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...
The Nikkei 225 index rose 0.8% to around 38,750, while the broader Topix index gained 0.6% to 2,706 on Thursday, recovering some losses from earlier in the week and tracking a strong performance on Wall Street. U.S. stocks surged overnight, boosted by a surprise drop in core inflation and solid bank earnings. However, investors remained cautious about Japanese equities after Bank of Japan Governor Kazuo Ueda indicated on Wednesday that the central bank would discuss the possibility of raising interest rates at its next policy meeting next week. Meanwhile, data showed that Japanese producer...
Producer prices in Japan increased by 3.8% yoy in December 2024, keeping the same pace as in the previous month and aligning with market consensus. It was the 46th straight month of producer inflation, remaining at its highest level since June 2023, as cost continued to grow for transport equipment (1.7% vs 1.6% in November), beverages & foods (1.9% vs 2.1%), iron & steel (-0.1% vs -0.1%), electrical machinery (4.7% vs 4.1%), production machinery (1.8% vs 1.4%), general-purpose machinery (4.3% vs 4.3%), metal products (3.8% vs 4.0%), other manufacturing (3.6% vs 3.8%), plastics (3.6%...
U.S. stocks surged on Wednesday, with all three major indexes registering their biggest daily percentage gains in more than two months, as lower-than-expected December core inflation data and solid earnings from major U.S. banks fueled a rally. The Labor Department said the consumer price index (CPI) increased the most in nine months as energy costs rose, although a measure of underlying inflation pressures subsided. Data on Tuesday showed the producer price index (PPI) rose less than expected. According to preliminary data, the S&P 500 gained 106.45 points, or 1.82%, to end at...
European markets closed higher on Wednesday as investors assessed cooler-than-expected inflation prints from the U.S. and U.K. The pan-European Stoxx 600 closed 1.3% higher, snapping a three-day losing streak and clocking its best performance since August 2024. All sectors were in the green, led by retail stocks, which rose 2.7%. London's FTSE 100 gained 1.2% and U.K. government bond yields dropped sharply after official data showed U.K. inflation fell to 2.5% in December. Economists polled by Reuters had anticipated the reading would remain unchanged from the 2.6% print of November. The...
Wall Street's main indexes opened higher on Wednesday, as data showed core inflation rose less than expected in December and investors cheered a strong batch of quarterly results from the biggest U.S. banks. The Dow Jones Industrial Average rose 409.5 points, or 0.96%, at the open to 42,927.76. The S&P 500 rose 62.3 points, or 1.07%, at the open to 5,905.21, while the Nasdaq Composite rose 305.9 points, or 1.61%, to 19,350.313 at the opening bell. Source: Reuters
European stock markets rose on Wednesday (15/1), ahead of the release of highly influential monthly U.S. inflation data, after U.K. consumer prices showed signs of easing. At 3:05 a.m. ET (08:05 GMT), Germany's DAX index was up 0.3%, France's CAC 40 was up 0.3% and the U.K.'s FTSE 100 jumped 0.7%. Investors are awaiting the release of fresh U.S. consumer price data, later in the session, as it could potentially change expectations for future monetary policy from the Federal Reserve. Markets have pushed expectations for the Fed's next interest rate cut into June after an unexpectedly strong...
Japanese stocks rose after the close of trading on Wednesday, as gains in the Transportation Equipment, Chemicals, Petroleum & Plastics, and Insurance sectors boosted shares. At the close of trading in Tokyo, the Nikkei 225 rose 0.09% to hit a fresh 1-month low. The best performers on the Nikkei 225 were Fanuc Corp. (TYO:6954), which rose 5.67% or 235.00 points to trade at 4,378.00 at the close of trading. Meanwhile, Toho Co., Ltd. (TYO:9602) rose 4.59% or 278.00 points to close at 6,329.00 and Keyence (TYO:6861) rose 3.75% or 2,330.00 points to 64,450.00 at the close of trading. The...
European markets are heading for a positive open Wednesday as traders await the latest U.S. inflation data that will inform the Federal Reserve's decision-making on interest rate cuts. The U.K.'s FTSE 100 index is expected to open 25 points higher at 8,221, Germany's DAX up 20 points at 20,279, France's CAC up 15 points at 7,439 and Italy's FTSE MIB up 51 points at 35,218, according to data from IG. Trading updates are set to come from Experian and Hays on Wednesday, while data releases in focus are the latest U.K. inflation figures and German full-year gross domestic product. Global...
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....