European stocks weakened slightly on Wednesday (October 29, 2025), after several consecutive days of record highs. The STOXX 600 index fell by around -0.3% to 576 points, while the STOXX 50 also corrected from its peak. Investors chose to hold positions while awaiting key data and policy decisions from the Federal Reserve (The Fed). The pharmaceutical sector was one of the laggards, with shares of giants like Novartis plunging by around -4.3% after underwhelming financial results. On the other hand, stocks like HSBC and Nokia actually saw a surge—HSBC rose by around 4.4% after raising its...
Oil prices settled slightly higher on Friday but posted a weekly decline, ending four straight weeks of gains, after U.S. President Donald Trump announced sweeping plans to boost domestic production while demanding that OPEC move to lower crude prices. Brent crude futures settled up 21 cents, or 0.27%, to $78.50 a barrel. U.S. West Texas Intermediate crude (WTI) settled up 4 cents, or 0.05%, to $74.66. Brent has lost 2.8% this week while WTI was down 4.1%. Trump on Friday reiterated his call for the Organization of the Petroleum Exporting Countries to cut oil prices to hurt oil-rich...
AUD/USD attracted buyers on Friday after President Trump suggested a trade agreement with China remains within reach, reinforcing a risk-on mood. The pair advances to 0.6315, heading for its first weekly gain in three weeks. Meanwhile, renewed speculation regarding additional Federal Reserve (Fed) rate cuts in 2025 continues to undermine the US Dollar, providing an added lift to the Aussie.The Greenback falls to a one-month trough as markets price in the prospect of further Fed easing by year-end. In addition, President Trump's statements about immediate interest rate cuts contribute to the...
The dollar fell on Friday and was on track for its worst week in more than a year on expectations that tariffs enacted by U.S. President Donald Trump will be lower than previously feared and unlikely to spur an international trade war. The prospect of high tariffs on goods from countries including China, Canada, Mexico and the euro zone have raised concerns about a renewed bout of inflation, which has helped to send Treasury yields and the U.S. dollar higher in recent months. But that move partially reversed this week as traders bet that tariffs may not be as large or as widespread as...
The USD/CHF pair remains on the defensive around 0.9045 during the early European session on Friday, pressured by the weaker US Dollar (USD) broadly. Traders will closely monitor the flash US S&P Purchasing Managers Index (PMI) for January, which is due later on Friday. During a virtual address to the World Economic Forum in Davos, Switzerland, US President Donald Trump on Thursday called for a drop in interest rates after asking for a reduction of oil prices set by a group of nations known as OPEC, which includes Saudi Arabia. "With oil prices going down, I'll demand that interest rates...
Crude oil prices were little changed on Friday (1/24) but headed for a weekly decline after U.S. President Donald Trump unveiled a sweeping plan to increase U.S. production and demanded that OPEC lower crude prices. Brent crude futures were up 6 cents at $78.35 a barrel by 0745 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 4 cents at $74.66. For the week, Brent is down 3.07% so far, and WTI is down 4.17%. "Crude oil prices have eased so far this week, as investors trimmed their war premiums after the Gaza ceasefire while bracing for a shift in Trump's energy policy,"...