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Real-time financial news from around the world.
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NZX 50 Edges Lower, Extends Losses
New Zealand stocks fell 27 points, or 0.2%, to 13,916 in Tuesday morning deals, extending losses from the previous session, mainly weighed down by financials, materials, tech, and utilities. Traders were cautious ahead of China's trade data due later today, with China being New Zealand's top trade partner, as well as CPI and PPI data due later this week. Rising oil prices also pressured sentiment amid the escalating conflict in the Middle East, raising concerns over inflation and boosting bets that central banks would raise interest rates. However, a report from Moody's ratings agency capped the fall, saying New Zealand's economic recovery is underway but warning that several issues remain unresolved. Among the early losers were Summerset Group (-1.2%), Fletcher Building (-0.8%), ANZ Group (-0.7%), Vulcan Steel (-0.7%), Infratil (-0.5%), and Auckland International Airport (-0.5%).
Crypto Updates: XRP Depreciates by 2.57%
Top crypto losers are XRP (-2.57%), Binance (-2.13%), Bitcoin (-1.91%) and Ether (-1.41%).
Agricultural Commodities Updates: Oat Plunges by 10.18%
Top commodity losers are Oat (-10.18%), Rice (-10%) and Wheat (-2.72%). Gains are led by Butter (4.17%), Palm Oil (0.99%) and Rubber (0.73%).
Metals Commodities Updates: Lithium Carbonate Falls by 2.96%
Top commodity losers are Lithium Carbonate (-2.96%), Silicon (-1.37%) and Gold (-0.54%). Gains are led by Iron Ore CNY (1.03%), Platinum (0.60%) and Copper (0.54%).
Energy Commodities Updates: Heating Oil Gains by 2.91%
Top commodity gainers are Heating Oil (2.91%), Natural Gas UK (2.66%), Natural Gas EU (1.88%), Crude Oil (1.30%) and Brent Oil (1.03%). Biggest losers are Methanol (-1.67%) and Coking Coal (-0.73%).
FX Updates: Japanese Yen Appreciates by 1.22%
Top currency gainers are Japanese Yen (1.22%), Norwegian Krone (0.48%), British Pound (0.14%) and Euro (0.09%). Biggest losers are Dollar Index (-0.27%), Swedish Krona (-0.27%) and Mexican Peso (-0.25%).
Crypto Updates: XRP Drops by 1.95%
Top crypto losers are XRP (-1.95%), Binance (-1.75%), Bitcoin (-1.51%) and Ether (-0.97%).
Agricultural Commodities Updates: Rice Slumps by 10.00%
Top commodity losers are Rice (-10%) and Coffee (-0.91%). Gains are led by Palm Oil (0.99%), Rubber (0.73%) and Rapeseed (0.64%).
Metals Commodities Updates: Lithium Carbonate Drops by 2.96%
Top commodity losers are Lithium Carbonate (-2.96%), Silicon (-1.37%) and Gold (-0.62%). Gains are led by Iron Ore CNY (1.03%) and Platinum (0.51%).
Energy Commodities Updates: Heating Oil Rises by 3.23%
Top commodity gainers are Heating Oil (3.23%), Natural Gas UK (2.66%), Natural Gas EU (1.87%), Crude Oil (1.32%) and Brent Oil (1.09%). Biggest loser is Coking Coal (-0.73%).
DAX 40 Finishes In The Red
The DAX 40 closed about 0.2% down at 26,006.5 on Monday, halting a three-day winning streak and lagging its regional peers. Sentiment was weighed down by rising oil prices, expectations of higher interest rates, political uncertainty in Europe and weak German industrial data. The AfD’s strong showing in Saxony-Anhalt also raised concerns over political stability and could complicate Chancellor Merz’s economic reform agenda. Meanwhile, the ECB is widely expected to deliver a 25-bps hike to 2.5% on Thursday. Among individual stocks, Qiagen NV led losses, dropping 2.9%, followed by Munchener Ruck, Hannover Ruck, SAP and Rheinmetall, falling between 1.3% and 2.7%. Rate-sensitive Vonovia fell 2.2%, with Goldman Sachs also downgrading the stock from "Buy" to "Neutral". On the upside, Infineon Technologies soared 6.8%, supported by strong demand for semiconductor stocks and a favorable recommendation from Warburg Research.
European Stocks Close Muted
European stock indices closed with small movements on Monday as markets continued to assess how the corporate sector will fare against higher interest rates, with the threat of higher budget deficits and political uncertainty lifting sovereign yields. The Euro STOXX 50 inched up by 0.1% to 6,399 and the STOXX Europe 600 was unchanged at 649.8. The German far-right AfD party won state elections in Saxony-Anhalt over the weekend, the party's first major victory, to extend the momentum of political fragmentation in Europe. Bund yields surged with the outlook of wider deficits combined with inflationary risks from soaring natural gas prices, as the European Central Bank is due to deliver its second rate hike of the year this week. Insurance stocks tumbled, with Munich Re down 3% while Allianz fell nearly 1%. Meanwhile, ASML gained 2.3% and Infineon soared 6.4% as strong signals by Korean chipmakers supported the sector.
FTSE 100 Falls on Monday
The FTSE 100 edged down on Monday, weighed down by weakness in major consumer stocks, with Unilever and BAT declining 1.4% and 1%, respectively. The losses were partly offset by gains in energy shares, as Shell and BP rose 1.1% and 1.3% alongside higher crude prices. Investor focus remained firmly on developments in the US-Iran conflict, with tensions persisting after reports that the US had struck three Iranian oil tankers following attacks on US warships. Energy Secretary Chris Wright also warned that a new nuclear agreement with Tehran may not be reached soon, suggesting Washington could instead focus on eliminating Iran’s nuclear capabilities. Meanwhile, domestic data showed UK house prices fell 0.2% in August, pushing annual prices into negative territory for the first time since November 2023, according to Lloyds.
Uranium Holds Near 6-Month High
Uranium futures in the US were at $90 per pound, remaining close to the over six-month high of $90.6 touched on August 26th amid risks to supply and strong demand. The outlook on yellowcake supply from Kazatomprom, the world's largest uranium producer, faced fresh uncertainty as its TQZ sulphuric acid plant faced delays, limiting capacity for leaching uranium. The producer also noted that demand was accelerating as large economies continued to invest in nuclear power to achieve decarbonization goals and limit exposure to volatile commodity markets due to geopolitical tension in Russia and the Middle East. Italy was the latest to express interest to approve a legal framework to restore nuclear power, in line with measures from the US and Japan as power consumers expand sources for generation to account for the higher demand from data center projects. Meta, Amazon, and Microsoft signed agreements to gain fresh nuclear capacity for their future AI data center operations.
FX Updates: Japanese Yen Appreciates by 1.26%
Top currency gainers are Japanese Yen (1.26%), Norwegian Krone (0.45%), British Pound (0.17%) and Euro (0.15%). Biggest loser is Dollar Index (-0.32%).
Lithium Drops to Near 1-Month Low
Lithium carbonate prices in China fell to CNY 147,000 per tonne in September, the lowest in nearly one month, as the outlook of higher production in Australia offset supply uncertainty in China. Industry players reiterated the outlook of ample supply from major producers to maintain the ongoing supply surplus through the next decade. These were led by Australian lithium producers, with Mineral Resources restarting its Bald Hill lithium mine following an 18-month suspension, while Core Lithium restarted its Finniss project. A sharper pullback was prevented by more disruption in CATL's Jianxiawo mine, China's largest by capacity and responsible for 4% of global supply. Chinese authorities revoked their environmental approvals for the mine to extend the period of permit hurdles for over one year, coinciding with Beijing's anti-involution campaign and efforts to combat producer overcapacity.
Baltic Dry Index Breaks 3-Day Advance
The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, fell by 1.4% to 3,575 points on Monday, snapping a three-day advance but staying near its highest levels since October 2021. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, slumped by 2.2% to 6,286 points, also breaking a three-day wining streak but remaining close to its peak since December 2023. At the same time, the panamax index, which tracks vessels carrying around 60,000 to 70,000 tons of coal or grain, was down for a second session, falling 0.7% tp 2,431 points. Among smaller vessels, the supramax index went up by 0.4% to 1,682 points.
US Gasoline Rises to Two-Week High
US gasoline futures traded above $3.21 a gallon, extending gains to a two-week high as tensions remained elevated in the Strait of Hormuz amid strikes on vessels transiting near the waterway. Adding to the pressure, tensions between Russia and Ukraine show no sign of waning, despite the meeting between Ukraine and US envoys, as energy infrastructure continues to be targeted. As global refining capacity remains constrained, US refiners are largely out of capacity to boost further production, reflected in continued drawdowns in recent weeks as EIA data showed US gasoline inventories fell 1.173 million barrels in the week ending August 28th. Still, US Energy Secretary Wright stated that supply-side solutions were preferred to support energy flows, while other officials denied that a potential export ban was under consideration, adding that the end of the summer driving season could weaken gasoline demand, while changes to fuel-blending requirements could help boost production.
Mexico Auto Exports Rise in August
Mexico’s car exports rose 1.3% year-on-year to 300,475 units in August 2026, following a 9.7% decline in July. Export volumes increased most for BMW Group (31.4%), followed by General Motors (16.8%) and Stellantis (15%). Still, Mexico’s auto sector remains affected by uncertainty over US trade policies, as 76.3% of auto shipments are destined for the US. US President Trump in his second term imposed a series of tariffs on multiple countries, including Mexico. The Trump administration also decided not to renew the USMCA, the agreement will remain in force for another decade unless a member withdraws, but with annual reviews that could lead to significant changes. The US and Mexico also continue bilateral trade negotiations. Auto shipments fell most for Mercedes-Benz (-95.3%), Ford Motor (-41.3%), and Mazda (-25.2%).
Mexico Auto Production Falls Again
Mexico's car production fell 1.4% year-on-year to 344,940 units in August 2026, following a 2.2% decline in July. The result reflected continued uncertainty in the auto sector as changing US trade policies clouded manufacturers' production plans. US President Trump in his second term imposed a series of tariffs on multiple countries, including Mexico. While the Trump administration decided not to renew the USMCA, the agreement will remain in force for another decade unless a member withdraws, with annual reviews that could lead to significant changes. The US and Mexico also continue bilateral trade negotiations. Output declined sharply at Mercedes (-99%), Nissan (-26%) and Ford Motor (-25.7%), as well as Stellantis (-3.8%) and Toyota (-3%). Meanwhile, production rose sharply for BMW Group by 359%.
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