The Nikkei 225 fell 1.45% to close at 42,649, while the broader Topix dropped 1.1% to 3,058 on Thursday, as Japanese stocks pulled back from record highs amid profit taking. The market had rallied earlier in the week after softer US inflation data boosted expectations for a Federal Reserve rate cut next month. A strong earnings season in Japan and an improving global trade outlook also added to bullish sentiment. On the policy front, the Bank of Japan faces mounting pressure to abandon an inflation gauge tied to domestic demand and wage growth that has so far restrained further...
GBP/USD rose on Monday, buoyed by a broadly-underbid US Dollar and a latent recovery in Pound Sterling flows. The pair is knocking back into the 1.2700 handle, with price action continuing to get mired in the 200-day Exponential Moving Average (EMA). US President Donald Trump reiterated his threats to impose a 25% tariff package on Canada and Mexico on Monday, which are set to automatically go into effect at midnight EST Tuesday morning. Markets have gotten used to President Trump kicking the can on his own policy threats since taking office in January, but this time may turn out to be...
Gold price is rallying over 1% on Monday, snapping two days of losses as the Greenback gets battered due to safe-haven demand and falling United States (US) Treasury bond yields. Geopolitical tensions and tariff threats by US President Donald Trump increased demand for the safety appeal of Bullion. XAU/USD trades at $2,888 at the time of writing.Risk appetite deteriorated following the clash between US President Donald Trump and Ukrainian President Volodymir Zelenskyy last Friday. In the meantime, tariffs imposed on Mexico, Canada and China are expected to kick in on Tuesday. Data-wise,...
The US Dollar Index (DXY), which tracks the performance of the Greenback against a basket of six major currencies, is diving sharply on Monday as optimism surrounding a potential Ukraine peace deal weighs on safe-haven demand. European leaders have signaled their willingness to back security guarantees for Ukraine, boosting risk sentiment across global markets. Meanwhile, United States (US) economic data provided mixed signals. The ISM Manufacturing PMI missed forecasts, while the S&P Global Manufacturing PMI came in stronger than expected. As a result, DXY slides back from last week's...
Oil prices fell about 2% to a 12-week low on Monday on reports OPEC+ will proceed with a planned oil output increase in April and worries U.S. tariffs could hurt global economic growth and oil demand. Brent futures fell $1.19, or 1.6%, to settle at $71.62 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.39, or 2.0%, to settle at $68.37. Those were the lowest closes for Brent since December 6 and WTI since December 9. "Crude oil is under siege on multiple fronts and is vulnerable to the latest bearish headline or economic data," Bob Yawger, director of energy futures at...
Federal Reserve rate cut bets are still on the table for June. Gold price is slowely but surely making its way higher this Monday as President Trump remains silent on tariffs.Gold's price (XAU/USD) is set to revisit the high in the Asian session near $2,876 at the time of writing after a steady positive Monday thus far. Tariffs are still set to hit on Tuesday for Mexico and Canada and additional tariffs on China, they are not really triggering another flight into Gold. Traders will need to look for new headlines about tariffs, and there is still the chance that United States (US) President...