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...
Gold prices ended Tuesday's session on a higher note as traders bought the precious metal amid uncertainty over US President Donald Trump's tariff plans, which have kept market participants on edge. XAU/USD was trading at $3,240 per troy ounce, up more than 6.50%. The precious metal rose sharply towards the end of the New York session on Tuesday as US Treasury yields continued to fall for a second straight day. Concerns that US President Trump will start imposing tariffs on pharmaceuticals soured the market mood. Keeping the trade war in the air, China ordered its domestic airlines to halt...
The Australian Dollar (AUD/USD) gave up its earlier strength on Tuesday, falling from session highs near 0.6340 to trade closer to the 0.6280 area during North American hours. The reversal came as the US Dollar Index (DXY) attempted a modest bounce off its three-year low near the 99.00 mark. This shift in tone followed remarks from US officials suggesting reduced recession risks and progress on trade negotiations with Europe, though concerns remain over the unresolved US-China tariff fight.USD sentiment fluctuates on mixed economic signalsKevin Hassett from the US National Economic Council...
Oil prices were little changed on Tuesday as investors digested the latest headlines on U.S. President Donald Trump's on-again, off-again tariffs and tried to figure how much the U.S.-China trade war could reduce global economic growth and oil demand. Brent crude futures fell 21 cents, or 0.3%, to settle at $64.67 per barrel, while U.S. West Texas Intermediate (WTI) crude fell 20 cents, or 0.3%, to settle at $61.33. Vacillating U.S. trade policies have created uncertainty for global oil markets and prompted the Organization of the Petroleum Exporting Countries to lower its demand outlook...
Sterling rallies despite unchanged UK unemployment at 4.4% as strong wage growth complicates BoE's easing path.The US Dollar Index drops over 5% in three weeks as safe-haven demand fades and tariff risks grow.UK inflation data and Powell's speech are in focus; the UK remains exempt from US tariffs for now.The Pound Sterling (GBP) rose and refreshed six-month highs against the US Dollar (USD) on Tuesday as the financial markets' narrative remains linked to the US imposing tariffs. Cable shrugged off soft United Kingdom (UK) jobs data; hence, GBP/USD rallied 0.36% and is trading at...
The US Dollar (USD) gains temporary ground after stabilizing near its recent lows, with the US Dollar Index (DXY) rebounding from its three-year low of 99.00 to 100.00 during North American trading hours on Tuesday.However, the recovery move could be short-lived as financial market participants remain concerned over United States (US) President Donald Trump's erratic tariff announcements, which have led them to doubt the structural attractiveness of the US Dollar. Analysts at Commerzbank said, "With every U-turn in Trump's 'dealmaking', the US president destroys further planning security...