Live Commentary

Gold trades flat above $3,350 as the US Dollar stabilizes on Monday. The soft July NFP report has heightened market bets on a potential interest rate cut in September. Fears of political interference grow after US President Donald Trump fires BLS Commissioner Erika McEntarfer.

The Pound Sterling exhibits strength against the US Dollar near 1.3300 as soft US NFP data on Friday boosted Fed dovish bets. The US economy added 73K fresh workers in July, lower than estimates of 110K. Investors expect the BoE to cut interest rates on Thursday.

The Dollar holds marginal gains with investors cautious amid growing trade uncertainty. Risk appetite remains subdued as the trade talks with the European Union and Japan remain stalled. The DXY trades 0.15% above Monday’s lows, but still 1% below last week’s highs. against

Gold gains over 1% as EU-US trade tensions flare, triggering demand for safe-haven bullion. US Dollar weakens as the European Union sets up a framework for retaliatory measures against the US. XAU/USD rises above triangle resistance as bulls eye psychological resistance at $3,400.

The Pound Sterling ticks up against its major peers as UK inflation grew at a faster-than-expected pace in June. Investors shift their focus to the UK labor market data for the three-months ending May. The US CPI report showed that Trump’s tariffs have started feeding into consumer prices.

The Euro ticks up from lows but maintains its broader bearish trend intact. Hopes of progress on the Eurozone-US trade talks are providing some support to the Euro. EUR/USD is moving within an expanding wedge, a potentially bearish formation.

The US Dollar starts the week higher, supported by safe-haven flows amid tariffs fears. The US is set to formally notify over 100 countries of new tariffs by July 9, with implementation scheduled for August 1. The US Dollar (DXY) rises back inside a falling wedge pattern, with RSI and MACD showing signs of bullish momentum building.

The Australian Dollar falls amid renewed US tariff concerns. Australia’s ANZ Job Advertisements rose 1.8% in June following a decline of 1.2% in May. US Treasury Secretary, Scott Bessent, noted that US tariffs could be rolled back to April 2 levels on August 1.

Gold price firms on renewed US tariff threats ahead of the July 9 deadline. The US Dollar trades lower as President Trump's "Big, Beautiful, Bill" heads to the White House on Independence Day. XAU/USD remains conflicted as prices remain within the confines of a symmetrical triangle.

The Pound Sterling drops even as UK Chancellor Reeves rules out speculation that she is stepping down. UK’s new welfare bill is expected to lead to an increase in taxes or spending cuts. The US Dollar underperforms as Trump’s tariff deadline expires on July 9.