European stocks closed sharply lower on Thursday after a brief uptick the previous day as investors weighed a fresh round of mixed corporate earnings and signs of higher unemployment in the US. The STOXX 50 fell 1% to 5,613 and the STOXX 600 fell 0.7% to 567. Commerzbank shares slipped 2% after the lender reported a surprise 7.9% year-on-year drop in net profit. Also, Diageo fell 6.5% following a downgrade to its full-year outlook, while Maersk lost 5.1% despite posting upbeat results and Rheinmetall fell 0.5% despite posting a 20% increase in sales. On the upside, DHL jumped 5.4% to rank...
The dollar weakened on Monday as an early rally from a three-year low ended, with markets haunted by a series of tariff-related remarks from U.S. President Donald Trump that last week shook investor confidence in the world's reserve currency. Investors were bracing for a tumultuous week as Trump's tariffs and then sudden delays on U.S. imports continued to stir confusion. The dollar reversed early gains as Asian trading began, falling against the Swiss franc toward a 10-year low hit on Friday. The dollar was last trading 0.05% lower against the Swiss franc at 0.8158. The pound pared...
The Australian dollar (AUD) continued its gains against the US dollar (USD) on Monday (14/4), supported by improving risk sentiment. The AUD/USD pair strengthened after US President Donald Trump announced less stringent tariffs on Chinese imports, including semiconductors and electronics, on Sunday night. Clarifying earlier speculation about exemptions, Trump confirmed these goods would remain subject to the existing 20% tariffs on fentanyl, instead of the previously suggested 145% tariff. Stronger commodity prices provided further support for the Australian dollar. However, persistent...
The Japanese Yen (JPY) attracted fresh buyers at the start of a new week and remained within striking distance of its highest level since late September 2024 hit against the broadly weakening US Dollar (USD) last Friday. Concerns about the rapidly escalating US-China trade war and its impact on the global economy continued to support traditional safe-haven assets, including the JPY. Further, hopes that Japan might reach a trade deal with the US turned out to be another factor offering support to the JPY. Meanwhile, signs of broadening inflation in Japan keep the case for further interest...
The GBP/USD pair moved higher at the start of a new week and traded just below the 1.3100 level during the Asian session (4/14), within striking distance of Friday's swing high. Moreover, the bearish sentiment surrounding the US Dollar (USD) suggests that the path of least resistance for spot prices remains to the upside. The initial market reaction to US President Donald Trump's decision last week to pause all-encompassing tariffs for 90 days turned out to be short-lived amid growing fears of a US recession amid the escalating US-China trade war. China's 84% tariffs on US goods went into...
Oil prices fell early in Asia. A series of mixed signals from the Trump administration over the weekend regarding tariffs on smartphones, laptops and other electronics have fueled fresh uncertainty over US trade policy. Changes in US tariff policy continue to drive dramatic swings in commodity prices, Olivia Cross of Capital Economics said in a note. "In the short term, policy announcements will likely be the main driver of commodity prices, along with economic data that may reflect the impact of tariffs on industrial activity and trade," the climate and commodities economist added....