Gold prices dipped slightly in Asian trading on Tuesday, though they retained some gains from the previous session as signs of a cooling U.S. economy increased expectations for interest rate cuts, driving the dollar to two-month lows. Despite the recent gains, gold remained well below the record highs achieved in May. Upcoming labor market

  A sharp decline in new housing construction in China is raising hopes that the beleaguered property sector is finally addressing its chronic oversupply issue. However, the absence of a comprehensive strategy to clean up bad assets keeps fears of prolonged stagnation, similar to Japan’s experience, alive. China’s current situation mirrors the U.S. and Spain’s

  The Organization of Petroleum Exporting Countries and allies (OPEC+) announced at its recent meeting that it plans to start scaling back some of its production cuts later this year. Macquarie analysts indicated that this scenario could exert long-term pressure on oil prices. OPEC+ stated it will maintain production cuts of 3.6 million barrels per

  Bitcoin’s price stabilized on Tuesday, hovering just below critical levels. The dollar’s weakness, driven by speculation about potential interest rate cuts by the Federal Reserve, has sparked some flows into cryptocurrency markets. Bitcoin rose 0.8% over the past 24 hours, reaching $69,049.3 by 01:50 ET (05:50 GMT). The world’s largest cryptocurrency was now about

  Asian share markets retreated on Tuesday as global investors awaited India’s official election results and assessed signs that the U.S. economy’s ‘exceptionalism’ might be unwinding due to weakening manufacturing activity. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4%, following mild gains in U.S. stocks the previous session. Despite this, the index is

  Indian stocks experienced their steepest decline in four years on Tuesday, as early vote counts suggested that Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP)-led alliance might not achieve the overwhelming majority forecasted by exit polls. While initial vote counting in the general election indicated that Modi’s bloc was on track to secure a

  Oil prices declined by up to 1% in Asian trading on Tuesday, extending losses from the previous session’s four-month low as investors remained concerned about increasing supply later this year amid signs of weakening U.S. demand. Brent crude futures dropped 73 cents, or 0.93%, to $77.63 a barrel by 0638 GMT. This followed Brent’s

    Deutsche Bank will collaborate with Bitpanda to handle customer deposits and withdrawals for the Austrian crypto broker, according to statements made by the companies to Reuters. Historically, the crypto industry has faced challenges in securing banking partners, particularly after the collapse of Silvergate Capital Corp, Signature Bank, and Silicon Valley Bank in 2023,

  Indian stocks experienced a sharp decline from record highs on Tuesday, erasing much of the gains made in the previous session. This downturn was driven by early vote counting in the closely-watched 2024 general election, which indicated a less decisive victory for the BJP than initially anticipated. The Nifty 50 index fell 3.8% to