Stocks were lower Thursday as investors digested a batch of Big Tech earnings, while a meeting between President Donald Trump and Chinese President Xi Jinping concluded. The Dow Jones Industrial Average shed 131 points, or 0.3%. The S&P 500 dipped 0.6%. The Nasdaq Composite dropped 0.8%. Megacap tech giants Alphabet, Meta and Microsoft each reported quarterly results after market close Wednesday. While Alphabet shares popped about 4% on the back of strong results, shares of Meta and Microsoft tumbled about 12% and nearly 2%, respectively. Investors grew worried about the increased...
The Japanese Yen (JPY) drifts lower against its American counterpart for the second straight day on Monday and moves away from over a one-month high touched last week. Concerns about the economic fallout from US President Donald Trump's trade tariffs to a large extent, overshadow the hawkish Bank of Japan (BoJ) Summary of Opinions and undermine the JPY. Apart from this, a broad-based US Dollar (USD) rally pushes the USD/JPY pair to the 156.00 neighborhood, or a four-day top during the Asian session. Meanwhile, a rise in Tokyo's core inflation by the fastest annual pace in nearly a year...
The EUR/USD pair attracts heavy follow-through selling on Monday and dives to the 1.0200 neighborhood, or a three-week low during the early Asian session. Spot prices have now moved back closer to over a two-year low touched in January and seem vulnerable to prolonging a multi-month-old downtrend. The US Dollar (USD) surges across the board in reaction to US President Donald Trump's decision over the weekend to impose 25% duties against Canada and Mexico, and an additional 10% duty on China. This marks the start of a new global trade war and tempers investors' appetite for riskier assets....
Oil prices jumped at the market open on Monday after U.S. President Donald Trump imposes tariffs on Canada, Mexico and China, raising fears of a trade war and disruption in crude supply from two of the United States' biggest suppliers. U.S. West Texas Intermediate crude was at $74.27 a barrel, up $1.74, or 2.4%, by 2319 GMT, after hitting more than a week's high at $75.18 a barrel earlier in the session. Brent crude futures rose 73 cents, or 1%, to $76.40 a barrel. Trump on Saturday ordered sweeping tariffs on goods from Mexico, Canada and China, kicking off a trade war that could dent...
Gold price (XAU/USD) edges lower to around $2,795 during the early Asian session on Monday. The yellow metal faces some pressure from the stronger Greenback after US President Donald Trump set tariffs over the weekend. On Saturday, Canada was notified that the United States will place 25% tariffs on Canada and Mexico while China will be hit with 10% tariffs. Canadian energy will be tariffed at 10%, according to CTV. The tariffs will take effect on Tuesday. Canada, Mexico and China have vowed to respond to sweeping new tariffs on their exports to the US announced by Trump. This, in...
The US Dollar Index (DXY), which tracks the US Dollar against six major currencies, is currently trading at 108.25 at the time of writing after receiving a major boost on Friday (1/31). The first boost came from US President Donald Trump, who announced the first wave of tariffs on Mexico and Canada. The Trump administration will impose 25% tariffs on about $900 billion worth of goods from Canada and Mexico, Bloomberg reported. The US President also threatened to impose 100% tariffs on BRICS countries if they try to replace the US Dollar with a new currency in international trade. The second...