Gold Slips as Trump’s BRICS Currency Warning Boosts US Dollar
Gold prices declined as the US dollar strengthened, following comments by former President Donald Trump warning against potential impacts of a proposed BRICS currency. The dollar’s rally dented the appeal of non-yielding assets like gold, highlighting heightened sensitivity in the global commodities market. Trump’s remarks underscored concerns that a unified BRICS currency could weaken the […]
BoJ’s Ueda: Wage trends key to possible rate hike
The Bank of Japan’s (BoJ) Governor, Kazuo Ueda, emphasized that wage growth remains a critical factor in determining future monetary policy adjustments, including a potential rate hike. Speaking at a recent economic forum, Ueda noted that sustainable wage increases are vital to achieving the BoJ’s inflation target of 2%, signaling that the central bank’s ultra-loose […]
PBOC sets USD/CNY reference rate at 7.1865 vs. 7.1877 previous
China’s central bank, the People’s Bank of China (PBOC), has adjusted the USD/CNY reference rate to 7.1865, marginally lower than the previous rate of 7.1877. This move aligns with Beijing’s ongoing efforts to stabilize the yuan amid global currency fluctuations and persistent economic pressures. The modest adjustment comes as market participants closely monitor the PBOC’s […]
Japanese Firms Boost Capex in Sign of Confidence Holding Up
Japan’s corporate capital expenditures surged by 8.1% year-on-year in the third quarter, signaling robust domestic demand and bolstering the nation’s economic recovery. This uptick in business investment is expected to positively influence the revised GDP figures scheduled for release on December 9. The preliminary data had indicated a 0.9% annualized GDP growth for the same […]
Oil Edges Higher With Focus on China’s Economy, OPEC+ Meeting
Oil prices climbed on Monday, buoyed by optimism surrounding China’s economic performance and market speculation ahead of the OPEC+ meeting. Investors are closely watching Beijing’s latest signals of economic resilience, as a recovery in the world’s second-largest economy is expected to support global oil demand. Analysts point to recent factory activity data and consumer sentiment […]
Australia’s Retail Sales climb 0.6% MoM in October vs. 0.3% expected
Australia’s retail sales jumped 0.6% month-on-month in October, surpassing market forecasts of a modest 0.3% rise. The robust performance reflects growing consumer confidence despite persistent cost-of-living pressures and higher interest rates weighing on household budgets. The better-than-expected data signals resilience in the Australian economy, as retail sales often serve as a key indicator of consumer […]
Trump threatens BRICS nations with 100% tariffs if they try to replace US Dollar
Former President Donald Trump has issued a stark warning to the BRICS nations—Brazil, Russia, India, China, and South Africa—over their collective push to challenge the U.S. dollar’s global dominance. Speaking on the growing efforts by these countries to establish alternatives to the dollar in international trade, Trump threatened to impose 100% tariffs on their exports […]
Asian Stocks Edge Up, Euro Falls on French Concern: Markets Wrap
Asian stock markets posted modest gains, with investor sentiment cautiously optimistic despite challenges in global economic outlooks. Japan’s Nikkei 225 rose 0.3%, buoyed by tech sector performance, while Hong Kong’s Hang Seng Index saw a slight 0.2% uptick, driven by renewed interest in Chinese equities. However, broader markets showed signs of restraint as European developments […]
Gold Price Forecast: XAU/USD holds below $2,650 on US Dollar rebound
Gold prices remain capped below $2,650, weighed down by a recovering US Dollar. The greenback’s rebound comes on the back of improved economic data, dampening demand for the safe-haven metal. While earlier gains in gold were driven by geopolitical tensions and inflation concerns, the stronger dollar has shifted the narrative, making the precious metal less […]
Russian and Syrian airstrikes hit Aleppo and Idlib as rebels take control
A series of airstrikes by Russian and Syrian forces struck key areas in Aleppo and Idlib, intensifying the conflict in northern Syria. The attacks reportedly targeted rebel-controlled zones as opposition forces made significant territorial advances. Civilian casualties have been reported, with local sources highlighting extensive infrastructure damage in the affected regions. These developments come amid […]