US stocks rose on Friday (October 17th) as investors reacted positively to President Trump's remarks alleviating concerns about further trade escalation with China, while regional bank stocks rebounded after Thursday's sharp declines. The S&P 500 and Nasdaq each rose 0.5%, while the Dow Jones Industrial Average rose 239 points. Trump said his proposed 100% tariffs on Chinese goods would be unsustainable, although he blamed Beijing for recent trade tensions, and confirmed that his meeting with Chinese President Xi Jinping was still possible at the end of the month. Consumer staples,...
Silver prices fell nearly $30 an ounce on Monday, extending losses from last week as the U.S. dollar strengthened on optimism about the U.S. economic outlook. The dollar also gained after U.S. President-elect Donald Trump threatened BRICS nations on Saturday with 100% tariffs if they create or support a new currency that could replace the dollar. A stronger dollar makes dollar-denominated commodities more expensive for buyers holding other currencies, dampening demand. Meanwhile, data showed that Chinese manufacturing activity expanded for a second straight month in November, following a...
Gold (XAU/USD) prices remained strongly offered through the early European session on Monday (2/12) and is currently trading near the lower end of its daily range, around the $2,629 region. This marked the first day of a negative move in the previous five and was sponsored by a combination of factors. Investors now seem convinced that US President-elect Donald Trump's tariff plans could reignite inflation and limit the scope for the Federal Reserve (Fed) to cut interest rates. This, in turn, triggered a fresh leg up in the US Treasury bond yields and drove flows away from the non-yielding...
The dollar rose on Monday amid a weaker euro and yen, as market participants continued to assess political tensions in France and a rebound in Treasury yields. The Bloomberg Dollar Index rose as much as 0.5%, while the euro fell after a far-right French party threatened to overthrow the government amid a budget impasse. Futures on the Euro Stoxx 50 fell 0.9%, indicating a weak open. French bond futures fell. The euro fell as much as 0.6%. The single currency may see further weakness after Governing Board member Martins Kazaks told broadcasters the European Central Bank should continue to...
Oil prices rose on Monday, supported by upbeat factory activity in China, the world's second-largest oil consumer, and as Israel pressed ahead with its offensive against Lebanon despite a ceasefire pact, stoking tensions in the Middle East. Brent crude futures rose 34 cents, or 0.47%, to $72.18 a barrel by 0452 GMT while U.S. West Texas Intermediate crude was at $68.32 a barrel, up 32 cents, or 0.47%. "Oil prices have managed to stabilize into the new week, with continued expansion in Chinese manufacturing activity reflecting some degree of policy success from recent stimulus efforts,"...
Gold price (XAU/USD) edges lower to around $2,645 during the early Asian session on Monday. A recovery in the US Dollar broadly weighs on the precious metal. However, persistent geopolitical tensions could cap the downside for XAU/USD. The yellow metal declined 3% in November, its worst monthly loss since September 2023. A victory of Donald Trump in the US Presidential election in November fuelled expectations that the Federal Reserve (Fed) would adopt a cautious approach to further rate cuts, which boost the Greenback and drag the USD-denominated Gold lower. Nonetheless, the escalating...