The Hang Seng Index plunged 376 points, or 1.4%, to close at 25,907 on Friday, marking its third consecutive session of decline amid widespread declines across sectors. Market sentiment weakened after China's official PMI showed manufacturing activity contracted at its fastest pace in six months in October, while service sector growth remained weak. Meanwhile, the temporary US-China trade truce failed to boost confidence, with investors viewing it as a short-term respite rather than a meaningful breakthrough. Further pressure came after US Federal Reserve Chairman Powell signaled that a...
The dollar index rose above 108.3 on Monday, extending its gains for a third consecutive session as new tariff threats from US President Donald Trump fueled concerns about inflation, potentially limiting the scope for rate cuts. Late on Sunday, Trump announced a blanket 25% tariff on all steel and aluminum imports, set to take effect later today, along with additional tariffs to be revealed on Tuesday or Wednesday. This announcement coincided with China's retaliatory tariffs on select US exports, set to take effect today. Meanwhile, German Chancellor Olaf Scholz stated that the EU was...
EUR/USD depreciates due to expected widening of interest rate gap between the United States and the Eurozone.President Trump announced plans to impose a 25% tariff on all steel and aluminum imports without naming the affected countries.German Chancellor Olaf Scholz warned that the European Union could respond "within an hour" if the US imposes the tariffs.EUR/USD continues its losing streak for the third consecutive session, trading near 1.0310 during Asian trading hours on Monday. The pair remains under pressure as investors anticipate a widening interest rate gap between the United States...
Gold price gains momentum to around $2,865 in Monday's early Asian session. Trump will announce reciprocal tariffs on many countries next week. China's central bank expanded its gold reserves for a third month in January. Gold price (XAU/USD) extends the rally to around $2,865 during the early Asian session on Monday. The precious metal edges higher as escalating trade tensions prompt investors to seek refuge in the safe-haven asset. US President Donald Trump said on Friday that he plans to announce reciprocal tariffs on many countries by Monday or Tuesday, which will take effect almost...
Gold gains as traders react to President Trump's threat of new reciprocal tariffs, enhancing its safe-haven status.US Nonfarm Payrolls fall short of expectations, yet a declining Unemployment Rate suggests a resilient labor market.PBoC's increased Gold reserves and cautious comments from Fed officials contribute to the metal's price dynamics.Gold resumed its uptrend on Friday amid the escalation of the trade war between the US and China and a mixed US employment report. The XAU/USD trades at $2,862, up 0.24%. US President Donald Trump's plans to announce reciprocal tariffs on many countries...
WTI crude oil surges as US labor market data fuels demand optimism.Nonfarm payrolls miss expectations, but wage growth remains strong.Labor force participation rate edges higher, supporting energy demand outlook.The West Texas Intermediate (WTI) crude oil prices climbed on Friday to around $70.80, buoyed by renewed optimism over energy demand following the latest US labor market report. While Nonfarm Payrolls (NFP) data revealed a weaker-than-expected 143K job additions in January, the overall labor market resilience and steady wage growth helped drive crude prices higher. Despite the soft...