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...
Wall Street's main indexes opened higher on Wednesday, as data showed core inflation rose less than expected in December and investors cheered a strong batch of quarterly results from the biggest U.S. banks. The Dow Jones Industrial Average rose 409.5 points, or 0.96%, at the open to 42,927.76. The S&P 500 rose 62.3 points, or 1.07%, at the open to 5,905.21, while the Nasdaq Composite rose 305.9 points, or 1.61%, to 19,350.313 at the opening bell. Source: Reuters
European stock markets rose on Wednesday (15/1), ahead of the release of highly influential monthly U.S. inflation data, after U.K. consumer prices showed signs of easing. At 3:05 a.m. ET (08:05 GMT), Germany's DAX index was up 0.3%, France's CAC 40 was up 0.3% and the U.K.'s FTSE 100 jumped 0.7%. Investors are awaiting the release of fresh U.S. consumer price data, later in the session, as it could potentially change expectations for future monetary policy from the Federal Reserve. Markets have pushed expectations for the Fed's next interest rate cut into June after an unexpectedly strong...
Japanese stocks rose after the close of trading on Wednesday, as gains in the Transportation Equipment, Chemicals, Petroleum & Plastics, and Insurance sectors boosted shares. At the close of trading in Tokyo, the Nikkei 225 rose 0.09% to hit a fresh 1-month low. The best performers on the Nikkei 225 were Fanuc Corp. (TYO:6954), which rose 5.67% or 235.00 points to trade at 4,378.00 at the close of trading. Meanwhile, Toho Co., Ltd. (TYO:9602) rose 4.59% or 278.00 points to close at 6,329.00 and Keyence (TYO:6861) rose 3.75% or 2,330.00 points to 64,450.00 at the close of trading. The...
European markets are heading for a positive open Wednesday as traders await the latest U.S. inflation data that will inform the Federal Reserve's decision-making on interest rate cuts. The U.K.'s FTSE 100 index is expected to open 25 points higher at 8,221, Germany's DAX up 20 points at 20,279, France's CAC up 15 points at 7,439 and Italy's FTSE MIB up 51 points at 35,218, according to data from IG. Trading updates are set to come from Experian and Hays on Wednesday, while data releases in focus are the latest U.K. inflation figures and German full-year gross domestic product. Global...
The Nikkei 225 Index rose 0.1% to around 38,510, while the broader Topix Index climbed 0.5% to 2,695 on Wednesday, snapping a four-day losing streak. The gains came after softer-than-expected US producer inflation data provided some relief for equities. However, investors remained cautious ahead of the US consumer inflation data, which could influence the Federal Reserve's monetary policy outlook. In Japan, a private survey revealed a rebound in manufacturer sentiment for January, driven mainly by improved conditions in materials industries. At the same time, speculation is growing that the...
The S&P 500 closed nearly unchanged while the Nasdaq dipped after a volatile session on Tuesday as investors gauged inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the U.S. economy. Stocks oscillated between gains and losses throughout the day. Equities received an initial lift from a Labor Department report that showed the producer price index rose less than expected in December, although the report failed to materially affect expectations about the Federal Reserve's likely path of monetary policy this year. But early gains...
European markets gave up earlier gains to close lower Tuesday, as global investors assessed a cooler-than-expected U.S. producer price index. The pan-European Stoxx 600 index provisionally closed 0.07% lower as sectors turned mixed. Oil and gas stocks were among the worst performers, down 0.76%, after oil giant BP said its fourth-quarter profit would be dented by up to $300 million in light of weakening refinery margins. Retail stocks were also pulled into negative territory, as British sportswear retailer JD Sports tumbled near the bottom of the Stoxx 600 after lowering its profit...
Wall Street's main indexes opened higher on Tuesday, as investors assessed softer-than-expected producer inflation to gauge the Federal Reserve's monetary policy trajectory this year. The Dow Jones Industrial Average rose 69.3 points, or 0.16%, at the open to 42,366.42. The S&P 500 rose 23.1 points, or 0.39%, at the open to 5,859.27, while the Nasdaq Composite rose 119.6 points, or 0.63%, to 19,207.748 at the opening bell. Source: Reuters
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....