European stocks weakened slightly on Wednesday (October 29, 2025), after several consecutive days of record highs. The STOXX 600 index fell by around -0.3% to 576 points, while the STOXX 50 also corrected from its peak. Investors chose to hold positions while awaiting key data and policy decisions from the Federal Reserve (The Fed). The pharmaceutical sector was one of the laggards, with shares of giants like Novartis plunging by around -4.3% after underwhelming financial results. On the other hand, stocks like HSBC and Nokia actually saw a surge—HSBC rose by around 4.4% after raising its...
The dollar fell to a two-week low on Wednesday after a tame reading on U.S. inflation bolstered expectations of a Federal Reserve rate cut next month, with President Donald Trump's attempts to extend his grip over U.S. institutions also undermining the currency. The dollar index, measuring the currency against a basket of peers, fell to 97.62, its lowest since July 28, extending its 0.5% fall on Tuesday. It was last down 0.3% at 97.70. U.S. consumer prices increased marginally in July, data showed on Tuesday, in line with forecasts and as the pass-through from Trump's sweeping tariffs to...
Gold rose on Wednesday as expectations of a U.S. Federal Reserve interest rate cut in September gained traction following mild inflation data, while a weaker dollar bolstered bullion's demand. Spot gold gained 0.3% to $3,354.77 per ounce, as of 0802 GMT. U.S. gold futures for December delivery inched up 0.1% at $3,403.20. "Market participants are starting to debate if the Fed will do a 50 basis point cut at its September meeting following the comments from U.S. Treasury Secretary Bessent yesterday, with a focus on incoming weaker U.S. economic data supporting that," said UBS commodity...
Crude edged lower after the International Energy Agency said oil markets are set to see a growing surplus at the end of this year and into next. Global benchmark Brent fell as much as 0.9% to around $66 a barrel, extending Tuesday's small decline. Oil inventories are set to grow at the fastest pace on record next year and hit a 46-month high in June, the agency said, a day after the US government also bolstered its view for a surplus this year. Against that backdrop, traders are looking ahead to a meeting between US President Donald Trump and his Russian counterpart in Alaska on Friday...
The British pound rose to $1.355, a three-week high, after UK labour data showed smaller-than-expected job losses in July, easing concerns about the economy. Payrolls fell just 8,000, well below forecasts of 20,000, and earlier months were revised lower, suggesting the labour market is holding up despite the Labour government's £26 billion tax increase. Unemployment remained at 4.7%, while private-sector wage growth eased slightly to 4.8%, still above the Bank of England's 2% inflation target. The data highlights the BoE's delicate balancing act between sticky inflation and a softening...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second successive session and trading around 97.80 during the European hours on Wednesday. The Greenback faces challenges amid easing risk aversion following the latest United States (US) inflation data, which strengthened expectations for a US Federal Reserve rate cut in September. The CME FedWatch tool indicates that markets are now pricing in approximately 96% odds of a Fed rate cut at the September meeting, up from 86% a day ago. The US Consumer Price...