Oil prices pushed higher for a second day on Wednesday, rising by about 2%, buoyed by hopes of progress of a U.S. trade deal with China and India. Brent crude futures rose 96 cents, or 1.6%, to $62.28 a barrel as of 0924 GMT, while U.S. West Texas Intermediate crude futures climbed 95 cents, or 1.7%, to $58.19. "Oil prices climbed after reports suggested the U.S. and India are close to finalising a trade deal that could see India gradually cut imports of Russian crude, potentially lifting demand for other grades," MUFG analyst Soojin Kim said. U.S. President Donald Trump said he spoke...
US Dollar (USD) consolidates within a narrow range as markets await September CPI and October PMI, while the ongoing US government shutdown adds pressure on growth and the Fed hints at year-end rate cuts, BBH FX analysts report. US government shutdown adds downside risks to growth"USD is building on yesterday's gains but continues to trade within a tight range in the absence of major US data releases. Indeed, FX volatility is well below its long-term average and near historic lows. We expect a bit more fireworks on Friday, with the release of the US September CPI and October PMI...
Gold prices fell on Wednesday to a nearly two-week low, following their sharpest one-day decline in five years in the previous session, as investors booked profits ahead of key US inflation data due later this week. Spot gold fell 2% to $4,038.89 an ounce, as of 11:19 a.m. ET (1519 GMT), after rising as high as $4,161.17 earlier in the session. US gold futures for December delivery fell 1.3% to $4,055.40 an ounce. Gold prices have hit multiple record highs and are up 54% this year, driven by geopolitical tensions, economic uncertainty, expectations of a US interest rate cut, and strong...