Hong Kong stocks plunged 332 points (-1.3%) to 25,192 in Friday morning trading, extending their decline into a second session. Selling pressure spread across most sectors, particularly financials, technology, and consumer discretionary, as regional risk appetite weakened. Sentiment was weighed down after Chinese data for July showed industrial output and retail sales below expectations, confirming slowing economic momentum amid persistent external risks, weather disruptions, and weak domestic demand. The surveyed unemployment rate also rose to 5.2%, a four-month high. Nevertheless, the...
Gold advanced amid ongoing trade war risks following US President Donald Trump's latest tariff comments, while investors await a Federal Reserve interest-rate decision later this week. While Trump suggested his administration could strike trade deals with some countries as soon as this week, he signaled no imminent accord with China. Meanwhile, the Fed is widely expected to hold rates steady when policymakers conclude their meeting on Wednesday, despite Trump ratcheting up pressure on Chair Jerome Powell, saying last week's surprisingly strong...
The British pound (GBP) surged higher to near 1.3330 against the US dollar (USD) during North American trading hours on Monday (05/05), rebounding from a fresh weekly low around 1.3260 earlier in the day. The GBP/USD pair moved higher as the US dollar (USD) faced strong selling pressure ahead of the Federal Reserve's (Fed) monetary policy decision, which is due to be announced on Wednesday. According to the CME FedWatch tool, the market is almost fully pricing in the central bank to keep interest rates unchanged in the range of 4.25%-4.50%. Therefore, the main trigger for the US dollar will...
Gold (XAU/USD) rose more than 1% on Monday (05/05) as traders turned to safe assets after an eventful weekend in the geopolitical sphere. Houthi attacks on Ben Gurion airport this weekend and Israel's pledge to fulfill its promises while preparing for a broad ground offensive in Gaza have again raised risks in the region. Meanwhile, US President Donald Trump said that military action could be an option for the US to take control of Greenland. Gold's appeal increased as traders prepared for the Federal Reserve's interest rate decision on May 7. Over the weekend, Trump again expressed his...
EUR/USD is trading slightly higher near 1.1325 during European trading hours on Monday (05/05), strengthening after hitting a three-week low of 1.1265 late last week. The major currency pair strengthened as the US dollar (USD) amid ongoing uncertainty over the United States (US)-China trade relations and as investors remained cautious ahead of the Federal Reserve (Fed) monetary policy announcement on Wednesday. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, fell near 99.80 but traded within Friday's range. Over the weekend, US President...
Gold (XAU/USD) prices maintained its bid tone heading into the European session, albeit lacked any follow-through as traders opted to wait for more cues on the Federal Reserve's (Fed) interest rate hike path before placing any directional bets. Hence, the focus would remain on the outcome of the two-day FOMC policy meeting on Wednesday, which would play a key role in influencing the near-term US Dollar (USD) price dynamics and provide some meaningful impetus to the non-yielding yellow metal. Meanwhile, US President Donald Trump's erratic trade policies kept investors on their toes....