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...
The EUR/USD pair dipped below 1.1400 for the second straight day, boosted by the recovery of the US Dollar (USD) following an upbeat Consumer Confidence report. Additionally, weak inflation data in France weakened the common currency, which was trading on Tuesday at 1.1335, down more than 0.40%. Risk appetite improved as market participants digested news that US President Donald Trump said trade talks between the United States (US) and the European Union (EU) were gaining strength following his threat of 50% tariffs last Friday. Although he backed off, leaving some room for negotiations, it...
Oil prices fell 1% on Tuesday as investors worried about a supply glut after Iranian and U.S. delegates made progress in their talks and expectations that OPEC+ would decide to raise output at a meeting this week. Brent crude futures settled down 65 cents, or 1%, at $64.09 a barrel, while U.S. West Texas Intermediate crude fell 64 cents, or about 1.04%, to $60.89 a barrel. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are not expected to change policy at a meeting on Wednesday. However, another meeting on Saturday is likely to agree on a further...
Gold fell for a second straight session on Tuesday, as risk sentiment improved following U.S. President Donald Trump's decision to delay tariffs on the European Union. Spot gold fell 1.2% to $3,302.10 an ounce by 2:03 p.m. ET (1802 GMT) after rising nearly 5% last week. U.S. gold futures settled 1.9% lower at $3,300.40. "There's a lot of volatility in gold prices because we keep getting changes on tariffs. Right now, the market is probably under the impression that there's a deal to be reached and that's weighing on gold," said Bart Melek, head of commodity strategies at TD Securities. A...
Oil prices fell 1.5% on Tuesday, boosted by concerns about a supply glut after Iranian and U.S. delegates made some progress in their talks and expectations that OPEC+ will decide to raise output at a meeting later this week. Brent crude futures were down 99 cents, or 1.5%, at $63.73 a barrel by 1457 GMT. U.S. West Texas Intermediate crude was down $1.02, or about 1.7%, at $60.48 a barrel. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are not expected to change policy at a meeting on Wednesday. However, another meeting on Saturday is likely to agree...
Gold fell as the dollar strengthened and demand for safe-haven assets waned, with investors also weighing the prospect of improving trade relations between the U.S. and the European Union. Bullion fell 1.5% as signs that Japan may be ready to adjust its debt issuance boosted global bonds and the U.S. currency. A stronger dollar makes gold more expensive for buyers in other currencies, while lower yields on non-interest-bearing debt reduce the appeal of the precious metal. Investors are also less fearful of risk as the EU and U.S. signaled a willingness to end a standoff and work toward a...