The Hang Seng climbed 226 points or 0.9% to end at 24,733 on Monday, snapping a four-session dip as all sectors gained. Traders looked ahead to developments on the U.S.-China trade truce, set to expire on August 12. Meanwhile, U.S. Treasury Secretary Bessent said Washington is optimistic about reaching a deal with China, following recent trade talks in Stockholm. Separately, China's top leaders pledged to support the economy and rein in "disorderly competition" during last week's Politburo meeting. Beijing also confirmed its fourth plenum will be held in October, likely focusing on the next...
West Texas Intermediate (WTI), the US crude benchmark, was trading around $78.85 on Thursday (16/1). WTI prices moved lower on improving prospects of a ceasefire between Hamas and Israel that could ease geopolitical tensions in the Middle East, weighing on WTI prices. According to an official, Israel and Hamas have agreed to a deal to halt fighting in Gaza and exchange Israeli hostages for Palestinian prisoners. An end to the conflict between Israel and Hamas would ease tensions in the Middle East and reduce the threat of disruption to crude supplies in the region. This, in turn, could hurt...
The EUR/USD pair held steady around 1.0295 during the early Asian session on Thursday (16/1). A cooler-than-expected US Consumer Price Index (CPI) inflation data for December raised bets that the US Federal Reserve (Fed) could cut interest rates twice this year, weighing on the greenback. However, growing concerns over the Eurozone economic growth may cap gains for the major currency pair. The US dollar (USD) fell after the US core CPI data came in weaker than expected, fueling expectations that the Fed's easing cycle may not be over yet. Markets now expect the US central bank to deliver 40...
Oil prices rose more than 2% on Wednesday, supported by a large draw in U.S. crude stockpiles and potential supply disruptions caused by new U.S. sanctions on Russia, while a Gaza ceasefire deal limited gains. Brent crude futures settled $2.11, or 2.64%, higher at $82.03 a barrel, the highest since August 2024. U.S. West Texas Intermediate crude (WTI) settled up $2.54, or 3.28%, at $80.04 a barrel, the highest since July. In post settlement trade, Brent rose to the highest since July and WTI gained more than $3 a barrel. U.S. crude oil inventories fell last week to their lowest since...
Gold traded higher mid-afternoon on Wednesday as the dollar and yields fell after a U.S. inflation measure rose more than expected last month. Gold for February delivery was last seen up US$35.80 to US$2,718.10 per ounce, the highest since Dec.11. The U.S. Bureau of Labor Statistics said the Consumer Price Index (CPI) rose by 0.4% in December, up from 0.3% in November and ahead of the consensus estimate for a rise of 0.3%, according to FactSet. Core CPI, excluding food and energy, rose 3.2% annualized, under the consensus outlook for a 3.3% rise. Though the Federal Reserve is still widely...
The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, is heading lower on Wednesday in the US Consumer Price Index (CPI) release aftermath. Numbers came in either in line or a touch softer than expected, which is perceived as disinflationary. Although it was not a stellar surprise as on Tuesday with the Producer Price Index (PPI), where all data points came in lower or at the lowest estimate, the CPI reading is enough to bring back that initial Federal Reserve rate cut for 2025 from September to July. For the remainder of this Wednesday all eyes will...