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...
Gold steadied after a sharp selloff as a major de-escalation in US-China trade tensions hurt demand for safe-haven assets. Bullion traded near $3,237 an ounce — after falling 2.7% on Monday — with investors betting on a recovery in stocks and riskier assets. The world's largest economies agreed to a temporary tariff rollback, with the US cutting duties on Chinese goods to 30% from 145% for a 90-day period, while Beijing lowered its levy on most goods to 10%. The US dollar rose the most since a post-election rally in November, while Treasury yields rose — both acting as a drag on gold....
Silver trades sideways in $32.00–$33.00 range as trade optimism offsets Dollar strengthUS-China tariff de-escalation lifts sentiment but pressures safe-haven demand for Silver.Silver price ended Monday's session with losses of over 0.40% as upbeat news from last weekend's meetings between US and Chinese delegations delivered an agreement to reduce tariffs for 90 days, marking the beginning of negotiations. The XAG/USD trades at $32.56, unchanged as Tuesday's Asian session begins.Silver price has consolidated within the $32.00-$33.00 range over the last five trading days, amid a lack of...
Oil prices rose about 1.5% to settle at a two-week high on Monday, after the U.S. and China agreed to temporarily slash tariffs, raising hopes of an end to the trade war between the world's two biggest economies. Brent crude futures rose $1.05, or 1.6%, to settle at $64.96 a barrel. U.S. West Texas Intermediate (WTI) crude gained 93 cents, or 1.5%, to settle at $61.95. Both benchmarks notched their highest settlements since April 28. The U.S. and China tapped the brakes on tariffs, sending Wall Street stocks, the U.S. dollar and crude prices sharply higher on hopes the world's two biggest...
The USD/JPY pair is trading near 148.00, up approximately 2% on the day, as risk-on sentiment dominates global markets following a significant breakthrough in US-China trade relations. Over the weekend, the two economic giants agreed to a 90-day tariff reduction, with the US cutting its tariffs on Chinese imports to 30% (from 145%) and China reducing its duties to 10% (from 125%). This temporary de-escalation has sparked a rally in risky assets, weighing on traditional safe-haven currencies like the Japanese yen. The US Dollar has surged in response to the trade truce, supported by a sharp...
The Australian Dollar (AUD) is facing downward pressure as global trade dynamics shift, particularly between the United States (US) and China. Despite signs of stronger Chinese copper production, trade agreements and Federal Reserve (Fed) policies continue to shape investor sentiment, with the Fed expected to hold rates steady through the next few months. USD surges as trade war coolsThe US Dollar gains as the DXY approaches key resistance levels after news of a 90-day tariff pause between the US and China.China's copper production shows signs of expansion, alleviating concerns about global...