The Nikkei 225 fell 2% to below 40,000 and the broader Topix index fell 1.8% to 2,895 on Monday (August 4), with both indexes hitting near two-week lows as Japanese stocks followed Wall Street's sharp decline. The sell-off followed US President Donald Trump's massive retaliatory tariffs of 10% to 41% on several trading partners, alongside a weaker-than-expected US jobs report that deepened economic concerns. Domestically, investors awaited the minutes of the Bank of Japan's latest policy meeting for clues on the timing of its next interest rate hike. Technology stocks led the decline, with...
Oil prices eased in volatile trade on Monday as some bearish economic news from the United States and Germany offset bullish support from a weaker U.S. dollar and forecasts for increased heating demand for energy from a winter storm. After rising for five days in a row, Brent futures fell 21 cents, or 0.3%, to settle at $76.30 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 40 cents, or 0.5%, to settle at $73.56. Despite those declines, both crude benchmarks remained in technically overbought territory for a third day in a row. On Friday, Brent settled at its highest level...
Gold prices fell on Monday as U.S. Treasury yields rose, while the Federal Reserve's recent hint at a slower pace of rate cuts in 2025 kept investors keenly awaiting a slew of economic data due this week to shed more light on that view. Spot gold fell 0.2% to $2,634.52 per ounce by 2:27 a.m. ET (1927 GMT). U.S. gold futures settled 0.3% lower at $2,647.40. "Bond yields are back up again, placing pressure on gold," said Nitesh Shah, commodity strategist at WisdomTree. Yield on the 10-year U.S. Treasury Note rose to an over eight-month high, making non-yielding gold less attractive "We...
Gold prices fell on Monday as U.S. Treasury yields rose, while the Federal Reserve's recent hint at a slower pace of rate cuts in 2025 kept investors keenly awaiting a slew of economic data due this week to shed more light on that view. Spot gold fell 0.3% to $2,632.47 per ounce by 9:55 a.m. ET (1455 GMT). U.S. gold futures were down 0.4% at $2,644.50. "Bond yields are back up again, placing pressure on gold," said Nitesh Shah, commodity strategist at WisdomTree. Yield on the 10-year U.S. Treasury Note rose to an over one-week high, making non-yielding gold less attractive. "We...
The US Dollar Index (DXY), which tracks the greenback against a basket of currencies, fell for the second straight day on Monday and continued to slide from its highest level since November 2022 reached last week. The index maintained its negative bias through the first half of the European session and is currently hovering around the 108.70-108.65 area, down 0.25% for the day, although the fundamental backdrop warrants caution for bearish traders. The US ISM Manufacturing PMI improved from 48.4 to 49.3 in December, showing signs of economic resilience and growth potential amid optimism...
Oil prices fell on Monday amid a stronger U.S. dollar ahead of key economic data by the U.S. Federal Reserve and U.S. payrolls data later in the week. Brent crude futures were down 28 cents, or 0.4%, at $76.23 a barrel by 0800 GMT after closing at their highest since Oct. 14 on Friday. U.S. West Texas Intermediate crude futures were down 27 cents, or 0.4%, at $73.69 a barrel after closing at their highest since Oct. 11 on Friday. Crude prices posted gains in the previous five sessions on hopes of improved demand following cold weather in the Northern Hemisphere and more fiscal stimulus by...