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...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, weakened on Friday (02/05) after briefly moving above the 100.00 level. Despite stronger-than-expected US Nonfarm Payrolls data, the greenback came under pressure from dovish interpretations and emerging trade headlines involving China. Daily market movers: Not as expected The US Bureau of Labor Statistics reported that Nonfarm Payrolls rose by 177,000 in April, beating the consensus of 130,000 but lower than the revised 185,000 in March. The Unemployment Rate remained at 4.2%, while...
Gold fell on Friday and headed for a second straight weekly decline as easing trade tensions between the U.S. and China and a strong jobs report kept prices pressured. Spot gold fell 0.4% to $3,228.50 an ounce by 1:41 p.m. ET (1741 GMT). Prices were down 2.6% for the week, after hitting a record $3,500.05 on April 22. They hit their lowest since April 14 on Thursday. U.S. gold futures settled 0.6% higher at $3,243.30. China's commerce ministry said the U.S. has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for talks. "Gold looks like $3,500...
Gold edged higher on Friday, after hitting a two-week low in the previous session, but easing trade tensions and a strong jobs report kept prices on track for a second consecutive weekly loss. Spot gold was up 0.5% at $3,255.01 an ounce as of 9:41 a.m. ET (1341 GMT), after hitting its lowest since April 14 on Thursday. Prices were down 2.1% for the week, after hitting a record high of $3,500.05 on April 22. U.S. gold futures rose 1.3% to $3,262.10. China's commerce ministry said the U.S. has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for...
Oil headed for a second weekly loss as OPEC+ prepared to weigh further production increases, while traders assessed the latest developments in the US-China trade standoff. Global benchmark Brent futures traded near $62 a barrel on Friday, with the July contract down about 6% this week on expectations that Saudi Arabia will steer OPEC+ to announce another supply boost on Monday. West Texas Intermediate held below $60. Prices pared some of their losses after US government data showed that job growth was robust in April and the unemployment rate held...
Silver price (XAG/USD) moves higher to near $32.60 during European trading hours on Friday. The white metal gains as the US Dollar (USD) corrects ahead of the United States (US) Nonfarm Payrolls (NFP) data for April, which will be published at 12:30 GMT. The US Dollar index (DXY), which tracks the Greenback's value against six major currencies, retraces to near 99.90 from the two-week high of 100.37. Technically, a lower US Dollar makes the Silver price a value bet for investors. The US NFP report is expected to show that the economy added 130K fresh workers, significantly lower than the...