European stocks closed slightly higher on Wednesday, tracking the rebound in North American equities as speculation on future AI returns continued to dictate risk sentiment. The Eurozone's STOXX 50 rose 0.2% to 5,670 and the pan-European STOXX 600 rose 0.3% to 572. Industrial giants and auto producers led the gains in the session to rebound from their losses yesterday, with Schneider Electric and Wolters Kluwer advancing between 2% and 1.5%. In the meantime, BMW surged close to 7% after posting improved margins despite dealing with tariff uncertainties in the third quarter, lifting shares...
Oil prices rose on Thursday, reversing declines in the previous three sessions, buoyed by stronger-than-expected economic data from the world's top oil consumers and signs of easing trade tensions. Brent crude futures rose 24 cents, or 0.35%, to $68.76 a barrel at 0457 GMT. U.S. West Texas Intermediate crude futures were up 33 cents, or 0.5%, at $66.71. Both benchmarks fell more than 0.2% in the previous session. U.S. President Donald Trump has said letters notifying smaller countries of their U.S. tariff rates would go out soon, and said on Wednesday that he would probably put a blanket...
Gold prices fell in Asian trade on Thursday amid some improvement in risk appetite after U.S. President Donald Trump downplayed fears that he will prematurely fire Fed Chair Jerome Powell. Broader metal prices were also subdued amid pressure from a stronger dollar, which steadied near a three-week high following sticky inflation data for June. But haven demand for gold remained upbeat, especially amid growing uncertainty over Trump's tariffs, which are set to take effect in just over two weeks. Platinum and silver also largely maintained their outperformance over gold. Spot gold fell...
The US dollar index edged up to 98.4 on Thursday, recovering slightly after a volatile previous session that ended lower amid renewed concerns over the Federal Reserve's independence. Reports emerged overnight suggesting US President Donald Trump might fire Fed Chair Jerome Powell, though Trump later denied this, saying it was "highly unlikely." On the data front, US producer prices were unexpectedly unchanged in June, supporting the case for Federal Reserve rate cuts later this year. Investors are now awaiting retail sales data, due later today, for further insight. In trade...
The Australian dollar weakened to below $0.650 on Thursday, pulling back gains from the previous session, as weaker-than-expected labor data reinforced expectations of an RBA rate cut in August. The Australian Bureau of Statistics reported that the unemployment rate rose to an over three-year high of 4.3% in June, ending its five-month hold and exceeding forecasts of 4.1%, while employment increased by just 2K, well below the expected 20K gain. The soft labor market print added to evidence of a slowing economy, strengthening the case for policy easing. Markets are now pricing in an 89%...
The Japanese yen fell to around 148 per dollar on Thursday, as investors reacted to disappointing trade figures that fueled concerns about a potential technical recession. Japan's trade surplus narrowed to JPY 153.1 billion in June 2025, from JPY 221.3 billion a year earlier and well below market expectations of a JPY 353.9 billion surplus. Exports fell 0.5% yoy to JPY 9,162.6 billion—marking a second straight monthly decline and missing forecasts of a 0.5% gain. The drop was driven by continued pressure from the US tariff campaign, raising fears that Japan's economy may contract again in...