EUR/USD tumbles during the North American session, down 0.38% following the release of economic data from the United States (US), which triggered a reaction by investors, who trimmed their bets that the Federal Reserve (Fed) will cut interest rates. At the time of writing, the pair traded at 1.1598, having reached a high of 1.1642. Risk appetite improved after US President Donald Trump denied rumors that he planned to sack Federal Reserve Chair Jerome Powell. News flows had remained light, though economic data from the US continues to justify the Fed's current stance, which most officials...
US stocks closed higher on Wednesday (July 9th) as investors weighed the impact of expanding tariffs on corporate earnings and future Federal Reserve policy. The S&P 500 rose 0.6%, snapping a two-day losing streak, while the Dow rose 217 points and the Nasdaq 100 gained 0.7% after Nvidia briefly touched a $4 trillion valuation. The minutes of the Fed's June meeting revealed that officials viewed the newly announced tariffs as inflationary, leading them to delay further interest rate cuts earlier this year. The release came shortly after President Trump expanded the list of countries...
The European stock markets closed higher in Wednesday trading as the Stoxx Europe 600 rose 0.73%, Germany's DAX advanced 1.30%, the FTSE 100 was up 0.15%, France's CAC 40 increased 1.44%, and the Swiss Market Index gained 0.30%. In corporate news, British oil and gas giant BP said Wednesday that it reached an agreement to sell its mobility and convenience and BP pulse businesses in the Netherlands, which includes 300 fuel retail sites and 15 electric vehicle charging hubs, to Catom. Pharmaceutical company Merck said Wednesday that it has agreed to acquire UK-based biopharmaceutical company...
Wall Street's main indexes opened higher on Wednesday, as investors shrugged off President Donald Trump's aggressive tariff moves and kept a close watch on negotiations with global trade partners. At 9:31 a.m. ET, the Dow Jones Industrial Average opens new tab rose 177.94 points, or 0.40%, to 44,418.70, the S&P 500, opens new tab gained 25.54 points, or 0.41%, to 6,251.06 and the Nasdaq Composite, opens new tab gained 118.04 points, or 0.58%, to 20,536.50. Source: Reuters
The Hang Seng lost 256 points or 1.1% to close at 23,892 on Wednesday, giving up gains from the prior session amid weak data from China. Consumer prices on the mainland edged up in June for the first time in five months, but deflation risks lingered. Meanwhile, producer prices fell the most in two years as muted demand and tariff-related uncertainties intensified price competition. Losses were broad-based, driven by falls tech, property, and consumers. Henderson Land plunged 8.6% after issuing a HKD-denominated convertible bond. Other notable laggards included Sun Hung Kai Properties...
The Nikkei 225 rose 0.33% to close at 39,821 on Wednesday, while the broader Topix Index advanced 0.41% to 2,828, extending gains from the previous session despite growing trade tensions. Investors assessed the latest tariff developments from Washington, where US President Donald Trump confirmed that there would be no revisions or delays to the updated duties targeting 14 countries. Japan is set to face a 25% tariff beginning August 1. Japanese Prime Minister Shigeru Ishiba called the move "truly regrettable" but emphasized that Tokyo will continue talks with the US in pursuit of a...
Hong Kong shares fell 197 points, or 0.8%, to 23,953 around midday Wednesday, reversing gains from the previous session after U.S. President Donald Trump escalated his global trade war by threatening a 50% tariff on copper and signaling upcoming levies on semiconductors and pharmaceuticals. In China, consumer prices rose slightly in June after four months of decline, indicating that deflationary pressures remained elevated. Meanwhile, producer prices saw their steepest drop in near two years amid intense competition, weak demand, and mounting U.S. tariffs. Losses were almost broad-based,...
The Nikkei 225 dipped 0.05% to around 39,670 on Wednesday, while the broader Topix Index edged up 0.25% to 2,823, as Japanese stocks struggled for clear direction amid heightened trade tensions. Investors weighed the latest tariff developments out of Washington, with US President Donald Trump confirming there would be no changes or extensions to the updated duties targeting 14 countries. Japan is set to face a 25% tariff beginning August 1. Japanese Prime Minister Shigeru Ishiba said Tokyo will continue negotiations with the US in search of a mutually beneficial outcome. Meanwhile, Trump...
Asia-Pacific markets were set to open mixed Wednesday after U.S. President Donald Trump ruled out a deadline extension on tariffs which are set to kick off on Aug. 1. Trump on Tuesday stateside also announced a 50% levy on copper imports and indicated that further sector-specific tariffs will be announced soon. He also threatened to impose up to 200% tariffs on pharmaceuticals imported into the U.S., but said that he will "give people about a year, year and a half" until the duties go into effect. Here are the opening calls for the day Good morning from Singapore. Investors will also be...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
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....