US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq closed near the flatline as AI giants remained under pressure. Senate Republicans rejected Democrats' offer to scale down shutdown demands, but lingering hopes of an incoming agreement improved risk sentiment before the closing bell. The suspension of operations and government data were evidenced by the deteriorating consumer confidence measured by...
The USD/CHF pair trades with mild gains near 0.8180 during the early European session on Tuesday, bolstered by a modest rebound of the US Dollar (USD). Nonetheless, tariff uncertainty and the persistent geopolitical tensions in the Middle East might boost the safe-haven currency like the Swiss Franc (CHF) and create a headwind for the pair. As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland's main economic partner and a key political ally, so macroeconomic and monetary policy stability...
Gold pulled back on Tuesday after nearing a four-week high earlier in the session, as a slight rebound in the dollar and profit-taking added pressure, while investors remained cautious amid erratic U.S. trade policies. Spot gold fell 0.5% to $3,361.26 an ounce as of 0842 GMT, after hitting its highest since May 8 earlier in the session. U.S. gold futures eased 0.3% to $3,386.20. The dollar slightly rose from an over-a-month low hit earlier in the session, making gold costlier for foreign buyers. "This move (in gold) is bolstered by a weaker dollar and renewed demand for alternative...
Oil prices ticked up on Tuesday supported by rising geopolitical tensions as Russia and Ukraine ramped up the war and Iran was set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer. Crude had gained nearly 3% on Monday after the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, kept its July output hike at 411,000 barrels per day, the same as earlier months and less than some in the market had feared. Brent crude futures gained 43 cents, or 0.7%, to $65.06 a barrel by 0807 GMT. U.S. West Texas Intermediate...
EUR/USD trades with moderate losses, following a strong performance on the previous day. The pair is moving around 1.1420 at the time of writing, with investors focusing on the preliminary Eurozone Consumer Prices Index (CPI) numbers, due later on Tuesday. Consumer prices are expected to have cooled in May, with the headline inflation returning to a 2% year-over-year (YoY) growth rate, from the 2.2% reading seen in April. Likewise, the core CPI is seen moderating to 2.5% from April's 2.7% reading. These figures are likely to be welcomed by the European Central Bank (ECB), which is widely...
Oil prices ticked up on Tuesday on concerns about supply, with Iran set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer, while weakness in the dollar also supported prices. Brent crude futures gained 21 cents, or 0.32%, to $64.84 a barrel by 0437 GMT. U.S. West Texas Intermediate crude was up 27 cents, or 0.43%, to $62.79 a barrel, after rising about 1% earlier in the session. The oil market surged higher on Monday as rising geopolitical risks and a supply hike from OPEC+ that fell short of expectations provided a boost, said ING...