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Saturday, 2 August 2025 04:02 WIB

US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P 500 and Nasdaq fell 1.6% and 2.2%, their steepest drops since April, while the Dow lost 542 points. Payrolls rose by just 73,000 in July, far below expectations, with sharp downward revisions to prior months signaling deeper labor market weakness. Treasury yields fell and the odds of a September Fed rate cut rose above 80%. Sentiment worsened after new tariffs of 10% to 41% were imposed on imports from key partners including Canada, India, and...

RECENT NEWS
Gold prices look vulnerable below $2,700 amid stronger USD, positive risk sentiment
Friday, 8 November 2024 15:18 WIB | GOLD EMAS

Gold (XAU/USD) prices fell to the $2,680 area during the first half of the European session on Friday and was pressured by a combination of factors. Expectations that Trump's policies will spur economic growth and inflation, to a greater extent, overshadowed the Federal Reserve's (Fed) dovish outlook, which in turn, helped revive demand for the US Dollar (USD). Moreover, the generally positive risk sentiment undermined the safe-haven precious metal. Meanwhile, a decline in the US Treasury bond yields might hold US investors from placing aggressive bets and help limit any further...

Japanese Yen Strengthens on Verbal Intervention
Friday, 8 November 2024 10:57 WIB | Yen

The Japanese yen stabilized around 152.8 per dollar on Friday after Finance Minister Katsunobu Kato signaled that Japan would take "appropriate action" to address excessive foreign exchange fluctuations. Kato reiterated official warnings against speculative moves in the currency market and emphasized that the government is closely monitoring the impact of Donald Trump's policies on Japan's economy. Kato's comments came after opposition leader Yuichiro Tamaki warned that Trump's policies could intensify inflation in the US, potentially putting further downward pressure on the yen. On...

Dollar Edges Up; Aussie Slips Before China NPC
Friday, 8 November 2024 09:47 WIB | DOLLAR Dolar Indeks Dolar Dolar AS

A gauge of the dollar inched higher after erasing much of its post-election gains in the previous session. Australia's dollar underperformed its Group-of-10 peers amid jitters before the outcome of China's key legislative meeting. The Bloomberg Dollar Spot Index rose 0.1%. It closed 0.8% lower Thursday, after spiking 1.3% following Donald Trump's victory in the US election. Aussie fell on leveraged sales ahead of event risk posed by the National People's Congress meeting in Beijing, according to an Asia-based FX trader. "There are many people who want to buy the dollar on...

Oil Set for Weekly Gain as Market Digests Trump and China Impact
Friday, 8 November 2024 09:17 WIB | WTI Brent

Oil headed for a weekly gain as the market digested the implications of a second Trump presidency, including whether it would spur an expansion of stimulus efforts from No. 1 importer China.  Brent crude traded above $75 a barrel, and was up more than 3% for the week. West Texas Intermediate was near $72. China's top legislative body is set to unveil the largest fiscal package since the pandemic on Friday, and there are also signs the prospect of an extended trade war with the US means there will be more stimulus going into next year. A Donald Trump presidency may...

Traders Weigh Rate Outlook and Trump's Economy Plans, Gold Steady
Friday, 8 November 2024 08:16 WIB | GOLD EMAS

Gold held a gain at the end of a volatile week's trading, after the Federal Reserve reduced interest rates and investors assessed the implications of Donald Trump's White House victory. Bullion was little changed below $2,707 an ounce after rising almost 2% on Thursday as the Fed cut borrowing costs by 25 basis points, in line with expectations. Chair Jerome Powell said he didn't rule "out or in" a cut in December, noting recent indicators suggested the economy was still expanding solidly. Lower rates tend to benefit the metal, as it doesn't pay interest. The gain on...