Gold (XAU/USD) maintains its offered tone below the weekly high touched earlier this Thursday, though it manages to defend the $4,200 mark heading into the European session. The US Dollar (USD) stalls its post-FOMC decline and stages a modest recovery from its lowest level since October 24. This, along with the underlying bullish sentiment, turns out to be a key factor exerting some downward pressure on the precious metal. However, the Federal Reserve's (Fed) dovish outlook might keep a lid on any meaningful USD appreciation and act as a tailwind for the non-yielding Gold. Apart from this,...
The Hang Seng jumped 196 points, or 1.0%, to close at 19,746 on Tuesday, recovering from morning losses after China's central bank pledged to adopt supportive policies next year and ease financing costs for businesses and households. Governor Pan Gongsheng also said he intends to continue reforming the PBoC's monetary policy framework and expand its policy tools. The index closed higher for a third straight session, with positive sentiment buoyed by a Bloomberg News report that China's top leaders are scheduled to begin their annual closed-door Central Economic Work Conference next...
European markets opened higher on Tuesday, December 3, with investors keeping an eye on political turmoil in France. The pan-European STOXX 600 index opened 0.17% higher, with most sectors in positive territory except chemicals, insurance and telecoms. French financial markets were closely watched on Tuesday after Prime Minister Michel Barnier used special constitutional powers to push through a disputed budget bill without a parliamentary vote. Opposition parties on both the left and right have said they will support a motion of no confidence to bring down Barnier's minority government....
The S&P 500 and Nasdaq 100 closed at record highs to kick off December trading, gaining 0.2% and 1.1%, respectively, driven by large-cap tech stocks, while the Dow Jones slipped 128 points. Leading sectors included communication services, consumer discretionary, and technology, while real estate lagged. Tesla rose 3.4% after unveiling an update to its "Full Self-Driving" software, Super Micro Computer surged 28.7% following the validation of its financial reports, and Amazon gained 1.4% amid strong Cyber Monday momentum. Investors are closely monitoring upcoming economic data,...
European stocks closed higher on Monday, with the Stoxx 50 rising 1% and the broader Stoxx 600 gaining 0.5%, driven by strong performances from major corporates. Novo Nordisk climbed 1.9%, LVMH gained 2.6%, SAP rose 1.8%, ASML Holding advanced 1%, and Hermes International surged 4.5%. However, Stellantis shares dropped 6.3% following CEO Carlos Tavares' resignation, citing differences with the board amid struggles in the US market. Investor sentiment was clouded by political uncertainty in France, with ongoing budget tensions raising concerns about a potential no-confidence vote. Economic...
Stocks in the US were higher on the first trading day of December, with the S&P 500 rising 0.2%, the Dow Jones adding 40 points and the Nasdaq gaining 0.6%. Traders await key economic data due this week including the ISM PMIs, JOLTs and the jobs report to assess the US economic performance and the Fed's plans for December. The political situation remains in the spotlight with Donald Trump requiring a commitment from BRICS that they will neither create a new currency, nor back any other currency to replace the US dollar or they will face 100% tariffs. Consumer discretionary was by far...
The Hang Seng rose 127 points or 0.65% to close at 19,550 on Monday, marking gains for the second session amid strength across sectors. Upbeat manufacturing data from China, provided by both officials and a private survey, boosted sentiment as stimulus measures initiated in September began to take effect. Meanwhile, bets increased that the PBoC might roll out more policy easing, potentially including further reductions in the RRR and injecting more liquidity into the markets. Locally, Hong Kong's retail sales fell the least in eight months in October, with a government spokesperson saying...
European equity markets are set for a sharply lower open to start the new trading week and month, with cautious sentiment prevailing. European stocks lagged global peers in November, as concerns mounted that U.S. President-elect Donald Trump might target Europe's economy and companies with tariffs. Investors will be focused on upcoming manufacturing PMI reports from across the region, along with Italian GDP data. In corporate news, Stellantis CEO Carlos Tavares abruptly resigned on Sunday, citing "different views" with the board. In pre-market trading, Euro Stoxx 50 and Stoxx 600 futures...
The Nikkei 225 index rose 0.8% to close at 38,513, while the broader Topix index gained 1.27% to 2,715 on Monday, reversing the previous session's decline, thanks to strong gains in technology and banking stocks. Meanwhile, data showed that Japanese companies increased capital spending in the third quarter, signaling resilience in corporate confidence and reinforcing expectations that the Bank of Japan will soon raise interest rates. The top gainers in the technology and financial sectors were Disco (+1.8%), Advantest (+2.2%), Tokyo Electron (+1.4%), Mitsubishi UFJ (+1.9%) and Sumitomo...
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....