Oil was largely steady in choppy trade on Thursday with global benchmark Brent still below $70 a barrel under pressure from tariffs between the U.S., Canada, and China, and OPEC+ plans to raise output. Brent futures were up 8 cents, or 0.1%, at $69.38 a barrel by 1:40 p.m. ET (1840 GMT), while U.S. West Texas Intermediate crude futures eased 6 cents, or 0.1%, to $66.24. Brent hit $68.33 on Wednesday, its weakest since December 2021, after a larger-than-expected build in U.S. crude inventories added to the bearish news earlier in the week of OPEC+'s hike in output quotas for the first time...
Gold halted its three-day rally due to investors booking profits ahead of the crucial US Nonfarm Payrolls report. The rise of US Treasury bond yields also made holding the non-yielding metal less appealing. At the time of writing, the XAU/USD trades at $2,918, virtually unchanged. The yellow metal consolidated above the $2,900 figure, capped by the earlier rise of the US 10-year Treasury bond yield to a one-week high, before paring those gains to stand at 4.286%. Uncertainty surrounds the financial markets, spurred by controversial trade policies proposed by the President of the United...
EUR/USD tried to stretch for a fourth straight day of gains, but markets are drawing into the middle ahead of Friday's key US Nonfarm Payrolls (NFP) print. The Euro saw a sharp rejection from the 1.0850 level on Thursday, ending Fiber's three-day win streak. EUR/USD has had a stellar week, climbing 4.6% bottom-to-top from Monday's opening bids. Forex Today: The US Nonfarm Payrolls are coming! FX markets have sharply rebalanced after rate cut expectations took a tumble this week. According to rate markets, the European Central Bank (ECB) is broadly expected to only cut interest rates one...