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...
AUD/USD retreated from a five-month high of 0.6493 hit on Monday, dropping to around 0.6450 during the Asian session on Tuesday (06/05). The decline came as the US Dollar (USD) strengthened ahead of the Federal Reserve's (Fed) upcoming monetary policy decision on Wednesday. While the Fed is widely expected to keep interest rates on hold, investors' focus remains on Chairman Jerome Powell's remarks, especially amid uncertainty over tariffs and growing pressure from President Donald Trump to cut rates. Adding to the mix, Treasury Secretary Scott Bessent said on Monday that the US was "very...
EUR/USD is hovering near the 1.1300 level to start the new trading week. Fiber has been stuck in an uncertain consolidation phase as Euro traders struggle to initiate a fresh push in either direction. European data remains limited this week: final Purchasing Managers' Index (PMI) data due later this week is unlikely to produce any surprises, and pan-European Retail Sales figures due Wednesday morning are already expected to disappoint markets, poisoning the water supply and leaving Fiber traders focused on this week's key Federal Reserve (Fed) interest rate decision. The Fed is widely...
Oil prices steadied after a sharp decline with the prospect of more OPEC+ supply weighing on the outlook, as the U.S.-China trade war continues. West Texas Intermediate crude futures were trading above $57 a barrel after falling 2% on Monday, with Brent crude settling near $60. Saudi Arabia has warned of further output increases if the group's overproducing members don't follow suit, following its decision to significantly increase output in June, delegates said. Read More: Saudi Raises Oil Prices to Asia Despite More OPEC+ Supply The supply increases by OPEC and its allies have added to...
Gold edges lower in early Asian trade on a likely technical correction after front-month gold futures closed 2.5% higher on Monday. However, support has been found at the 20-day simple moving average, and the precious metal's momentum has realigned with the well-established bullish trend on the daily chart, says Matt Simpson, market analyst at FOREX.com and City Index, in an email. Market participants will probably now monitor whether gold's latest rally can extend beyond short-covering and stabilize above key support and resistance levels, Simpson adds. Spot gold is 0.1% lower at...
The AUD/USD pair surged on Monday, reaching a fresh five-month high near the 0.6500 level. The Australian Dollar (AUD) benefits from a range of factors, including the US Dollar's (USD) weakness, a solid economic report from the US and the strengthening of global risk sentiment. The Australian Dollar's performance also mirrors broader optimism stemming from the victory of Anthony Albanese's Labor Party in Australia's parliamentary elections, signaling the continuation of stable economic policies. Meanwhile, ongoing trade talks, particularly between the US and China, have contributed to a...