Oil edged lower to head for a monthly loss, as investors weighed concerns about a looming glut along with geopolitical tensions, including US-led efforts to end the war in Ukraine. West Texas Intermediate fell toward $64 a barrel, with the US benchmark more than 7% lower in August, while Brent posted a modest gain on Thursday. Oil prices have lost ground this month amid concerns that global supplies will run ahead of demand in the coming quarters, boosting stockpiles. Traders are also focused on Ukraine, and crude supplies from OPEC+ member Russia. US President Donald Trump...
The USD/JPY pair loses ground to near 146.85 during the early Asian session on Friday. The Japanese Yen (JPY) edges higher against the US Dollar (USD) after the release of Japan's Tokyo August Consumer Price Index report. The attention will shift to the US July Personal Consumption Expenditures (PCE) Price Index report, which is due later on Friday. Data released by the Statistics Bureau of Japan on Friday showed that the headline Tokyo CPI rose 2.6% YoY in August versus 2.9% prior. Meanwhile, Tokyo's core CPI inflation eased to 2.5% YoY in August from 2.9% in July, matching market...
Gold prices are flat in early Asian trade. Geopolitical tensions, renewed trade frictions and dented global sentiment have kept investors leaning on the yellow metal as a safe haven, Phillip Nova analyst Priyanka Sachdeva says in a research note. While profit-taking could cap gains for gold prices after the recent rally, broader macro drivers are still supportive, she notes. Gold prices will be shaped by incoming U.S. data such as the July PCE print, the analyst says, as they could cement expectations of a Fed rate cut in September. Spot gold is flat at $3,415.35/ oz. Source: Bloomberg