European stocks opened lower on Wednesday (November 5th), reflecting a global downturn amid growing concerns over sky-high tech valuations. The pan-European Stoxx 600 Index was down 0.4% at 8:20 a.m. in London (3:20 a.m. ET), with most major bourses and sectors in the red. The UK's FTSE 500 Index opened 0.1% lower, Germany's DAX 0.7% lower, France's CAC 40 0.4% lower, and Italy's FTSE MIB 0.3% lower. European tech companies led the decline, with the Stoxx Europe 600 Technology Index down 1.2% following a sharp sell-off in U.S. tech stocks on Tuesday. The sluggish sentiment seen in...
EUR/USD pulls back from two-week high of 1.1761 reached on Tuesday, trading around 1.1740 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) gains ground. United States (US) President Donald Trump announced a trade deal with Japan that includes a 15% tariff on Japanese exports to the US. As part of the agreement, Japan will invest $550 billion in the US and open its markets to key American products. President Trump said during a meeting with the Philippines President Bongbong Marcos on Tuesday that "I think we will get a trade deal; we're close to a trade...
Oil prices rose in Asian trading on Wednesday, lifted by optimism over a new U.S.-Japan trade deal and further supported by data showing a decline in U.S. crude stockpiles. As of 22:07 ET (02:07 GMT), Brent Oil Futures expiring in September rose 0.4% to $68.84 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.3% to $65.50 per barrel. Oil prices fell consecutively in the last three sessions amid the U.S.-EU trade conflict, and growing worries around President Donald Trump's August 1 tariff deadline. Japan trade deal lifts global growth outlook President Trump...
The dollar index stabilized around 97.5 on Wednesday, pausing a three-session slide as investors weighed the latest trade developments. President Donald Trump announced a trade agreement with Japan that includes a 15% tariff on Japanese exports to the US. He also said Japan will invest $550 billion into the US and open its markets to key American goods. Adding to the cautious optimism, Treasury Secretary Scott Bessent signaled that the current tariff truce with China is likely to be extended ahead of its August 12 expiration. The dollar had come under pressure in recent days amid rising...
The Australian Dollar (AUD) gains ground against the US Dollar (USD) on Wednesday, extending its winning streak for the fourth successive session. The AUD/USD pair appreciates amid improving market sentiment, driven by the US President Donald Trump's announcement of a major tariff deal with Japan, which includes a 15% tariff on Japanese exports. Additionally, talks between the United States (US) and China are gaining momentum ahead of the August 12 deadline. Westpac reports that its Leading Index continues to reflect weakening momentum. The six-month annualised growth rate in the...
The Japanese yen held its recent advance to around 146.5 per dollar on Wednesday, hovering at a near two-week high following news of a trade agreement between the US and Japan. The deal, announced by President Donald Trump, includes a 15% tariff on Japanese exports to the US. Trump also stated that Japan will invest $550 billion into the US and open its markets to key American goods. Prime Minister Shigeru Ishiba confirmed he had been briefed on the negotiations but offered no details, reaffirming his commitment to protecting the "national interest." Separately, reports suggested Ishiba is...