The Stoxx 50 and Stoxx 600 edged higher on Friday (August 15), extending their gains for a fourth consecutive session as investors awaited the high-stakes Trump-Putin summit in Alaska, hoping for progress in ending the Ukraine war. Sentiment strengthened despite mixed global data, including weaker factory output and retail sales in China in July. In corporate news, Pandora reported Q2 organic sales rose 8% to DKK 7.08 billion ($1.1 billion), slightly missing estimates, with U.S. sales up 12% but China sales down 15%. The jewelry company will double its planned store closures in China to...
The Japanese Yen (JPY) snaps a two-day losing streak against its American counterpart as traders opt to move to the sidelines and wait for the crucial Bank of Japan (BoJ) policy decision this Thursday. Moreover, the updated economic projections and BoJ Governor Kazuo Ueda's comments at the post-meeting press conference will be scrutinized for cues about the likely timing of the next interest rate hike. This, in turn, will play a key role in determining the next leg of a directional move for the JPY. Heading into the key central bank event risk, hopes for the potential de-escalation of the...
Oil prices take breather after selloff on supply worriesOil prices edged higher on Thursday, steadying slightly after sharp losses on the previous day driven by signs Saudi Arabia could produce more, and as the U.S. economy contracted in the first quarter. Brent crude futures rose 16 cents, or 0.3%, to $61.22 a barrel. U.S. West Texas Intermediate crude futures climbed 6 cents or 0.1%, to $58.27. WTI closed at its lowest since March 2021 on Wednesday. Saudi Arabian officials are briefing allies and industry experts to say the kingdom is unwilling to prop up the oil market with further...
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near two-week low amid easing US-China trade tensions as traders hope for US-China trade deal after US President Donald Trump's comments Risk sentiment is improving as Trump said early Thursday that there is a "very good probability that the United States will reach a deal with China, but the agreement must align with its conditions. Optimism surrounding tariff lift the Greenback and weakens demand for traditional safe-haven assets like Gold as it makes...
Gold fell for a third day on signs of progress in potential trade talks between the US and China, denting demand for safe havens. Bullion prices fell as much as 0.6% to trade near $3,275 an ounce. State-run China Central Television said the US had contacted Beijing through multiple channels. News that the Trump administration was close to announcing the first phase of a deal that would roll back planned tariffs on some countries also eased some concerns about the outlook for global trade. On Wednesday, the precious metal slid further from a record high hit last week, even after data showed...
Oil was little changed after posting its biggest monthly decline since 2021, as signs that the Saudi-led OPEC+ alliance may be entering a prolonged period of higher output added to concerns that a global trade war would hurt demand. West Texas Intermediate was trading around $58 a barrel after falling 3.7% on Wednesday, while the most-active Brent contract settled near $61. Reuters reported that Saudi officials have told allies and industry experts that the kingdom could endure a prolonged period of depressed prices, adding to existing concerns that the biggest oil exporter plans to direct...