Gold (XAU/USD) Gold (XAU/USD) regains ground on Friday, edging modestly higher after earlier weakness, even as a resilient US Dollar (USD) caps upside momentum. At the time of writing, XAU/USD trades around $4,345, recovering from a daily low near $4,309. The precious metal briefly surged toward record highs on Thursday after US inflation data undershot expectations. However, gains quickly faded as softer inflation lifted risk appetite across equity markets and pushed Gold back within the range established earlier this week. That said, the downside appears limited, as a dovish Federal...
European stocks closed sharply higher on Monday after the U.S. voted to push back tariffs on the European Union back to their original date. The eurozone STOXX 50 closed 1.3% higher at 5,397 and the pan-European STOXX 600 gained 1% to close at 550. U.S. President Trump said Friday's 50% tariffs on the EU would be delayed until July, and sounded a note of optimism about aggressive trade levies. Consistently, EU Commission President Von der Leyen noted that a deal could be reached by the July 9 deadline. As a result, sectors with a large exposure to U.S. consumers outperformed and bounced...
The U.S. dollar fell against its major counterparts as U.S. equity futures rose following President Donald Trump's decision to postpone an increase in tariffs on the European Union. The U.S. dollar index (DXY) initially dropped before recovering most of its losses during the day. Meanwhile, the EUR/USD pair rose by 0.5% before settling 0.1% higher at $1.1378. On Sunday, President Trump announced he had agreed to delay a 50% tariff on European Union imports until July 9. This decision came after a conversation with the European Commission President, Ursula von der Leyen. Trump described...
The Hang Seng tumbled 319 points or 1.4% to close at 23,282 on Monday, erasing gains from the previous session as losses spread across consumer, tech, and financial sectors. The selloff followed remarks by U.S. President Trump, who threatened a 25% tariff on iPhones not made in the U.S.—later adding Samsung would face similar treatment. iPhone supplier Luxshare slipped 0.2%. BYD tumbled 9% after launching steep discounts in a recent promotion, dragging down other EV makers: Geely Auto (-8.6%), Li Auto (-4.0%), NIO (-3.5%), and Xpeng (-4.4%). Caution also grew ahead of China's industrial...
Japan stocks were higher after the close on Monday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 1.01%. The best performers of the session on the Nikkei 225 were Keisei Electric Railway Co., Ltd. (TYO:9009), which rose 5.77% or 77.00 points to trade at 1,412.00 at the close. Meanwhile, Lasertec Corp (TYO:6920) added 4.98% or 705.00 points to end at 14,865.00 and CyberAgent Inc (TYO:4751) was up 4.51% or 64.00 points to 1,481.50 in late trade. The worst performers of the session were Isetan Mitsukoshi Holdings Ltd....
Major European bourses started the week in positive territory after President Trump announced a delay in the planned 50% tariff on the European Union, extending the deadline to July 9. The move came following a phone call with European Commission President Ursula von der Leyen, who stated that "Europe is ready to advance talks swiftly and decisively," but noted that "a good deal" would require time, "until July 9. Under the reciprocal tariff framework announced in April, the EU had been facing a 20% levy, which was temporarily reduced to 10% through the new deadline. Autos, banks,...
The Hang Seng Index started the day down by 95 points or 0.4%, closing at 23,505 points. The H-share index dropped by 33 points or 0.38%, settling at 8,550 points, while the tech index fell by 16 points or 0.32%, ending at 5,229 points. In the tech sector, Tencent saw a decrease of 0.5%, Alibaba dropped by 0.2%, Meituan fell by 0.5%, Xiaomi Group by 0.7%, JD.com by 0.8%, and Kuaishou by 0.5%. MINISO's performance faced a sharp decline of 14.7% following recent news. Among financial stocks, performances varied, with HSBC Holdings declining by 0.9%, AIA Group by 0.1%, China Ping An by 0.3%,...
Asia-Pacific markets traded mixed Friday as investors assess a slew of economic data from the region. Japan's benchmark Nikkei 225 rose 0.47% to close at 37,160.47 and the Topix climbed 0.68% to close at 2,735.52. South Korea's Kospi traded flat to close at 2,592.09 while the small-cap Kosdaq was down 0.24% to end the trading day at 715.98. Australia's benchmark S&P/ASX 200 was up 0.15% to close at 8,360.9. Hong Kong's Hang Seng index and mainland China's CSI 300 traded flat. The U.S. and China agreed to maintain communication following a call between Chinese Vice Foreign Minister Ma...
The Nikkei 225 Index rose 0.5% to around 37,350 while the broader Topix Index added 0.3% to 2,744 on Monday, extending gains from the previous session as market sentiment was buoyed by US President Donald Trump's decision to delay the implementation of 50% tariffs on the EU. A retreat in the safe-haven yen also supported Japanese shares by easing currency-related pressure on exporters. Meanwhile, investors continued to monitor the Bank of Japan's policy outlook, with expectations growing that the central bank will raise interest rates further in response to persistent inflation. Industrial...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....