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...
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $30.09 per troy ounce, up 0.64% from the $29.90 it cost on Tuesday. Silver prices have increased by 4.13% since the beginning of the year. Source: FXstreet
Silver prices held steady near $30 an ounce on Wednesday as investors awaited a key US inflation report that could influence the Federal Reserve's interest rate decision later this month. Earlier this week, silver faced downward pressure as stronger-than-expected US jobs data dampened expectations for further Fed rate cuts this year. Despite the recent pullback, the metal's value continues to be supported by strong industrial demand, particularly in renewable energy and electronics technologies, as well as ongoing supply concerns. In addition, investors remain hopeful that major consumer...
The Australian Dollar (AUD) held steady on Wednesday after two consecutive days of gains against the US Dollar (USD). The AUD/USD pair benefited from the risk-on market sentiment, supported by strong trade data from China, Beijing's efforts to stabilize the Yuan, and rising commodity prices. Traders are awaiting Australian employment data, scheduled for release later this week, for further insights on the Reserve Bank of Australia's (RBA) policy direction. Investor confidence is growing as US President-elect Donald Trump's economic team considers gradually increasing import tariffs. This...
Gold (XAU/USD) prices reversed an intraday dip to $2,669 area and turned positive for the second straight day on Wednesday, although the upside seemed limited ahead of the US Consumer Price Index (CPI) report. The US Dollar (USD) held near weekly lows touched in reaction to Tuesday's weaker US Producer Price Index (PPI) and turned out to be a key factor lending support to the commodity. Meanwhile, easing concerns over disruptive trade tariffs from US President-elect Donald Trump remained supportive of the risk sentiment – as depicted by a generally positive tone around the equity...
Oil prices were little changed on Wednesday, after falling the previous day, as a dip in U.S. crude stockpiles and expectations of supply disruptions from sanctions on Russian tankers lent support amid forecasts for lower global fuel demand. Brent crude futures were up 2 cents to $79.94 a barrel by 0205 GMT, after dropping 1.4% in the previous session. U.S. West Texas Intermediate crude rose 12 cents, or 0.15%, to $77.62 a barrel after a 1.6% drop. Prices slipped on Tuesday after the U.S. Energy Information Administration predicted oil will be under pressure over the next two years as...