Both the STOXX 50 and STOXX 600 closed 0.2% lower on Thursday as investors weighed central bank actions, corporate earnings, and mixed economic data. The ECB kept rates unchanged for a third consecutive meeting, noting that the inflation outlook remains broadly stable, while the Fed cut rates again but cautioned that further easing in December is not guaranteed. On the data front, Eurozone GDP grew 0.2% in Q3, exceeding expectations, though performance across major economies was uneven, with France and Spain posting strong growth, while Germany and Italy stagnated. Among corporates,...
The US Dollar Index (DXY), which tracks the US dollar against a basket of six major currencies, was looking downbeat on Tuesday after first hitting 109.00 before falling back to a lower 108.37 level in European trade. The DXY was trading around 108.50 at the time of writing. Markets reacted to a mix of headlines with relief from Mexico and Canada, which saw the imposition of US tariffs delayed. Meanwhile, China has retaliated against US President Trump's tariffs by issuing its own levies on US imports. The economic data calendar is taking shape ahead of Friday's Nonfarm Payrolls data. The...
Oil prices fell below $72 a barrel after China announced retaliatory measures against the U.S., wiping out gains made this year. Here's a look at news that could drive North American resource stocks trading today. Oil prices erased all of their gains so far this year as the U.S.-China trade war escalated, hurting global growth and energy demand. The first salvo in the latest U.S.-China trade war made it clear that Xi Jinping is taking a more cautious approach than during Donald Trump's first term. China has imposed a 15% tariff on liquefied natural gas (LNG) imports from the U.S.,...
Gold (XAU/USD) prices are looking for direction after hitting a new record high on Monday and after China retaliated early Tuesday against US tariffs issued over the weekend. Beijing imposed 15% tariffs on US energy imports worth less than $5 billion, such as Coal and Liquefied Natural Gas (LNG), and 10% charges on US Oil and farm equipment. Beijing will also investigate Google for alleged antitrust violations. Markets are unclear about what to make of these retaliatory tariffs and have been showing mixed price action on Tuesday. On the economic data front, the calendar is light ahead of...
EUR/USD bounced back from an intraday low of 1.0270 and rebounded near 1.0350 during the European session on Tuesday (February 4). The major currency pair found buying demand as US President Donald Trump's decision to delay tariffs on Canada and Mexico has reduced the safe-haven appeal of the US Dollar (USD). The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, gave up its intraday gains and is trading at 108.44 at the time of writing, right on track to hit Monday's low of 108.40. US President Trump suspended tariffs on his North American partners...
The British pound (GBP) bounced back from an intraday low of 1.2380 against the US dollar (USD) in the European session on Tuesday (February 4). The GBP/USD pair bounced back as the US dollar struggled to gain a firm footing, following US President Donald Trump's decision to suspend the imposition of 25% tariffs on Canada and Mexico for 30 days. President Trump agreed to the 30-day suspension in exchange for concessions on border enforcement and crime with the two neighboring countries, Reuters reported. The announcement triggered a sharp sell-off in the US dollar (USD). The US Dollar Index...