Western Europe

Gold and the dollar fell on Friday as global stocks rose, but the dollar rose. Nominated Kevin Warsh is his choice for the next Federal Reserve Chair. Warsh is a former Fed Governor and is seen as a supporter of lower interest rates. He is also considered one?of the?less radical choices from amongst all those who were suggested. The MSCI World Index was last 0.16% up as European shares rose, despite a drop in Asia-Pacific stocks. The pan-European STOXX 600 index was last 0.72% up, retaining gains made after Trump's announcement. It was on course to end January with a...

By Anna Szymanski 30th January - What Mike Dolan, the ROI team and I are looking forward to reading, watching and listening to this weekend. From the Editor Hello Morning Bid readers! The U.S. maintains that it has a "strong dollar policy" but few are able to agree exactly what this means. The dollar fell to its lowest level since early-2022 on Tuesday. This move was initially sparked by Friday's expectations of a joint U.S. and Japanese?intervention in order to prop up yen. After President Donald Trump said that the dollar would "find its levels" in response to the currency's...

He said that the top Democrat of a U.S. House investigation committee had questioned global trading companies Vitol and Trafigura regarding any correspondence?with Trump's administration prior to the U.S. arrest?of a?Venezuela leader. This was done in order to find out who benefited from this action. Robert Garcia, a Representative from California, asked Vitol CEO Russell Hardy & Trafigura CEO Richard Holtum to provide all communication between their companies & any members of Trump's administration since January 2025. The U.S. captured Venezuelan President Nicolas Maduro in the first few days of this month. Trump's administration said that it would manage Venezuela's...

The dollar recovered its footing after it had fallen sharply on Tuesday, when U.S. president Donald Trump appeared to "shrug off" its recent weakness. Meanwhile, positive earnings kept the world stock market near record highs ahead of a Federal Reserve interest rate decision. The?U.S. The?U.S. European stock markets declined, but U.S. futures indicated a positive opening for Wall Street. Japan's blue chip Nikkei also gained. The MSCI World Stock Index was hovering at record highs. "Last Week, when it seemed like there was a flight away from the U.S., you saw equities fall, Treasuries take a hit, and the Dollar...

After a steep sell-off on Wednesday, the dollar found its feet. U.S. president Donald Trump seemed to shrug its recent weakness. Meanwhile, upbeat earnings kept global stocks near record levels?before? a Federal Reserve rate announcement. The U.S. dollar dipped from four-year lows, but sentiment was fragile after the biggest selloff since Trump’s tariffs blitz shook markets in April. European stock markets declined, but U.S. futures indicated a positive opening for Wall Street. Japan's blue chip Nikkei also gained. The MSCI World Stock Index was hovering at record highs. "Last weekend, when it seemed that there was a flight away from...

The oil prices rose on Wednesday, as supply concerns remained after a winter storm that disrupted U.S. crude exports and production. Middle?East tensions also contributed to the increase. Brent crude futures increased 11 cents or 0.2% to $67.68 per barrel at 0725 GMT. U.S. West Texas Intermediate crude rose 19 cents or 0.3% to $62.58 per barrel. Both benchmarks rose by about 3% Tuesday. Analysts and traders estimated that the storm had caused the U.S. to lose up to 2,000,000 barrels of oil per day, or 15% of the nation's output, over the weekend. Ship tracking service Vortexa reported that...

On Wednesday, oil prices were mixed. Brent was down slightly while the U.S. contract edged higher. Supply concerns increased after a winter storm disrupted production and stopped Gulf Coast exports at the weekend. Brent crude futures dropped 6 cents or 0.1% to $67.51 a 'barrel' by 0122 GMT. U.S. West Texas Intermediate Crude rose 4 cents or 0.1% to $62.43 a 'barrel. Both benchmarks rose by about 3% Tuesday. Analysts and traders estimate that U.S. oil producers lost as much as 2 million barrels of crude oil per day, or 15%, over the weekend due to the storm straining the?energy...

Asian shares reached a record high on Tuesday, as investors hoped that the U.S. earnings of large-cap companies would be positive. However, uncertainty over President Donald Trump's tariff moves against South Korea has boosted gold and Silver. Trump said late Monday that he will increase tariffs to 25% on imports of goods from Asia's 4th largest economy. The Nasdaq Futures rose 0.5% as investors prepared for the slew earnings that will be released by Microsoft, Apple, and Tesla on Wednesday. Even South Korea's KOSPI surged by over 2% and reached a new high. The EURO STOXX futures are pointing to...

Investors hoped that a barrage?U.S. Mega-cap earnings were a big factor, but uncertainty due to President Donald Trump's tariff moves against South Korea capped broader gains. Trump increased tariffs to 25% on autos, lumber, and pharmaceutical imports to the U.S. from Asia's 4th-largest economy. The Nasdaq Futures rose 0.2%, as investors prepared for the earnings of the Magnificent Seven, including Microsoft, Apple, and Tesla, on Wednesday. Even South Korea's KOSPI reversed earlier losses and was last to gain 0.8%. Silver surged 6.4% to $110.60 per ounce and is not far off the record set just on Monday. Christopher Louney is...

The price of oil fell on Tuesday, despite a major winter storm that hit the crude production in the U.S. Gulf Coast and affected refineries. Brent crude futures fell 28 cents or 0.4% to $65.31 per barrel at 0145 GMT. U.S. West Texas Intermediate Crude was $60.39 per barrel, down by 24 cents or 0.4%. Analysts and traders estimate that oil producers in the U.S. lost up to two million barrels of oil per day, or about 15% of the nation's production, over the weekend. This was due to a winter storm which swept through the country and put strain...

By Mike Dolan Jan 26th - What's important in the U.S. and Global Markets Today By Mike Dolan Editor-at-Large of Finance and Markets Gold was unstoppable Monday, as it reached $5,000 per ounce at its highest level ever. It has risen?more that 80% in the last 12 months. What is the cause of the recent surge? Pick your favorite: a falling dollar; a fractured world order; renewed trade tensions; concerns about Fed independence and an inflationary horizon. The central?bank?buying boom and retail speculation continue. Looking ahead, it appears that gold and precious metals, with silver also at record levels, will...

Ankur Banerjee gives us a look at what the future holds for European and global markets Investors are unsure when and how the authorities may intervene. After Friday's volatile surge, the yen has risen to a 4-month high of US$153.81 from as low a USD159.23. On Friday, sources said that the New York Federal Reserve had contacted traders in order to check rates. This is often a precursor of an actual intervention. The markets have also been focused on the U.S. cooperation and have been "generally selling" the dollar during Asian hours. This kind of big yen movement without an...

Mozambique President Daniel Chapo inaugurated a 200,000-metric-ton-per-year graphite-processing plant on Friday at a Chinese mine, as the country boosts its output of the battery mineral. The United States Geological Survey estimates that the annual global production of graphite is 1.6 millions metric tons. Mozambique, meanwhile, is one of world's leading producers of this mineral. It is an?excellent conductor of electricity and heat, and is used to make?batteries and mobile phones for electric cars. China is the largest graphite producer and miner in the world. Chapo said Mozambique was making the most of its resources, including a liquefied gas project worth...

Gold prices fell by over 8% on Friday to 'break below $5,000 mark as the dollar strengthened due to the upcoming appointment of the new U.S. Federal Reserve chair. However, the safe-haven material remained on track for its largest monthly gain since 1982 following multiple record highs. As profit-taking took hold, other precious metals have also fallen sharply. Gold spot was down 5% to $5,124.37 per ounce at 1132 GMT. It had fallen earlier in the day to $4,957.54. U.S. gold futures for delivery in February fell by 3.9% to $5118.40. Gold reached a record high of $5,594.82 Thursday, and...

Gold prices fell by over 7% on Friday, breaking?below $5,000. The dollar was strengthening on the news of the imminent appointment of a new U.S. Federal Reserve chair. However, the safe-haven material remained on track for its largest monthly gain since 1999. As profit-taking took hold, other precious metals have also fallen sharply. By 0947 GMT, spot gold had fallen 7.5% to $4.992.05 per ounce. U.S. Gold Futures for February Delivery fell 6.4% to $ 4,985. Gold reached a record high of $5,594.82 in the US on Thursday. It is on course to gain more than 15% this month. This...

The firms announced on Thursday that the Aluminium Corporation of China (Chinalco), and Rio Tinto had agreed to purchase a controlling interest in Companhia Brasileira de Aluminio, for a total amount of 4.69 billion Reis ($903.61 millions). The companies said that together they will purchase 68.6% or 446.6 millions shares of Brazilian aluminium manufacturer CBA at a price of 10.50 reais per share. They added that the Brazilian conglomerate Grupo Votrorantim will purchase the controlling stake. Both will launch a tender for the remaining CBA shares, a move that is required by Brazilian regulations and could lead to the removal...

ArcelorMittal is a multinational steelmaker that was the former owner Acciaierie d'Italia, an Italian steel company. On Thursday, it announced that it filed a 1.8 billion euro claim ($2.2 billion) against the Italian Government over losses?linked with its investment in ADI's factories. This filing is a 'tit-fortat' move after Italy's state appointed administrators of ADI (formerly known as ILVA) sought around 8 billion euros in damages from ArcelorMittal alleging it mismanaged ADI’s steelworks. Early in 2024, the government assumed control of ADI after ArcelorMittal. ADI has struggled to maintain its production due to high energy costs and low demand. In...

The gold price surpassed $5,300 an ounce on Wednesday for the 'first time,' driven by economic uncertainties and a weakening?U.S. dollar. Investors waited for the Federal Reserve to announce its policy amid growing concerns about their independence. By 12:45 pm, spot gold had risen 1.9% to $5,289.48 per ounce. After reaching a record of $5,311.31, ET (1745 GMT), gold prices fell to $5,289.48 an ounce. The previous session saw prices rise by more than 3%. U.S. Gold Futures for February Delivery jumped by 4% to $5286.50 per ounce. Dollar-priced gold is now cheaper for foreign buyers. Peter Grant, senior metals...

Investors waited for the Federal Reserve to announce its policy, amid growing concerns about the independence of the Fed. By 11:05 am, spot gold had risen 1.7% to $5,278.28 per ounce. After reaching a record of $5,311.31, ET (1605 GMT), gold prices fell to $5,278.28 an ounce. The previous session saw prices rise by more than 3%. U.S. Gold Futures for February Delivery jumped by?3.8% to $5275.30 per ounce. Dollar-priced gold is now cheaper for foreign buyers. Peter Grant, senior metals analyst at Zaner Metals and vice president at Zaner Metals said: "The rally has taken on a new life...

Gold prices rose to $5,300 an ounce on Wednesday for the first-time as a result of waning confidence in the U.S. Dollar and growing concerns about the independence of the U.S. Federal Reserve. Gold spot jumped by 1.3%, to $5,255.95 per ounce, at 1131 GMT, after reaching a record of $5,311.31. Prices rose by more than 3% during the previous session. U.S. Gold Futures for February Delivery jumped by 3.3%, to $5.250 an ounce. "Gold is not only rising because of market anxiety but also due to a shift in confidence towards a more 'cautious stance,'" said Linh Tran senior...

Gold prices surpassed $5,300 an ounce on Wednesday for the first-time as a result of waning confidence in the U.S. Dollar and growing concerns about the independence of the U.S. Federal Reserve. Gold spot jumped by 1.7%, to $5,275.68 per ounce, at 0940 GMT, after reaching a record of $5,311.31. Prices rose by more than 3% during the previous session. U.S. Gold Futures for February Delivery jumped by 3.7%, to $5,271.70 per ounce. "Gold is not only rising due to'market anxiety', but also as confidence in global monetary and fiscal order is shifting towards a more conservative stance," explains Linh...

SSAB, a Swedish steelmaker, reported a 'bigger than anticipated rise in its operating 'profit 'in its fourth quarter on Wednesday. This was aided by an improved performance from its Americas division. Operating earnings increased to 756 billion Swedish Crowns ($86 billion), from 487 millions crowns during the same quarter in 2024. A poll by SSAB revealed that analysts expected a median of?606.1million crowns. The company produces high-strength, specialized steels for cars, construction equipment and agricultural machinery, and has production facilities both on the Atlantic and in Europe. In the earnings report, CEO Johnny Sjostrom stated that "there have been few...

Zinc did not perform according to script in 2018 and the galvanising material continues to surprise 2026. The London Metal Exchange (LME) is trading at its highest levels in three years this week. A market that was expected to move to an oversupply by 2025, was instead rocked in October by a fierce squeeze. The global mine production is increasing at a rapid pace, but the flow through to the refined metal segment is taking longer than expected. This is because the'surplus' is all stuck in China. LME zinc inventories have increased from the depleted levels of October thanks to...

India and the European Union concluded negotiations on the long-awaited Free Trade Agreement as both sides sought to soften the impact of the strained relations with the United States. The pact opens the way to?freer trade of goods and services' between India and the EU, which together represents a market with approximately 2 billion people. The following are the key details of this deal: BENEFITS TO EU EXPORTERS - Indian tariffs will 'fall to zero' on goods traded with EU immediately. Tariffs on 90% of EU exports will be reduced or eliminated EU firms can save up to $4.74 billion...