Gold futures traded flat at around $3,308 per troy ounce, after previously weakening following the Federal Reserve's decision to hold interest rates. The Fed cited the risk of inflation due to tariffs as the primary reason, reinforcing the prospect of prolonged high interest rates, which typically dampens gold's appeal. The strengthening of the US dollar over the past week has also been a major factor weighing on gold prices. A stronger dollar makes gold more expensive for global buyers and reduces its appeal as a safe-haven asset. Gold prices at the time of writing were at...
European stocks opened higher on Wednesday as investors await the latest monetary policy decision by the U.S. Federal Reserve. Traders are pricing in a 95% chance of a quarter-point cut on Wednesday, according to CME Group's Fed Watch tool. Investors will also be looking closely at the Fed's Summary of Economic Projections and Fed Chair Jerome Powell's press conference, for clues on what might happen in the coming months. The central bank is widely expected to temper runaway expectations for further interest rate cuts in the coming year, especially as inflation remains stubbornly...
The Nikkei 225 index fell 0.72% to close at 39,082 while the broader Topix index fell 0.31% to 2,720 on Wednesday, with Japanese shares falling for a fourth straight session and tracking losses on Wall Street overnight as investors braced for the U.S. Federal Reserve's policy announcement. At home, traders analyzed data showing Japan's export growth accelerated to a three-month high in November, while imports unexpectedly fell. Attention also turned to this week's Bank of Japan policy meeting, where the central bank may hold off on raising interest rates as policymakers take time to assess...
Hong Kong stocks jumped 177 points, or 0.9%, to 19,874 in early trading on Wednesday, marking their first gain in four sessions. The gains were supported by a small rise in U.S. stock futures ahead of an anticipated Fed rate cut later in the day. The market moved away from its lowest level in more than a week, hit a day earlier, with all sectors gaining, especially technology and consumer discretionary. Source: Trading Economics
Asia-Pacific markets opened mixed on Wednesday, following losses on Wall Street that sent the Dow Jones Industrial Average down for a ninth straight day. Investors in Asia were assessing trade data from Japan ahead of the Bank of Japan's interest rate decision later this week. The country's exports grew 3.8% in November year-on-year, beating economists polled by Reuters' forecasts for a 2.8% increase. Imports, meanwhile, fell 3.8%, well below expectations for a 1% expansion. The figures put Japan's trade balance in deficit at 117.6 billion yen ($765.2 million), higher than expectations...
Japan's Nikkei 225 Index fell for a fourth day on Wednesday as investors remained cautious ahead of monetary policy decisions by the Federal Reserve and Bank of Japan. A decline in U.S. semiconductor stocks also dragged on the market. The Nikkei index was down 0.2 percent at 39,275.88 as of 9:07 a.m. in Tokyo The Topix index was little changed at 2,726.90 Of the 2,126 stocks in the index, 819 rose and 1,132 fell, while 175 were unchanged If the market starts to reduce expectations for a Fed rate cut next year, it's hard to predict how U.S. stocks will react, weighing on Japanese...