Japanese stocks experienced a sharp decline on Wednesday, led by chip and electronics stocks, which were pressured by weakness in US technology stocks overnight. The Nikkei Stock Average fell 1.9% to 50,523.00. Stocks such as Kioxia Holdings fell 11%, SoftBank Group fell 9.1%, and Advantest plunged 8.1%. This decline reflects uncertainty in the Japanese market regarding the global technology sector. The Japanese yen also weakened slightly against the US dollar, with USD/JPY trading at 153.62, slightly higher than 153.55 at the Tokyo market close the previous day. Investors are now focused...
Oil prices rose after President Donald Trump said he would shorten the deadline for Russia to agree to a ceasefire in Ukraine, adding to earlier gains from the U.S.-European Union trade deal. Brent oil prices approached $70 per barrel after closing 1.1% lower on Friday. Trump said the European Union had agreed to buy $750 billion worth of American energy products, although he and European Commission President Ursula von der Leyen appeared to disagree on some key details of the agreement. Later on Monday, Trump also said he would shorten the 50-day deadline he gave Vladimir Putin to reach a...
Gold prices held steady on Monday (July 28), with gains capped by improved risk sentiment following the trade deal between the United States and the European Union, while investors awaited the US Federal Reserve's policy meeting later this week. Spot gold was unchanged at $3,335.87 per ounce at 10:35 GMT, after hitting its lowest level since July 17 earlier. US gold futures were unchanged at $3,335.30 per ounce. Washington reached a trade framework agreement with the European Union in Scotland on Sunday, imposing 15% import tariffs on most EU goods – half the threatened tariffs – and...
Oil prices edged higher on Monday (July 28th) as investors assessed the trade deal between the United States and the European Union, while a stronger US dollar and lower oil imports from India weighed on prices. Brent crude futures rose 30 cents, or 0.4%, to $68.74 a barrel at 08:13 GMT, while US West Texas Intermediate crude was at $65.43 a barrel, up 27 cents, or 0.4%. The US-EU trade deal and the possible extension of the US-China tariff pause supported global financial markets and oil prices, said IG market analyst Tony Sycamore. The US-EU trade framework pact announced Sunday imposes...
The British pound (GBP) weakened near 1.3400 against the US dollar (USD) at the start of the week. The GBP/USD pair weakened as the US dollar attracted buying interest following the announcement of a trade framework between the United States (US) and the European Union (EU). The US Dollar Index (DXY), which tracks the greenback against six major currencies, rose near 97.90 at the time of writing. Over the weekend, US President Donald Trump announced a trade agreement with the European Union, stating that the base tariff on imports from Brussels would be 15%, half the level Trump had...
Silver prices remained under pressure on Monday, holding below $38.50 per ounce after falling more than 2% in the previous session, as recent trade agreements between the US and key partners dampened demand for safe-haven assets. Over the weekend, the US and European Union reached a trade deal that imposes a 15% tariff on most EU exports, down from the 30% previously threatened. The US also secured agreements last week with Japan and Indonesia. Meanwhile, markets are awaiting further developments in US-China trade talks, set to begin later today in Stockholm, with expectations that...