Gold price advances during the North American session on Friday as the US Dollar weakens, with traders booking profits ahead of the weekend. Additionally, a Fed Governor's comments turned more dovish than expected, supporting a rate cut in July. At the time of writing, the XAU/USD trades at $3,353, up 0.43%. The market mood is upbeat after the University of Michigan (UoM) revealed that Americans have become optimistic about the economy and expect inflation to edge lower. Recently, Fed Governor Christopher Waller suggested that the central bank should cut interest rates at the upcoming...
Donald Trump has been inaugurated as the 47th president of the United States. The swearing-in ceremony was conducted by Chief Justice John Roberts. Alongside him, JD Vance took the oath of vice presidency, administered by Justice Brett Kavanaugh. In his inauguration speech, President Trump promised the beginning of a golden era for America. He is set to initiate a series of executive actions, as per incoming White House officials. These potentially include the commencement of a process to terminate birthright citizenship and the declaration of a national emergency on the US-Mexico border....
The STOXX 50 gained 0.6% and the STOXX 600 added 0.3% on Monday, rebounding from early losses, after the WSJ reported that US President will ask federal agencies to study trade with China and America's continental neighbours, but stop short of imposing new tariffs on his first day in office. The news offered some momentarily relief to markets that were expecting some tariffs announced on the Inauguration day. Traders were also awaiting for any insights from Trump's speech and potential executive orders. Attention also shifts to the World Economic Forum kicking off in Davos, Switzerland. On...
The Hang Seng surged 342 points, or 1.8%, to close at 19,926 on Monday, rising for a fifth straight session and hitting its highest level since early 2025. The rally was driven by gains across sectors, boosted by news of a phone call between U.S. President-elect Trump and Chinese President Xi Jinping to discuss key issues. Elsewhere, Chinese Vice President Han Zheng's meetings with Elon Musk and other U.S. businesses highlighted Beijing's efforts to improve ties ahead of Trump's return to the White House. Meanwhile, TikTok resumed its U.S. operations on Sunday after Trump announced a...
European equity markets are set to open flat on Monday (1/20) as caution prevails ahead of Donald Trump's inauguration. Traders are focused on his promises to raise tariffs, tighten immigration, lower taxes and increase deregulation, which could have significant implications for major economies such as the EU. Investors are also looking ahead to the World Economic Forum in Davos, Switzerland, this week, where political and business leaders will meet to discuss key global issues. Meanwhile, there are no major economic or earnings releases scheduled in Europe today. In premarket trading, Euro...
The Nikkei 225 jumped 1.17% to close at 38,902 while the broader Topix index gained 1.19% to 2,711 on Monday (20/1), recovering losses from last week as investors prepared for Donald Trump's inauguration and braced for the impact of his potential policies. Domestic data revealed a surprise 3.4% month-on-month rise in Japanese machinery orders in November, defying market expectations for a 0.4% decline and marking the strongest growth in nine months. Looking ahead, the market is focused on the Bank of Japan's upcoming monetary policy decision, especially after hints from central bank...
Asia-Pacific markets traded mostly higher Monday (20/1), ahead of Donald Trump's inauguration with investors awaiting greater clarity on the policies of the incoming U.S. administration. Australia's S&P/ASX 200 rose 0.4%. Japan's Nikkei 225 climbed 1.38%, while the Topix added 1.37%. South Korea's Kospi traded around the flatline and the Kosdaq slipped 0.16%. Hong Kong's Hang Seng index rose 1.19% at the open, while mainland China's CSI 300 inched 0.73% higher as China left its benchmark lending rates unchanged Monday. The People's Bank of China held the 1-year loan prime rate at...
The Nikkei 225 jumped 1% to above 38,800 while the broader Topix index rose 1% to 2,706 on Monday , recovering losses from last week as investors prepared for Donald Trump's inauguration and braced for the potential impact of his policies. Domestic data revealed a surprise 3.4% month-on-month rise in Japanese machinery orders in November, defying market expectations for a 0.4% decline and marking the strongest growth in nine months. Looking ahead, markets are focused on the Bank of Japan's upcoming monetary policy decision, especially after hints from central bank officials about a...
U.S. stocks rallied on Friday to close out a strong week on optimism over the health of the economy and path of interest rates as investors braced for a slew of policy changes under the incoming Trump administration. The S&P 500 and Dow Industrials registered their biggest weekly percentage gains since early November and the Nasdaq recorded its best since early December. Data this week allayed fears that inflation would resurge while expectations have grown that the Federal Reserve will bump up the timing and magnitude of rate hikes this year. The Commerce Department reported on Friday...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....