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...
Gold rose to a five-week high on Tuesday (July 22), boosted by trade uncertainty and weakening U.S. bond yields as investors continued to monitor U.S. President Donald Trump's tariff deadline on August 1. Spot gold rose 1% to $3,428.84 an ounce at 2:10 p.m. ET (18:10 GMT), reaching its highest level since June 16. U.S. gold futures rose 1.1% to $3,443.70. The yield on the benchmark 10-year U.S. Treasury note fell to a near two-week low, making non-yielding bullion more attractive. Trade uncertainty boosted demand for safe-haven assets. "The US is working on several trade deals, and there...
Gold rose to a five-week high on Tuesday (July 22nd), driven by trade uncertainty and weakening US bond yields as investors continued to monitor US President Donald Trump's tariff deadline on August 1st. Spot gold prices rose 1% to $3,427.59 an ounce at 16:22 GMT, reaching their highest level since June 16th. US gold futures rose 1.2% to $3,442.50. The yield on the benchmark 10-year US Treasury note fell to a nearly two-week low, making non-yielding bullion more attractive. "Trade uncertainty is driving demand for safe-haven assets. The US is working on several trade deals, and there are...
The dollar weakened on Tuesday (July 22), with the yen among the currencies gaining ground against the greenback, as investors monitored negotiations ahead of an August 1 deadline that could impose steep tariffs on products from U.S. trading partners that fail to reach an agreement. Trading was largely subdued, with the Japanese currency strengthening for a second straight session following the widely expected outcome of the weekend's upper house elections in Japan. Focus has shifted to how quickly Tokyo can reach a trade deal with Washington and to Prime Minister Shigeru Ishiba's future as...
Gold climbed to a five-week high on Tuesday, drawing strength from trade uncertainty and weaker U.S. bond yields as investors continue to eye U.S. President Donald Trump's August 1 tariff deadline. Spot gold rose 0.6% to $3,415.61 per ounce by 1414 GMT, hitting its highest since June 16. U.S. gold futures were up 0.6% at $3,428.10. The yield on benchmark U.S. 10-year notes fell to a near two-week low, making non-yielding bullion more attractive. "Trade uncertainty is prompting some safe haven demand. The U.S. has got several trade deals in the works and there's rumors that the EU and the...
The Pound Sterling (GBP) demonstrates stability against its major peers on Tuesday, with investors awaiting preliminary United Kingdom (UK) S&P Global Purchasing Managers' Index (PMI) data for July, scheduled for release on Thursday. Investors will closely monitor the UK PMI data to get cues about whether the impact of a hiring slowdown has started flowing into the economy. The report is expected to show that the overall business activity grew moderately. The Composite PMI is expected to have dropped slightly to 51.9 from 52.0 in June. UK employers have restricted fresh hiring to...