The Australian dollar (AUD) moved steadily against the US dollar (USD) on Thursday following the People's Bank of China (PBOC) interest rate decision. The Chinese central bank held the Loan Prime Rate (LPR) at 3.00% for one-year and 3.50% for five-year terms. As China is Australia's main trading partner, this decision influenced market perceptions of Australia's economic outlook and the movement of the AUD. Domestically, comments from RBA Assistant Governor Sarah Hunter added some color to the market. She emphasized that excessively strong economic growth has the potential to trigger...
Gold prices fell more than 1% on Thursday (November 20th), pressured by a stronger dollar and fading expectations of a Federal Reserve interest rate cut in December, as investors awaited the delayed US employment report later in the day. Spot gold fell 0.4% to $4,066.32 an ounce, as of 09:20 GMT, after falling more than 1% earlier in the session. US gold futures for December delivery fell 0.4% to $4,065.30 an ounce. The dollar index strengthened near a two-week high, making gold more expensive for holders of other currencies. "The strengthening dollar is weighing on gold, but these price...
Oil prices edged higher as investors weighed the impact of U.S. sanctions on Russia's Rosneft PJSC and Lukoil PJSC, which will take effect on Friday, while the European Union explored further measures to pressure Moscow. Brent traded near $64 a barrel after falling more than 2% on Wednesday, its biggest drop in a week, and West Texas Intermediate neared $60. U.S. sanctions on the Russian oil giant have disrupted crude flows, particularly to India, and forced Lukoil to seek buyers for its international assets. Oil prices remained near annual losses on expectations of a surplus as OPEC+ and...