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 markets are expected to open in mixed territory Monday, as traders gear up for the final Federal Reserve meeting of the year. The U.K.'s FTSE 100 index is expected to open 4 points lower at 8,292, Germany's DAX up 36 points at 20,443, France's CAC down 1 point at 7,401 and Italy's FTSE MIB up 16 points at 34,876, according to data from IG. The Fed's decision on Dec. 18 stateside is front and center for global markets this week, with the CME Fedwatch tool forecasting a 96% chance of a 25-basis-point cut by the central bank. Traders will be paying close attention to the updated...
The Nikkei 225 index edged down 0.03% to close at 39,457, while the broader Topix index fell 0.3% to 2,738 on Monday, extending losses from the previous session as investors shifted their focus to the Bank of Japan's upcoming policy decision. Markets remain divided over whether the central bank will raise interest rates again or maintain its current stance when the decision is announced on Thursday. However, BOJ officials last week signaled that more time was needed to assess the latest economic data. Meanwhile, Japan's core machine orders beat expectations in October, signaling a positive...
The Hang Seng Index opened slightly lower at 19,962.29 in Hong Kong on Monday (12/16). AIA Group Ltd. was the biggest contributor to the decline, down 1.0%. Kuaishou Technology was the biggest decliner, down 1.6%. In early trading, 38 of 83 stocks were down, while 40 were up; two of four sectors were down, led by trade and industrial stocks. Source: Bloomberg
Japanese stocks were mixed on Monday, with a weaker yen supporting export-related companies such as machinery and automakers. Rising U.S. bond yields boosted banking stocks, although trading was subdued before key central bank decisions this week in Japan and abroad. The broader Topix index fell 0.1 percent to 2,744.06 as of 9:36 a.m. in Tokyo. The Nikkei index rose 0.2 percent to 39,544.74. Tokio Marine Holdings Inc. was the biggest contributor to the Topix decline, dropping 2 percent. Of the 2,126 stocks in the index, 890 rose and 1,080 fell, while 156 were unchanged. Source: Bloomberg
Asia-Pacific markets are set to mostly climb on Monday, with investors looking to several major central back decisions due this week including the Bank of Japan and the People's Bank of China. The Federal Reserve's decision on Dec. 18 stateside will also be top of mind for investors, with the CME Fedwatch tool forecasting a 96% chance of a 25-basis-points cut. The BOJ is likely to hold rates when it releases its decision on Thursday, while the PBOC will announce its loan prime rates on Friday. The one-year LPR influences corporate loans and most household loans in China, while the...