US stocks closed higher on Friday, with the S&P 500 up 0.8%, and the Nasdaq climbing nearly 1%, while the Dow gaining 206 points. Technology shares, led by Apple which surged 4.2% following its announcement of a $600 billion US investment plan helped lift the tech-heavy Nasdaq to new intraday highs. Investor optimism was also fueled by expectations of Federal Reserve rate cuts, with President Trump nominating Stephen Miran to the Fed Board, signaling possible shifts in monetary policy, despite concerns over new tariffs imposed by the Trump administration on imports from multiple...
Gold price (XAU/USD) maintains its offered tone heading into the European session and currently trades well below the $3,300 mark, or over a one-week low touched earlier this Wednesday. Expectations that steep US tariffs would underpin inflation in the coming months and force the Federal Reserve to keep interest rates steady for an extended period remain supportive of elevated US Treasury bond yields. This, in turn, assists the US Dollar (USD) to stand firm near a two-week low and is seen as a key factor undermining the non-yielding yellow metal. Meanwhile, the global risk sentiment...
Oil prices edged lower on Wednesday after rising to two-week highs in the previous session, weighed down by investors waiting for clarity on new U.S. tariffs and expectations of rising crude inventories in the United States. Brent crude futures slipped 15 cents, or 0.2%, to $70 a barrel by 0601 GMT. U.S. West Texas Intermediate crude fell 16 cents, or 0.2%, to $68.17 a barrel. U.S. President Donald Trump's latest tariff delay provided some hope to major trade partners Japan, South Korea and the European Union that deals to ease duties could still be reached, while bewildering some smaller...
GBP/USD extends its losing streak, trading around 1.3580 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) gains ground amid increased risk aversion. On Tuesday, US President Donald Trump told reporters at a White House cabinet meeting to impose a 50% tariff on Copper imports but he did not say when the tariff would take effect, per Reuters. President Trump expressed his intention to strengthen domestic Copper production and reduce dependence on foreign supplies, as the US currently imports nearly half of its metal, primarily from Chile. The new tariff aligns...
Silver price (XAG/USD) falls to near $36.50 during Asian trading hours on Wednesday. The white metal faces a slight selling pressure even as the White House has signaled that it will release more letters, specifying additional import rates, to those nations that have not closed a trade deal during the 90-day tariff pause. United States (US) Commerce Secretary Howard Lutnick said in an interview with CNBC on Tuesday that more than 15 countries will receive letters in a couple of days. "I expect 15-20 trade letters to go out over the next 2 days," Lutnick said. On Tuesday, US President...
The EUR/USD pair tumbles to near 1.1705 during the Asian trading hours on Wednesday. The Euro (EUR) weakens against the Greenback as renewed tariff threats from US President Donald Trump unsettle markets. Traders await the FOMC Minutes, which will be released later on Wednesday. Trump broadened his global trade war by threatening a 50% tariff on copper imports and signaled that he might impose levies on semiconductors and pharmaceuticals. Trump noted on Tuesday that trade talks have been going well with the European Union (EU) and China, though he added he is only days away from sending a...