The Hang Seng closed almost flat at 24,911 on Wednesday after dipping slightly in morning deals. Traders digested comments from President Trump, who said the U.S. was close to a trade deal with China and that he would meet President Xi before year-end if an agreement is reached. Investors also looked ahead to key Chinese economic data, including trade figures on Thursday and inflation on Saturday, amid concerns over rising trade barriers and persistent deflation risks. At the same time, markets braced for a possible new U.S. tariff announcement targeting semiconductors and chips, expected...
Oil prices were steady on Tuesday as traders digested another round of trade tariffs, this time a 25% levy on all U.S. imports of steel and aluminium, which could weigh on global economic and energy demand in the world's biggest oil consumer. Brent crude futures were up 11 cents, or 0.14%, at $75.98 a barrel by 0128 GMT, while U.S. West Texas Intermediate crude rose 5 cents or 0.07% to $72.37. President Donald Trump substantially raised tariffs on steel and aluminium imports to the U.S. on Tuesday to a flat 25% "without exceptions or exemptions" to aid the struggling industries that could...
Gold is higher in the early Asian session, aided by prospects of demand for the precious metal as a hedge against inflation. U.S. President Trump on Monday announced global 25% tariffs on imports of steel and aluminum to the U.S. Key commodities including gold have absorbed the latest round of inflation-inducing measures of the Trump administration, says Matt Simpson, market analyst at FOREX.com and City Index. Gold's daily chart shows a strong bullish trend which appears averse to any meaningful pullback greater than a day, Simpson adds. Spot gold is 0.3% higher at $2,916.41/oz. Source :...
Gold hit a record high after President Donald Trump imposed 25% tariffs on all U.S. steel and aluminum imports, adding to uncertainty across global markets that has boosted demand for precious assets. Bullion hit an all-time peak above $2,921 an ounce — after jumping 1.7% in the previous session. Trump said Monday that the levies, which take effect March 4, will help boost domestic production and bring more jobs to the U.S., and warned that tariffs "may go higher." The precious metal has surged 11% this year, hitting a series of records, as Trump's disruptive moves on trade and geopolitics...
Oil steadied after its biggest gain in nearly four weeks as tighter Russian crude supplies overshadowed concerns about the impact of President Donald Trump's expanded tariffs. West Texas Intermediate traded above $72 a barrel after rising nearly 2% on Monday, while Brent settled below $76. Russian data showed production last month fell further below the country's OPEC+ quota. Soaring European natural gas prices have also made burning oil more cost-effective, potentially boosting demand for crude. President Trump ordered 25% tariffs on steel and aluminum imports in a sign of a growing trade...
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, is trading softer near 108.30 as investors react to mixed economic data and fresh tariff concerns. Market participants are also turning their focus to Federal Reserve (Fed) Chair Jerome Powell's upcoming testimony before Congress for guidance on future interest rate policy. The US Dollar Index remains under pressure, struggling to hold above 108.00 as sellers continue to dominate. The Relative Strength Index (RSI) remains below 50, indicating growing bearish momentum, while the DXY holds...