Author Archive

Holly Ellyatt@HollyEllyatt

LONDON — European stocks started the new trading week on a positive note, buoyed by gains in Asia overnight and last Friday’s rally on Wall Street.

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Gold prices fell on Friday after a stronger-than-expected U.S. jobs report boosted the dollar and caused analysts to scale back expectations of an aggressive rate cut from the Federal Reserve next month.

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Lim Hui Jie

Key Points

• Three central banks in Asia-Pacific are set to release their interest rate decisions this week, namely the Bank of Korea, Reserve Bank of New Zealand and Reserve Bank of India.
• Economists polled by Reuters expect the BOK and RBNZ to cut rates, while the RBI will hold.
• Nintendo shares recorded a gain of almost 5%, after Saudi Arabia’s PIF was reported to be considering raising its stake in the company and other Japanese gaming counterparts.

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Karen Gilchrist@_karengilchrist

LONDON — European stocks moved tentatively higher Friday as traders continue to monitor the escalating conflict in the Middle East and look ahead to the latest U.S. jobs report.

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By Haresh Menghani

• Gold price gains some positive traction amid a modest USD pullback from a one-month top.
• Geopolitical risk benefits the safe-haven XAU/USD and further contributes to the uptick. 
• Diminishing odds for an aggressive Fed easing cap the metal ahead of the US NFP report.

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Lee Ying Shan@in/ying-shan-lee@LeeYingshan

Key Points

• Asia-Pacific markets traded mixed on Friday.
• This follows after losses on Wall Street, with concerns over Middle East tensions keeping investors on edge.
• U.S. crude futures rose around 5% overnight and ticked higher again on Friday morning on concerns that Israel could strike Iran’s oil industry in retaliation for Tehran’s missile attack this week.

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Holly Ellyatt@HollyEllyatt

LONDON — European stocks moved lowered Thursday as conflict in the Middle East weighs on regional investor sentiment.

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Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve’s interest rate cuts expected later this year.

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Anniek Bao@in/anniek-yunxin-bao-460a48107/@anniekbyx

Key Points

• The Japanese yen weakened against the U.S. dollar, a day after clocking its largest single-day decline since June 2022.
• Markets in mainland China will remain closed until Oct. 8 for a week-long holiday and South Korea will be shut Thursday for National Foundation Day.
• Taiwan markets were shut for a second day as Typhoon Krathon brings torrential rain on the island.

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Gold prices were flat on Wednesday, as a firmer dollar partially offset safe-heaven demand amid heightened Middle East tensions, while investors awaited U.S. data for further economic cues.

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