European stocks closed slightly higher on Wednesday, tracking the rebound in North American equities as speculation on future AI returns continued to dictate risk sentiment. The Eurozone's STOXX 50 rose 0.2% to 5,670 and the pan-European STOXX 600 rose 0.3% to 572. Industrial giants and auto producers led the gains in the session to rebound from their losses yesterday, with Schneider Electric and Wolters Kluwer advancing between 2% and 1.5%. In the meantime, BMW surged close to 7% after posting improved margins despite dealing with tariff uncertainties in the third quarter, lifting shares...
Gold eased on Monday as the dollar strengthened, as investors awaited fresh catalysts after last week's rally saw bullion hit three consecutive record highs, helped by geopolitical and economic concerns, and hopes of a U.S. interest rate cut. Spot gold was down 0.2% at $3,016.43 an ounce, by 0302 GMT. U.S. gold futures were steady at $3,020.80. Gold hit a record high of $3,057.21/oz on Thursday. The dollar index is hovering near a three-week high, making dollar-priced bullion more expensive for overseas buyers. "Gold is still well positioned for further upside if markets remain nervous...
The Japanese yen continued to weaken against its US counterpart for the third straight day on Monday (3/24) and continued to weaken in response to weaker March Purchasing Managers' Index (PMI). Moreover, positive sentiment in equity markets was seen as another factor undermining the safe-haven JPY. However, the possibility of further interest rate hikes, supported by expectations that strong wage growth could fuel broader inflation trends, might hold JPY investors from placing aggressive bets. Additionally, the recent narrowing of interest rate differentials between Japan and its peers...
The GBP/USD pair continues to show resilience below the 1.2900 round-figure mark and attracted some buyers who took some buying action during the Asian session on Monday (3/24). The spot prices are currently trading around the 1.2930 region, up nearly 0.10% for the day, and for now, seems to have snapped two consecutive days of the downtrend to one-and-a-half-week lows touched on Friday. The US Dollar (USD) started the new week on a weaker note and stalled its three-day recovery move from multi-month lows, which, in turn, was seen as a key factor that acted as a tailwind for the GBP/USD...
EUR/USD halted a three-day losing streak, trading around 1.0840 during Asian hours on Monday (3/24). The pair strengthened as concerns over a US economic slowdown, fueled by President Donald Trump's trade policies, weighed on the US Dollar (USD). Investors now focus on the preliminary March Purchasing Managers' Index (PMI) data for the Eurozone, Germany, and the United States (US), due later in the day. The EUR/USD pair also benefited from improved risk sentiment as the White House revised its tariff strategy ahead of its implementation on April 2. According to the Wall Street Journal, the...
The US dollar index remained firm above 104 on Monday as investors awaited further clarity on President Donald Trump's trade policies ahead of the April 2 deadline for his reciprocal tariffs. Trump suggested on Friday that there could be "flexibility" in the plan, while weekend reports indicated that the tariffs may be narrower in scope, potentially sparing some industries. The dollar has faced pressure for much of the year, as tariffs are expected to weigh on US economic growth. However, it rebounded last week after the Federal Reserve reaffirmed that it is in no rush to cut interest...