Wall Street's main indexes opened higher on Monday after a sharp pullback in the previous session, as markets priced in prospects of deeper rate cuts by the Federal Reserve following a surprisingly soft jobs report. The Dow Jones Industrial Average (.DJI), opens new tab rose 135.4 points, or 0.31%, at the open to 43724.02. The S&P 500 (.SPX), opens new tab rose 33.7 points, or 0.54%, to 6271.71, while the Nasdaq Composite (.IXIC), opens new tab rose 203.8 points, or 0.99%, to 20853.907. Source: Reuters
The Pound Sterling (GBP) surges to near 1.2320 against the US Dollar (USD) in Monday's North American Session. The GBP/USD pair strengthens as the US Dollar nosedive soon after reports from the Wall Street Journal (WSJ) showed that there won't be tariff hikes on the first day of President Donald Trump at the White House. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, plummets to near 108.30According to the WSJ, the presidential memo directs federal agencies to study trade policies and evaluate US trade relationships with China and America's...
Gold prices steadied Monday as traders cautiously awaited US President-elect Donald Trump's inauguration speech, anticipating insights into his administration's policies and potential signals on future interest rates.Traders brace for volatility with incoming Trump administrationGold traders are bracing for increased volatility as Trump begins his second term, with his anticipated policy announcements expected to influence market dynamics. The precious metal, traditionally viewed as a safe-haven asset, has seen prices stabilize near a one-month peak, bolstered by subdued US inflation data...
The US Dollar Index (DXY), which tracks the value of the Greenback against six major currencies, traded lower and nearly broke below 109.00 on Monday (1/20) ahead of President-elect Donald Trump's inauguration as the 47th President of the United States (US). Several asset classes in the US will remain closed, such as Wall Street trading and US Treasury trading, in observance of Martin Luther King Day. This means volatile movements could occur in markets with thin liquidity. All eyes will be on the post-inauguration, with President-elect Donald Trump having confirmed at a rally on Sunday...
EUR/USD rose sharply to near 1.0300 in Monday's European session. The major currency pair gains as the safe-haven appeal of the US Dollar (USD) diminishes ahead of United States (US) President-elect Donald Trump's inauguration. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, declines to near 109.00. The Greenback faces pressure as investors digest the assumption that Trump will declare a national emergency soon after taking office. This move would allow him to boost domestic energy production and reverse some climate change policies executed under...
Oil prices fell on Monday as expectations that U.S. President-elect Donald Trump will ease restrictions on Russia's energy sector in return for a deal to end the Ukraine war offset concerns about supply disruptions from tougher sanctions. Brent crude futures fell 28 cents, or 0.35%, to $80.51 a barrel by 0739 GMT after closing down 0.62% in the previous session. The more active U.S. West Texas Intermediate crude for April delivery fell 21 cents to $77.18 a barrel. The front-month contract, which expires on Tuesday, was unchanged at $77.88 a barrel after closing down 1.02% on...