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 (XAG/USD) is showing muted price action on Wednesday, slipping modestly lower but staying within Tuesday's range. At the time of writing, the metal is trading around $35.75 during the American session, down roughly 0.46% on the day. The subdued movement reflects fading safe-haven demand, as signs of easing geopolitical tensions — particularly the truce between Iran and Israel — have cooled the recent risk premium that helped drive Silver to multi-year highs. Silver is showing early signs of technical fatigue after a strong multi-week uptrend that saw the metal climb from sub-$30...
The dollar index was at the 98 mark on Wednesday, halting the slide that tested three-year lows yesterday as markets continued to assess the monetary policy outlook for the Federal Reserve. In his first testimony before Congress, Chairman Powell noted that the uncertain economic backdrop drove FOMC members to wait for clarity on trade policy before committing to a specific rate path. Still, Powell noted that the lack of tariffs favor the continuation of a disinflationary outlook, favoring rate cuts should the White House refrain from reintroducing tariffs on the July 9th deadline. In the...
Oil prices recovered a little on Wednesday after slumping earlier this week, as investors assessed the stability of a ceasefire between Iran and Israel, while support also came from data that showed U.S. demand was relatively strong. Brent crude futures were up 63 cents, or 0.9%, at $67.77 a barrel at 1050 GMT, while U.S. West Texas Intermediate (WTI) crude was up 60 cents, or 0.9%, to $64.97. Brent settled on Tuesday at its lowest since June 10 and WTI at its lowest since June 5, both before Israel launched a surprise attack on key Iranian military and nuclear facilities on June...
Gold (XAU/USD) is trading within a tight range on Wednesday, as markets continue to show signs of optimism following Tuesday's ceasefire between Israel and Iran. At the time of writing, Gold is holding above $3,300 during the European session, with volatility remaining subdued. Market focus is now on key US macroeconomic releases and the second day of testimony from Federal Reserve Chair Jerome Powell. With tensions in the Middle East appearing to remain subdued, Wednesday's economic data releases and comments from Powell could serve as an additional catalyst for Bullion. US New Home...
The Pound Sterling (GBP) holds onto gains near a fresh three-year high around 1.3650 against the US Dollar (USD) during European trading hours on Wednesday. The GBP/USD pair strengthens as the US Dollar continues to underperform its peers, as its safe-haven demand has diminished significantly after the announcement of a ceasefire between Israel and Iran on Tuesday. During the European trading session, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, struggles to hold the weekly low around 98.00. On Tuesday, United States (US) President Donald...