Summary: Japan’s government is trying to walk back and “de-risk” Prime Minister Sanae Takaichi’s weekend remarks that were widely interpreted as being comfortable with a weak yen. And also insensitive to Japanese people grappling with higher cost of living brought on somewhat by the lower yen driving up the JPY cost of imports. A government spokesperson refused to comment…
The GBP/USD pair trades on a flat note near 1.3695 during the early Asian session on Monday. Traders weigh what a Federal Reserve (Fed) under Kevin Warsh might look like. The US ISM Manufacturing Purchasing Managers Index (PMI) report will be published later on Monday. US President Donald Trump named Kevin Warsh to lead the US central bank. Markets anticipate Warsh…
Japan’s manufacturing sector returned to growth in January, posting its strongest improvement since 2022 as demand, output and hiring all rebounded. Summary: Japan’s manufacturing sector returned to expansion in January, recording its strongest improvement since August 2022. Output and new orders rose for the first time in well over a year, signalling a broad-based recovery in demand. Employment growth…
China’s President Xi Jinping said in an article published on Saturday in Qiushi that he has renewed calls for the Chinese Yuan to build a “strong currency” that can become widely used in international trade, investment and foreign exchange markets and reach the status of a global reserve. These remarks underscore Beijing’s long-term ambition to reduce reliance on the US Dollar…
Australia’s manufacturing sector started 2026 with stronger growth momentum, supported by rising orders, hiring, and improved confidence. Summary: Australia’s manufacturing sector expanded at a faster pace in January, marking a third consecutive month above the growth threshold. New orders strengthened sharply, including the first rise in export demand in five months, lifting production momentum. Employment growth accelerated to its…
Gold price (XAU/USD) extends its losses on Friday, plunges nearly 10% to sink below $4,900 after US President Donald Trump revealed his pick for Fed Chair, while a hot inflation reading in the US justified the Federal Reserve’s (Fed) decision on Wednesday to keep rates steady. The XAU/USD trades around the top/bottom of the $5,000 mark. Bullion plunges over…
As is usual for a Monday morning, market liquidity is very thin until it improves as more Asian centres come online … prices are liable to swing around, so take care out there. Not too much change from late Friday, USD mostly a tiny bit higher: I’ll be back with some weekend news soon … sneak preview, China PMIs…
Silver (XAG/USD) sinks sharply by more than 30% on Friday as the precious metals segment is being punished by the financial markets, with the grey metal falling more than $38 at the time of writing. XAG/USD trades at $76.91, after reaching a daily high of $118.46. XAG/USD Price Forecast: Technical outlook As it plunges, Silver cleared key support levels…
Last week’s “yo-yo” dollar chaos ended with Warsh’s Fed nomination triggering gold’s brutal 7% collapse. This week: three central bank decisions and Friday’s critical US jobs report.
FUNDAMENTAL OVERVIEW The strong bullish momentum seems to have waned for precious metals and silver is getting hit the most given its smaller market compared to gold. It’s not clear what caused yesterday’s drop as pretty much all markets went down at the same time. There were only talks of multiple US warships arriving in the Middle East but…
