Oil prices steadied on Thursday a day after a steep decline triggered by signs that Saudi Arabia, the world's biggest crude exporter, may raise output and data showing a contraction in the economy of the U.S., the world's biggest oil consumer. Brent crude futures fell 6 cents, or 0.1%, to $61 a barrel as at 0730 GMT. U.S. West Texas Intermediate crude futures fell 12 cents or 0.2%, to $58.09. WTI closed at its lowest since March 2021 on Wednesday. "In the near term, the path of least resistance remains tilted to the downside," said Sugandha Sachdeva, founder of SS WealthStreet, a New...
Silver prices fell over 1% toward $32 per ounce on Thursday, marking a third consecutive session of decline, as easing global trade tensions dampened demand for safe-haven assets. Sentiment shifted after US President Donald Trump signaled potential trade agreements with India, Japan, and South Korea, and voiced optimism about a deal with China. At the same time, silver's industrial demand outlook came under pressure amid weaker economic data from major economies. The US economy unexpectedly contracted by 0.3% on an annualized basis in the first quarter—its first negative growth in three...
A sliding yen boosted the dollar on Thursday as the Bank of Japan lowered growth forecasts in light of U.S. tariffs and left rates on hold, while investors watched for signs of the trade war cooling and awaited U.S. labour market data. The yen dropped by as much as 1.1% to 144.74 per dollar, its weakest since April 10. It was last at 144.33 per dollar. The central bank's hold on interest rates was unanimous and anticipated, but investors saw the downgraded outlook as reducing the likelihood of future hikes. "It was no surprise that they revised both the growth and inflation down but both...