Oil prices edged higher on Friday (July 18th), heading for a slight weekly loss, as investors weighed new EU sanctions against Russia. Brent crude futures rose 50 cents, or 0.72%, to $70.02 a barrel at 09:12 GMT, while U.S. West Texas Intermediate crude futures rose 61 cents, or 0.9%, to $68.15 a barrel. At those levels, the contracts were headed for marginal weekly losses of 0.5% and 0.4%, respectively. Investors were weighing the potential impact on global oil balances of the European Union's agreement on an 18th package of sanctions against Russia over its war in Ukraine, which includes...
European markets opened higher on Monday as the new trading week kicked off, with investors weighing geopolitical turmoil. Shortly after markets opened, the pan-European Stoxx 600 was up by around 0.3%, with all major regional bourses and most sectors trading in positive territory. Traders will be assessing geopolitical upheaval in the Middle East after the ousting of Syrian President Bashar al-Assad over the weekend. Western leaders have greeted the overthrow of the Assad dynasty by rebel forces with caution, fearing a power vacuum and more instability in the region. Meanwhile,...
Hong Kong's shares were almost flat in the Monday morning session, trading around 19,868 following a rally in the prior session, with investors responding to China's CPI and PPI data. Consumer prices in the mainland rose by 0.2% yoy in November, missing consensus of 0.5% while marking the softest increase in five months. At the same time, producer prices fell by 2.5%, pointing to the 26th month of drop despite softening from October's print of a 2.9% fall. On local data, forex reserves in the city notched a nine-month peak of USD 425 billion last month. Market participants monitored...
European equity markets are expected to start the new trading week on a cautious note, with global political instability dampening investor sentiment. The ongoing political crises in South Korea and France, coupled with the collapse of Syrian President Bashar al-Assad's regime, add to the uncertainty. Additionally, there are no major economic or earnings releases in Europe on Monday. In pre-market trading, futures on the Euro Stoxx 50 and Stoxx 600 were down around 0.15% and 0.1%, respectively. Source: Trading Economics
The Nikkei 225 index rose 0.18% to close at 39,160, while the broader Topix index rose 0.27% to 2,735 on Monday, recovering losses from the previous session and tracking Wall Street's gains at the end of last week. Investors also eyed revised Japanese third-quarter economic growth data, which indicated the country's second straight quarter of expansion. Business sentiment data later this week will be closely watched for further insight into the health of the economy. However, gains were capped by ongoing global political instability. Political crises in South Korea and France, as well as...
Hong Kong stocks were mostly flat on Monday morning, trading around 19,868 after rallying in the previous session, as investors digested China's November CPI and PPI data. Mainland consumer prices rose 0.2% year-on-year, missing market consensus of 0.5% and marking the weakest gain in five months. Producer prices, meanwhile, fell 2.5%, marking a 26-month decline, although easing from a 2.9% drop in October. Source: Trading Economics
China's producer prices fell 2.5% year-on-year in November 2024, after falling 2.9% in the previous month and below market expectations of 2.8%. This marked the 26th straight month of producer deflation, reflecting continued weakness in domestic demand amid Beijing's ongoing efforts to stem the trend. On a monthly basis, producer prices edged up 0.1%, after falling 0.1% in October. For the first 11 months of the year, producer prices shrank 2.1%. Source: Trading Economics
The Nikkei 225 and Topix indexes showed limited movement on Monday, as global political instability weighed on financial markets. Ongoing political crises in South Korea and France, along with the collapse of Syrian President Bashar al-Assad's regime, contributed to the uncertainty. Domestically, Japan's third-quarter economic growth was revised upward, indicating the country's second consecutive quarter of expansion. Investors are now awaiting business sentiment data later in the week to further assess the health of the economy. Notable declines were seen in index heavyweights such as...
Asian stocks started the week on a weak note, as investors grappled with South Korea's political upheaval and awaited fresh stimulus from Beijing. Oil prices steadied after Syria's government was toppled. Korean equity benchmarks fell as much as 1.8% at the open, with Australian shares also down. Japanese shares were flat. Futures pointed to a weak open in Hong Kong. The dollar and 10-year Treasury yields were steady. Investors are bracing themselves this week for a series of central bank decisions on four continents, a key meeting of Chinese officials and U.S. inflation data in a bid to...
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....