The Hang Seng rose 186 points, or 0.7%, to close at 25,968 on Thursday, reversing early declines as sentiment improved following reports that the U.S. and China will hold another round of high-level trade talks this weekend at the 47th ASEAN Summit. Markets also rebounded from steep losses the previous day, as traders awaited a communique from China's fourth plenum, which may outline the government's economic, political, and social agenda, including five-year development plans. Investors largely shrugged off reports that Washington could impose broad export restrictions on China in...
GBP/USD retraces its recent gains from the previous session, trading around 1.3520 during the Asian hours on Tuesday. The pair depreciates as the US Dollar (USD) gains ground, driven by persistent inflationary pressures in the United States (US), which heightened uncertainty over potential Federal Reserve (Fed) rate cuts. Traders will likely observe the August ISM Manufacturing Purchasing Managers Index (PMI) later in the day. Furthermore, traders will also observe upcoming labor market data this week that could shape the US Federal Reserve's (Fed) policy decision in September. Key reports...
Silver price (XAG/USD) trades near $40.85 per troy ounce, the highest since September 2011, which was marked during the Asian hours on Tuesday. The precious metals like Silver attract buyers amid increased safe-haven demand, driven by US Federal Reserve (Fed) independence concerns, uncertainty surrounding Fed policy outlook, and US President Donald Trump's tariffs. United States (US) July's Personal Consumption Expenditures (PCE) Price Index signaled persistent inflationary pressures and heightened uncertainty over potential Fed rate cuts. However, traders are now pricing in more than 89%...
The Australian dollar weakened to around $0.654 on Tuesday, snapping a five-session winning streak, as investors paused amid a mix of domestic economic signals. Notably, Australia's current account deficit narrowed to over one-year low in Q2 2025, coming in better than market expectations. Moreover, manufacturing activity jumped to a near three-year high in August 2025, marking the eighth consecutive month above the 50-point expansion threshold. Meanwhile, business inventories saw their weakest expansion since the contraction in Q3 2024. In the housing sector, private house approvals...
The dollar index hovered around 97.8 on Tuesday as investors returned from the holiday weekend and awaited crucial labor market reports this week that could shape the Federal Reserve's policy path. Attention is on Friday's August payrolls release, alongside unemployment, job openings, and private hiring figures. The greenback has faced pressure recently as markets boosted bets on Fed rate cuts despite sticky inflation, with traders pricing in nearly a 90% chance of a 25 basis point reduction later this month. San Francisco Fed President Mary Daly said Friday the central bank is prepared to...
The spot gold price strengthened again and set a new record in trading on Tuesday (September 2nd) morning, reaching US$3,505 per ounce—its highest level ever. Market sentiment was driven by strong expectations that the Federal Reserve will cut interest rates by 25 basis points at its upcoming September meeting, with a probability of nearly 90 percent. The weakening US dollar also strengthened gold's position as a safe-haven asset, especially following dovish comments from Fed officials and a US court ruling that partially lifted Trump-era tariffs. Meanwhile, holdings of SPDR Gold Trust—the...