The commodity market was strong today. Gold was seen on a high note due to encouraging data received from China while crude oil was edging to a second day gain due to the rising hopes of a reduction in output. However, in Asia, the markets remained on a mix note today!
Toshiba Corp is expected to incur losses amounting to 700 Billion Yen instead of 500 Billion as previously anticipated by investors. Moreover, on the other side, Gold weakened on amid concerns of an interest rate hike after comments by the Federal Reserve Chair, Janet Yellen.
The U.S. dollar was not in a good shape on Wednesday as yesterday the President elect Donald Trump stated that the currency was too strong. As a result, the U.S. currency edged to a one month low. Nevertheless, crude oil benefited from this fall and was seen higher today!
General Motors Co is expected to announce investments amounting to about $1 Billion in its U.S. factories. As a result, this will sustain more than 1,000 jobs in the U.S. On the other side, investors remain apprehensive of a scheduled speech by British Prime Minister Theresa May which might harden the stance of Britain for a hard departure from the European Union.
On Monday, crude oil was back to the highs as the U.S. dollar lost ground. Besides, Gold was also spotted on a high note as the British pound fell. Likewise, the British currency also weighed on the Asian markets which were spotted lower today.
The press conference of President-elect, Donald Trump, left investors with more doubts due to a lack of information on the economic policies it intends to enact during his Presidency. On the other side, Amazone.com Inc revealed that it is anticipating to create more than 100,000 jobs in the United States in the next 18 months.
President elect Donald Trump made his first press conference yesterday and it did create an impact on the financial markets. Accordingly, Gold was seen lower today while the U.S. dollar managed to retrace some of the losses experienced yesterday. Otherwise, Asian markets traded mixed today.
Today, the financial markets were seen mixed. By the side of Asia, the markets were seen higher as the U.S. President elect Donald Trump will soon give his first press conference. Besides, this highly coveted press conference gave a boost to the Gold market.
Yahoo Inc made the announcement on Monday about its decision to rename itself Altaba after its acquisition by Verizon is sealed. On the other side, China's Alibaba Group Holding Ltd is taking the leading path in an estimated $ 2.6 billion bid to privatise Intime Retail Group Co Ltd.
The NFP reports were released on Friday, thus giving support to more interest rate hikes. By the side of the commodity market, crude oil was back to the lows on Monday due to Iran which raised its exports while Gold was stronger in Asia.