European stocks closed slightly lower on Tuesday after reaching record peaks on the previous session on mixed earnings results, while markets continued to assess the outlook on global trade and European rates. The STOXX 50 inched down by 5,701 and the STOXX 600 lost 03% to 576. Pharmaceutical companies led the losses in the session with a 4.3% slump for Novartis after the Swiss giant posted softer earnings than expected. Roche and Novo Nordisk both fell 2.5% In the meantime, BNP Paribas fell 3.5%, also on an earnings miss. On the other hand, HSBC jumped 4.4% after raising its 2025...
Gold (XAU/USD) extended its uptrend for the third straight day on Wednesday (22/1) and climbed beyond the $2,750 level, hitting its highest level since early November during the Asian session. US President Donald Trump's tariff threats turned out to be the key factor driving flows towards the safe haven metal. Adding to this, bets that the Federal Reserve (Fed) will cut interest rates twice this year lent support to the non-yielding yellow metal. Meanwhile, the intraday positive move seemed largely unaffected by the prevailing risk sentiment. Even a modest uptick in the US Treasury bond...
Silver (XAG/USD) price extended its rally for the third straight session, trading around $30.80 per troy ounce during the Asian trading hours on Wednesday (1/22). The daily chart analysis shows a bullish bias prevailing for the precious metal, as its price continues to rise within an ascending channel pattern. The short-term momentum is strong, with the XAG/USD pair trading above the nine-day and 14-day Exponential Moving Averages (EMA). Moreover, the 14-day Relative Strength Index (RSI) is positioned above the 50-level, reinforcing the active bullish sentiment. On the upside, Silver price...
Gold rose near $2,750 an ounce on Wednesday (22/1), extending gains of more than 1% from the previous session to hit its highest since early November. The precious metal was supported by a relatively weaker U.S. dollar and increased demand for safe-haven assets, as trade war concerns persisted following President Trump's announcement of potential tariffs. Trump vowed to impose tariffs on the European Union and reiterated his consideration of 10% tariffs on China, following earlier remarks about the prospect of imposing hefty levies on Canada and Mexico. Meanwhile, traders continued to...
The Australian dollar (AUD) remained weak against the US dollar (USD) on Wednesday (1/22). The AUD/USD pair faced headwinds as US President Donald Trump announced that his administration is considering imposing a 10% tariff on Chinese imports starting February 1. The move is reportedly related to concerns over fentanyl shipments from China to Mexico and Canada, according to Reuters. Trump said earlier, "If we make a TikTok deal and China doesn't agree to it, we could probably put tariffs on China." The comments followed the signing of an executive order that delayed the TikTok ban for 75...
The dollar index held around 108.1 on Wednesday, maintaining recent losses amid lingering uncertainty over U.S. President Donald Trump's tariff plans. Trump indicated on Tuesday that he was considering a 10% tariff on Chinese imports, which would kick in on Feb. 1, just one day after threatening Mexico and Canada with tariffs of around 25%. However, none of those threats have been translated into action, fueling hopes that the administration could take a more cautious approach to tariffs, which could help reduce inflation risks. The dollar has been on an upward trajectory since October,...