Asian markets opened higher, following Wall Street's rebound. The Nikkei and Kospi jumped around 1% at the open, while US stock futures fluctuated after the Nasdaq 100 rose 0.7% and the S&P 500 gained 0.4%. In the bond market, the 10-year US Treasury yield held steady at around 4.15%. Oil stabilized after two days of declines, and shares of several US retailers rose as a US Supreme Court appearance that appeared skeptical of broad tariffs raised hopes that tariffs could be lifted. The return of buyers came after a brief decline that fueled concerns about overvaluation. Private data...
Gold's price (XAU/USD) is edging higher to around $3,027 at the time of writing on Wednesday and is turning this week's performance into green numbers. The precious metal is being bought together with other precious metals as Copper pops to a new all-time high. Copper metal is in the eye of attention after United States (US) President Donald Trump mentioned on Tuesday that Copper tariffs will be implemented in the coming weeks, which is far sooner than markets were anticipating. Meanwhile, there is also a headline risk on Ukraine, where a Black Sea ceasefire deal is on the table. Ukraine's...
The dollar was little changed on Wednesday, with weak US confidence data and concerns about the impact of broad tariffs on US growth hampering a recent recovery. The British market was in focus as Finance Minister Rachel Reeves is due to announce spending cuts later in the day, in a bid to show investors she can be trusted to fix public finances as growth falters. After briefly dropping below 150 yen, the dollar hovered at 150.20 yen, but traders were less convinced, as a chaotic week of tariffs loomed. The euro, which spent the week retreating from a five-month high, fell to $1.0776, a...
The Pound Sterling (GBP) faces selling pressure against its major peers on Wednesday. The British currency slides after the release of the United Kingdom (UK) Consumer Price Index (CPI) report for February, which showed that inflation cooled down at a faster-than-expected pace. Headline CPI increased 2.8% year-over-year (YoY) compared to estimates of 2.9% and the 3.0% increase seen in January. In the same period, the core CPI – which excludes volatile items – rose by 3.5%, against expectations of 3.6% and the former release of 3.7%. Month-on-month headline CPI grew 0.4% after deflating by...
Oil prices edged higher on Wednesday on supply concerns with the U.S. stepping up efforts to limit Venezuelan and Iranian oil exports, while a bigger-than-expected drop in U.S. crude inventories also lent support. Brent crude futures gained 15 cents, or 0.21%, to $73.22 a barrel by 0723 GMT, while U.S. West Texas Intermediate crude futures rose 16 cents, or 0.23%, to $69.16 a barrel. Both contracts hit their highest in three weeks in the previous session. "Crude oil prices maintain their bullish bias after Trump's sanctions on Venezuelan oil, raising supply-side concerns," Priyanka...
The Australian Dollar (AUD) was supported as copper futures surged to a new record high on the Comex exchange on Tuesday (3/26), benefiting from Australia's position as one of the leading copper exporters. Bloomberg reported that Trump could speed up the timetable for imposing tariffs on US copper imports. While the Commerce Department originally had 270 days from February 2025 to investigate and report on potential tariffs, recent developments suggest that the tariffs could be implemented within weeks, much sooner than the original deadline. The AUD weakened against the US Dollar (USD)...