US stocks closed higher on Friday, with the S&P 500 up 0.8%, and the Nasdaq climbing nearly 1%, while the Dow gaining 206 points. Technology shares, led by Apple which surged 4.2% following its announcement of a $600 billion US investment plan helped lift the tech-heavy Nasdaq to new intraday highs. Investor optimism was also fueled by expectations of Federal Reserve rate cuts, with President Trump nominating Stephen Miran to the Fed Board, signaling possible shifts in monetary policy, despite concerns over new tariffs imposed by the Trump administration on imports from multiple...
GBP/USD holds ground after registering losses in the previous two successive days, hovering around 1.2590 during the Asian session on Thursday. However, the pair faces pressure as concerns over tariffs from US President Donald Trump lent support to the US Dollar (USD). Trump has confirmed that a 25% tariff on pharmaceutical and semiconductor imports will take effect in April. Additionally, he reaffirmed that auto tariffs will remain at 25%, further escalating global trade tensions. Market participants are now focused on key US economic data, including weekly Initial Jobless Claims, the CB...
AUD/USD pair extends its decline to around 0.6340 during the early Asian session on Thursday. Fresh US President Donald Trump tariff threats continue to underpin the US Dollar (USD) and weigh on the pair. The strengthening of the Greenback is supported by concerns about escalating trade tensions. Last week, US President Donald Trump ordered his administration to consider imposing reciprocal tariffs on numerous trading partners. Late Tuesday, Trump said that he would likely impose tariffs of around 25% on foreign cars, while semiconductor chips and drugs are set to face higher duties. "So...
Gold edges higher in early Asian trade, as investors digest the Fed's latest policy meeting minutes. The precious metal appears to be supported by the central bank's minutes, with the Fed uncertain what the economic environment will look like in terms of inflation. Escalating trade tensions have also increased demand for safe-haven assets like gold, says Harbourfront Wealth - Sonora Wealth Group in a note. Trump's recent proposal to impose an additional 25% on auto imports has raised market volatility, with major economies including China expected to impose retaliatory measures, investment...
The USD/JPY pair moved lower near 151.90 during the North American session on Wednesday (2/19). The asset moved lower despite the US Dollar (USD) trading higher, with the US Dollar Index (DXY) rising near 107.20. The greenback strengthened as market sentiment turned slightly cautious following US President Donald Trump's tariff threats. On Tuesday, Donald Trump threatened to impose a 25% tariff on foreign imports of cars, pharmaceuticals, and semiconductors. Trump did not provide a timeframe for allowing local manufacturers to increase operating capacity. Market participants expect...
Oil prices held near one-week highs on Wednesday on concerns about supply disruptions in Russia and the U.S., as markets awaited clarity on sanctions as Washington tries to broker a deal to end the war in Ukraine. Brent crude futures rose 20 cents, or 0.3%, to settle at $76.04 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 40 cents, or 0.6%, to settle at $72.25. That was the highest close for both crude benchmarks since Feb. 11. "The market is trying to determine the three drivers that are bullish: Russia, Iran and OPEC," said BNP Paribas (OTC:BNPQY) commodity strategist...