The Hang Seng fell 249 points or 1.0% to close at 25,270 on Friday, slipping for the second session as all sectors dipped. Weak July data in China hit investor sentiment as industrial output grew the least in eight months, retail sales notched a six-month low, and the jobless rate rose to a four-month high of 5.2%. The Chinese statistics agency also warned of persistent risks from global headwinds and weather disruptions. Still, the index rose 1.7% for the week, its second straight gain, helped by Wall Street record highs and optimism over a possible Fed rate cut in September, as well as a...
Silver price (XAG/USD) is depreciating after registering gains in the previous day, trading around $33.00 per troy ounce during the Asian hours on Tuesday. The safe-haven demand for precious metals, including Silver, continues to weaken as trade-war concerns ease. At the same time, dollar-denominated Silver loses its appeal, with the strengthening US Dollar (USD) making it more expensive for buyers using other currencies. The USD is gaining support as optimism grows over improving US-China trade relations. US President Donald Trump recently signaled a willingness to roll back tariffs on...
The dollar barely recouped its heavy losses on Tuesday as investors were no clearer on whether a de-escalation of the Sino-U.S. trade war was underway with Treasury Secretary Scott Bessent suggesting the onus was on China to start negotiations. Bessent said in an interview on Monday that it was up to China to de-escalate on tariffs - the latest in a slew of conflicting signals over progress on trade talks between the world's two largest economies. While Trump insists there has been progress and that he has spoken with Chinese President Xi Jinping, Beijing has denied such assertions. The...
The Gold price (XAU/USD) loses ground to around $3,335 during the early Asian session on Tuesday. The yellow metal edges lower amid a modest rebound of the US Dollar (USD) and a softening in tensions between the United States and China. China exempted some US imports from its 125% tariffs on Friday, raising hopes that the trade war between the US and China is nearing an end, although China quickly knocked down US President Donald Trump's assertion that negotiations between the two countries were underway. US Treasury Secretary Scott Bessent said on Monday that the US government is in...
The USD/JPY pair faced heavy selling pressure, dropping to the 142.00 zone during North American trading hours on Monday (4/28). Investor caution has returned as broader trade optimism has eroded, boosting demand for the safe-haven Japanese yen. A temporary recovery in risk sentiment last week had pushed USD/JPY back to 144.00, but the start of the week has seen renewed yen strength ahead of key domestic and US events. Japanese markets remain closed on Monday for Showa Day, but attention is on the upcoming BoJ meeting where policymakers are expected to keep interest rates at 0.50%. However,...
The US Dollar (USD) weakened slightly on Monday (4/28) as markets kicked off a busy week, overshadowed by skepticism surrounding US trade policy. While US officials hinted at ongoing talks with Asian partners and "daily conversations" with China, Beijing reiterated that it was not engaged in negotiations, stressing the lack of winners in the tariff war. Against this backdrop, the US Dollar Index (DXY) traded slightly lower, around 99.33 at the time of writing. Optimism that US trade policy could eventually ease global tariffs is increasingly being viewed as misplaced. Analysts at Standard...