Gold (XAU/USD) retreats slightly after touching a fresh all-time high earlier this Tuesday, though any meaningful corrective slide seems elusive amid a supportive fundamental backdrop. The US Dollar (USD) attracts some buyers for the second straight day and turns out to be a key factor undermining demand for the commodity. Apart from this, the underlying bullish sentiment contributes to capping the safe-haven bullion amid still overbought conditions on short-term charts. However, the growing acceptance that the US Federal Reserve (Fed) will lower borrowing costs two more times this year...
European stock markets ended the first trading day of the week lower. The Stoxx Europe 600 index was down 0.1%, France's CAC 40 was lower by 0.2%, and Germany's DAX was off by 0.3%. The U.K.'s FTSE 100 closed marginally in the black, with a 0.02% gain. President Donald Trump's move to double tariffs on steel and aluminum imports to 50% is likely to bite wind energy developer Orsted, according to analysts. The Danish multinational booked a loss of 1.2 billion Danish kroner ($183 million) in its first-quarter results in May after the U.S. imposed 25% tariffs on imports of steel and...
The Dow Jones Industrial Average dipped Monday, the first trading day of June, as global trade tensions increased. The 30-stock average lost 181 points, or 0.4%. The S&P 500 also pulled back 0.2%, while the Nasdaq Composite gained 0.2%. China pushed back against U.S. accusations that it had violated a temporary trade agreement. Instead, the country blamed Washington for failing to uphold the deal — a sign that negotiations between the world's two largest economies are deteriorating. Tensions reignited following a brief pause after U.S. Treasury Secretary Scott Bessent and Chinese Vice...
The Hang Seng fell 132 points or 0.6% to close at 23,158 on Monday, marking its second straight decline amid broad sectoral losses. Renewed Sino-U.S. trade tensions weighed on sentiment after China rejected President Trump's claims that it had violated a Geneva trade deal, calling the accusations "groundless" and vowing to take "forceful measures" in response. U.S. futures also dropped sharply after Trump announced a steel tariff hike to 50% starting Wednesday, with the European Commission warning of possible retaliation. However, markets trimmed earlier losses after Treasury Secretary...
European stocks started June in the red, with both the STOXX 50 and STOXX 600 falling nearly 0.6%, retreating after gains of around 4% in May. The decline comes amid escalating geopolitical tensions, with China accusing the US of violating their recent trade agreement, following President Trump's accusations last week that China had broken the deal. Also, Trump announced plans to double tariffs on steel and aluminum to 50% from 25%, a move that has drawn criticism from the EU. Meanwhile, traders are bracing for the ECB's monetary decision later this week, with expectations of another rate...
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 1.32%. The best performers of the session on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which rose 5.92% or 45.00 points to trade at 805.00 at the close. Meanwhile, Fujitsu Ltd. (TYO:6702) added 4.31% or 143.00 points to end at 3,461.00 and T&D Holdings, Inc. (TYO:8795) was up 4.10% or 136.00 points to 3,450.00 in late trade. The worst performers of the session were SUMCO Corp....
Hong Kong shares tumbled 507 points, or 2.2% to 22,774 in early trade on the first trading day of June, marking the second straight session of losses and hitting a three-week low. The selloff followed renewed U.S.-China trade tensions after Beijing today accused Washington of "seriously violating" a truce reached in May and vowed "strong and resolute measures" in response. This came after President Trump claimed Friday that China had "totally violated" the agreement, pointing to reduced rare earth exports. Meanwhile, U.S. futures slumped after Trump pledged to double steel tariffs to 50%,...
Asia-Pacific markets traded mixed after President Donald Trump told U.S. steelworkers late Friday that he will double tariffs on steel imports to 50%, effective from Wednesday. Japan's benchmark Nikkei 225 fell 0.89% and the Topix declined 0.65% at the open. South Korea's Kospi added 0.16% while the small-cap Kosdaq traded flat. Australia's S&P/ASX 200 was also unchanged at the open. Hong Kong's Hang Seng index declined 1.66%.China, Malaysia and New Zealand markets are closed for the holidays. "We're going to bring it from 25% to 50%, the tariffs on steel into the United States of...
The Nikkei 225 Index dropped 1.3% to below 37,500 while the broader Topix Index lost 0.9% to 2,777 on Monday, declining for the second consecutive session as renewed tariff threats from US President Donald Trump rattled markets. Market jitters were triggered by Trump's announcement of plans to double tariffs on steel imports to 50%, effective June 4. The news weighed heavily on Japanese steelmakers, with JFE Holdings and Kobe Steel dropping 1.8% and 1.0%, respectively. Nippon Steel slipped 0.5%, cushioned somewhat by Trump's praise of its proposed merger with US Steel. Losses extended...
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....