USD/JPY pair edges higher to near 150.35, the highest since August 1, during the early Asian session on Tuesday. The Japanese Yen (JPY) weakens against the US Dollar (USD) on political stability concerns after Japan's ruling Liberal Democratic Party (LDP) elected a new leader. Traders will keep an eye on the Fedspeak later on Tuesday. Japan's ruling party has elected Sanae Takaichi as its new leader on Saturday, positioning the 64-year-old to be Japan's first female Prime Minister. Her victory caused traders to reduce bets that the Bank of Japan (BoJ) will hike interest rates this month,...
The S&P 500 closed higher Tuesday, underpinned by de-escalating Middle East tensions amid an Iran-Israel ceasefire and remarks by Federal Reserve chairman Jerome that kept the door open to rate cuts. By 4:00 p.m. ET (20:00 GMT), the Dow Jones Industrial Average traded 536 points, or 1.3%, higher, the S&P 500 index gained 1.2%, and the NASDAQ Composite advanced 1.6%. Iran-Israel ceasefire optimism boosts Wall StreetInvestors have been boosted by U.S. President Donald Trump declaring earlier Tuesday, via social media, that the ceasefire between Israel and Iran is now "in effect,"...
European stock markets closed higher in Tuesday trading as the Stoxx Europe 600 rose 1.11%, Germany's DAX advanced 1.60%, the FTSE 100 gained 0.01%, France's CAC 40 increased 1.04%, and the Swiss Market Index was up 1.13%. In Germany, the ifo Business Climate Index for June rose to 88.4 points in June from 87.5 points in May, indicating that companies felt slightly more positive and that the German economy is slowly gaining confidence. The reading also topped the analyst forecast of 88.1, according to Bloomberg. And in corporate news, the Spanish government cleared Banco Bilbao Vizcaya...
Stocks rose while oil prices fell on Tuesday morning, as investors bet that a delicate ceasefire between Israel and Iran would hold. The Dow Jones Industrial Average climbed 305 points, or 0.7%. The S&P 500 gained 0.7%, and the Nasdaq Composite advanced 1%. Oil prices were sharply lower for a second-straight day. U.S. crude oil slipped more than 4%, alongside international benchmark Brent. A day earlier, U.S. crude oil fell more than 7%. Airline stocks were higher as oil pulled back, with shares of United Airlines, Frontier and Delta all climbing more than 2%. Broadcom and Nvidia...
The Hang Seng soared 488 points or 2.1% to close at 24,177 on Tuesday, rising for the third session and reaching a two-week peak as all sectors advanced. Sentiment was lifted by a strong rebound in U.S. futures after President Trump announced a truce between Iran and Israel. On the policy front, Fed Vice Chair Bowman said the time to cut interest rates was nearing, citing growing risks to the labor market. Her remarks echoed Fed Governor Waller's comments on Friday, signaling a possible rate cut at the July 29–30 meeting. Investors now await Fed Chair Jerome Powell's testimony before...
The STOXX 50 jumped 1.7% and the STOXX 600 gained 1.1% on Tuesday after President Trump announced a ceasefire between Israel and Iran, which has been confirmed by both countries. If the truce holds, it would end 12 days of conflict, and send oil prices sharply lower, falling below levels seen before June 12, the day before Israel launched its attack. Meanwhile, investors turned their attention to a NATO summit starting today in The Hague, where leaders are expected to discuss security priorities given recent global tensions. Most sectors were trading in the green, with strong gains among...
The Nikkei 225 jumped 1.14% to close at 38,790 while the broader Topix index rose 0.73% to 2,781 on Tuesday, with Japanese stocks ending a three-day losing streak after U.S. President Donald Trump announced that Iran and Israel had agreed to a ceasefire. Investors largely shrugged off Iran's retaliatory attack on a U.S. military base in Qatar, which caused no casualties, and took comfort in the fact that Iran avoided targeting the critical Strait of Hormuz, easing fears of a wider disruption to global oil supplies. On the trade front, Japanese negotiator Ryosei Akazawa reportedly planned...
Hong Kong stocks jumped 400 points, or 1.7%, to 24,091 in early trading on Tuesday, rising for a third straight session and hitting a one-week high. Sentiment was boosted by a rally in U.S. futures and easing geopolitical tensions after President Trump announced a temporary ceasefire between Israel and Iran, starting around midnight Monday, Washington time. The market also welcomed comments from Fed Vice Chair Michelle Bowman, who hinted at the possibility of an interest rate cut as early as July. In China, the top legislature, known as the NPC Standing Committee, will meet this week to...
Asia-Pacific markets rose on Tuesday after U.S. President Donald Trump announced that Iran and Israel have agreed to a ceasefire. "It has been fully agreed by and between Israel and Iran that there will be a Complete and Total Ceasefire… for 12 hours, at which point the War will be deemed OVER!" Trump wrote on Truth Social. However, neither Iran nor Israel has publicly confirmed that they have accepted Trump's ceasefire timetable. Japan's benchmark Nikkei 225 rose 1.59%, while the broader Topix index gained 1.32%. South Korea's Kospi jumped 2.09% and the small-cap Kosdaq index gained...
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....