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...
A gauge of global stocks dipped for a second straight session and U.S. Treasury yields were slightly lower in choppy trading as investors digested the latest U.S. inflation data and the path of interest rates from the Federal Reserve. The Labor Department said the consumer price index (CPI) rose 0.2% for the fourth straight month, in-line with expectations of economists polled by Reuters. In the 12 months through October, the CPI advanced 2.6%, also matching forecasts, after climbing 2.4% in September. Treasury yields fell after the data, but reversed course somewhat to once again put...
The Hang Seng Index fell for the fourth day, dropping 0.1%, or 23.43 to 19,823.45 in Hong Kong. The index dropped to the lowest closing level since Sept. 25. Hong Kong Exchanges & Clearing Ltd. contributed the most to the index decline, decreasing 1.0%. WuXi AppTec Co. had the largest drop, falling 4.1%. Today, 52 of 82 shares fell, while 23 rose; all sectors were lower, led by properties stocks. Source : Bloomberg
The Hang Seng fell 23 points or 0.12% to end at 19,823 on Wednesday, closing in the red for the fourth session amid a sharp drop in US futures as concerns built that US President-elect Donald Trump's planned policies might fuel inflation and slow the pace of interest rate cuts. Markets hit their lowest in nearly seven weeks, dragged by the potential appointment of China hawks to key US cabinet positions, which could lead to a tougher stance on trade and tariffs against Beijing. Property and financials mainly retreated, with investors staying vigilant ahead of key US inflation data and...
European equity markets were poised for a lower open on Wednesday as investors prepared for key US inflation data that could influence the Federal Reserve's next policy move. Market participants also continued to assess the potential impact of US President-elect Donald Trump's policies on European economies and financial markets. Traders will focus on earnings reports from several major European companies, including ABN Amro, Allianz, Siemens Energy, SSE, and RWE, while no major economic data is scheduled for release. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were down...
The Nikkei 225 Index fell 0.7% to around 39,100 while the broader Topix Index lost 0.3% to 2,733 on Wednesday, tracking losses on Wall Street overnight as the market took a breather from the postelection rally. Domestically, data showed that Japan's producer prices rose at the fastest pace in 14 months in October, highlighting ongoing inflationary pressures. Investors also continued to evaluate the impact of Japan's 10 trillion yen stimulus plan for AI chipmakers which aims to strengthen critical supply chains amid ongoing US-China trade tensions. Technology stocks led the declines, with...
The Nikkei 225 index fell 0.7% to around 39,100 while the broader Topix index fell 0.3% to 2,733 on Wednesday, tracking losses on Wall Street overnight as markets took a breather from a post-election rally. Domestically, data showed that Japanese producer prices rose at the fastest pace in 14 months in October, highlighting ongoing inflationary pressures. Investors also continued to assess the impact of Japan's 10 trillion yen stimulus plan for AI chipmakers aimed at strengthening critical supply chains amid ongoing U.S.-China trade tensions. Technology stocks led the declines, with...
Asia-Pacific stock markets opened lower on Wednesday, tracking declines on Wall Street as the post-election rally in the U.S. stalled overnight. Asian traders were assessing corporate goods data from Japan, which showed year-on-year growth in producer prices, or wholesale inflation, in October hit its highest since July last year at 3.4%. That was higher than the 3% growth expected by economists polled by Reuters, and a 2.8% increase in September. Japan's Nikkei 225 was trading down 0.5% at the open, while the Topix was down 0.3%. South Korea's Kospi was down 1.1%, while the Kosdaq...
U.S. stocks finished lower on Tuesday as Wall Street took a breather from a postelection rally that propelled the major stock indexes to all-time highs. The Dow Jones Industrial Average lost 0.9%, ending near 43,910, according to preliminary data from FactSet. It was the worst day for the blue-chip index since Oct. 31, according to Dow Jones Market Data. The S&P 500 was off 0.3%, to finish around 5,984. The large-cap benchmark index snapped a five-session winning streak. The Nasdaq Composite dropped less than 0.1%, leaving it nearly flat at 19,281. Stocks viewed as beneficiaries of...
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....