Oil declined after rallying almost 10% over the past two weeks, with technical indicators suggesting recent gains may have been overdone. West Texas Intermediate traded near $87 a barrel after a 2.3% advance last week. The 9-day relative strength index for WTI has been above a level signaling...
Most Asia-Pacific markets were mostly lower at the start of a week where key economic data from major economies will take center stage. On Tuesday, India will release its inflation and industrial output figures for August, while China will announce its industrial output, retail sales, and...
The U.S. dollar edged lower in early European trade Friday, but remains on track for an eighth straight winning week as U.S. economic resilience brings further Federal Reserve rate hikes into question. At 03:10 ET (07:10 GMT), the Dollar Index, which tracks the greenback against a...
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...
U.S. stocks finished mostly lower on Thursday with the Nasdaq Composite leading the way down as investor sentiment cratered in the face of concerns that the Federal Reserve may keep interest rates higher for longer. The technology-heavy Nasdaq fell 123 points, or 0.9%, to end at...
Japan’s economy expanded at a slower pace than initially estimated as businesses cut back investment in plants and equipment and consumers spent less, an outcome that points to the fragility of the growth achieved last quarter. Gross domestic product grew at an annualized 4.8% from the previous three...
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...