Oil prices have remained bullish for the past two days. WTI is trading near $60 per barrel, while Brent is above $63 after gaining 1.2% on Thursday. Market sentiment has been largely influenced by developments in ceasefire talks in Ukraine, with Ukrainian negotiators set to attend a new round of discussions in Florida. However, Russian President Vladimir Putin has made it clear that there are several points in the US peace plan that he cannot accept. The market is now focused on whether these talks will lead to the lifting of sanctions on Russia and increased oil exports from the country....
Gold prices were flat at around $4,205 per troy ounce at the start of Friday's Asian session. Rising US government bond yields and still-strong employment data prevented gold from rising further. Many market participants opted for a wait-and-see approach ahead of the release of key US inflation data, the September PCE Price Index, scheduled for release today. This data is considered key to determining the Fed's future policy direction. Higher bond yields and strong employment data typically support a stronger US dollar, which tends to pressure dollar-denominated commodity prices, including...
The AUD/USD currency pair is currently in a bullish consolidation phase, a brief pause in its uptrend, and is hovering around the 0.6600 level during the Asian session on Friday (December 5th). This level is just below the nearly two-month high touched the previous day. Fundamentally, the path of best practice for AUD/USD remains upward, but many market participants are choosing to hold off while awaiting the release of key US inflation data before extending long positions formed over the past two weeks. Today's main market focus is the release of the US Core PCE Price Index for October,...