 during North American trading house on Friday. However, the white metal strives to gain ground as renewed trade tensions between the United States (US) and China are limited the upside in the US Dollar (USD).