US services sector growth slows in April. Inflationary pressures surge to a 2-year high, driven by trade tariffs. Stalling momentum and stagflation risks loom.
Buffett said the fiscal policy of the U.S. scares him because it's made the way it is and all the motivations are to doing a lot of things that can cause trouble with money.
US markets closed higher as strong earnings, trade developments, and recession concerns were weighed. DJIA up 0.75%, S&P 500 up 0.58%, Nasdaq up 0.55%.
Wall Street divided on dollar's future. Wells Fargo bullish, Goldman Sachs bearish. Dollar hit high short positions, oversold, due to US policy uncertainty.
US markets closed mixed on Monday, with tech earnings and trade negotiations causing caution. Data showed TX manufacturing weakening. Asian markets mostly up.
The EUR/GBP cross extends its downside to near 0.8490 during the early European session on Tuesday. The Euro (EUR) softens against the Pound Sterling (GBP) due to the dovish remarks from the European Central Bank (ECB).
Gold price (XAU/USD) struggles to capitalize on the previous day's bounce from the vicinity of the $3,265-3,260 pivotal support and attracts fresh sellers during the Asian session on Tuesday.
The Gold price (XAU/USD) loses ground to around $3,335 during the early Asian session on Tuesday. The yellow metal edges lower amid a modest rebound of the US Dollar (USD) and a softening in tensions between the United States and China.
The EUR/USD pair edges lower to near 1.1415 during the early Asian session on Tuesday. The Euro (EUR) weakens against the US Dollar (USD) amid rising bets for further rate cuts from the European Central Bank (ECB) in June.
Stocks came in wobbly, and went up and down in their usual willful way. Gold and silver sustained an early smackdown, but in the end gained some ground.
The US Dollar (USD) weakens slightly on Monday as markets kick off a busy week, overshadowed by skepticism surrounding United States (US) trade policy.
