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
The Australian Dollar (AUD) appreciates against the US Dollar (USD) on Wednesday after registering over 0.5% losses in the previous session. The AUD/USD pair remains in positive territory following the release of mixed economic data from Australia. Australian Bureau of Statistics (ABS) showed that Gross Domestic Product (GDP) grew by 0.2% quarter-over-quarter in Q1, declining from the previous 0.6% growth. Australia's economy fell short of the expected 0.4% rise. Meanwhile, the annual GDP growth rate remained consistent at 1.3%, below the expected 1.5%. Moreover, the S&P Global...
The US dollar index eased to around 99.1 on Wednesday, giving back some of the previous session's gains as investors awaited a series of labor market reports that could shape the Federal Reserve's policy outlook. Focus now turns to the ADP private payrolls report due Wednesday, followed by weekly jobless claims on Thursday and the closely watched May jobs report on Friday. On Tuesday, JOLTs data showed job openings unexpectedly rose to 7.39 million in April, up from March's revised 7.2 million and well above the 7.1 million consensus forecast suggesting continued labor market...
Gold rose toward $3,370 per ounce on Wednesday, recouping some losses from the previous session as rising geopolitical and economic risks boosted its safe-haven appeal. On Tuesday, the OECD lowered its global growth outlook, citing mounting pressure on the US economy from escalating trade tensions. This was compounded by weak US factory orders but tempered by signs of labor market resilience. Meanwhile, President Trump's tariffs on steel and aluminum took effect Wednesday, further straining global trade relations. Tensions between Washington and Beijing also remained high after mutual...
Brent crude oil futures edged lower to around $65 per barrel on Wednesday, trimming gains from the previous session as markets weighed OPEC+ plans to increase output and growing economic concerns linked to tariffs. On Tuesday, the OECD lowered its global growth outlook, citing mounting pressure on the US economy from escalating trade tensions. Limiting further losses, industry data showed a larger-than-expected drop in US crude inventories, with stockpiles falling by 3.3 million barrels last week well above the forecasted 0.9 million-barrel decline. Geopolitical risks also supported...
Gold edges higher in the early Asian session amid geopolitical tensions that typically enhance its safe-haven appeal. Ukraine on Tuesday attacked the Kerch Bridge, which connects occupied Crimea with Russia. "Geopolitical tensions add to the appetite for gold and could support a return to the upside," DHF Capital's Bas Kooijman says. Also, worries over fiscal imbalances and expectations for Fed rate cuts later this year should continue to lend support to the precious metal, the CEO and asset manager adds. Spot gold is 0.2% higher at $3,358.83/oz. Source: Bloomberg