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...
AUD/USD attracted buyers on Friday after President Trump suggested a trade agreement with China remains within reach, reinforcing a risk-on mood. The pair advances to 0.6315, heading for its first weekly gain in three weeks. Meanwhile, renewed speculation regarding additional Federal Reserve (Fed) rate cuts in 2025 continues to undermine the US Dollar, providing an added lift to the Aussie.The Greenback falls to a one-month trough as markets price in the prospect of further Fed easing by year-end. In addition, President Trump's statements about immediate interest rate cuts contribute to the...
The dollar fell on Friday and was on track for its worst week in more than a year on expectations that tariffs enacted by U.S. President Donald Trump will be lower than previously feared and unlikely to spur an international trade war. The prospect of high tariffs on goods from countries including China, Canada, Mexico and the euro zone have raised concerns about a renewed bout of inflation, which has helped to send Treasury yields and the U.S. dollar higher in recent months. But that move partially reversed this week as traders bet that tariffs may not be as large or as widespread as...
The USD/CHF pair remains on the defensive around 0.9045 during the early European session on Friday, pressured by the weaker US Dollar (USD) broadly. Traders will closely monitor the flash US S&P Purchasing Managers Index (PMI) for January, which is due later on Friday. During a virtual address to the World Economic Forum in Davos, Switzerland, US President Donald Trump on Thursday called for a drop in interest rates after asking for a reduction of oil prices set by a group of nations known as OPEC, which includes Saudi Arabia. "With oil prices going down, I'll demand that interest rates...
Crude oil prices were little changed on Friday (1/24) but headed for a weekly decline after U.S. President Donald Trump unveiled a sweeping plan to increase U.S. production and demanded that OPEC lower crude prices. Brent crude futures were up 6 cents at $78.35 a barrel by 0745 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 4 cents at $74.66. For the week, Brent is down 3.07% so far, and WTI is down 4.17%. "Crude oil prices have eased so far this week, as investors trimmed their war premiums after the Gaza ceasefire while bracing for a shift in Trump's energy policy,"...
The AUD/USD pair broke out of a two-day-old consolidative trading range and climbed to its highest level in over a month, around the 0.6330 region on the last day of the week. The spot prices maintained their intraday positive bias through the first half of the European session, with bulls now awaiting a move beyond the 50-day Simple Moving Average (SMA) before positioning for any further gains amid broad-based US Dollar (USD). The USD Index (DXY), which tracks the greenback against a basket of currencies, fell to a one-month low amid bets that the Federal Reserve (Fed) will lower borrowing...