Japanese stocks rallied sharply on Thursday, snapping a four-day downtrend, after Nvidia’s strong earnings report revived interest in artificial intelligence (AI) stocks. The Nikkei 225 index briefly rose as much as 3.7% to around 50,343.25, its biggest daily gain since early October. The broader Topix index also rallied as much as 2.3% early in the…
Oil prices remained stuck near their biggest weekly drop after data showed US fuel inventories rising. Investors are also monitoring the impact of sanctions against two Russian oil giants, which will take effect on Friday. The January WTI contract traded slightly above US$59 per barrel after falling more than 2% on Wednesday, while Brent closed…
Silver steadied around $51 as markets digested the Fed’s October minutes which revealed a divided committee. Many officials still expect cuts at some point but a large group signalled that a December move is not certain, and that pullback in near term easing expectations strengthened the dollar and removed some momentum from the metals rally….
Gold prices fluctuated wildly in Wednesday’s Asian session, with XAU/USD now hovering around US$4,061 per troy ounce after previously strengthening. This rapid ups and downswing occurred as the market was still digesting the Fed’s meeting minutes and preparing for tonight’s release of US employment data (NFP). One of the main drivers of volatility was profit-taking….
