Oil prices rose on Monday in early trade, paring last week's losses, after OPEC+ agreed over the weekend to raise output further but at a slower pace from October due to an anticipated weakening of global demand. Brent crude gained 23 cents, or 0.4%, to $65.73 a barrel by 2213 GMT, while U.S. West Texas Intermediate crude climbed 21 cents, or 0.3%, to $62.08 a barrel. Both benchmarks fell over 2% on Friday as a weak U.S. jobs report dimmed the outlook for energy demand. They lost more than 3% last week. OPEC+, which includes the Organization of the Petroleum Exporting Countries plus...
Gold edges higher in early Asian trade. An unexpectedly weak U.S. jobs report raised expectations of a Fed rate cut later this month, supporting gold, the ANZ Research team writes in a note. Investor demand has also been supported by worries of the Fed losing its independence as Trump continues to interfere with governor appointments, they add. Spot gold is 0.2% higher at $3,593.41/oz. Source: Bloomberg
The yen fell broadly on Monday following news that Japanese Prime Minister Shigeru Ishiba had resigned, while the dollar was nursing losses after tumbling on a weak U.S. jobs report that cemented expectations for a Federal Reserve rate cut this month. Ishiba on Sunday announced his resignation, ushering in a potentially lengthy period of policy uncertainty at a shaky moment for the world's fourth-largest economy. The yen slumped in response in early Asia trade on Monday, falling 0.7% against the dollar to 148.43. The Japanese currency similarly slid more than 0.5% against the euro and...