Asian stock markets opened higher on Thursday morning (October 16th), following a positive close on Wall Street despite volatile trading. Stocks in Japan, Australia, and South Korea rose, while index futures pointed to a weaker opening in Hong Kong. In the US, the S&P 500 index rose 1.2%, then fell, and finally closed up 0.4%. Renewed tensions between the United States and China have again affected market sentiment. US President Donald Trump stated that his country is now "locked in a trade war" with China. However, US Treasury Secretary Scott Bessent suggested a longer pause on import...
The US dollar strengthened on Thursday (October 9th), continuing its gains this week, driven by a weaker euro due to the political crisis in Paris and a weaker yen amid a change in the ruling party leadership in Japan. This week's markets were also overshadowed by the prolonged US government shutdown. The euro weakened following the resignation of French Prime Minister Sebastien Lecornu and his government earlier this week. However, President Emmanuel Macron still surprised markets with plans to appoint a new prime minister this week. The single currency last traded 0.2% lower at $1.1609,...
Gold prices held above the $4,000 level on Thursday (October 9th), as investors assessed the Israel-Hamas ceasefire agreement, while broader geopolitical and economic uncertainty and expectations of a US interest rate cut maintained bullish sentiment for the precious metal. Spot gold was steady at $4,035.70 per ounce, as of 08:32 GMT. US gold futures for December delivery fell 0.4% to $4,055.20. Bullion broke through the $4,000 per ounce level for the first time on Wednesday, hitting a record high of $4,059.05. Silver also followed gold's rally, rising 0.7% to $49.21 per ounce, after...
Gold fell slightly after breaking its all-time record above $4,000/oz. At the start of Thursday's Asian session, prices fell ±0.7% to around $4,015 after rising 1.4% the previous day. Technical indicators pointed to overbought conditions for nearly a month, triggering profit-taking after a four-day rally. Some of its safe-haven appeal eased after US President Donald Trump called a Middle East peace deal "very close," with Israeli and Hamas officials signaling positive progress in talks in Egypt. Despite the correction, gold is still up more than 50% year-to-date thanks to global trade...
Oil fell for the first time in five sessions, as traders focused on the prospect of cooling tensions in the Middle East and higher US inventories. West Texas Intermediate fell below $62 a barrel, with Brent crude closing above $66. US President Donald Trump said both Israel and Hamas had agreed to terms for the release of all hostages still held by the militant group in Gaza in a breakthrough in the push to end the two-year war. Elsewhere, US nationwide crude stockpiles expanded for a second week, although they remained near seasonal lows, according to official...
Oil prices edged up about 1% to a one-week high on Wednesday as traders expected a lack of progress on a Ukraine peace deal to keep sanctions in place against Moscow, while a weekly report showed growing U.S. oil consumption. Brent crude futures rose 80 cents, or 1.2%, to settle at $66.25 a barrel. U.S. West Texas Intermediate (WTI) crude rose 82 cents, or 1.3%, to settle at $62.55. That was the highest close for Brent since September 30 and for WTI since September 29. A top Russian diplomat said the impetus to reach a peace deal with Ukraine was largely exhausted. Analysts have said a...