EUR/USD
1.17718
-0.118%
Gold
3639.26
-0.141%
Oil
63.192
-0.153%
USD/JPY
148.051
0.043%
GBP/USD
1.35360
-0.124%
GBP/JPY
200.404
-0.071%
Real-time News
Gold prices fell for a third consecutive day on September 19th as traders grew more cautious about the prospect of Federal Reserve rate cuts and a stronger dollar curbed the precious metals recent gains. Gold prices are now about $70 below Wednesdays all-time high, which was driven to a record high by the Feds 25 basis point rate cut. Gold prices subsequently retreated after Fed Chairman Powells comments on the path of monetary policy were more hawkish than expected, stating that officials would take a "meeting-by-meeting" approach to further easing. Looking ahead, attacks on the Feds independence from the US government could further fuel golds gains. Governor Lisa Cook is embroiled in a legal dispute with President Trump, who sought to fire her over mortgage fraud allegations. Government economic advisor Stephen Milan, who was quickly appointed to fill a temporary vacancy at the Fed, was the only member of the board who dissented from the 25 basis point rate cut at Wednesdays meeting, favoring a 50 basis point cut instead.On September 19th, as market expectations for a Bank of Japan (BoJ) interest rate hike grew, prices for two-year government bonds, sensitive to monetary policy expectations, fell, pushing the yield up 0.5 basis points to 0.885%, the highest level since 2008. The BoJ will announce its interest rate decision later today, with the market generally expecting it to remain unchanged. Investors are closely watching for any clues regarding a September or December rate hike. Uncertainty over tariff policy and the political risks posed by Prime Minister Shigeru Ishibas announced resignation plan complicate the BoJs decision-making environment. However, according to sources familiar with the matter, BoJ officials believe that despite political uncertainty, another benchmark rate hike is still possible this year given that economic development is in line with expectations. According to an institutional survey, most BoJ observers expect a rate hike before January, while the proportion favoring a hike next month has slightly decreased following Ishibas resignation. Overnight index swaps indicate that the market is pricing in a roughly 65% probability of a BoJ rate hike before the end of the year.The yield on 40-year Japanese government bonds fell 1.5 basis points to 3.420%.On September 19th, Jinfang Pharmaceutical-B (2595.HK) officially listed on the Main Board of the Hong Kong Stock Exchange. The stock opened sharply higher in early trading at HK$44, a 115.79% surge from its IPO price of HK$20.4. Based on a 200-share board lot, excluding commissions, the book profit per board lot reached HK$4,722. This strong IPO performance was foreshadowed. In the previous trading days grey market, Jinfang Pharmaceutical-B closed up 110.10% at HK$42.84, with a book profit of HK$4,490 per board lot.The Hang Seng Index in Hong Kong opened at 26,583.03 points, up 38.18 points, or 0.14%, on Friday, September 19; the Hang Seng Tech Index in Hong Kong opened at 6,298.91 points, up 27.69 points, or 0.44%, on Friday, September 19; the CSI 300 Index opened at 9,472.31 points, up 15.79 points, or 0.17%, on Friday, September 19; and the H-share Index opened at 4,230.88 points, down 26.77 points, or 0.63%, on Friday, September 19.
