The dollar edged up from a two-week low against its major peers in holiday-thinned trading on Thursday, though the yen headed for its strongest week in nearly three months on growing bets that Japan will hike rates in December. The yen slipped half a percent to 151.93 per dollar ,but with its 1.9% gain this week the currency has recovered losses suffered since the U.S. election. Markets see about a 65% chance the Bank of Japan will hike rates next month. The dollar index was marginally higher at 106.30 after suffering its steepest fall in four months that pushed it as low as 105.85 in the...
Gold futures rise, finding some support after a volatile month. Futures are up 0.3% at $2,646.60 a troy ounce. The precious metal has gained as the U.S. Federal Reserve appears likely to continue interest-rate cuts at its December meeting, ING analysts write. The CME's Fed watch tool shows the market is currently pricing in a 68% chance of a 25-basis-point cut, up from around 56% a week ago. Lower interest rates typically boost the appeal of non-interest bearing bullion. On the other hand, Wednesday's inflation numbers were on the higher side, which could weaken the case for further rate...
Crude Oil falling flat, and is returning less than 0.50% profit on this Thursday after headlines that Israel has already broken the ceasefire deal between in the Gaza region, Bloomberg reports. Meanwhile, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) have confirmed they will postpone its upcoming Output Policy Meeting decision from Sunday to December 5. The conglomerate of Oil producers and exporters is again facing an existential crisis, with a slowdown in global demand with more non-OPEC supply to be released to markets taking place. The US Dollar Index...