European shares closed higher on Monday, rebounding from six-week lows as a surge in banking stocks offset a decline in Swiss shares following a hefty 39% U.S. tariff on Swiss goods. The pan-European STOXX 600 index, rose 0.9%, with most major regional markets, barring Swiss stocks, rebounding from Friday's sharp losses, when worries about tariffs and a weak U.S. jobs report hammered sentiment. The German DAX climbed 1.4%, France's CAC 40 rose 1.1% and Britain's FTSE 100 added 0.7%. Zurich's SMI index dipped 0.2% as trading resumed following a long weekend. Switzerland was left stunned on...
The dollar index climbed above 107.8 on Tuesday, rebounding from six-week lows as President Donald Trump ramped up his tariff threats. Trump announced plans to impose tariffs on imported computer chips, pharmaceuticals, and steel, aiming to encourage domestic production of these goods. Traders also became more cautious as the February 1 deadline for the first round of tariffs, as previously outlined by the President, draws near. Meanwhile, the Federal Reserve began its two-day policy meeting on Tuesday, with expectations that it will hold interest rates steady despite Trump's calls for...
WTI crude oil futures hovered around $73.2 per barrel on Tuesday after a sharp decline in the previous session, as traders remain focused on President Donald Trump's wide-ranging set of tariffs. Trump said he'd impose tariffs on foreign-produced goods such as steel, aluminum, and copper in the near future, raising concerns over the potential ripple effects on global demand for commodities. Additionally, his Treasury Secretary, Scott Bessent, is reportedly backing gradual universal tariffs on U.S. imports starting at 2.5%. On Monday, crude prices slipped 2% amid a broad risk-off trade led...
The Australian Dollar (AUD) continues to decline for the second consecutive day against the US Dollar (USD) on Tuesday. The AUD/USD pair's weakness can be linked to tariff threats made by US President Donald Trump. The risk-sensitive AUD also faced challenges amid increased risk aversion due to news on growing momentum among US President Donald Trump's advisers to place 25% tariffs on Mexico and Canada as soon as February 1. President Trump announced plans on Monday evening to impose tariffs on imports of computer chips, pharmaceuticals, steel, aluminum, and copper. The goal is to shift...
Gold price slid over 1% late on Monday during the North American session, sparked by a broader market sell-off spurred by interest in Chinese AI company DeepSeek. The yellow metal has failed to gain traction as US Treasury bond yields plunge, though the Greenback pared some of its losses, yet below the 108.00 figure. The XAU/USD trades at $2,738 after hitting a daily high of $2,772 Source: FXStreet
AUD/USD declined at the start of the week towards 0.6270 as US Dollar (USD) gains evaporated following signs that United States (US) friction with Colombia could be cooling. Meanwhile, the Federal Reserve (Fed) is widely anticipated to keep interest rates unchanged this week, with traders searching for any insight into policymakers' stance amid ongoing calls from President Donald Trump for immediate cuts. The Australian Dollar (AUD), however, faces headwinds ahead of the release of domestic inflation data, which will determine the Reserve Bank of Australia's (RBA) February rate decision.The...