The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
Silver price (XAG/USD) holds mild losses after two days of gains, trading around $38.20 per troy ounce during the Asian hours on Friday. The non-interest-bearing Silver attracts some sellers as the upbeat economic data from the United States (US) has dampened the likelihood of the Federal Reserve (Fed) easing monetary policy. It is important to note that higher interest rates make precious metal Silver less attractive for investors seeking higher returns. US Retail Sales rose by 0.6% month-over-month in June versus -0.9% prior. This figure came in above the market consensus of 0.1%....
EUR/USD recovers its recent losses registered in the previous day, trading around 1.1630 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) loses ground amid easing risk sentiment following the dovish remarks from Federal Reserve (Fed) officials. Moreover, Financial markets are now pricing in a September starting date for rate cuts, and Fed officials penciled in two easing moves later this year, according to Reuters. San Francisco Fed President Mary Daly stated that two rate cuts this year are a "reasonable" outlook, while cautioning against waiting too long....
GBP/USD gains ground after registering small losses in the previous session, trading around 1.3440 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) edges lower due to dovish remarks from the Federal Reserve (Fed) officials. San Francisco Fed President Mary Daly said that expecting two rate cuts this year is a "reasonable" outlook, while warning against waiting too long. Daly added that rates will eventually settle at 3% or higher, which is higher than the pre-pandemic neutral rate. Fed Governor Christopher Waller said late Thursday that he believes that the US...
Oil prices were little changed on Friday after rising in the previous session as concerns drone attacks on northern Iraqi oil fields will cut supply vied with worries of potential demand declines amid uncertainty in U.S. tariff policy. Brent crude futures eased 4 cents, or 0.06%, to $69.48 a barrel as of 0239 GMT, U.S. West Texas Intermediate crude futures edged down 3 cents, or 0.04%, to $67.51 a barrel. Four days of drone attacks on oil fields in Iraqi Kurdistan that shut down half of the region's output have supported prices, pushing both contracts up $1 on Thursday. Additionally,...
The Australian dollar strengthened to around $0.651 on Friday, recouping some losses in the previous session, as a surge in iron ore prices, driven by renewed optimism over Chinese economic support, lifted demand for the commodity-linked currency. The rally in iron ore came as China's June import volumes hit a 2025 high, reflecting strong restocking demand and expectations of further policy support for infrastructure and property. Traders grew more optimistic after Chinese authorities signaled fresh stimulus measures, including targeted credit easing and fiscal aid to boost construction...