The Hang Seng dipped 223 points or 0.9% to close at 24,859 on Friday, reversing gains from the prior four sessions amid broad-based losses. Sentiment soured ahead of the August 12 deadline for China to reach a lasting tariff deal with the Trump administration. Traders also remained cautious ahead of China's July CPI and PPI data due Saturday, with expectations for a slight drop in consumer prices amid weak demand and continued producer deflation due to lingering trade risks. The tech sector led losses, down around 1.5%, pressured by a nearly 8% plunge in chipmaker SMIC after disappointing...
Gold (XAU/USD) is experiencing a pullback on Thursday as traders digest US Retail Sales data and await further comments from Federal Reserve (Fed) officials. The yellow metal trades near $3,335 at the time of writing, down 0.30% on the day. With the timing of when the Federal Reserve will cut interest rates still uncertain, several members of the central bank are scheduled to speak throughout the day. Comments from Governor Adriana Kugler, San Francisco President Mary Daly, Governor Lisa Cook, and Governor Christopher Waller will be monitored closely. So far, comments from Kugler that it...
Silver (XAG/USD) is edging lower on Thursday, trading around $37.57 after logging a modest gain of nearly 0.56% on Wednesday. The metal remains elevated after marking a 14-year high of $39.13 earlier this week, but momentum has cooled as the price consolidates just below that peak. A stronger-than-expected US Retail Sales report for June, which showed a 0.6% monthly rise versus the 0.1% forecast, boosted the US Dollar and Treasury yields, putting mild pressure on Silver. Traders are now watching to see whether the uptrend can resume or if a deeper pullback is on the Source: Fxstreet
Oil prices rose on Thursday (July 17), even as global trade tensions appeared to ease. Analysts cited low inventories and emerging Middle East risks as factors supporting the market. Brent crude futures rose 31 cents, or about 0.5%, to $68.83 per barrel at 12:03 GMT. US West Texas Intermediate crude rose 61 cents, or 0.9%, to $66.99. US President Donald Trump said letters notifying smaller countries about their US tariffs would be sent soon, and also mentioned the prospect of a deal with Beijing on drugs and a possible agreement with the European Union. "Near-term prices are expected to...
Gold prices weakened on Thursday, pressured by a stronger U.S. dollar, as investor concerns eased temporarily after President Donald Trump said he had no plans to fire Federal Reserve Chairman Jerome Powell. Spot gold fell 0.6% to $3,324.81 an ounce, as of 09:58 GMT. U.S. gold futures fell 0.9% to $3,330.40. The dollar index (.DXY), opened in a new tab, rose 0.3% against a basket of major currencies on Thursday, making dollar-denominated bullion more expensive for holders of other currencies. This came after a source told Reuters on Wednesday that Trump was open to the idea of firing...
Oil prices edged higher on Thursday (July 17th), driven by signs of easing trade tensions, stronger-than-expected economic data from the world's major oil consumers, and renewed risks in the Middle East. Brent crude futures rose 17 cents, or about 0.3%, to $68.67 a barrel at 08:56 GMT. U.S. West Texas Intermediate crude futures rose 31 cents, or 0.5%, to $66.69. "Oil sentiment has shifted away from the Middle East, and the reminder of Israel's incursion into Syria and drone attacks on oil infrastructure in Kurdistan is timely and once again adds a bit of tension to the proceedings," said...