Oil prices settled higher on Wednesday by more than $1 a barrel as investors worried about possible supply disruptions after Poland downed drones in its airspace and the U.S. pushed for new sanctions on buyers of Russian oil the day after an Israeli attack in Qatar, but a report showing swelling U.S. supplies capped gains. Brent crude futures settled up $1.10, or 1.7%, at $67.49 a barrel. U.S. West Texas Intermediate crude futures rose $1.04, or 1.7%, to settle at $63.67 a barrel. Geopolitical tensions mounted when Poland shot down drones over its airspace during a widespread Russian...
The Swiss Franc (CHF) strengthens modestly against the US Dollar (USD) on Wednesday, with USD/CHF trimming intraday gains as the Greenback softens after softer-than-expected US Producer Price Index (PPI) figures further cemented market expectations that the Federal Reserve (Fed) will cut interest rates at its monetary policy meeting next week. At the time of writing, the USD/CHF pair is trading around 0.7973 during the American session, easing from an intraday high of 0.7991 as buyers failed to secure a decisive move above the psychological 0.8000 mark. The loss of upward momentum reflects...
Gold price surges on Wednesday, up by over 0.60%, folllowing US inflation data, which increased speculation that the Federal Reserve (Fed) will resume its easing cycle at the upcoming September meeting. At the time of writing, XAU/USD trades at $3,646, shy of the record high of $3,674. Bullion up 0.60% fueled by Fed cut bets, Middle East tensions and Russian drone incursion into Poland's airspace The Producer Price Index (PPI) in August revealed that the disinflation process resumed in August, as businesses seem to absorb some of the US President Donald Trump's tariffs, in exchange for...