European stocks slipped mostly lower Tuesday, with investors locking in some profits on the back of an uncertain economic outlook and with more corporate earnings to digest. The DAX index in Germany closed 0.8% lower, the CAC 40 in France slipped 0.5% and the FTSE 100 in the U.K. rose 0.1%. Investors bank gains Global stock indices, from New York to Tokyo, have rallied to fresh record highs this year, and European markets have also benefited greatly, with the three main indices also posting new peaks. The DAX has gained over 20% so far this year, the FTSE 100 over 18%, while political...
Gold rose, reversing some of the previous session's losses as traders reduced their bets on a September interest rate cut from the US Federal Reserve. Bullion rose 0.7% to trade near $3,299 an ounce, following a decline in the dollar after Fed Chairman Jerome Powell announced that interest rates would be held steady. "There's still a lot of uncertainty to be resolved," Powell said in a post-meeting press conference. "It doesn't feel like we're that close to the end of that process." Traders reduced the probability of a September rate cut to less than 50% after Powell's remarks. Higher...
Oil prices held gains this week as traders grappled with President Donald Trump's threat to impose punitive tariffs on Russian energy buyers. West Texas Intermediate crude oil prices were little changed on Thursday, but closed at a six-week high the day before. The US president said he would impose tariffs on Indian exports and penalties on its energy purchases from Russia starting August 1, the latest in a series of comments in which he expressed anger over the lack of a ceasefire in Ukraine. While the market impact of a disruption in Indian purchases could be significant, as Moscow would...
Gold prices rose more than 1% on Thursday (July 31st), pulling away from a one-month low hit in the previous session, as a weaker dollar and the announcement of new US tariffs boosted demand for the safe-haven asset. Spot gold rose 1.1% to $3,312.03 an ounce, as of 06:12 GMT. The bullion had hit its lowest level since June 30th at $3,267.79 on Wednesday. US gold futures rose 0.4% to $3,309. The dollar weakened from a two-month low, making gold cheaper for holders of other currencies. "We had some significant declines in gold prices yesterday around the release of the FOMC statement and the...
Oil prices were little changed on Thursday (July 31st) as investors weighed supply risks stemming from US President Donald Trump's push for a swift resolution to the war in Ukraine through additional tariffs, while a surprise increase in US crude stockpiles weighed on prices. Brent crude futures for September, which expire on Thursday, rose 4 cents, or 0.05%, to $73.28 a barrel at 08:12 GMT. US West Texas Intermediate crude for September also rose 4 cents, or 0.06%, to $70.04. Both benchmarks rose 1% on Wednesday. "We're looking for more clarity on the nature of any new tariffs or...
The EUR/USD pair posted modest gains on Thursday (July 31st), following a sharp sell-off over the past three days. The pair resumed its decline on Wednesday following strong US Gross Domestic Product (GDP) figures and a hawkish message from the Federal Reserve (Fed). The euro (EUR) was trading at 1.1435 at the European market open, up from a seven-week low of 1.1400 reached after the Fed's monetary policy decision on Wednesday, but still on track for a 3% depreciation in July. The US emerged as the best-performing nation in this eventful week. US data continued to show that the economy...