The Australian dollar (AUD) strengthened against the US dollar (USD) this morning after the latest inflation data from the TD Securities–Melbourne Institute (TD-MI) showed a higher-than-expected surge in consumer prices. The monthly inflation index rose 0.4% in September, reversing from a 0.3% decline in the previous month. Annually, inflation now stands at 3%, slightly above the upper end of the Reserve Bank of Australia's (RBA) target range of 2–3%. This rise in inflation has fueled speculation that the RBA may reconsider its cautious stance on interest rates. Although the RBA held its...
US stocks were higher to kick off the week, with the S&P 500 rising 0.5%, the Nasdaq adding 0.7% and the Dow Jones gaining about 270 points, with traders digesting fresh tariffs and awaiting key economic data and Fed Chair Powell's testimony to Congress. President Trump announced plans to impose 25% tariffs on all imports of steel and aluminum into the US and said new reciprocal tariffs would also be announced this week. Steel-related companies got a boost on the news, namely Cleveland-Cliffs (14.2%), Nucor (6.2%), Steel Dynamics (4.3%), US Steel Corp (4%), and Alcoa...
The Hang Seng soared 388 points or 1.8% to end at 21,522 on Monday, rising for the third session and notching their highest level since early October amid widespread sector gains. Concerns about China's deflation notably eased after Sunday's data showed consumer inflation hit a 5-month high due to solid holiday spending. In addition, worries about trade row between China and the US waned, with many traders viewing US tariff threats as negotiation tactics. The tech index climbed over 2.5% on continued optimism around China's AI tech. Meanwhile, China's three largest telecom operators --...
Major bourses in Europe kicked off the week slightly higher, with both the STOXX 50 and the STOXX 600 adding about 0.2%, as traders try to shrug off concerns about the trade war. President Donald Trump announced plans to impose 25% tariffs on all imports of steel and aluminum into the US and said new reciprocal tariffs would also be announced this week. This came as China's retaliatory tariffs on select US exports are set to take effect today, while German Chancellor Olaf Scholz stated that the EU is ready to respond "within an hour" if the US imposes tariffs on European goods. Real...
Asia-Pacific markets fell Monday, tracking U.S. stocks futures that were lower ahead of key economic data, with escalating trade tensions denting investor sentiment. U.S. President Donald Trump told reporters Sunday that he was planning to announce a blanket 25% tariff on all steel and aluminum imports on Monday, according to Reuters. Over in Japan, the benchmark Nikkei 225 was trading flat, while the broader Topix index fell 0.16%, in choppy trading. The country reported loan growth of 3% year on year in January, falling slightly from December's 3.1%. South Korea's Kospi was flat in...
Asia-Pacific markets traded mixed Monday, tracking U.S. stocks futures that were lower ahead of key economic data, with escalating trade tensions denting investor sentiment.U.S. President Donald Trump told reporters Sunday that he was planning to announce a blanket 25% tariff on all steel and aluminum imports on Monday, according to Reuters.Over in Japan, the benchmark Nikkei 225 was down 0.1%, while the broader Topix index fell 0.27%, in choppy trading.The country reported loan growth of 3% year on year in January, falling slightly from December's 3.1%.South Korea's indexes opened lower,...
Hong Kong's equities surged 253 points or 1.2% to 21,389 on Monday morning deals, marking the third session of gains and holding their highest in three months. Optimism toward China's tech sector continued to boost sentiment following the sudden emergence of low-cost AI model DeepSeek. At the same time, concerns over deflation risks in the mainland eased after consumer inflation hit a five-month top of 0.5% in January, topping consensus of 0.4%. Gains were broad-based, with top movers from tech, consumers, and financials. Further increases were tempered by news that President Trump will...
The Nikkei 225 and Topix indexes showed mixed movements on Monday as global market sentiment was dampened by the looming threat of new US tariffs. On Sunday, US President Donald Trump announced a blanket 25% tariff on all steel and aluminum imports, set to take effect later today. Domestically, investors looked ahead to key earnings reports this week, particularly from Honda and Nissan, following the fallout from integration talks between the two automakers. Corporate earnings from SoftBank Group, Orix Corporation, Fujikura, Obayasha Corp, and Shiseido are also in focus. In contrast, shares...
Japan's current account surplus increased to JPY 1,077.3 billion in December 2024 from JPY 914.5 billion in the same month a year earlier, falling short of market estimates for a gain of JPY 1,362 billion. Still, it was the 23rd successive month of surplus in the current account, as the services account deficit decreased sharply to just JPY 0.21 billion from JPY 266.3 billion in the previous year. Also, the secondary income gap narrowed slightly to JPY 240.1 billion from JPY 251.5 billion. At the same time, the primary income surplus fell to JPY 1,275.5 billion from JPY 1,308.6 billion in...
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....