The dollar traded slightly lower on Monday as traders awaited several Federal Reserve speakers and key data later this week. The Canadian dollar lagged behind other currencies. The Bloomberg Dollar Spot Index fell about 0.1%. This was the first session of declines after three days of gains. Federal Reserve Governor Stephen Miran said interest rates are too high and proposed aggressive rate cuts in the coming months to protect the labor market. "The FOMC may have injected more two-way volatility into currency markets," Vasileios Gkionakis, senior economist and strategist at Aviva...
Gold surged to an all-time high on Monday (September 22nd), driven by growing expectations of further US interest rate cuts and continued safe-haven demand amid political uncertainty. Investors are eyeing an upcoming Federal Reserve speech and key inflation data for the latest policy signals. Spot gold prices rose 1.4% to a new record high of $3,735.40 per ounce, as of 11:51 a.m. ET (1551 GMT). US gold futures for December delivery rose 1.7% to $3,768.70. "Safe-haven demand continues to flow amidst still-uncertain geopolitical issues, including the Russia-Ukraine war. The Fed's rate cut...
Oil prices edged lower on Monday (September 22nd) as oversupply concerns outweighed geopolitical tensions in Russia and the Middle East. Brent crude futures fell 24 cents, or 0.4%, to $66.44 a barrel at 11:01 a.m. ET (15:01 GMT). Brent has traded between $65.50 and $69 a barrel since early August. The U.S. West Texas Intermediate crude contract for October, which expires on Monday, was at $62.49 a barrel, down 19 cents, or 0.3%. The more actively traded second-month contract fell 26 cents, or 0.5%, to $62.12. "Traders are again focusing on the possibility of an imminent oversupply in the...
Gold rose nearly 2% to an all-time high on Monday (September 22nd), boosted by growing expectations of further US interest rate cuts and continued demand for safe-haven assets amid political uncertainty. Investors are eyeing an upcoming Federal Reserve speech and key inflation data for the latest policy signals. Spot gold rose 1.7% to a new record high of $3,747.08 an ounce, as of 2:06 p.m. ET (1806 GMT). US gold futures for December delivery closed 1.9% higher at $3,775.10. The Russian Defense Ministry said its troops had captured the Kalynivske settlement in the Dnipropetrovsk region of...
Oil prices closed slightly lower on Monday (September 22nd) as concerns about oversupply outweighed geopolitical tensions in Russia and the Middle East. Brent crude futures closed 11 cents, or 0.2%, lower at $66.57 a barrel. The global benchmark has traded between $65.50 and $69 since early August. U.S. West Texas Intermediate (WTI) crude for October, which expires on Monday, closed down 4 cents, or 0.1%, at $62.64 a barrel. The more actively traded second-month contract fell 12 cents, or 0.2%, to $62.28. "Traders are again focusing on the possibility of an imminent oversupply in the...