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 traded mostly higher on Wednesday as investors digested a wave of earnings and Eurozone GDP data. The Stoxx 600 rose 0.4%, extending its longest winning streak since January, while the Stoxx 50 was flat to slightly lower. Autos gained nearly 1%, supported by a softer stance on US automotive tariffs after President Trump signed an order reducing duties on inputs like steel and aluminum, though the 25% vehicle import rate remains. In corporate updates, Stellantis (+2.5%) suspended its full-year outlook due to trade risks. UBS (+2%) beat expectations with a $1.692B...
Japan stocks were higher after the close on Wednesday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 0.57% to hit a new 1-month high. The best performers of the session on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which rose 14.56% or 100.00 points to trade at 787.00 at the close. Meanwhile, TOTO Ltd. (TYO:5332) added 9.49% or 329.00 points to end at 3,794.00 and Tokuyama Corp. (TYO:4043) was up 7.31% or 198.00 points to 2,906.00 in late trade. The worst performers of the session were Mitsui...
(Hong Kong) As April inches towards its final trading day, the Hang Seng Index opened higher by 30 points or 0.13%, reaching 22,038 points. Concurrently, the Hang Seng China Enterprises Index dropped by 16 points or 0.2%, settling at 8,051 points, while the Hang Seng TECH Index rose by 10 points or 0.2%, closing at 5,030 points. In the tech sector, notable developments unfolded with Tencent edging up by 0.4%, Alibaba climbing by 1.2%, Meituan seeing no significant change, Xiaomi Group declining by 0.4%, JD.com slipping by 0.1%, and Kuaishou ascending by 0.1%.Following the release of...
Asia-Pacific markets trade mixed Wednesday as traders parse a slew of key economic data in the region. Japan's benchmark Nikkei 225 rose 0.14% while the Topix added 0.5%. South Korea's Kospi slipped 0.2% and the Kosdaq dipped 0.25%. Australia's benchmark S&P/ASX 200 traded flat. Hong Kong's Hang Seng Index slid 0.53% while China's CSI 300 traded flat after China's manufacturing activity fell more-than-expected into contractionary territory in April.The Bank of Japan kickstarts its policy meeting on Wednesday, and is widely expected to hold rates at 0.5% when the meeting concludes on...
Japanese shares rose on Wednesday as markets reopened following a one-day holiday. The Nikkei 225 edged up 0.2% to around 35,900, while the broader Topix Index climbed 0.7% to 2,670, extending recent gains. Investor sentiment was buoyed by comments from US Treasury Secretary Scott Bessent, who said the US held "substantial talks" with Japan regarding a potential trade agreement. However, domestic data provided a mixed picture—industrial production declined more than expected in March, and retail sales growth fell short of forecasts. Attention now shifts to the Bank of Japan's upcoming policy...
U.S. stocks closed higher on Tuesday, boosted by reports that a major trade deal is nearing completion and corporate earnings. The S&P 500 rose 0.58%, posting its sixth straight gain and marking its longest winning streak since November. The Dow Jones Industrial Average rose 300 points, or 0.75%, its best gain since July, while the Nasdaq Composite added 0.55%. Honeywell (+5.4%) and Sherwin-Williams (+4.9%) led the Dow after reporting strong quarterly results. General Motors fell 1.1%, after canceling its share buyback and withdrawing its outlook on possible tariffs while Amazon was...
European markets closed higher on Tuesday after investors pored over a raft of earnings for indications of the impact of U.S. tariffs and global economic uncertainty. The Stoxx 600 index closed 0.4% higher, with utilities and health care leading gains. Regionally, the FTSE 100 closed up 0.6% — its 12th straight day of gains and its best gain in at least five years. France's CAC 40 and Germany's DAX rose 0.1% and 0.8%, respectively. Volvo Cars shares fell 10% after the automaker reported a sharp drop in first-quarter profit and suspended its full-year guidance due to market headwinds....
US stocks were muted on Tuesday as markets assessed the latest earnings and the risks that tariffs and uncertain economic policy may have on corporate returns. The three main averages were close to the flatline. Trade and economic policy uncertainty drove UPS to refrain from giving a full-year outlook, pressuring their shares by 2%. Also, while GM sank 4% after it cancelled its share buyback and pulled its outlook due to the possibility of tariffs. Additionally, Amazon fell by 1% after stating it will list the additional surcharge on its goods due to tariffs, driving White House officials...
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....