Stocks in the US were mostly higher on Wednesday, with the S&P 500 up 0.1%, the Nasdaq adding 0.2% and the Dow Jones swinging around the flatline. Traders remain focused on corporate earnings and trade developments, particularly after President Trump announced increased tariffs targeting countries that purchase energy from Russia. He also signaled that new levies on semiconductor and pharmaceutical imports will be unveiled "within the next week or so". Apple was up 2.8% as President Donald Trump is set to announce the firm will commit to another $100 billion investment on domestic...
EUR/USD pares its daily losses, trading around 1.0490 during the Asian hours on Tuesday. However, the pair may continue to depreciate due to dampened market sentiment following President-elect Donald Trump's announcement of planning to impose a 25% tariff on imports from Mexico and Canada, along with a 10% hike in tariffs on all Chinese goods entering the United States (US). The US Dollar (USD) remains subdued following comments from Federal Reserve (Fed) officials on Tuesday. However, the USD's downside risks are limited, supported by strong preliminary S&P Global US Purchasing...
Gold held steady around $2,620 an ounce on Tuesday (11/26) after dropping 3.4% in the previous session as reports that Israel and Hezbollah were close to a ceasefire deal dampened demand for the safe-haven asset. The precious metal was also hit by a rise in the U.S. dollar after President-elect Donald Trump announced plans to impose 25% tariffs on all imports from Mexico and Canada starting his first day in office, along with an additional 10% tariff on goods from China. More influential in gold prices was the appointment of Scott Bessent as Treasury Secretary in the incoming...
Oil prices fell in early Asian trading on Tuesday, extending losses from the previous session as the prospect of an Israel-Lebanon ceasefire prompted traders to price in a lower risk premium for crude. A surge in the dollar, after U.S. President-elect Donald Trump threatened to impose tariffs on China, Canada and Mexico, also weighed on oil prices. Brent crude for January delivery fell 0.3% to $72.80 a barrel, while West Texas Intermediate crude fell 0.3% to $68.33 a barrel by 8:14 p.m. ET (01:14 GMT). Oil pressured by reports of an Israel-Hezbollah ceasefire looming Oil prices fell on...
The Japanese yen remained firm around 154 per dollar on Tuesday, up about half a percent so far this week, as US President-elect Donald Trump threatened additional tariffs on China, Mexico, and Canada, dampening global risk sentiment. The yen also gained support from Trump's nomination of Scott Bessent as US Treasury Secretary, which provided a sense of stability in the markets and led traders to scale back their "Trump trades." Domestically, investors are focused on upcoming inflation data from Tokyo, which is seen as a leading indicator of nationwide price trends. On the monetary policy...
The Australian Dollar (AUD) continues to weaken against the US Dollar (USD) on Tuesday, driven by dampened market sentiment following President-elect Donald Trump's announcement of a 10% increase in tariffs on all Chinese goods entering the United States (US), along with a 25% tariff on imports from Mexico and Canada. The downside for the AUD/USD pair may be limited, as the Australian Dollar could find support from the Reserve Bank of Australia's (RBA) hawkish outlook on future interest rate decisions. Traders are now turning their attention to Australia's Monthly Consumer Price Index...