Gold (XAU/USD) is trading higher on Friday as investors remain focused on Fed expectations US economic data. At the time of writing, XAU/USD recovers above $3,350, pushing the price closer toward the upper boundary of a symmetrical triangle pattern. Traders are digesting fresh US housing data released on Friday, with Building Permits and Housing Starts for June providing further insight into the health of the real estate sector which improved significantly. Meanwhile, the University of Michigan (UoM) released the first set of preliminary Sentiment data which rose to 61.8 in Jyl, from 60.7...
Stocks fell again on Monday following yet another negative trading week for Wall Street, as investors receive little signs of progress on global trade talks. The Dow Jones Industrial Average traded 366 points lower, or 0.9%. The S&P 500 shed 1.1%, and the Nasdaq Composite lost 1.4%. The moves come after each of the three major averages logged a third weekly decline in the last four trading weeks. While the S&P 500 closed out Thursday's session higher, the broad market index still finished the holiday-shortened week 1.5% lower. The Dow Jones Industrial Average and Nasdaq Composite...
Japan stocks were lower after the close on Monday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 1.30%. The best performers of the session on the Nikkei 225 were Oji Holdings Corp. (TYO:3861), which rose 6.68% or 41.30 points to trade at 659.60 at the close. Meanwhile, Sumitomo Osaka Cement Co., Ltd. (TYO:5232) added 3.52% or 133.00 points to end at 3,913.00 and Nichirei Corp. (TYO:2871) was up 3.04% or 58.00 points to 1,969.00 in late trade. The worst performers of the session were Sumitomo...
Asia-Pacific markets traded mixed Monday as China's central bank held rates at a time when the yuan has come under pressure due to Beijing-Washington trade tensions. Mainland China's CSI 300 rose 0.18% after the People's Bank of China kept its key loan prime rates unchanged at 3.10% for 1-year loan maturities and 3.60% for 5-year loan maturities, in line with the expectations of economists polled by Reuters. Japan's benchmark Nikkei 225 fell 1.24%, while the broader Topix index declined 1.18%. In South Korea, the Kospi index was flat while the small-cap Kosdaq moved down 0.27% in choppy...
The Nikkei 225 fell 0.7% to around 34,500, while the broader Topix Index declined 0.5% to 2,545 on Monday, ending a two-day winning streak as investors turned cautious ahead of updates on US-Japan trade talks. In the latest development, Japan is reportedly considering increasing soybean and rice imports as a concession to the US. Last week, American negotiators raised concerns over barriers in Japan's automotive and rice markets, while also pressing Tokyo to expand imports of meat, fish products, and potatoes. With no major domestic economic data or earnings releases scheduled for Monday,...
Asia-Pacific markets opened mixed Monday as investors awaited China's rate decision at a time when the yuan has come under pressure due to Beijing-Washington trade tensions.Japan's benchmark Nikkei 225 fell 0.43% at the start of the day, while the broader Topix index lost 0.35%.In South Korea, the Kospi index increased 0.11% at the open while the small-cap Kosdaq was flat.Investors will be keeping a watch on the People's Bank of China's loan prime rate verdict, expected later in the day.Australian and Hong Kong markets were closed for the Easter holiday.Investors are focused on U.S....
The Nikkei 225 jumped 1.03% to close at 34,730 while the broader Topix index advanced 1.14% to 2,559 on Friday, extending gains from the previous session amid hopes that ongoing trade talks between the U.S. and Japan will lead to tariff concessions. Earlier this week, Japanese Economy Minister Ryosei Akazawa told reporters that Trump has said getting a deal with Japan is a "top priority." On the economic front, recent data showed that Japan's headline inflation eased to a four-month low of 3.6% in March, while core inflation rose as expected to 3.2%. Looking ahead, markets are focused on...
The Nikkei 225 index rose 0.2% to above 34,400 while the broader Topix index edged up 0.1% to 2,533 on Friday, extending gains from the previous session amid hopes that ongoing trade talks between the U.S. and Japan will lead to tariff concessions. Earlier this week, U.S. President Donald Trump highlighted "great progress" in the negotiations during a meeting in Washington with Japanese Economy Minister Ryosei Akazawa. On the economic front, recent data showed that Japan's headline inflation eased to a four-month low of 3.6% in March, while core inflation rose as expected to 3.2%. Looking...
U.S. stocks end a shortened week with mixed performances. For the first time on record, the DJIA drops more than 1% while the S&P 500 rises. The Dow industrials are dragged down by a 22% slide on UnitedHealth Group, after the insurer slashes its outlook. Alcoa falls 7% as it expects tariffs on aluminum to create a $100 million headwind on annual earnings. Eli Lilly gains 14% as its experimental pill to fight diabetes while reducing weight meets pivotal goals. Energy and consumer staples stocks are the top gainers among S&P 500 sectors. DJIA falls 1.3%, to 39142; the S&P 500...
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....