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 on Wednesday, benefiting from rising bond yields after the release of healthy U.S. economic data, while weak German industrial orders weighed on the euro. At 4:35 AM ET (09:35 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.3% higher at 108.690. Dollar strengthens on rising Treasury yields The dollar continued to strengthen on Wednesday, following the previous session's positive tone after data showed U.S. job openings rose unexpectedly in November, layoffs were low, while service sector activity...
Oil prices rose on Wednesday as supplies from Russia and OPEC members tightened while data showing an unexpected rise in U.S. job openings pointed to expanding economic activity and growing demand for oil as a result. Brent crude rose 37 cents, or 0.5%, to $77.42 a barrel by 0730 GMT. U.S. West Texas Intermediate crude rose 44 cents, or 0.6%, to $74.69. Oil output from the Organization of the Petroleum Exporting Countries fell in December after two months of increases, a Reuters survey showed. Field maintenance in the United Arab Emirates offset a rise in Nigerian output and increases...
Gold (XAU/USD) prices held on to modest intraday gains through the first half of the European session on Wednesday, albeit lacked bullish conviction and remained below the $2,665 resistance zone retested the previous day. Uncertainty surrounding US President-elect Donald Trump's tariff plans, trade war fears, geopolitical tensions, and softer risk tone turned out to be key factors that acted as a tailwind for the safe-haven bullion. However, the Federal Reserve's (Fed) hawkish shift, which kept the US Treasury bond yields elevated near multi-month tops, along with the emergence of some...
Gold (XAU/USD) prices attracted some dip-buying following the previous day's decline from the $2,665 resistance zone, albeit lacked any follow-through or bullish conviction. The US Dollar (USD) bulls turned cautious and preferred to wait for the release of the FOMC Meeting Minutes before placing fresh bets. Additionally, uncertainty surrounding US President-elect Donald Trump's tariff plans, trade war fears, geopolitical tensions, and a softer risk tone turned out to be key factors that acted as a tailwind for the safe-haven bullion. Meanwhile, the Federal Reserve's (Fed) hawkish signal...
Silver prices held above $30.10 an ounce on Wednesday, near their highest level in more than three weeks despite pressure from a stronger dollar and rising Treasury yields. The move came as strong U.S. economic data reduced the likelihood of further interest rate cuts by the Federal Reserve. Silver, along with other safe-haven assets, has also benefited from uncertainty ahead of U.S. President-elect Donald Trump's inauguration on Jan. 20 and confusion over his tariff plans. Silver has also drawn support from hopes that China, the world's top consumer of the metal, will follow through on...