Hong Kong stocks fell 144 points, or 0.6%, to 24,936 in early trading on Friday, ending a four-day winning streak amid widespread weakness. Caution prevails ahead of China's July CPI and PPI data due Saturday, with consumer prices expected to ease slightly and producer deflation likely to persist amid ongoing trade risks. On the domestic front, Hong Kong's foreign exchange reserves fell to a three-month low of USD 425.4 billion in July. Semiconductor Manufacturing shares plunged 4.7% after missing second-quarter profit estimates, while MGM China (-4.3%), Kingdee Intl. Software (-4.2%), SITC...
The US Dollar (USD) is mixed against its major currency peers. The USD is up a little against the GBP, JPY, AUD and NZD but has lost marginal ground against the EUR, CAD and CHF as trading here gets going, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report. USD mixed versus majors"The DXY is slightly lower, holding near yesterday's session low at 97.7 which was in effect a retest of last Wednesday slump low in the index around the Powell firing reports. We think the USD's broader rebound seen through the first half of the month has stalled and may be reversing which...
Oil prices declined for a third consecutive session on Tuesday on concerns the brewing trade war between major crude consumers the United States and the European Union will curb fuel demand growth by reducing economic activity. Brent crude futures were down 49 cents, or 0.7%, to $68.72 a barrel at 0915 GMT. U.S. West Texas Intermediate crude was at $66.60 a barrel, down 60 cents, or 0.9%. The August WTI contract expires on Tuesday and the more active September contract was down 47 cents, or 0.7%, to $65.48 a barrel. "Oil prices fell for a third straight session ... as urgency builds in...
Gold price (XAU/USD) edges lower on Tuesday after two days of gains. However, the price of the safe-haven metal may appreciate due to prevailing uncertainty ahead of US President Donald Trump's August 1 tariff deadline. Additionally, market sentiment deepens due to increasing worries about the Federal Reserve's (Fed) independence. Traders keep their eyes on the trade negotiations between the United States (US) and the European Union (EU) this week, expecting to finalize a trade deal before the August 1 deadline, when Trump has threatened to hit the bloc's exports with 30% tariffs. The EU is...
Silver price (XAG/USD) edges lower to near $38.80 during the early European session on Tuesday. Still, the white metal is close to its decadal high around $39.00. The outlook of the white metal remains bullish on upbeat demand for safe-haven assets as concerns over global trade flow continue to persist. Escalating trade tensions between the United States (US) and the European Union (EU) have raised trade tensions across the globe, given the scale of business between both economies. EU officials are preparing for countermeasures to offset the impact of additional tariffs imposed by the US,...
Gold prices climbed on Tuesday to their highest level in more than a month, supported by a weaker U.S. dollar and lower Treasury yields, as investors looked for progress in trade talks ahead of an August 1 deadline. Spot gold was little changed at $3,389.98 per ounce, as of 0503 GMT. Earlier in the session, bullion hit its highest level since June 17. U.S. gold futures held their ground at $3,402.90. "Gold's move on the upside has been pretty much supported by positive technicals and as well as reinforced by a broad base of dollar weakness," OANDA senior market analyst Kelvin Wong...