Hong Kong stocks rose 98 points, or 0.4%, to 24,607 in early trading on Monday, ending a four-day losing streak amid gains led by the property and technology sectors. Sentiment improved after China's top leaders pledged to support the economy and tackle "irregular competition" at last week's Politburo meeting. Beijing also confirmed plans to hold its fourth plenary session in October, which will likely focus on the next five-year plan. A modest rebound in US stock futures added support, following Wall Street's sharp decline on Friday due to weak employment data. On tariffs, US Treasury...
The U.S. dollar strengthened for a third straight session on Thursday as Treasury yields dipped but held at elevated levels on concerns over tariffs under the incoming Trump administration, while sterling's recent weakness persisted. U.S. Treasury yields have been on an uptrend, with the benchmark 10-year note hitting an 8-1/2 month high of 4.73% on Wednesday as a resilient economy and likely tariffs have rekindled inflation concerns and heightened expectations the Federal Reserve will take a slower path of interest rate cuts. Recent economic data has shown a labor market on a solid...
Oil advanced, with traders weighing short-term supply risks against further signs of Chinese economic weakness. West Texas Intermediate rose 0.8% to settle near $74 a barrel, tacking on its seventh gain in the last nine sessions. Oil prices fell more than 1% on Wednesday after futures failed to breach a key technical level. Crude's strong start to 2025 has been supported by continued US inventory drawdowns and potential risks to Iranian supply in a second Donald Trump presidency. Cold weather is expected to boost demand for heating fuels this month, and Russia's seaborne crude exports...
Oil prices rose slightly on Thursday as investors factored in firm winter fuel demand expectations despite large U.S. fuel inventories and macroeconomic concerns. Brent crude futures were up 35 cents, or 0.5%, at $76.51 a barrel by 1246 GMT. U.S. West Texas Intermediate crude futures gained 30 cents, or 0.4%, to $73.62. Both benchmarks fell more than 1% on Wednesday as a stronger dollar and a bigger than expected rise in U.S. fuel stockpiles pressured prices. Nevertheless, official Energy Information Administration (EIA) data showed rising gasoline and distillates stockpiles in the United...
Gold's price (XAU/USD) turns higher again and enters into a third straight day of gains, after breaking and closing above the 55-day Simple Moving Average (SMA) at $2,654 the previous day. The move comes as yields across the globe start to surge due to inflation concerns. Traders are getting worried that inflation could peak again with all the stimulus plans, fiscal reforms, and tariff levies that President-elect Donald Trump has announced in the past few days and weeks. On the economic data front, this Thursday, all eyes are on the Federal Reserve (Fed), which has a slew of policymakers...
EUR/USD moved lower below 1.0300 but remained within Wednesday's trading range in the European session on Thursday. The major currency pair faced pressure as the US Dollar (USD) moved higher, with the US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, aiming to revisit a two-year high of 109.53. The US Dollar strengthened as the Federal Open Market Committee (FOMC) minutes for its December policy meeting suggested that policymakers were cautious about further policy easing as progress in the disinflationary trend has stalled. Source: FXStreet