Three major US indexes closed at new record highs after a lower-than-expected inflation report raised the possibility of a Federal Reserve interest rate cut later this year and prompted investors to shift to riskier assets. The S&P 500 rose 0.8%, the Nasdaq rose 1%, and the Dow Jones Industrial Average rose 470 points. Technology stocks led the rally, with AMD and IBM surging 7.5% and 8.77%, respectively, after IBM said it had successfully implemented a key quantum error correction algorithm on AMD chips, boosting sentiment across the sector. Intel rose 1.6% after returning to...
The EUR/USD pair pared some gains, weakening from levels above 1.1700 to 1.1685 in early European trading on Monday (August 18th). Currency volatility remained low, with a mild risk-off sentiment ahead of the meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy, who will be accompanied by several European leaders, and whose positions on the terms of a peace deal in Ukraine appear to remain significantly different. Media reports suggest that Trump will try to reach a quick agreement by pushing Zelenskyy to accept most of the terms Putin proposed in Alaska....
The US dollar strengthened against the Swiss franc on Monday (August 18th), retracing Friday's decline. The greenback strengthened against most major currencies on Monday, with all eyes on today's Trump-Zelensky meeting, while Swiss industrial production data added to concerns about economic momentum. Investors remained cautious about risk as media reports suggested that Trump would pressure his Ukrainian counterpart to accept Putin's terms for a peace deal. These demands, which largely involve ceding territory to Russia, have been flatly rejected by Zelensky on previous occasions and are...
Silver prices (XAG/USD) strengthened slightly near $38.00 during the European trading session on Monday (August 18th). The white metal attracted a few bids due to slightly cautious market sentiment, with investors awaiting the meeting between United States (US) President Donald Trump and Ukrainian President Volodymyr Zelenskyy at the White House on Monday. US Secretary of State Marco Rubio has confirmed that several European and NATO members will join Trump and Zelenskyy at the White House to discuss concessions proposed by Russian leader Vladimir Putin to end the war in Ukraine. Signs of...
The dollar steadied on Monday ahead of a key meeting between U.S. President Donald Trump and his Ukrainian counterpart Volodymyr Zelenskiy, while investors also looked ahead to the Federal Reserve's Jackson Hole symposium for more policy clues. Currency moves were largely subdued in the Asia session, though the dollar halted its fall from last week as traders further pared bets on a jumbo Fed cut next month. The euro was little changed at $1.1704, while sterling edged up 0.1% to $1.3563. Against a basket of currencies, the dollar stabilised at 97.85, after losing 0.4% last week. Markets...
Oil prices were largely unchanged on Monday after a drop in early trade, as the United States exerted no further pressure on Russia to end the Ukraine war through measures to disrupt its oil exports following a meeting of the leaders of both nations. Brent crude futures dropped 6 cents, or 0.09%, to $65.79 a barrel by 0342 GMT while U.S. West Texas Intermediate crude was at $62.82 a barrel, up 2 cents, or 0.03%. U.S. President Donald Trump met Russian President Vladimir Putin in Alaska on Friday and emerged more aligned with Moscow on seeking a peace deal instead of a ceasefire...