Asian stock markets opened higher on Friday (August 8), marking a fifth consecutive day of gains. The market's performance was supported by Japanese technology stocks, particularly Sony and SoftBank, which surged after reporting strong financial results. The MSCI Asia Pacific Index rose 0.5%, while the Nikkei 225 jumped 1.3%. US stock futures also edged higher. Meanwhile, the US dollar weakened for the sixth consecutive day, recording its longest losing streak since March 2024. The yen briefly strengthened before recovering after Japan and the US agreed to end the universal tariff policy...
The dollar weakened on Tuesday (July 22), with the yen among the currencies gaining ground against the greenback, as investors monitored negotiations ahead of an August 1 deadline that could impose steep tariffs on products from U.S. trading partners that fail to reach an agreement. Trading was largely subdued, with the Japanese currency strengthening for a second straight session following the widely expected outcome of the weekend's upper house elections in Japan. Focus has shifted to how quickly Tokyo can reach a trade deal with Washington and to Prime Minister Shigeru Ishiba's future as...
Gold climbed to a five-week high on Tuesday, drawing strength from trade uncertainty and weaker U.S. bond yields as investors continue to eye U.S. President Donald Trump's August 1 tariff deadline. Spot gold rose 0.6% to $3,415.61 per ounce by 1414 GMT, hitting its highest since June 16. U.S. gold futures were up 0.6% at $3,428.10. The yield on benchmark U.S. 10-year notes fell to a near two-week low, making non-yielding bullion more attractive. "Trade uncertainty is prompting some safe haven demand. The U.S. has got several trade deals in the works and there's rumors that the EU and the...
The Pound Sterling (GBP) demonstrates stability against its major peers on Tuesday, with investors awaiting preliminary United Kingdom (UK) S&P Global Purchasing Managers' Index (PMI) data for July, scheduled for release on Thursday. Investors will closely monitor the UK PMI data to get cues about whether the impact of a hiring slowdown has started flowing into the economy. The report is expected to show that the overall business activity grew moderately. The Composite PMI is expected to have dropped slightly to 51.9 from 52.0 in June. UK employers have restricted fresh hiring to...
The EUR/USD pair is posting marginal gains ahead of the US Session opening on Tuesday as the US Dollar retreats further with trade uncertainty growing. Meanwhile, a rather positive Lending survey from the European Central Bank (ECB), released earlier on the day, has provided additional support to the common currency. The Euro (EUR) has turned positive on the daily chart and returned above the 1.1700 level. The pair remains above Friday's high, at 1.1675, and also above the top of a bearish channel from July 1 highs, which suggests that further appreciation is likely. The ECB's survey...
The price of Gold started the new week with gains, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes. Recent record high at $3,500 is likely to approach quickly"The precious metal received support from dovish comments from the ranks of the US Federal Reserve: Fed Governor Christopher Waller reiterated his view that the Fed should cut its key interest rate as early as July. Overall, he advocates interest rate cuts of 125-150 basis points to bring the key interest rate to a 'neutral' level of around 3%. He pointed to the latest inflation data, which was again moderate...