Gold slipped as markets considered hawkish commentary from the Federal Reserve, after US policymakers signaled interest rates will remain higher for longer. The Federal Open Market Committee on Wednesday held its target range at 5.25% to 5.5%, while updated quarterly projections showed 12 of 19 officials favored another rate...
Oil fell after the Federal Reserve signaled that at least one more interest-rate hike is possible this year in its fight to subdue stubborn inflation, overshadowing signs of a tighter physical crude market. West Texas Intermediate declined below $89 a barrel, dropping for a third day in the...
Britain’s inflation rate fell unexpectedly despite a surge in fuel prices, easing pressure for further interest-rate increases from the Bank of England. The Consumer Prices Index rose 6.7% from a year ago in August, less than the 6.8% gain the month before, the Office for National Statistics said...
The dollar remained firm on Wednesday ahead of a much-anticipated rate decision by the Federal Reserve later in the day, while sterling slid on increased bets the Bank of England (BoE) will pause its historic run of interest rate hikes. The U.S. dollar index, which measures...
Gold and copper were steady ahead of a Federal Reserve policy decision amid expectations that US interest rates will stay higher for longer. While Chair Jerome Powell and his colleagues are expected to hold borrowing costs steady later Wednesday in a bid to curb inflation, traders are focusing on...
Oil prices rose in early trade on Tuesday for the fourth consecutive session, as weak shale output in the U.S. spurred further concerns about a supply deficit stemming from extended production cuts by Saudi Arabia and Russia. U.S. West Texas Intermediate crude futures rose 90 cents,...
Gold was steady after three days of gains as investors wait for interest rate decisions by major central banks. Monetary policy will be determined at key meetings across half of the Group of 20, with the US Federal Reserve paving the way from Wednesday. Rates across developed economies are...
Australia’s central bank considered the case for raising interest rates this month, but decided to leave them unchanged for a third straight meeting, underscoring a higher hurdle to further policy tightening. The Reserve Bank opted to stand pat amid concerns its rapid-fire hikes since May 2022...
Hong Kong stocks edged up in the opening minutes of Tuesday's trade, with investors biding their time ahead of the Federal Reserve's highly anticipated policy meeting later in the week. The Hang Seng Index gained 0.06 percent, or 11.52 points, to 17,942.07. The Shanghai Composite Index dipped...
The euro clung to gains on Tuesday following hawkish comments from European Central Bank (ECB) policymakers, while the yen languished near a 10-month low ahead of a key rate decision from the Bank of Japan (BOJ) later in the week. Currency moves were subdued in early...