European stocks continued their gains for a second consecutive session on Tuesday (June 5), with the STOXX 50 and STOXX 600 rising 0.4%. Investors continued to shift their focus to corporate earnings while closely monitoring global trade developments. Meanwhile, market participants are increasingly anticipating a potential interest rate cut by the Fed. In the corporate sector, BP shares rose 1.1% after the oil major reported better-than-expected second-quarter earnings. Diageo jumped 6% after reaffirming its full-year forecast, while DHL jumped 5% following a solid profit...
DXY remains under pressure, testing 107.35 support despite upbeat ADP and S&P Global PMI data.ISM Services PMI disappoints, signaling weaker-than-expected service sector growth and moderating price pressures.US 10-year yield rebounds, hovering around 4.40% after touching a yearly low.The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of currencies, struggled to recover losses on Wednesday and declined against most major peers. Despite stronger than expected ADP Employment and S&P Global PMI data, the ISM Services PMI fell short of forecasts, casting doubt...
Aussie nears 0.6300 amid cautious optimism on Wednesday.Investors eye possible February rate cut from RBA.Mid-tier US data came in mixed and weighed on the USD.The Australian Dollar (AUD/USD) edges toward 0.6300, buoyed by mixed United States data that softened the Greenback and lifted broader risk assets. Nonetheless, anticipation of a dovish Reserve Bank of Australia (RBA) move next month tempers upside potential. Ongoing US-China trade tensions further cloud the outlook, restraining a more decisive rally in the Aussie.President Donald Trump's additional tariff on Chinese imports remains...
Silver price gives up a majority of intraday gains after the release of the upbeat US private employment data for January.Strong labor demand would force the Fed to maintain the status quo for longer.Investors expect the trade war would be limited between the US and China.Silver price (XAG/USD) surrenders almost its entire intraday gains and falls back to near $32.00 in Wednesday's North American session. The white metal faces selling pressure as the US Dollar (USD) attempts to gain ground on the back of upbeat United States (US) ADP Employment Change data for January. The US Dollar Index...
Gold rose further to surpass the $2,860 per ounce mark in February, a fresh record, tracking the gains for US Treasuries amid growing expectations of lower interest rates and lingering concerns of geopolitical risk and barriers to global trade. US services sector activity tracked by the ISM rose less than expected in January and prices faced by firms decelerated. Consequently, rate traders increased positions that reflect two rate cuts by the Federal Reserve this year, aligning with the last FOMC projections. Also, the ECB and the BoC lowered rates with the latter ending quantitative...
Iran's President Masoud Pezeshkian has called for solidarity among OPEC members in response to potential U.S. sanctions that could target the country's oil exports. This appeal came after U.S. President Donald Trump announced intentions to renew his "maximum pressure" campaign on Iran, which could significantly impact global oil supply. At a meeting with OPEC Secretary General Haitham Al Ghais, Pezeshkian stressed the importance of unity within the organization to withstand possible U.S. sanctions. The Iranian president highlighted that collaborative efforts could prevent the U.S. from...