Stocks slipped on Thursday after a new inflation report showed that wholesale costs rose more than expected last month The Dow Jones Industrial Average lost 200 points, or about 0.5%. The S&P 500 shed 0.4%, while the Nasdaq Composite slid 0.3%. Investors came into the session riding high, with the S&P 500 and Nasdaq posting fresh record highs in the previous session. The benchmarks got a jolt earlier this week after the release of a cooler-than-expected consumer price inflation report for July. That report stoked hopes among investors for a rate cut from the Federal Reserve at the...
EUR/USD opened with a bullish gap on Tuesday (5/13) during the Asian session, trading near the 1.1110 level after losing more than 2.5% in the previous session. The currency pair faced challenges as the US Dollar (USD) strengthened on the back of progress in the United States (US)-China trade negotiations. Over the weekend, the United States and China reached a preliminary deal in Switzerland aimed at significantly reducing tariffs, signaling a potential de-escalation in trade tensions. Under the deal, the US will lower tariffs on Chinese goods from 145% to 30%, while China will cut tariffs...
USD/JPY weakened after posting a more than 2% gain in the previous session, trading around 147.90 during Asian trading hours on Tuesday (5/13). The currency pair depreciated as the Japanese Yen (JPY) strengthened despite lingering uncertainty over the Bank of Japan (BOJ) interest rate outlook. BOJ Vice Governor Shinichi Uchida acknowledged both upside and downside risks stemming from potential US tariffs, noting that such measures could weigh on the Japanese economy. He added that Japan's economic growth is expected to slow to its potential level before gradually recovering, assuming...
Gold steadied after a sharp selloff as a major de-escalation in US-China trade tensions hurt demand for safe-haven assets. Bullion traded near $3,237 an ounce — after falling 2.7% on Monday — with investors betting on a recovery in stocks and riskier assets. The world's largest economies agreed to a temporary tariff rollback, with the US cutting duties on Chinese goods to 30% from 145% for a 90-day period, while Beijing lowered its levy on most goods to 10%. The US dollar rose the most since a post-election rally in November, while Treasury yields rose — both acting as a drag on gold....
Silver trades sideways in $32.00–$33.00 range as trade optimism offsets Dollar strengthUS-China tariff de-escalation lifts sentiment but pressures safe-haven demand for Silver.Silver price ended Monday's session with losses of over 0.40% as upbeat news from last weekend's meetings between US and Chinese delegations delivered an agreement to reduce tariffs for 90 days, marking the beginning of negotiations. The XAG/USD trades at $32.56, unchanged as Tuesday's Asian session begins.Silver price has consolidated within the $32.00-$33.00 range over the last five trading days, amid a lack of...
Oil prices rose about 1.5% to settle at a two-week high on Monday, after the U.S. and China agreed to temporarily slash tariffs, raising hopes of an end to the trade war between the world's two biggest economies. Brent crude futures rose $1.05, or 1.6%, to settle at $64.96 a barrel. U.S. West Texas Intermediate (WTI) crude gained 93 cents, or 1.5%, to settle at $61.95. Both benchmarks notched their highest settlements since April 28. The U.S. and China tapped the brakes on tariffs, sending Wall Street stocks, the U.S. dollar and crude prices sharply higher on hopes the world's two biggest...