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...
Oil prices recorded limited gains on Monday after U.S. President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about U.S. tariffs on the bloc that could hurt the global economy. Brent crude futures rose 18 cents, or 0.28%, to $64.96 a barrel by 0653 GMT while U.S. West Texas Intermediate crude was up 17 cents, or 0.28%, at $61.7 a barrel. "A nice push higher in crude oil and U.S. equity futures this morning after U.S. President Trump extended the deadline," IG market analyst Tony Sycamore said. Trump said he agreed to extend a deadline for trade...
The Japanese yen steadied around 142.5 per dollar on Monday, maintaining gains after a 2% surge last week, supported by a weaker US dollar as President Donald Trump's unpredictable trade policies rattled investor confidence in US assets. Trump most recently threatened to impose a 50% tariff on the European Union, only to delay the measure days later. He also warned of a potential 25% levy on iPhones sold in the US that are not manufactured domestically, adding to broader trade policy uncertainty. At home, investors continue to gauge the Bank of Japan's policy outlook, with expectations...
The Australian Dollar (AUD) continues to gain ground against the US Dollar (USD) on Monday, marking fresh six-month highs. The AUD/USD pair receives support as the US Dollar remains under downward pressure amid rising uncertainty surrounding the United States (US) economy. The AUD's upside could be restrained due to dovish sentiment surrounding the Reserve Bank of Australia's (RBA) policy outlook. Following the previous week's 25 basis points interest rate cut by the RBA, Governor Michele Bullock mentioned that the central bank is prepared to take additional action if the economic outlook...
Oil prices edged higher in Asian trading on Monday after U.S. President Donald Trump extended a deadline for his proposed reciprocal tariffs against the European Union. However, gains were limited as oversupply worries persisted amid reports that the oil-procuring cartel, OPEC+, might hike production again in July. As of 21:18 ET (01:18 GMT), Brent Oil Futures expiring in July rose 0.2% to $64.93 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.3% to $61.69 per barrel. "We're likely to hear lots of noise this week ahead of the OPEC+ meeting on Sunday, 1 June, where...
EUR/USD extends its gains for the second successive session, trading around 1.1390 during the Asian hours on Monday. The Euro (EUR) gains ground as Bloomberg reported that US President Donald Trump agreed to extend the 50% tariff deadline on the European Union (EU) until July 9. On Sunday. European Commission President Ursula von der Leyen posted on social media that the EU was ready to move quickly in trade talks with the United States (US) but requires more time to reach a deal. US markets will be closed due to the Memorial Day holiday on Monday. On Friday, President Trump threatened in...