Oil prices climbed on Monday as traders anticipated more U.S. sanctions and Ukrainian attacks targeting energy infrastructure in Russia could disrupt supplies. Brent crude futures were up $1.20, or 1.77%, to $68.93 by 1:41 p.m. EDT (1741 GMT), and West Texas Intermediate crude futures gained $1.29 cents, or 2.03%, to $64.95. "There seems to be a sense the peace talks are dragging on," said Phil Flynn, senior analyst with Price Futures Group. "There could be sanctions on Russia if these talks don't go well," Flynn said. U.S. President Donald Trump said again on Friday that he would impose...
The Australian Dollar (AUD) is holding firm against the US Dollar (USD) on Monday, with AUD/USD hovering close to the 0.6500 mark. The pair remains resilient despite a modest rebound in the Greenback, which is stabilizing after a sharp drop on Friday. At the time of writing, the pair is trading around 0.6486. Last week, the Aussie gained ground following Federal Reserve (Fed) Chair Jerome Powell's dovish tone at the Jackson Hole Symposium, which triggered a broad US Dollar selloff and restored expectations for a possible September rate cut. The Reserve Bank of Australia (RBA) cut the cash...
Gold (XAU/USD) kicks off the week on a softer footing after touching a two-week high on Friday, following Federal Reserve (Fed) Chair Jerome Powell's dovish remarks at the Jackson Hole Symposium that fueled a broad rally in precious metals. At the time of writing, the metal is trimming earlier losses and edging higher during the American session, consolidating near recent peaks around $3,370. Powell gave his final annual speech at the Jackson Hole Symposium last Friday, where he emphasized the Fed's cautious approach to monetary policy in a shifting economic environment. "The stability of...
Gold edged lower on Monday morning as the dollar and yields strengthened after Friday's decline after Federal Reserve Chairman Jerome Powell signaled an interest rate cut was imminent. Gold for December delivery last traded down US$5.70 at US$3,412.80 per ounce. The price of the precious metal rose sharply on Friday following Powell's speech at the Fed's annual Economic Policy Symposium in Jackson Hole, Wyoming. While he gave no indication that a rate cut would be made at the conclusion of the Fed's next policy committee meeting on September 17, he did signal that changes to the bank's...