European stocks closed sharply higher on Wednesday, their highest in two weeks as the outlook of lower interest rates in the United States and the possibility of lower energy prices supported a backdrop of stronger growth in the bloc. The STOXX 50 gained 1% to 5,390 and the STOXX 600 jumped 0.6% to 551. The heavyweight sectors of banks, luxury, and tech were among the largest gainers of the session with Intesa Sanpaolo, LVMH, Kering, SAP, and Prosus jumping between 4% and 1.5%. Healthcare also closed sharply higher following their volatile momentum in the first half of the month, with...
Oil rose on Monday as upbeat manufacturing data from China, the world's biggest crude importer, led to renewed optimism for fuel demand, although uncertainty about a Ukraine peace deal and global economic growth from potential U.S. tariffs loomed. Brent crude climbed 36 cents, or 0.5%, to $73.17 a barrel by 0439 GMT while U.S. West Texas Intermediate crude was at $70.10 a barrel, up 34 cents, or 0.5%. Prices rose after official data on Saturday that showed that China's manufacturing activity expanded at the fastest pace in three months in February as new orders and higher purchase volumes...
Silver price (XAG/USD) rebounds after two consecutive days of losses, trading around $31.30 per troy ounce during Asian market hours on Monday. The precious metal benefits from safe-haven demand amid concerns over US President Donald Trump's tariff policies. Over the weekend, Trump announced an additional 10% tariff on Chinese imports, effective Tuesday, following a similar 10% tariff imposed last month. Additionally, on Thursday, he stated via Truth Social that 25% tariffs on Canadian and Mexican goods will take effect on March 4. In response, China is considering countermeasures,...
The EUR/USD pair attracts fresh buyers at the start of a new week and for now, seems to have snapped a three-day losing streak to over a two-week low, around the 1.0360 area touched on Friday. The momentum lifts spot prices further beyond the 1.0400 mark during the Asian session and is sponsored by a weaker US Dollar (USD). From a technical perspective, the EUR/USD pair showed some resilience below the 50% Fibonacci retracement level of the rally witnessed in February. The subsequent move above the 38.2% Fibo. level suggests that the pullback from the 1.0525-1.0530 area, or a one-month...
WTI crude oil futures rose to around $70.3 per barrel on Monday, buoyed by strong manufacturing data from China, the world's largest crude importer, as well as lingering U.S.-Ukraine tensions that could sustain supply disruptions. Data released on Saturday showed that China's manufacturing activity rose to a three-month high in February, fueling optimism about increased fuel demand. Additionally, the recent clash between Ukrainian President Volodymyr Zelenskyy and U.S. President Donald Trump added uncertainty on the prospects of a Russia-Ukraine peace deal. This raises the likelihood that...
The Japanese Yen (JPY) touches a one-week low, around the 151.00 mark against its American counterpart during the Asian session on Monday, though the downside remains limited amid hawkish Bank of Japan (BoJ) expectations. In fact, investors have been pricing in the possibility of more interest rate hikes by the BoJ, which pushed the yield on the benchmark 10-year Japanese government bond (JGB) to its highest level since November 2009. Apart from this, the emergence of some US Dollar (USD) selling acts as a headwind for the USD/JPY pair. Meanwhile, BoJ Governor Kazuo Ueda warned last week...