U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Gold prices extended their decline during Asian trading on Wednesday as easing U.S. auto tariffs and positive trade signals reduced safe-haven demand. President Donald Trump signed two orders offering tax credits and tariff relief on auto materials, signaling a softer stance in ongoing trade disputes. U.S. Commerce Secretary Howard Lutnick also hinted at a major trade deal announcement, which buoyed market sentiment and weighed on gold.
Despite the dip, gold is poised for its fourth straight monthly gain, rising nearly 6% in April. As of 02:30 ET (06:30 GMT), spot gold was down 0.4% at $3,305.10 per ounce, while June gold futures fell 0.6% to $3,314.94.
Silver futures slid 1.3% to $32.855 an ounce, and platinum held steady at $979.05. The decline in precious metals comes as investors await crucial U.S. economic indicators to assess the Federal Reserve’s interest rate trajectory. Upcoming data includes the PCE price index—seen as the Fed’s preferred inflation gauge—monthly jobs report, and Q1 GDP figures.
On Tuesday, consumer confidence in the U.S. fell to its lowest level since May 2020, and JOLTS job openings dropped to 7.192 million in March from 7.48 million. Analysts say these figures, combined with trade developments, could influence the Fed’s "wait-and-see" policy stance.
Meanwhile, copper prices dropped following disappointing economic data from China, the world’s top copper consumer. China’s manufacturing PMI contracted to 49.0 in April from 50.5 in March, its first decline since December 2023. The slowdown is widely linked to ongoing U.S. tariffs on Chinese goods, currently set at 145%.
Copper futures on the London Metal Exchange slipped 0.5% to $9,379.55 a ton, while May contracts fell 1.5% to $4.7875 per pound.
