Gold price advances during the North American session on Friday as the US Dollar weakens, with traders booking profits ahead of the weekend. Additionally, a Fed Governor's comments turned more dovish than expected, supporting a rate cut in July. At the time of writing, the XAU/USD trades at $3,353, up 0.43%. The market mood is upbeat after the University of Michigan (UoM) revealed that Americans have become optimistic about the economy and expect inflation to edge lower. Recently, Fed Governor Christopher Waller suggested that the central bank should cut interest rates at the upcoming...
The Nikkei 225 Index rose 0.49% to close at 35,039 while the broader Topix Index gained 0.32% to 2,593 on Thursday, with Japanese shares rising for the second straight session and tracking Wall Street higher. The rally followed comments from U.S. President Donald Trump, who signaled a softer stance on Chinese tariffs. Treasury Secretary Scott Bessent added that the U.S. and China have a chance to reach a "big deal" on trade. Meanwhile, the U.S. reportedly informed Japan's trade delegation that Tokyo would not receive special treatment under Washington's current tariff regime, despite Japan's...
Hong Kong stocks fell 128 points or 0.6% to 21,940 in early Thursday trade, snapping gains in the previous three sessions as investors took profits after the Hang Seng touched a three-week high. US futures also dipped slightly after Wall Street overnight logged strong advances for the second straight day, supported by softer rhetoric from the White House on China tariffs and assurances that President Trump won't seek to remove Fed Chair Powell. Losses were seen across property, consumer, and tech sectors, while financials traded flat as investors awaited the April Politburo meeting for...
The Nikkei 225 Index jumped 0.8% to above 35,100 while the broader Topix Index gained 0.7% to 2,602 on Thursday, with Japanese shares rising for the second straight session and tracking Wall Street higher. The rally followed comments from U.S. President Donald Trump, who signaled a softer stance on China tariffs. Treasury Secretary Scott Bessent added that the U.S. and China have a chance to reach a "big deal" on trade. Investors also eyed progress in ongoing trade negotiations between the U.S. and Japan. On the monetary policy front, the Bank of Japan is widely expected to hold its...
Asia-Pacific markets traded mixed Thursday, tracking gains on Wall Street as a possible thaw in U.S.-China trade war fuels investor optimism. Japan's benchmark Nikkei 225 rose over 1%, extending the previous day's gains. The Topix added 0.81%. South Korea's Kospi slipped 0.47% while the small-cap Kosdaq dipped 0.15%. Australia's S&P/ASX 200 rose 0.56%. Hong Kong's Hang Seng index slipped 0.29% while mainland China's CSI 300 traded flat.South Korea's GDP contracted 0.1% in the first quarter of 2025, according to advance figures released Thursday, missing the 0.1% rise expected by a...
U.S. stocks closed higher on Wednesday, with the S&P 500 up 1.7%, the Nasdaq up 2.5% and the Dow up 419 points, as easing U.S.-China trade tensions and President Trump's assurance that he would not remove Fed Chairman Jerome Powell boosted sentiment. However, all three indexes fell from their highs as investors questioned whether a trade resolution was truly in sight. Treasury Secretary Bessent noted that Trump had not proposed unilateral tariff cuts and that talks with China had not yet begun, dampening early optimism. The remarks followed the president's remarks that tariffs might not...
European stocks closed sharply higher on Wednesday, tracking strong momentum in equity markets around the world after the US administration signaled that tariffs on China were likely to be eased in the near future. The eurozone STOXX 50 closed 2.8% higher at 5,100 and the pan-European STOXX 600 gained 1.8% to close at 517. Remarks opposing the duration of the 145% tariffs on China were made by US President Trump and Finance Minister Bessent, who expressed confidence that there would be no long-term trade embargo during the administration. The signals boosted risk assets around the world,...
Wall Street's main indexes rallied at the open on Wednesday after U.S. President Donald Trump dialed back on his threats to fire Federal Reserve Chair Jerome Powell and raised hopes for a trade deal with China. The Dow Jones Industrial Average (.DJI), rose 628.0 points, or 1.60%, at the open to 39,815.01. The S&P 500 (.SPX), rose 108.2 points, or 2.05%, at the open to 5,395.92, while the Nasdaq Composite (.IXIC), rose 579.9 points, or 3.56%, to 16,880.29 at the opening bell. Source: Reuters
The Hang Seng jumped 510 points or 2.4% to close at a more than 3-week high of 22,073 on Wednesday, rising for a third session. The rally followed a surge in U.S. futures after President Trump said he had no plans to fire Fed Chair Powell and signaled the possibility of lower tariffs on China. Trump also backed off earlier threats to remove Powell, having recently urged the Fed to cut interest rates. Financials, consumer, and tech stocks posted solid rises of 2% to over 3%, as investors looked ahead to the upcoming Politburo meeting for clearer policy direction. Citi noted the session...
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....