European stocks closed sharply higher for a second session on Thursday with continued support from its main sectors as amid optimism that tariffs from the United States will remain below the levels that were previously threatened. The STOXX 50 gained 0.9% to 5,437 and the STOXX 600 added 0.5% to 553. The EU Commission noted it is likely to finalize parts of the trade agreements with the US, holding tariffs on most goods at 15% instead of the steeper threats by US President Trump. Allianz gained over 2%, tracking the strong performances for insurers and reinsurers after Swiss Re delivered...
The USD/CHF pair is trading higher as the US Dollar (USD) gains momentum on mixed economic signals and trade optimism, while the Swiss Franc (CHF) weakens amid broader risk-on sentiment. US President Donald Trump announced a "major trade deal" with the United Kingdom (UK), though initial excitement cooled after reports indicated that a 10% tariff on UK goods would remain in place, limiting the potential economic boost from the agreement. The US Dollar Index (DXY) remains firm, trading near 100.00 as investors digest positive economic data and trade headlines. US initial jobless claims fell...
Oil prices rose over 1% on Thursday, buoyed by hopes of a breakthrough in looming trade talks between the United States and China, the world's two largest oil consumers. Brent crude futures were up 89 cents, or 1.5%, at $62.01 a barrel at 1334 GMT. U.S. West Texas Intermediate crude rose $1.02, or 1.8%, to $59.09. The market has almost stabilised at slightly above $61 a barrel, said SEB analyst Ole Hvalbye, which along with some optimism around the tariff situation with ice-breaker talks due between the U.S. and China, was providing support. U.S. Treasury Secretary Scott Bessent will meet...
Gold prices inched lower on Thursday, ahead of U.S. President Donald Trump's likely announcement of a trade deal between the United States and Britain. Spot gold was down 0.1% to $3,362.19 an ounce as of 1318 GMT, after rising 1% earlier in the session. U.S. gold futures slipped 0.7% to $3,368.50. "The gold market has been very volatile. What you're seeing are short term investors buying and selling based on news headlines," said Jeffrey Christian, managing partner of CPM Group. "Prices could trade as low as $3,050 or as high as $3,500 on a long term basis." Trump posted on Truth Social...
EUR/USD ticks lower to near 1.1280 during European trading hours on Thursday. The major currency pair edges down as the US Dollar (USD) trades slightly higher on signals from the Federal Reserve (Fed) that there is no rush to lower interest rates, which came on Wednesday just after the central bank left interest rates unchanged in the range of 4.25%-4.50% for the third time in a row. The US Dollar Index (DXY), which gauges the Greenback's value against six major currencies, ticks higher to near 100.00. Fed Chair Jerome Powell stated that "uncertainty about the economic outlook has...
The U.S. dollar rose Thursday, retaining some strength after the Federal Reserve highlighted stagflation risks at its latest meeting, prompting traders to push out the chance of near-term rate cuts. At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, gained 0.4% to 99.877, having bounced around 0.3% in the previous session. Dollar gains on hawkish Fed The U.S. central bank kept its benchmark interest rate steady in the 4.25%-4.50% range on Wednesday, but said that the risks of both higher inflation and unemployment had risen and...