A gauge of the dollar dipped for the first time in four days with Federal Reserve officials set to enter a blackout period ahead of this month’s policy meeting. The Bloomberg Dollar Spot Index declined 0.1% after rising 1% in the last three days. The blackout...
Gold headed for a weekly loss, after solid US data in recent days reinforced the case for the Federal Reserve to keep rates elevated, denting the precious metal’s allure. A higher-for-longer rate environment is now looking increasingly likely after applications for US unemployment benefits fell to the lowest level...
Oil headed for a weekly gain after OPEC+ leaders Saudi Arabia and Russia extended supply cuts through year-end and US inventories declined. West Texas Intermediate was steady near $87 a barrel, after retreating by 0.8% on Thursday as futures strayed into overbought territory. For the week, the US...
Oil edged lower after capping the longest winning run in more than four years as OPEC+ leaders extended supply cuts to the end of 2023. West Texas Intermediate fell toward $87 a barrel after posting nine straight daily gains, the longest stretch of advances since January 2019. That...
A buoyant dollar pushed the yen to a 10-month trough on Thursday and kept the euro and sterling pinned near three-month lows, as investors placed their faith in a still-resilient U.S. economy even amid a dour global growth outlook. The greenback scaled a fresh top of...
Oil held gains after capping the longest winning run in more than four years as OPEC+ leaders extended supply cuts to the end of 2023 and industry estimates pointed to another draw in US crude inventories. West Texas Intermediate edged higher toward $88 a barrel after posting nine...
Gold steadied after dropping Wednesday as stronger-than-expected US economic data triggered bets that the Federal Reserve could hike interest rates again this year. The market-implied odds of a quarter-point Fed rate increase in November climbed to more than 50% after US service-sector activity rose sharply. At the start of...
Oil held near the highest since November after OPEC+ leaders Saudi Arabia and Russia announced that they would extend supply curbs through the end of the year, tightening the global market. West Texas Intermediate traded near $87 a barrel after the twin announcements on Tuesday, which drove a...
Gold prices extended losses to hit their lowest level in a week on Wednesday as U.S. Treasury yields and the dollar strengthened on expectations that interest rates are likely to remain high. Spot gold was subdued at $1,925.70 per ounce by 0313 GMT, after posting its...
Gold steadied after dropping the most in more than a month on Tuesday as the dollar and Treasury yields jumped on bets US interest rates will stay higher for longer. Borrowing costs look set to remain elevated through the first quarter of next year whether or not the Federal...