The Japanese yen held around 154.3 per dollar on Friday after gaining some ground in the previous session, as investors digested the latest economic releases. Data showed that Japan's headline inflation rate slowed to a nine-month low of 2.3% in October, while the core inflation rate also dropped to 2.3%, a six-month low, slightly above the forecast of 2.2%. A separate report indicated that manufacturing activity in Japan contracted more than expected in November, although services activity expanded. Meanwhile, Bank of Japan Governor Kazuo Ueda signaled the possibility of another rate hike...
Oil prices rose on Friday after Russia said it had fired a ballistic missile at Ukraine and warned of a broadening conflict, raising the prospect of tightening crude supplies. Brent crude futures gained 14 cents, or 0.2%, to $74.37 a barrel by 0007 GMT. U.S. West Texas Intermediate crude futures rose 17 cents, or 0.2%, to $70.27 per barrel. Russian President Vladimir Putin said on Thursday that the Ukraine war was growing into a global conflict after the U.S. and Britain allowed Ukraine to strike Russia with their weapons. Putin, who said Russia responded to the use of U.S. andBritish...
Gold prices were headed for their best week in a year on Friday, supported by safe-haven demand amid further escalations in the Russia-Ukraine war, while investors assessed the outlook for U.S. interest rate cuts. Spot gold rose 0.7% to $2,688.70 per ounce as of 0306 GMT. Bullion was up nearly 5% for the week so far, its best week since early October 2023. U.S. gold futures gained 0.6% to $2,691.00. Meanwhile, the Chicago Federal Reserve President on Thursday reiterated his support for further U.S. interest rate cuts and his openness to slowing them down. Markets are pricing in a 55.9%...