Gold traded higher early on Friday as the dollar and treasury yields weakened. Gold for August delivery was last seen up US$17.80 to US$3,363.10 per ounce. The price of the precious metal has traded in a tight range for most of July after touching a record high on June 13 as the outlook for further interest-rate cuts from U.S. Federal Reserve weakens as it waits to assess the impact of tariffs on inflation and employment. "With our rates strategists pushing their call for the first cut from the Fed till December, and amidst outside pressure on Powell, we see both the macro drivers and...
Japan's Nikkei 225 Index fell for a fourth day on Wednesday as investors remained cautious ahead of monetary policy decisions by the Federal Reserve and Bank of Japan. A decline in U.S. semiconductor stocks also dragged on the market. The Nikkei index was down 0.2 percent at 39,275.88 as of 9:07 a.m. in Tokyo The Topix index was little changed at 2,726.90 Of the 2,126 stocks in the index, 819 rose and 1,132 fell, while 175 were unchanged If the market starts to reduce expectations for a Fed rate cut next year, it's hard to predict how U.S. stocks will react, weighing on Japanese...
US stock index futures fell, causing a rally in leading technology stocks to pause, as investors await a raft of economic data and the Federal Reserve's interest rate decision. Futures on the S&P 500 were down 0.3% at 5:42 a.m. in New York, while tech-heavy Nasdaq 100 futures were little changed after the index posted back-to-back records. CNH Industrial shares edged up in premarket trading after the machine-tool company was upgraded to overweight from equal-weight at Morgan Stanley, which forecast that 2025 will provide clarity on the major equipment cycle. The US stock rally...
The Hang Seng lost 95 points or 0.5% to finish at 19,700 on Tuesday, down for the third session amid a steep decline in US futures following a record close on Wall Street Nasdaq, ahead of an anticipated interest rate reduction from the Fed Wednesday. The index hits its lowest level in over a week, weighed by the third straight session of losses in Chinese markets and vigilance before the PBoC's monthly review of key lending rates later this week, after record low levels in November. Further declines were limited by a report from Reuters that China plans a record top budget deficit of 4% in...
European markets opened in negative territory on Tuesday as central banks took center stage this week. The pan-European Stoxx 600 index opened 0.4% lower with all sectors in negative territory, as did all major European bourses. The focus of global markets this week is the U.S. Federal Reserve's final two-day policy meeting of the year. The meeting begins on Tuesday, with the central bank's monetary policy decision due on Dec. 18. Traders are pricing in a 95% chance of a quarter-point rate cut on Wednesday, according to CME Group's Fed Watch tool. Investors will also be looking for...
The Nikkei 225 index fell 0.23% to close at 39,365, while the broader Topix index fell 0.37% to 2,728 on Tuesday, reversing earlier gains on caution ahead of the U.S. Federal Reserve's policy decision later this week. The Fed is widely expected to cut interest rates by 25 basis points, but could signal fewer cuts next year amid concerns over a resurgence in inflation. At home, speculation is growing that the Bank of Japan may delay a rate hike this week as BOJ officials wait for more time to assess the latest economic data. In corporate news, Advantest shares plunged 9.1% after it...
The Hang Seng Index opened down 117 points, or 0.59%, at 19,678 points this morning, reflecting a cautious market sentiment. The China Enterprises Index fell by 37 points, or 0.52%, to 7,095 points, while the Tech Index declined by 27 points, or 0.61%, settling at 4,387 points. By 10.04am, the Hang Seng Index was trading at 19,735.99, down 59.50 points, or 0.30%. Technology stocks displayed a generally weak performance, with Tencent decreasing by 0.8% and Alibaba falling by 0.5%. Meituan saw a more pronounced drop of 1.6%, while Xiaomi managed a slight gain of 0.6%. JD.com and Kuaishou...
The Nikkei 225 Index gained 0.6% to around 39,680, while the broader Topix Index rose 0.5% to 2,750 on Tuesday (17/12), recovering losses from the previous session. The rally was largely fueled by a strong performance on Wall Street, where technology stocks outperformed. Investors are also bracing for an expected interest rate cut by the US Federal Reserve this week, with much attention on the Fed's projections for 2025. Domestically, markets are speculating that the Bank of Japan may hold off on raising rates this month. BOJ officials suggested last week that more time is needed to assess...
The Nasdaq hit a record high Monday, led by Tesla (NASDAQ:TSLA) as investors look ahead to the last Federal Reserve policy meeting of the year.the Dow Jones Industrial Average was 38 points lower, or 0.1%, the S&P 500 index gained 1%, and the NASDAQ Composite climbed 1.1%, and earlier hit an record intraday high of 20,145.48.The Fed is widely expected to cut interest rates by 25 basis points at the conclusion of a two-day meeting on Wednesday, after the central bank kicked off an easing cycle earlier in the year. The move will bring rates down by a total of 100 bps in 2024. But focus...
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....