The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
Silver (XAG/USD) prices struggled to extend gains above the key resistance of $32.40 during the North American session on Wednesday (05/03). The white metal held firm as the global trade war led by the United States (US) President Donald Trump has escalated due to retaliatory tariffs on China, Canada, and Mexico. The escalating trade war tensions have raised uncertainty over the global economic outlook. Such a scenario increases the appeal of precious metals like Silver. Meanwhile, a sharp sell-off in the US Dollar (USD) is also a favorable scenario for Silver prices. The US Dollar Index...
Gold (XAU/USD) prices are trying to maintain their gains from the past few days on Wednesday (05/03) after earlier suffering losses in the Asian trading session and are trading around $2,920 at the time of writing on Wednesday. With tariffs still in place and more to come for Europe and other countries, Gold will continue to be a good place to go when it comes to safe havens. However, some surprising comments from US Commerce Secretary Howard Lutnick overnight hinted that tariffs could be eased or lifted entirely for Mexico and Canada. This has weighed on Gold prices for now. Daily Market...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, extended its decline for the third straight day this week and was trading near 105.00 at the time of writing on Wednesday (05/03), its lowest level since early November. The down move came as traders further reduced their exposure to the Dollar across the board now that some analysts are calling for an end to US exceptionalism amid concerns that US President Donald Trump's tariffs could hurt economic growth. The move comes ahead of the European Central Bank's (ECB)...
Oil prices fell for a third day on Wednesday, as investors worried about OPEC+'s plan to continue raising output in April, and U.S. President Donald Trump's tariffs on Canada, China and Mexico escalated trade tensions. Brent crude futures fell $1.02, or 1.44%, to settle at $70.02 a barrel by 1149 GMT. U.S. West Texas Intermediate (WTI) crude futures fell $1.33, or 1.95%, to settle at $66.93 a barrel. Crude prices closed near their lowest levels in months the previous day, weighed down by expectations that U.S. tariffs and retaliatory tariffs by affected countries would slow economic growth...
EUR/USD strengthened above 1.0700 during the European session on Wednesday (05/03), the highest level seen this year. The major currency pair strengthened as the Euro (EUR) strengthened across the board after Germany's next chancellor candidate, Frederich Merz, and the Social Democratic Party (SDP) agreed to create a €500 billion (EUR) infrastructure fund and expand borrowing limits on Tuesday to boost defense spending and boost economic growth in the Eurozone. Such reforms could boost inflation in the Eurozone economy. Meanwhile, investors await the European Central Bank's (ECB) monetary...