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...
Politics dominated currency markets on Monday as the Japanese yen weakened by the most against the dollar in five months as Sanae Takaichi looked set to become Japan's next prime minister, while the euro slid on news that France's new prime minister had quit. Takaichi is a former economic security and internal affairs minister with an expansionary fiscal agenda for the world's fourth-largest economy, and won the ruling Liberal Democratic Party's leadership election at the weekend. Her victory traders caused to reduce bets that the Bank of Japan will increase interest rates this month and...
Gold prices hit an all-time high on Monday (October 6), soaring above $3,900 an ounce, as investors flocked to safe-haven assets amid the US government shutdown, broader economic shutdown, and the prospect of further Federal Reserve interest rate cuts. Spot gold prices rose 1.2% to $3,932.40 an ounce at 07:30 GMT, after reaching $3,944 earlier in the session. US gold futures for December delivery rose 1.2% to $3,956.50. Washington will begin mass layoffs of federal employees if US President Donald Trump decides negotiations with Democratic lawmakers to end the partial government shutdown...
The Australian dollar (AUD) strengthened against the US dollar (USD) this morning after the latest inflation data from the TD Securities–Melbourne Institute (TD-MI) showed a higher-than-expected surge in consumer prices. The monthly inflation index rose 0.4% in September, reversing from a 0.3% decline in the previous month. Annually, inflation now stands at 3%, slightly above the upper end of the Reserve Bank of Australia's (RBA) target range of 2–3%. This rise in inflation has fueled speculation that the RBA may reconsider its cautious stance on interest rates. Although the RBA held its...
The USD/JPY pair climbs to near 149.65 during the early Asian session on Monday. The Japanese Yen (JPY) faces some selling pressure against the Greenback after a ruling-party vote for Sanae Takaichi to become Japan's next Prime Minister. Reuters reported on Sunday that Japan's ruling party elected Sanae Takaichi as its new leader on Saturday, positioning the 64-year-old to become Japan's first female Prime Minister. A vote in parliament to replace outgoing Prime Minister Shigeru Ishiba is scheduled for October 15. Takaichi is favoured as the ruling coalition has the largest number of...
Gold prices hit a new record early this week, hitting $3,920 per ounce on Monday, October 6, 2025, before a slight correction. This surge fueled investor concerns over the ongoing US government shutdown. This uncertainty prompted a massive outflow of funds into safe-haven assets like gold. The shutdown also caused the postponement of US employment data, which was scheduled for release last Friday, further clouding the picture of the US economy. With crucial data withheld, investors grew wary, and precious metals became a prime choice for hedging. So far this year, gold has risen nearly 50%...