The Nikkei 225 Index rose 1.27% to close at 48,278 while the broader Topix Index added 0.62% to 3,203 on Thursday, extending gains from the previous session as investors navigated political uncertainty in Japan, while a strong earnings season kept the momentum in stocks. The ruling Liberal Democratic Party proposed holding a vote for a new prime minister on Oct. 21, though opposition parties have yet to agree on the date, keeping the outlook for LDP's Sanae Takaichi unclear. Sentiment was also lifted by a solid start to the earnings season, bolstered by expectations of US rate cuts and...
Oil edged higher, but prices remain broadly stuck in a narrow band, as traders weigh the outlook for consumption and a possible oversupply next year. Brent crept above $72 a barrel in London after ending little changed on Tuesday, near its lowest level this month. Crude's slight gain coincided with a respite from an election-driven dollar rally that has made commodities less attractive for some buyers. Oil prices remain thoroughly rangebound though, trading in a band of a little over $5 for close to a month as traders weigh the outlook for next year. OPEC shaved...
Gold edged higher following a bruising run that came after Donald Trump's election win spurred a rally in the dollar. A gauge of the greenback has risen to its highest level in almost two years, making gold and other commodities priced in dollars more expensive for most buyers. Hedge funds have been unwinding bullish wagers on the precious metal and exchange-traded fund flows turned less supportive amid a widespread rotation into US equities. Bullion has slipped more than 6% from an all-time high on Oct. 31, but is still up by over a quarter this year. It has been...
Gold prices (XAU/USD) attracted some buyers during the Asian session on Wednesday (13/11) and for now, seems to have snapped three consecutive days of declines to the lowest level since September 20, around the $2,590-$2,589 region touched the previous day. The uptick lacked any obvious fundamental catalyst and could be attributed to some repositioning activity ahead of the US consumer inflation figures. The key data could influence expectations about the Federal Reserve's (Fed) interest rate cut path and provide a fresh directional impetus to the non-yielding yellow metal. Ahead of the key...
Gold prices edged up on Wednesday as investors hunted for bargains after steep declines in the previous session, while spotlight shifted to U.S. inflation print, which could shed more light on the Federal Reserve's monetary policy path. Spot gold rose 0.4% at $2,608.18 per ounce by 0200 GMT, after hitting its lowest since Sept. 20 on Tuesday. U.S. gold futures was up 0.3% at $2,614.10. There is currently some bargain hunting going on as prices fell below the $2,600 mark. Recent sessions saw gold negatively impacted due to a stronger dollar, driven by expectations of inflationary Trump...
The Australian Dollar (AUD) attempted to halt its losing streak against the US Dollar (USD) on Wednesday (13/11) following a radio interview with Australian Prime Minister Anthony Albanese. Albanese said he discussed trade with US President-elect Donald Trump during a phone call last week. Albanese told Trump that the United States has a trade surplus with Australia and stressed that Washington's best interest is to "trade fairly" with its allies. Meanwhile, the defense minister underlined Australia's significant investment in security. The AUD/USD pair remained subdued following the...