The Hang Seng Index opened slightly lower by 0.07% to 26,263 on Friday (October 31st), moving flat after a 0.2% decline in the previous session to 26,283. This cautious movement occurred amid mixed sentiment: some technology stocks weakened, while the market digested news of a US-China trade truce that had not yet fully boosted risk appetite. Data-wise, China's manufacturing PMI contracted again in October, signaling continued pressure on the factory sector and curbing the Hong Kong stock market rally. Meanwhile, Asian market analysts noted that regional stocks are likely to strengthen this...
Oil steadied near the lowest this year as President Donald Trump's geopolitical positions and threats of tariffs on energy weighed on the outlook. West Texas Intermediate traded above $71 a barrel after falling 2.3% on Wednesday to cancel out all year-to-date gains, while Brent crude closed below $75. China is set to impose retaliatory tariffs on the US from Monday, igniting a trade war that could hurt global growth, while the US leader's proposal to take over Gaza was widely condemned. Investors have pulled out of crude and fuel markets since Trump's inauguration,...
USD/CHF loses ground as the US Dollar weakens for the third consecutive session on Wednesday.Safe-haven demand for the Swiss Franc rises due to escalating US-China trade tensions.Traders await Thursday's Swiss Unemployment Rate to gain further insight into the labor market.USD/CHF continues its decline for the second straight day, trading near 0.9030 during European hours on Wednesday. This downturn is primarily driven by a weaker US Dollar (USD), which is undergoing a technical correction. The US Dollar Index (DXY), which tracks the USD against six major currencies, remains under pressure...
DXY remains under pressure, testing 107.35 support despite upbeat ADP and S&P Global PMI data.ISM Services PMI disappoints, signaling weaker-than-expected service sector growth and moderating price pressures.US 10-year yield rebounds, hovering around 4.40% after touching a yearly low.The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of currencies, struggled to recover losses on Wednesday and declined against most major peers. Despite stronger than expected ADP Employment and S&P Global PMI data, the ISM Services PMI fell short of forecasts, casting doubt...
Aussie nears 0.6300 amid cautious optimism on Wednesday.Investors eye possible February rate cut from RBA.Mid-tier US data came in mixed and weighed on the USD.The Australian Dollar (AUD/USD) edges toward 0.6300, buoyed by mixed United States data that softened the Greenback and lifted broader risk assets. Nonetheless, anticipation of a dovish Reserve Bank of Australia (RBA) move next month tempers upside potential. Ongoing US-China trade tensions further cloud the outlook, restraining a more decisive rally in the Aussie.President Donald Trump's additional tariff on Chinese imports remains...
Silver price gives up a majority of intraday gains after the release of the upbeat US private employment data for January.Strong labor demand would force the Fed to maintain the status quo for longer.Investors expect the trade war would be limited between the US and China.Silver price (XAG/USD) surrenders almost its entire intraday gains and falls back to near $32.00 in Wednesday's North American session. The white metal faces selling pressure as the US Dollar (USD) attempts to gain ground on the back of upbeat United States (US) ADP Employment Change data for January. The US Dollar Index...