The U.S. dollar eased slightly from a recent one-year high at the start of a week that was light on major economic data but included comments from a series of Fed speakers. At 4:50 AM ET (09:50 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.1% lower at 106.497, just below a one-year high of 106.72. The index gained 1.6% for the week, marking its sixth winning week in the past seven. Dollar holds its strength The dollar has benefited from a structural bullish shift since the election of Donald Trump toward the start of the month,...
Oil edged higher but remained close to its lowest in almost seven weeks amid concerns about excess supply and weak Chinese demand. Global benchmark Brent inched up, after earlier dipping to its lowest level since the start of October, though it continued to trade below $72 a barrel following its tumble last week. A slower than usual selling pace for Angolan crude was the latest signal of weak Chinese demand, and the International Energy Agency has warned that global oil markets face a sizeable surplus next year. Oil has swung between gains and losses in...
Silver prices climbed above $30.50 per ounce on Monday, recovering from two-month lows as the dollar rally stalled and investors reassessed the outlook for Federal Reserve monetary policy. The dollar faced a wave of profit-taking following its recent rally which was driven by expectations of fewer Fed rate cuts and optimism about US economic outperformance under the incoming Trump administration. Investors are now waiting for more comments from Fed officials this week for further guidance on the US interest rate path. Markets are also focused on China's upcoming LPR decision, with hopes that...