Gold traded higher mid-afternoon on Wednesday as the dollar and yields fell after a U.S. inflation measure rose more than expected last month. Gold for February delivery was last seen up US$35.80 to US$2,718.10 per ounce, the highest since Dec.11. The U.S. Bureau of Labor Statistics said the Consumer Price Index (CPI) rose by 0.4% in December, up from 0.3% in November and ahead of the consensus estimate for a rise of 0.3%, according to FactSet. Core CPI, excluding food and energy, rose 3.2% annualized, under the consensus outlook for a 3.3% rise. Though the Federal Reserve is still widely...
Oil prices rose more than 2% on Wednesday, supported by a large draw in U.S. crude stockpiles and potential supply disruptions caused by new U.S. sanctions on Russia, while a Gaza ceasefire deal limited gains. Brent crude futures settled $2.11, or 2.64%, higher at $82.03 a barrel, the highest since August 2024. U.S. West Texas Intermediate crude (WTI) settled up $2.54, or 3.28%, at $80.04 a barrel, the highest since July. In post settlement trade, Brent rose to the highest since July and WTI gained more than $3 a barrel. U.S. crude oil inventories fell last week to their lowest since...
The EUR/USD pair held steady around 1.0295 during the early Asian session on Thursday (16/1). A cooler-than-expected US Consumer Price Index (CPI) inflation data for December raised bets that the US Federal Reserve (Fed) could cut interest rates twice this year, weighing on the greenback. However, growing concerns over the Eurozone economic growth may cap gains for the major currency pair. The US dollar (USD) fell after the US core CPI data came in weaker than expected, fueling expectations that the Fed's easing cycle may not be over yet. Markets now expect the US central bank to deliver 40...