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...
European stocks closed slightly higher on Tuesday, with the Stoxx 50 gaining 0.5% and the broader Stoxx 600 edging up 0.1% as global markets awaited the US presidential election outcome. Industrial stocks rose by 1.2%, while the autos sector fell 1.87%. Shares of Hugo Boss dropped 4.5% despite a better-than-expected Q3 operating profit, due to concerns over declining sales in the Asia-Pacific region amid China's economic slowdown. Schroders shares also plunged 13.4% following its latest trading update. Investors are closely monitoring which party will control Congress, as a...
The S&P 500 rose solidly on Tuesday as traders awaited the results from a high-stakes U.S. presidential election. The broad market index gained 0.9%, and the Nasdaq Composite advanced 1.2%. The Dow Jones Industrial Average climbed 313 points, or about 0.8%. The latest poll from NBC News suggests the race is "neck and neck" between former President Donald Trump and Vice President Kamala Harris. Close attention also remains on which party dominates Congress, given that a sweep by Republicans or Democrats could contribute to drastic spending changes or a big revamp of tax policy. The...
The Hang Seng jumped 439 points, or 2.1%, to close at 21,007 on Tuesday, rising for a third session to its highest in more than 2 weeks after Chinese Premier Li Qiang said Beijing has plenty of room for fiscal and monetary policy and that China will meet its 2024 GDP growth target of around 5%. Meanwhile, private survey data showed China's services sector expanded the most in 3 months in October, following a series of support measures in late September. At the same time, Hong Kong's private sector growth hit a 1-1/2-year high last month. Adding to the upbeat mood was a modest rise in U.S....
European stocks are headed for a weak start to the trading day as global markets prepare for Tuesday's US presidential election, with the outcome of the vote looking too close to call between former President Donald Trump and current Vice President Kamala Harris. The UK's FTSE 100 is expected to open 15 points lower at 8,177, Germany's DAX is down 12 points at 19,149, France's CAC is down 1 point at 7,374 and Italy's FTSE MIB is up 73 points at 34,358, according to data from IG. Earnings are due to come from Saudi Aramco, Adecco, Schaeffler, Deutsche Post DHL, Zalando, Hugo Boss, Bouygues,...
The Nikkei 225 Index jumped 1.11% to close at 38,475 while the broader Topix Index gained 0.76% to 2,664 in post-holiday trade on Tuesday, as a solid corporate outlook, helped in part by a weaker yen, supported Japanese equities. Sentiment also improved after Japan extended its trading hours by 30 minutes from Tuesday to encourage more stock market activity, the first such move in 70 years. Meanwhile, investors remained cautious ahead of the closely contested US presidential election and the latest Federal Reserve rate decision. Technology stocks led the charge, with strong gains from Disco...
The Hong Kong market opened lower on Tuesday, with investors' attention focused on the US presidential election, and a central bank meeting this week. The Hang Seng Index fell 157.58 points, or 0.77 percent, to open at 20,409.94. On Wall Street overnight, blue chip indices closed lower ahead of the presidential vote and a key US Federal Reserve meeting later this week, the Dow fell 0.6 percent, the S&P lost or 0.3 percent and the Nasdaq also shed 0.3 percent. Source : rthk.hk
The Nikkei 225 Index jumped 1.1% to above 38,400 while the broader Topix Index gained 0.4% to 2,655 in post-holiday trade on Tuesday, as a solid corporate outlook, helped in part by a weaker yen, supported Japanese equities. Investors also continued to assess the monetary policy outlook in the country after the Bank of Japan held interest rates steady at 0.25% last week and highlighted diminishing global economic risks that could set the stage for further rate hikes. Meanwhile, investors remained cautious ahead of the closely contested US presidential election and the latest Federal...
The Hang Seng Index rose for the second day, climbing 0.3%, or 61.09 to 20,567.52 in Hong Kong. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 1.1%. Trip.com Group Ltd. had the largest increase, rising 4.8%. Today, 48 of 82 shares rose, while 26 fell; all sectors were higher, led by commerce and industry stocks. Source : Bloomberg
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....