Japanese stocks are higher thanks to a weaker yen and hopes for domestic earnings growth. Tech and energy stocks are leading gains. NEC is up 2.7% and Inpex is 2.3% higher. Meanwhile, Honda Motor is down 3.8% after it cuts its fiscal-year earnings forecasts. USD/JPY is at 153.90, up from 153.47 as of Friday's Tokyo stock market close. Investors are closely watching quarterly corporate results. Sumitomo Metal Mining and automaker Subaru Corp. are set to announce their earnings later in the day. The Nikkei Stock Average is up 0.9% at 50725.80. Source: Bloomberg
EUR/USD moves little after registering losses in the previous session, trading around 1.1380 during the Asian hours on Wednesday. The pair may appreciate as the US Dollar (USD) struggles due to traders' caution amid rising tariff uncertainty and its potential to hurt growth in the US economy. Job Openings and Labor Turnover Survey (JOLTS) Job Openings posted 7.39 million new positions in April, higher than March's 7.2 million openings. This figure surprisingly came in above the market expectation of 7.1 million. Traders await the US Nonfarm Payrolls (NFP) report for May, which is expected...
USD/CHF remains stronger for the second successive session, trading around 0.8240 during the Asian hours on Wednesday. The US Dollar continues to gain ground against its peers, potentially due to a technical correction. However, the "Sell America' trend may limit the upside of the Greenback and the pair. Traders await the potential meeting of US President Donald Trump and Chinese President Xi Jinping to resolve trade disputes. Any positive development surrounding the US-China trade disputes could improve the market sentiment. However, the two world's largest economies have recently accused...
Gold price (XAU/USD) attracts some intraday sellers following an Asian session uptick to the $3,372-3,373 area, though it lacks follow-through and holds above the overnight swing low. The US Dollar (USD) looks to build on the previous day's bounce from a six-week low, which, along with a generally positive risk tone, exerts some downward pressure on the commodity. However, a combination of factors warrants some caution before positioning for an extension of the overnight pullback from a nearly four-week high. Investors seem convinced that the Federal Reserve (Fed) will lower borrowing...
GBP/USD edges higher after registering losses in the previous session, trading around 1.3520 during the Asian hours on Wednesday. The pair may appreciate as the US Dollar (USD) attracts sellers under the "Sell America" trend amid rising tariff uncertainty, which could hurt growth in the US economy. Job Openings and Labor Turnover Survey (JOLTS) Job Openings posted 7.39 million new positions in April, higher than March's 7.2 million openings. This figure surprisingly came in above the market expectation of 7.1 million. Traders await the US Nonfarm Payrolls (NFP) report for May, which is...
The Japanese Yen (JPY) drifts lower against its American counterpart for the second straight day on Wednesday and retreats further from a one-week high touched the previous day. Bank of Japan (BoJ) Governor Kazuo Ueda's cautious remarks on Tuesday fueled speculations that the next interest rate hike won't come soon. This, along with a generally positive risk tone, is seen undermining the safe-haven JPY. Apart from this, a modest US Dollar (USD) uptick assists the USD/JPY pair to trade with a mild positive bias above the 144.00 mark during the Asian session. Meanwhile, an upward revision...