Latest news with #USdata
Reuters
2 days ago
- Business
- Reuters
Gold holds firm as markets await US payroll data for direction
June 5 (Reuters) - Gold prices remained stable on Thursday as investors assessed weaker-than-expected U.S. data and ongoing global economic and political uncertainties, while looking ahead to U.S. payroll data for further economic cues. Spot gold was steady at $3,372.82 an ounce, as of 0210 GMT. U.S. gold futures edged down 0.1% to $3,395.50. "Like most markets at present, gold finds itself in a holding pattern and at the whim of Trump's trade headlines — supported, yet hesitant to trade above this week's high," said Matt Simpson, a senior analyst at City Index. "Volatility is also suppressed while we await comments from FOMC members and Friday's NFP report ... If anything, it points to a stronger jobs change figure, which could weigh on gold." The U.S. services sector contracted in May for the first time in nearly a year, as businesses faced higher input costs amid growing fears of stagflation. Gold gained support after the Federal Reserve reported a slowdown in U.S. economic activity, citing rising costs and prices driven by increased tariff rates since the last policy meeting. Bullion gained additional momentum after U.S. President Donald Trump reiterated his call to Fed Chair Jerome Powell on Wednesday to cut interest rates. The ADP National Employment Report showed that U.S. private employers added in May the fewest number of workers in more than two years, with investors awaiting Friday's nonfarm payrolls report for further clues on the labor market. Trump's doubling of tariffs on steel and aluminum imports took effect, with his administration seeking "best offers" from trade partners to avoid further levies slated for July. Trump described Chinese President Xi Jinping as "extremely hard to make a deal with," highlighting tensions ahead of a long-awaited call between the two leaders this week. Gold, a safe-haven asset during times of political and economic uncertainty, tends to thrive in a low-interest-rate environment. Elsewhere, spot silver fell 1.3% to $34.51 an ounce, platinum rose 0.9% to $1,093.07 and palladium was steady at $1.001.70.
Reuters
09-05-2025
- Business
- Reuters
Business Lookahead: The deal is on
From Trump's first Middle East trip to a flurry of U.S. data, these are the stories to watch in business and finance in the coming week.
Yahoo
07-05-2025
- Business
- Yahoo
Citi CEO Fraser on Eco Data, Client Engagement, Fed
Citi CEO Jane Fraser discussed the gap between hard and soft US data, "tremendous" client engagement, difficulties for the Federal Reserve, and the growing pipeline for deals. Fraser spoke with Sonali Basak on the sidelines of The Milken Institute Global Conference in Beverly Hills, California.
