Hong Kong stocks edged lower on Thursday morning, holding at around 24,906 and ending a three-session winning streak, driven primarily by technology and consumer stocks. Sentiment weakened after US President Trump announced a 100% tariff on imported semiconductors, sparking concerns about a protracted trade war. Investors also grew cautious ahead of China's July trade data due later today, as Trump's unpredictable tariff policies have increased pressure on the Chinese economy. The losses were offset by a modest rise in US futures, amid reports that trading partners were rushing to finalize...
Silver price (XAG/USD) holds ground after registering over a 0.50% loss in the previous session, trading around $36.60 per troy ounce during the Asian hours on Wednesday. The price of the grey metal maintains a position near a 13-year high of $36.89, which was reached on Monday. The US Consumer Price Index (CPI) data will be closely watched later in the North American session, with expectations of a 2.5% year-over-year (YoY) rise in May. However, precious metals, including Silver, may face challenges due to dampened safe-haven demand amid easing trade tensions between the United States (US)...
Oil prices edged lower from a seven-week high in Asian trading on Wednesday amid demand outlook worries, while focus remained on the outcome of crucial U.S.-China trade talks in London. As of 21:55 ET (01:55 GMT), Brent Oil Futures expiring in July fell 0.3% to $66.65 per barrel, after reaching its highest level since late April. West Texas Intermediate (WTI) crude futures also fell 0.2% to $64.86 per barrel, after jumping to its highest since early April. US-China trade talks outcome awaited U.S. and Chinese officials concluded two days of intense trade negotiations in London on...
The Australian dollar slipped to around $0.650 on Wednesday, ending two consecutive sessions of gains, pressured by growing expectations of further rate cuts by the Reserve Bank of Australia. Markets are now pricing in a 97% chance of a 25bps cut in July, with futures implying a total of 75bps of easing to 3.1% by the end of the year. This sentiment follows a string of soft economic data, including just 0.2% GDP growth in Q1, weak consumer spending, and falling business investment—raising concerns the RBA may have waited too long to act. Adding pressure, the US dollar firmed ahead of key US...
The US dollar index held steady around 99 on Wednesday, trading in a narrow range this week as investors remained cautious ahead of the latest Consumer Price Index report, which could offer insight into the economic impact of recent tariffs. Markets are also closely watching developments in US–China trade talks. US Commerce Secretary Howard Lutnick said both countries have reached a framework to implement the Geneva consensus and follow through on commitments made during a recent presidential call. He also expressed optimism that China will lift its restrictions on rare earth exports,...
Gold edges higher in the early Asian session as traders nervously eye U.S.-China trade talks. "Hopes for a resolution between the world's two largest economies could potentially ease global trade disruptions," Pepperstone's Quasar Elizundia says in an email. "Further progress or a potential deal could be bearish for gold, which had previously benefited from geopolitical tensions," the research strategist adds. The negotiations have been "productive," U.S. Treasury Secretary Bessent said as he headed back to the U.S. for planned testimony to Congress on Wednesday. Spot gold is 0.1% higher...