Hong Kong stocks were back in the red Friday as markets digested news of a softening U.S. job market and an unexpected decline in China's export figures. The Hang Seng Index decreased by around 244.07 points, or roughly 0.9%, to end at 26,241.83. The Hang Seng China Enterprises Index fell around 88.41 points, or 0.9%, to 9,267.56. China's exports in October slipped 1.1% year on year in US dollar terms to $305.4 billion, missing a consensus estimate of a 2.9% increase, according to a Bloomberg survey, the South China Morning Post reported. The contraction could signal a worsening outlook...
The US dollar (USD) weakened on Thursday (4/24) as a mix of mixed economic data, dovish Federal Reserve (Fed) signals, and unclear US-China tariff messages rattled market sentiment. After testing highs near 100.00 earlier in the day, the US Dollar Index (DXY) reversed course and was last seen hovering around 99.41, down 0.37%. Investors recalibrated expectations after US President Donald Trump and Treasury Secretary Scott Bessent rejected claims of unilateral tariff cuts on Chinese goods. While Trump hinted at potential tariff relief if talks resume, Chinese officials reiterated that no...
Oil prices edged up on Thursday as investors weighed a weaker U.S. dollar, potential OPEC+ production increases, mixed economic news, conflicting U.S. tariff signals and news from the Russia-Ukraine war. Brent crude futures rose 43 cents, or 0.7%, to settle at $66.55 a barrel. U.S. West Texas Intermediate (WTI) crude rose 52 cents, or 0.8%, to settle at $62.79. In the U.S., the number of people filing for unemployment benefits rose slightly last week, indicating a resilient labor market despite economic turbulence caused by tariffs on imported goods. Companies raised prices and cut...
Gold prices rose on Thursday after falling more than 3% in the previous session, helped by a weaker dollar and bargain hunting, while market attention remained focused on the latest news on U.S.-China trade relations. Spot gold was up 1.4% at $3,333.90 an ounce, as of 1:46 p.m. EDT (1746 GMT). Bullion hit a record high of $3,500.05 on Tuesday on concerns about the U.S. economy, but prices fell on Wednesday after U.S. President Donald Trump walked back his threat to fire the Federal Reserve chief and appeared to soften his stance on China. U.S. gold futures settled 1.7% higher at $3,348.60....
Gold prices rose Thursday, on renewed demand from investors in the wake of the recent selloff. At 10:25 ET (14:25 GMT), Spot gold rose 0.9% to $3,317.19 an ounce, while gold futures expiring in June rose 1.1% to $3,329.65/oz. Gold had fallen from record highs this week after U.S. President Donald Trump raised the prospect of eventually reducing steep trade duties on China. But a lack of clarity on Trump's comments, coupled with less optimistic statements from other officials, made gold's fall short-lived. Traders remained cautious towards the dollar and Treasuries, keeping gold and the...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades lower, roughly 0.60% on Thursday. The knee-jerk reaction originates from United States (US) President Donald Trump and US Treasury Secretary Scott Bessent. Both individually said that no unilateral offer was made to China from the US to lower tariffs, while Trump said that reciprocal tariffs could be revisited if negotiations are not going the way the Trump administration wants them to go, Bloomberg reports. On the economic calendar front, Durable Goods is painting a very...