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...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading softer after markets digest headlines from the United States (US) President Donald Trump and his Vice President JD Vance. The index trades slightly above 104.00 at the time of writing os Tuesday, while markets assess two main stories. The first market driver comes from United States (US) President Donald Trump, who issued "secondary tariffs" of 25% on all goods from countries that still buy Oil from Venezuela. Trump eased off on the size and broadness of reciprocal...
Gold's price (XAU/USD) stabilises near $3,025 at the time of writing on Tuesday while markets are mulling tariff headlines from United States (US) President Donald Trump. The president issued an executive order on Monday to impose "secondary tariffs" of 25% on all imports from those countries buying Oil from Venezuela, which would mean a sharp rise in levies on goods from China and India. On Monday, Trump said reciprocal tariffs will be eased off for countries meeting US requests on reshoring their businesses and factories. He went further and said tariffs on cars, aluminum and...
Oil prices rose on Tuesday for a fifth day on expectations that global supply may tighten after the U.S. announced tariffs on countries that buy Venezuelan crude, although OPEC+ plans to go ahead with an output hike in May limited gains. Brent crude futures were up 46 cents, or 0.6%, at $73.46 a barrel by 1023 GMT. U.S. West Texas Intermediate crude climbed 41 cents, also 0.6%, to $69.52. Both benchmarks rose more than 1% on Monday after U.S. President Donald Trump announced a 25% tariff on countries importing oil and gas from Venezuela. Oil is Venezuela's main export and China, which is...
The Pound Sterling (GBP) trades with caution against its major peers on Tuesday. The British currency struggles as United Kingdom (UK) Chancellor of the Exchequer Rachel Reeves is prepared to unveil the Spring Statement on Wednesday. It would be interesting to watch how Reeves will promote economic prosperity, given his pledge of no more taxes and the maintenance of fiscal rules. After the Autumn Budget, Chancellor Reeves told at the Confederation of British Industry (CBI) conference in November that public services have to survive on their own means. Reeves clarified that the government...
The Australian Dollar (AUD) remained steady after Australian Treasurer Jim Chalmers presented the 2025/26 budget and the Treasury's key economic forecasts before Parliament on Tuesday, including new tax cuts, with two rounds totaling approximately A$17.1 billion. Australia's budget deficit is projected at A$27.6 billion for 2024-25 and A$42.1 billion for 2025-26. Australia's GDP is expected to grow by 2.25% in fiscal year 2026 and 2.5% in fiscal year 2027. The tax cuts are likely aimed at bolstering political support. The AUD finds support as investors anticipate the Reserve Bank of...