Oil prices rose on Monday as weaker-than-expected U.S. inflation data revived hopes for further policy easing, although the prospect of a supply surplus next year weighed on the market. Brent crude was up 36 cents, or 0.5%, at $73.30 a barrel by 0421 GMT. U.S. West Texas Intermediate crude was up 39 cents, or 0.6%, at $69.85 a barrel. "Risk assets, including U.S. equities and crude, have started the week on a firmer footing," said IG market analyst Tony Sycamore, adding that cooler inflation data helped ease concerns after the Federal Reserve's aggressive interest rate cuts. "I think the...
Gold prices continued to recover from a one-month low touched last Thursday and gained positive traction for the third straight day at the start of a new week. The commodity maintained its positive bias through the first half of the European session and was supported by some safe-haven inflows – supported by geopolitical risks and trade war fears. That said, the positive risk tone acted as a headwind for the precious metal. Meanwhile, the Federal Reserve's (Fed) hawkish signals kept the US Treasury bond yields buoyant and helped the US Dollar (USD) in attracting some dip-buying on Monday....
The U.S. dollar rose on Monday, recovering from a sharp drop late last week on signs of easing inflation pressures, while the euro weakened after dovish comments from ECB chief Christine Lagarde. At 5 a.m. ET (10 a.m. GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.4% higher at 107.750, having fallen sharply from a two-year high on Friday. The dollar rose on Monday after falling sharply on Friday as the Federal Reserve's preferred inflation gauge showed modest monthly price increases, with the underlying inflation measure posting...
The British Pound resumed its slide against its American rival in the American session on Monday, as the US Dollar (USD) found near-term demand in a risk-averse environment. The GBP/USD pair fell to an intraday low of 1.2473 following the release of mixed United Kingdom (UK) data. The UK reported that the Q3 Current Account posted a deficit of £ 18.099 billion, improving from the £-24.002 billion posted in the previous quarter. The Q3 Gross Domestic Product (GDP) suffered downward revisions, with the annual reading confirmed at 0.9%, below the 1% expected. The UK economy did not grow in...
Gold eases as U.S. dollar, yields rise in thin holiday tradingGold prices edged lower in a subdued holiday-season trading on Monday, weighed down by a robust dollar and high U.S. Treasury yields as investors awaited clearer signals on the Federal Reserve's monetary policy for 2025. Spot gold was down 0.3% at $2,612.58 per ounce. U.S. gold futures eased 0.7% to $2,627.60. The dollar index was up 0.6% against its rivals, hovering around an over two-year high, reducing gold's appeal for holders of other currencies, while the benchmark U.S. 10-year yield also gained. "The market continues to...