Asian stocks were mixed on Thursday after Fed Chairman Jerome Powell emphasized that a December interest rate cut was not a certainty. The region's benchmark indexes were virtually unchanged, while US stock futures fluctuated between gains and losses. The 10-year US Treasury yield hovered around 4.07%, adding pressure on riskier assets. Gold briefly edged up after four days of declines. On the issuer side, tech giant earnings results were mixed: Meta fell 7.7% in after-hours trading, Alphabet jumped 6%, and Microsoft weakened. In Asia, Samsung Electronics gained after earnings beat...
Gold (XAU/USD) kicks off the week on the back foot, trading with a negative tone on Monday as diminished safe-haven demand and improved risk appetite weigh on the precious metal. Hopes for progress in diplomatic efforts to ease Russia-Ukraine tensions, alongside firmer equity markets, have curbed demand for bullion, with investors shifting toward riskier assets. At the time of writing, the metal is trading around $3,345 during the American trading session, down nearly 1.50% on the day, after last week's buyers repeatedly failed to clear the $3,400 psychological hurdle. There's a cautious...
Oil prices edged higher on Monday, after falling more than 4% last week, as investors looked ahead to talks between the U.S. and Russia later this week on the war in Ukraine. Brent crude futures were up 36 cents, or 0.54%, to $66.95 a barrel at 1202 GMT, while U.S. West Texas Intermediate crude futures were up 34 cents, or 0.53%, to $64.22. U.S. President Donald Trump said on Friday that he would meet Russian President Vladimir Putin on August 15 in Alaska to negotiate an end to the war in Ukraine. The talks follow increased U.S. pressure on Russia, raising the prospect that penalties on...
Gold prices fell more than 1% on Monday as investors waited for news from the White House on potential tariffs on bullion and U.S. inflation data that will provide a steer on the Federal Reserve's interest rate path. Spot gold was down 1.4% at $3,350.94 an ounce by 1135 GMT after touching $3,408.06 on Friday, its highest since July 23. U.S. gold futures for December delivery fell 2.5% to $3,404.90, having hit a record high of $3,534.10 on Friday after reports that Washington had imposed tariffs on imports of 1 kg (2.2 lb) bullion bars. The White House said on Friday that it would issue an...
The US dollar rose against its major trading partners early Monday as markets look ahead to inflation and retail sales data for July this week. There are no US data scheduled for release Monday, but surprise appearances by Federal Reserve officials on television networks are possible. Consumer price index data for July will be the main release Tuesday, along with the National Federation of Independent Business' small business sentiment reading for July, weekly Redbook same-store sales and the Treasury's budget report for July. Weekly mortgage application and crude oil stock inventories...
Oil prices were steady on Monday, after falling more than 4% last week, as investors looked ahead to talks between the U.S. and Russia later this week on the war in Ukraine. Brent crude futures were up 5 cents to $66.64 a barrel at 1003 GMT, while U.S. West Texas Intermediate crude futures were down 1 cent to $63.87. U.S. President Donald Trump said on Friday that he would meet Russian President Vladimir Putin on August 15 in Alaska to negotiate an end to the war in Ukraine. The talks follow increased U.S. pressure on Russia, raising the prospect that penalties on Moscow could be...