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 dollar eases after reaching a one-month high in the previous session when the U.S. and China announced a deal to lower tariffs for 90 days. Markets are suffering a "bit of a hangover" after Monday's rally as investors take a moment to question how good the U.S.-China news really is and how long the truce will last, Swissquote Bank's Ipek Ozkardeskaya says in a note. "While recent days have brought major progress to the table, this isn't the end." The DXY dollar index falls 0.2% to 101.618 after reaching a high of 101.977 on Monday. (Newsmaker23) Source: Dow Jones Newswires
Oil prices fell on Tuesday from a two-week high, weighed down by concerns about rising supplies and some caution over the chances of a long-term deal. Brent crude futures were down 11 cents, or 0.2%, at $64.85 a barrel by 0510 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 8 cents, or 0.1%, at $61.87. Both benchmarks closed about 1.5% higher on Monday in their steepest finish since April 28. The gains come during a turbulent time for global oil markets. The U.S. and China agreed to cut steep tariffs for at least 90 days, sending Wall Street stocks, the dollar and crude...
Gold recovered on Tuesday on bargain hunting after prices fell to a more than one-week low in the previous session as a temporary truce between the US and China in tit-for-tat tariffs boosted risk appetite and dented bullion's safe-haven appeal. Spot gold rose 0.5% to $3,250.50 an ounce, as of 0458 GMT. Bullion fell 2.7% in the previous session. US gold futures rose 0.9% to $3,255.30. After two days of negotiations in Geneva, the US and China announced tariff cuts for the next three months, with US tariffs on Chinese imports dropping to 30% from 145% and Chinese duties on US imports...
USD/CHF retreats after posting more than 2% gains in the previous session, trading around 0.8430 during Asian hours on Tuesday (5/13). The decline came as the US Dollar (USD) weakened, possibly due to a technical correction. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, was trading lower near 101.50 at the time of writing. Investors now shift their focus to the upcoming US Consumer Price Index (CPI) report for April, due later today. Analysts expect the headline CPI to recover to 0.3% month-on-month from -0.1%, while the core CPI is also...
The GBP/USD pair rose near 1.3195 during the early European session on Tuesday (5/13). The pound sterling (GBP) moved higher against the greenback on positive developments surrounding the US-UK trade deal last week. The UK jobs report and US inflation will be in focus on Tuesday. US President Donald Trump said last week that he would continue to impose new 10% tariffs on imports of most UK goods but would reduce higher tariffs on British autos, steel and aluminium imports. Positive developments surrounding the US-UK trade deal lifted the cable. Further, the BOE's gradual and cautious...