The EUR/USD pair moved steadily around 1.1750 during Wednesday's Asian session. Its movement appeared to be holding up after a sharp drop the previous day from its highest level since September 24th. Despite the correction, the overall direction of EUR/USD remains bullish. Market sentiment suggests that selling pressure on the dollar is weakening, giving the euro room to hold its ground. From the US side, the dollar's recovery following the release of the Nonfarm Payrolls (NFP) data is starting to run out of steam. The mixed labor data hasn't been strong enough to change market confidence...
The Nikkei 225 Index tumbled 1.7% to below 37,200, while the broader Topix Index dropped 1.6% to 2,770 on Friday, hitting a two-week low as automakers continued to reel from US President Donald Trump's auto tariffs. Earlier this week, Trump announced a 25% tariff on all car imports starting next week, dealing a blow to Japan's export-driven economy, which relies heavily on auto shipments to the US. Major automakers suffered steep losses, including Toyota (-4.7%), Honda (-4.5%), Mazda (-3.4%), Subaru (-2.7%), and Suzuki (-2.2%). Japanese technology stocks also followed their US counterparts...
Stocks fell on Thursday as investors weighed the latest tariff-related news from President Donald Trump, including his new tariffs aimed at foreign automakers. The Dow Jones Industrial Average dropped 155.09 points, or 0.37%, to end at 42,299.70. The S&P 500 declined 0.33% to close at 5,693.31, and the Nasdaq Composite slid 0.53% to settle at 17,804.03. Shares of several automakers declined after Trump on Wednesday evening announced 25% tariffs on "all cars that are not made in the United States," which will go into effect on April 2. General Motors pulled back more than 7%, while Ford...
European stocks closed lower Thursday as global markets reacted to new automotive tariffs announced by U.S. President Donald Trump. The regional Stoxx 600 index closed 0.44% lower as all major bourses declined. The Stoxx Europe autos index was down nearly 1% as most firms pared earlier losses, with Jeep maker Stellantis shedding 4.2%, Mercedes-Benz down 2.7% and Germany's BMW down 2.55%.Trump said on Wednesday that he will impose a 25% tariff on "all cars that are not made in the United States" with the levies due to take effect on April 2. Trump White House aide Will Scharf said the new...
Stocks flitted between gains and losses on Thursday as investors weighed the latest tariff-related news from President Donald Trump, including his new tariffs aimed at foreign automakers. The Dow Jones Industrial Average dropped 142 points, or 0.3%. The S&P 500 lost about 0.2%, while the Nasdaq Composite shed 0.2%. Shares of several automakers declined after Trump on Wednesday evening announced 25% tariffs on "all cars that are not made in the United States," which will go into effect on April 2. General Motors pulled back 7.5%, while Stellantis lost 2% and Ford slipped 3%. Elon Musk's...
The S&P 500 fell 0.4%, the Nasdaq lost 0.7% and the Dow Jones sank about 180 points on Thursday, as traders digested the latest tariff announcements and fresh economic data. The Trump administration announced a 25% tariff on "all cars not made in the US," set to take effect on April 2, while Trump warned of imposing "far larger" tariffs on the EU and Canada if they coordinated efforts to counter US trade measures. Concerns are growing that these tariffs could hurt the US economy and drive inflation higher. On the data front, GDP growth for Q4 was revised slightly higher to 2.4% from...
Major bourses in Europe were lower on Thursday, with both the STOXX 50 and the STOXX 600 declining almost 1%, pressured by the auto sector. Yesterday, the Trump administration announced a 25% tariff on "all cars that are not made in the United States" due to take effect on April 2 and President Trump threatened to impose "far larger" tariffs on the EU and Canada if they work together to combat trade tariffs. The autos and part index sank about 3% to hit the lowest level since early December. Shares of Porsche (-5.4%), Mercedes-Benz (-5.4%), BMW (-4.3%), VW (-3.7%), Daimler Truck Holding...
The Hang Seng rose 95 points or 0.4% to end at 23,579 on Thursday, marking its second straight session of gains. Sentiment strengthened after U.S. President Trump suggested he may cut tariffs on China to facilitate the sale of TikTok by its owner, ByteDance. A slight drop of 0.3% yoy in Chinese industrial profits for the first two months of 2025 also provided support after a 3.3% drop in 2024. Most sectors advanced after JPMorgan joined other Wall Street banks in turning more bullish on China, raising its Q4 2025 target for the MSCI China Index to 95, about 7% higher than its prior...
The Nikkei 225 fell 0.6% to close at 37,780 on Thursday, ending a two-day rally, with automakers leading the decline after U.S. President Donald Trump announced a 25% tariff on all imported cars starting next week. Japanese automakers suffered the biggest losses, including Toyota Motor (-2%), Honda Motor (-2.5%), Subaru (-5%), Mazda Motor (-56%), and Nissan Motor (-1.7%). Meanwhile, Prime Minister Shigeru Ishiba warned that Japan would not rule out retaliatory action against Trump's auto tariffs. Technology stocks also fell following a tech-led selloff on Wall Street. Sharp declines were...
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....