The Japanese yen remained largely unchanged around 157 per dollar on Thursday, amid thin trading volumes as Japan observed the holiday season. Investors continued to digest the Bank of Japan's interest rate outlook, following an uptick in both headline and core inflation in November. Minutes from the BoJ's December meeting revealed that policymakers had debated the possibility of a near-term rate hike, with some members suggesting that conditions were starting to align for such a move. Meanwhile, traders are keeping a close eye on potential Japanese government intervention, after Finance...
Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China's economy and fuel demand following a pledge by President Xi Jinping to promote growth. Brent crude futures rose 17 cents, or 0.06%, to $74.82 a barrel by 0547 GMT after settling up 65 cents on Tuesday, the last trading day for 2024. U.S. West Texas Intermediate crude futures gained 19 cents, or 0.26%, to $71.91 a barrel after closing 73 cents higher in the previous session. China's factory activity grew in December, according to the private-sector...
Oil steadied in the first session of the new year as an industry report signaled US crude stockpiles continued to shrink. Brent traded below $75 a barrel after giving up an earlier gain, and West Texas Intermediate was near $72. A report from the American Petroleum Institute showed inventories fell by 1.4 million barrels last week, which would be a sixth straight draw if confirmed by government data later Thursday. Oil has been stuck in a narrow range since mid-October, with Brent posting a modest annual decline and WTI ending 2024 little changed. Investors...