Gold (XAU/USD) holds firm on Wednesday, with price action contained inside the recent consolidation zone as markets brace for the Federal Reserve's (Fed) interest rate decision. At the time of writing, XAU/USD is hovering near $4,204, down from the intraday high of $4,218. The Fed will announce its policy decision at 19:00 GMT, with markets leaning toward another 25 basis point cut that would lower the Federal Funds Rate to the 3.50%-3.75% range. Expectations for reduced borrowing costs keep Bullion broadly supported, as lower interest rates reduce the opportunity cost of holding...
Hong Kong's stocks surged 460 points or 2.3% to a near 8-week high of 20,674 during the Tuesday morning session, following a muted close the prior day. The surge was boosted by a rise in US futures after President Trump and leaders of Canada and Mexico reached a deal to put tariffs on hold for a month. Meanwhile, China is preparing to complain to the World Trade Organization to avoid tariff hikes and tech curbs imposed by the Trump administration. Locally, the city's economy grew by 2.4% yoy in Q4 2024, accelerating from a 1.9% rise in Q3 and slightly surpassing forecasts of 2.3%. Gains...
The Nikkei 225 Index surged 1.6% to around 39,150, while the broader Topix Index rose 1.4% to 2,757 on Tuesday, recouping some of the losses from the previous session. This bounce followed U.S. President Donald Trump's decision to pause tariffs on Mexico and Canada after discussions with their respective leaders. However, the U.S. is still expected to implement the proposed 10% levy on imports from China, continuing the trade policies seen during Trump's first term. In Japan, investors are focusing on Wednesday's release of the latest wage figures, which could influence the outlook for the...
Asia-Pacific markets rose Tuesday after Donald Trump paused tariffs on Mexico for a month, while Canada also said the U.S. president had put on hold proposed tariffs on its exports. Japan's benchmark Nikkei 225 started the day 1.64% higher, while the broader Topix index advanced 1.37%. South Korea's Kospi rose 1.26% while the small-cap Kosdaq gained 1.86%. Over in Australia, the S&P/ASX 200 was up 0.65%. Futures for Hong Kong's Hang Seng index stood at 20,495 also pointing to a stronger open compared to the HSI's close of 20,217.26. Source: CNBC
The Dow Jones Industrial Average on Monday staged a major comeback, recovering steep losses from earlier in the session after President Donald Trump said tariffs against Mexico would be paused for one month. The 30-stock average ended the day down 122.75 points, or 0.28%, to close at 44,421.91. At its lows of the day, the Dow was down 665.6 points, or 1.5%. The S&P 500 slid 0.76% to 5,994.57, and the Nasdaq Composite slumped 1.2% to 19,391.96. The iShares MSCI Mexico ETF (EWW) which tracks Mexican stocks, rebounded to close more than 2% higher.Stocks initially dropped Monday after...
Russia's Vladimir Putin warned Europe will quickly "stand at the feet of the master" after U.S. President Donald Trump imposed tariffs on Canada, Mexico and China, provoking a global markets meltdown and alarm among European allies. Following Trump's decision at the weekend to impose trade duties on America's closest trading partners, Russian President Putin said Sunday that Trump's second administration would "restore order" in Europe. "I assure you: Trump, with his character, with his persistence, he will restore order there quite quickly. And all of them, you will see — it will happen...
European stocks sank on Monday after US President Trump announced tariffs on China, Canada, and Mexico, but closed above its mid-session lows after the President delayed measures against Mexico slightly before the bell. The STOXX 50 dropped 1.4% to 5,214 and the pan-European STOXX 600 dropped 0.9% to 534. Trump had imposed 25% tariffs on its North American neighbors and 10% levies on China, in addition to pledges of tariffs on the EU and the UK at a future date, after a series of conflicting signals of protectionism by the administration. Auto manufacturers led the losses amid their high...
Stocks dropped to kick off February after President Donald Trump hit several key U.S. trading partners with tariffs, raising fears that a full-blown trade war would disrupt global supply chains, reignite inflation and slow the economy. The Dow Jones Industrial Average traded more 458 points lower, or 1.1%. The S&P 500 shed 1.5%, and the Nasdaq Composite slid 1.8%. The impact from the new tariffs ricocheted around the globe in a risk-off move. President Donald Trump on Saturday slapped a 25% tariff on goods from Mexico and Canada. He also placed a 10% levy on imports from China. Energy...
Shares in some of Europe's biggest carmakers plunged on Monday after U.S. President Donald Trump imposed new tariffs of 25% on goods from Mexico and Canada and 10% on imports from China, raising concerns about possible duties on EU imports as well. Volkswagen (ETR:VOWG_p) and Stellantis (NYSE:STLA), which have major operations in Mexico and are particularly vulnerable to tariffs, both fell about 6%, the biggest decliners among their peers. Volvo (OTC:VLVLY) Cars, Mercedes Benz (ETR:MBGn), BMW (ETR:BMWG) and Porsche were all down between 3.4% and 5.2% by 0843 GMT. French auto parts...
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....