The Nikkei 225 Index climbed 0.5% to above 42,800, while the broader Topix Index advanced 0.75% to 3,080 on Friday, rebounding from the prior session's losses as stronger-than-expected GDP data lifted sentiment. Japan's economy expanded 0.3% in the second quarter, accelerating from a 0.1% growth in Q1 which was also the consensus forecast. The upside surprise driven mainly by net exports, which added 0.3 percentage points to growth despite headwinds from US tariffs. Globally, a hotter-than-expected US producer price inflation reading tempered bets on a supersized half-point Federal Reserve...
Oil prices rebounded more than 1% on Tuesday on a technical rebound and dip buying after the previous session's decline on OPEC+'s decision to accelerate output increases, although concerns about the market surplus outlook persisted. Brent crude was up 92 cents at $61.15 a barrel by 0309 GMT, while U.S. West Texas Intermediate crude was up 89 cents at $58.02 a barrel. Both benchmarks had settled at their lowest levels since February 2021 on Monday, boosted by OPEC+'s decision over the weekend to further accelerate oil output increases for a second straight month. "Today's modest rebound...
The GBP/USD pair is trying to hold on to its position after posting gains in the previous session, trading around 1.3300 during the Asian trading hours on Tuesday (06/05). Technical analysis on the daily chart suggests neutral near-term price momentum, as the pair ranges around the nine-day Exponential Moving Average (EMA). However, the GBP/USD pair continues to trade above the 14-day Relative Strength Index (RSI) which is holding above 50, indicating the bullish bias is still in place. Further moves will offer a clear directional trend. The GBP/USD pair faces initial resistance at the...
The USD/CHF pair struggled to capitalize on its modest Asian session uptick and is currently placed near the lower boundary of its daily range amid a subdued US Dollar (USD) price action. However, the spot prices managed to hold above the 0.8200 mark as traders opted to wait for the outcome of the two-day FOMC monetary policy meeting that began today. The Federal Reserve (Fed) is scheduled to announce its decision on Wednesday and is widely expected to keep interest rates steady. Moreover, traders have been trimming their bets that the Fed will cut interest rates in June following Friday's...
Silver (XAG/USD) prices extended its gains for the second straight session, trading around $33.10 per troy ounce during Asian trading hours on Tuesday (06/05). Precious metals prices, including Silver, rose as President Donald Trump's new tariff threats spurred demand for safe-haven assets. President Trump announced plans to direct the US Trade Representative and the Commerce Department to begin imposing 100% tariffs on films produced overseas. On Monday, he also stated that he intends to impose pharmaceutical tariffs within the next two weeks. Dollar-denominated Silver's gains could be...
Gold prices rose to a two-week high on Tuesday as concerns over U.S. President Donald Trump's tariff plans boosted interest in safe-haven metal, while investors also kept a close tab on the upcoming Federal Reserve policy meeting. Spot gold was up 1.4% at $3,380.92 an ounce, as of 0224 GMT, after hitting its highest level since April 22 earlier in the session. U.S. gold futures climbed 2% to $3,389.90. "Gold prices have a strong run-up to start this week, with investors returning to the safe-haven asset to hedge against portfolio volatility amid renewed tariff concerns from U.S. President...