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...
The Australian Dollar (AUD) extends its losing streak against the US Dollar (USD) for the fifth consecutive day on Friday. The AUD/USD pair depreciates due to tariff threats from US President Donald Trump against China. Investors await more clarity from Trump's tariff policies. ANZ, CBA, Westpac, and now National Australia Bank (NAB) all anticipate a 25 basis point (bps) rate cut from the Reserve Bank of Australia (RBA) in February. Previously, the NAB had forecasted a rate cut in May but has now moved its projection forward to the February RBA meeting. Easing inflationary pressures...
Gold edges higher in the early Asian trade. Prices rose recently on a weaker dollar and concerns about President Trump's potential tariffs, say ANZ Research analysts in a note. Traders are monitoring the potential economic implications of widespread tariffs under the Trump administration, which could boost demand for safe-haven assets, says Harbourfront Wealth - Sonora Wealth Group's Miro Svoboda in a note. Spot gold is 0.2% higher at $2,798.47/oz. Source: Dow Jones Newswires
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.85 during the early Asian session on Friday. The WTI price edges higher as traders assess the impact of threatened US tariffs on Canadian and Mexican crude imports that could take effect on Saturday. US President Donald Trump has threatened to impose a 25% tariff as early as Saturday on imports from Canada and Mexico, but he has not yet decided whether to include oil imports in the measure. The White House said late Wednesday that both countries can avoid this if they act swiftly to close their borders to...
Oil prices edged up on Thursday, held in check by threatened U.S. tariffs on Canadian and Mexican crude imports that could take effect this weekend. Brent crude futures settled 29 cents, or 0.4%, higher at $76.87 a barrel. U.S. crude futures finished at $72.73 a barrel, up 11 cents, or 0.2% higher than Wednesday, when they settled at their lowest level this year so far. "We're getting close to the deadline and people are getting nervous," said Phil Flynn, senior analyst with Price Futures Group. U.S. President Donald Trump has threatened to impose a 25% tariff as early as Saturday on...
USD/CHF steadies after two consecutive days of gains, trading around 0.9070 during the Asian session on Thursday. This decline is mainly attributed to a weaker US Dollar (USD). The US Dollar Index (DXY), which tracks the Greenback against six major currencies, hovers slightly below the 108.00 mark at the time of writing. Traders are awaiting the release of the US fourth-quarter Gross Domestic Product (GDP) growth data, scheduled for Thursday. The market consensus expects a slowdown in annualized GDP growth, with a forecast of 2.6%, down from the previous 3.1%. Inflationary concerns persist,...