Hong Kong stocks fell 26 points, or 0.1%, to 24,711 on Tuesday morning, reversing gains from the previous session. Traders remained cautious after the city's weather bureau extended its highest "black" rain warning until 11:00 a.m., as heavy rain disrupted schools, hospitals, courts, and civil registry offices. The Hong Kong Stock Exchange remained open with revised policies that allow trading to continue regardless of the weather. Investors also cautiously awaited China's July trade data and upcoming inflation figures, amid concerns over rising trade barriers and weak domestic demand....
Silver (XAG/USD) price fell near $30.90 during the early European trading hours on Monday (03/1). Growing fears of a global trade war following US President Donald Trump's massive tariff measures boosted the US Dollar (USD) across the board and exerted selling pressure on the white metal. According to the 4-hour chart, the bullish outlook for the white metal remains intact, with the price holding above the key 100-period Exponential Moving Average (EMA). However, the Relative Strength Index (RSI) is hovering around the midline, suggesting that further consolidation cannot be ruled out. The...
The Australian Dollar (AUD) extends its losing streak against the US Dollar (USD) for the sixth consecutive session on Monday. The AUD/USD pair dropped around 2% amid risk-off sentiment following US President Donald Trump's decision to impose import tariffs on China, one of Australia's key trading partners. On Saturday, the US announced plans to implement 25% tariffs on Canadian and Mexican goods, while Chinese exports would face a 10% tariff, according to Bloomberg. These tariffs, set to take effect on Tuesday, will remain in place until the fentanyl overdose crisis is "resolved." In...
Gold price (XAU/USD) trims a part of its heavy Asian session losses and currently trades around the $2,785 region, still down nearly 0.60% for the day. US President Donald Trump's decision to impose tariffs on Canada, Mexico, and China lifts the US Dollar (USD) back closer to over a two-year high. This turns out to be a key factor that drags the commodity away from the all-time peak, around the $2,717 region touched on Friday. That said, bets that the Federal Reserve (Fed) will lower borrowing costs twice by the end of 2025, along with concerns about the potential economic fallout from...
The dollar index surged over 1% to around 109.8 on Monday, approaching two-year highs after President Donald Trump imposed sweeping tariffs on key trading partners over the weekend, raising concerns about a potential resurgence in inflation. The US introduced 25% tariffs on goods from Mexico and Canada and a 10% levy on imports from China. In retaliation, Canada announced its own tariffs, Mexico indicated it would explore levies on US imports, and China stated it would file a lawsuit with the WTO. In response to the tariff news, traders scaled back their bets on Federal Reserve interest...
The Japanese Yen (JPY) drifts lower against its American counterpart for the second straight day on Monday and moves away from over a one-month high touched last week. Concerns about the economic fallout from US President Donald Trump's trade tariffs to a large extent, overshadow the hawkish Bank of Japan (BoJ) Summary of Opinions and undermine the JPY. Apart from this, a broad-based US Dollar (USD) rally pushes the USD/JPY pair to the 156.00 neighborhood, or a four-day top during the Asian session. Meanwhile, a rise in Tokyo's core inflation by the fastest annual pace in nearly a year...