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Economic Times
43 minutes ago
- Economic Times
Gold steady after Trump unveils steeper tariffs, Treasury yields weigh
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Economic Times
43 minutes ago
- Economic Times
Yen stumbles as Trump imposes 25% tariffs on Japan
Live Events DOLLAR HOLDS GAINS (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The yen fell broadly on Tuesday while the dollar held steady as U.S. President Donald Trump unveiled 25% tariffs on goods from Japan and South Korea in the latest development of his chaotic trade on Monday began telling trade partners - from powerhouse suppliers like Japan and South Korea to minor players - that sharply higher U.S. tariffs will start August 1. He later said that he was open to extensions if countries made announcement rattled investor sentiment, sending the Japanese yen and South Korean won down roughly 1% currencies remained under pressure early on Tuesday, with the yen falling to a two-week low of 146.44 per dollar. The won rose 0.4% to 1370.20 per entered the week with much confusion over Trump's tariff plans ahead of an initial July 9 deadline. While the new August 1 date offers a brief reprieve, the outlook remains uncertain and global economic concerns persist."There is still a lot of uncertainty as to where tariff rates will eventually settle and which countries will get what rates, so uncertainty about the global economy is still high and that will keep investors on edge for the time being," said Carol Kong, a currency strategist at Commonwealth Bank of Australia "This is just the start and we'll get more headlines out for sure over the coming days."Japanese Prime Minister Shigeru Ishiba said on Tuesday that Japan would continue negotiations with the United States to seek a trade deal that benefits both Korea has said it plans to intensify trade talks with the U.S. and views Trump's plan for a 25% tariff from August 1 as effectively extending a grace period on implementing reciprocal currencies meanwhile gained some ground on Tuesday, after sliding in the prior session when the dollar euro was up 0.27% to $1.1741 after having slid 0.67% on Monday, while sterling edged up 0.17% to $ European Union will not receive a letter from the United States setting out higher tariffs, EU sources familiar with the matter told Reuters on Monday, and is eyeing possible exemptions from the U.S. baseline levy of 10%.Against a basket of currencies, the dollar was little changed at 97.40, holding on to most of its gains from Monday when it rose 0.5%.The Australian dollar last traded 0.32% higher at $0.6513, having tumbled 0.9% in the previous session as risk appetite New Zealand dollar advanced 0.22% to $0.6015, reversing some of Monday's 0.8% Reserve Bank of Australia announces its rate decision later on Tuesday, where expectations are for the central bank to deliver another rate cut owing to easing inflation and a slowing economy."Given the ever-shifting balance of risks and the heightened uncertainty it creates for hiring and investment in the Australian economy, more RBA cuts are set to follow," said Carl Ang, fixed income research analyst at MFS Investment Management."A 3.1% terminal rate by early 2026 remains the base case for this RBA cutting cycle."
Mint
44 minutes ago
- Mint
Buy or sell: Vaishali Parekh recommends three stocks to buy today despite Trump's tariffs uncertainty
Buy or sell stocks: Amid escalating Trump's tariff uncertainty, the Indian stock market continued to trade in a narrow range on Monday. The Nifty 50 index finished marginally higher at 25,461, the BSE Sensex added 9 points and closed at 83,442, while the Bank Nifty index went off 82 points and closed at 56,949. Leading the charge among the top performers on the Nifty were Hind Unilever, Tata Consumer and Nestle, showcasing resilience. Conversely, BEL, Tech Mahindra, and ONGC bore the brunt of selling pressure, concluding the session as major losers. Trading volumes on the NSE cash market were significantly lower, down 13% compared to yesterday, marking the lowest volume since March 17, 2025, indicating a continuation of moderated activity. The Nifty Midcap and Smallcap Indices witnessed profit booking to end the day with minor losses. The Nifty Midcap 100 Index fell by 0.27%, while the Nifty Smallcap 100 Index fell by 0.44%. Market breadth turned negative, with declining stocks outpacing advancing ones, as indicated by a BSE advance-decline ratio of 0.72. Amongst the sectoral Indices, Nifty FMCG, OIL/Gas, and Realty were major gainers, while Nifty Media, IT, and Metal were major losers. Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market mood may remain positive as the Nifty 50 index continues to sustain above the crucial 25,300 to 25,250 support levels. However, the Prabhudas Lilladher expert advised investors to remain vigilant about the developments surrounding Trump's tariffs. Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index continue to remain sluggish for another session witnessing consolidation with a very narrow range bound movement during the intraday session to end on a flat note with bias and sentiment sustained, having the important near-term support positioned near 25,250-25,300 zone. As mentioned earlier, we can expect a revival on the upside and carry on with the positive move for higher targets of 25700 and 26200 levels once a decisive breach above the 25650 zone is confirmed." "The Bank Nifty index witnessed some volatility in the initial half, finding resistance near the 57,150 zone and slipping down to remain rangebound and ended the session almost on a flat note, just below the 57,000 zone with bias maintained intact and formation on a higher bottom pattern visible on the daily chart. As mentioned earlier, the index continues to have the 56,000 zone as the important support, which needs to be sustained as of now. Once a decisive breach above the resistance level of 57,600 is breached, one can expect fresh targets of 58,500 and 60,000 levels in the coming days," said Parekh. Parekh said that today, the Nifty's immediate support is at 25,300, while the resistance is at 25,600. The Bank Nifty would have a daily range of 56,500-57,600. Regarding stocks to buy today, Vaishali Parekh recommended these three intraday stocks to buy-or-sell: RattanIndia Power, Emami, and DB Realty. 1] RattanIndia Power: Buy at ₹ 15.92, Target ₹ 18, Stop Loss ₹ 15; 2] Emami: Buy at ₹ 576, Target ₹ 600, Stop Loss ₹ 564; and 3] DB Realty: Buy at ₹ 235.30, Target ₹ 246, Stop Loss ₹ 230. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
