Stocks, dollar eye weekly rise on Trump's tariff backdown

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The Star 12h ago

Stocks, dollar eye weekly rise on Trump's tariff backdown - The Star

Quick Summary:

SINGAPORE: Asian stock markets headed for a second straight week of gains on Friday and the dollar for its first weekly rise in more than a month as investors have welcomed an apparent softening of the White House stance on China, despite no signal of detente.

After tit-for-tat tariffs put an effective embargo on trade between the world's two biggest economies, the U.S.this week shifted tone and said the situation would be unsustainable.

Gold was firm at $3,349 an ounce and analysts at Philip Securities in Singapore noted the Gold/S&P 500 ratio, a gauge of investors' gloom, was at its highest since the pandemic-driven bear market of 2020.