Oil held its largest gain in more than a week on rising tensions in the Middle East, with a fresh attack on shipping in the Red Sea prompting vessels to avoid the key shipping route. West Texas Intermediate traded above $75 a barrel after rising by 2.7% on Tuesday, with global benchmark Brent near $81. The…
Asia-Pacific stocks bounced Wednesday, with Australia stocks hitting a near two-year high, as more markets return from a Christmas break. Australia’s S&P/ASX 200 index gained 0.8% to hit its highest level since late April 2022, as trading resumed for the week. The index is eying yearly gains of over 7%. Aussie stocks have been buoyed…
The dollar was trying to find a floor on Tuesday in holiday-thinned trade, pressured by signs that inflation in the world’s largest economy is cooling that will likely give the Federal Reserve room to ease interest rates next year. The yen meanwhile steadied near its recent five-month peak on the prospect that the Bank of…
The dollar rose against most of its Group-of-10 peers as traders awaited the release of a key inflation gauge that may help shape the outlook for US monetary policy. USD/JPY climbed from an intraday low of 141.87 on fix-related demand, according to a trader. Most currencies traded in a narrow range heading into the year-end…
The yen stood firm on Monday as the Bank of Japan (BOJ) kicked off a two-day meeting that could be crucial in determining the timing of the end of the central bank’s ultra-loose stance on interest rates. The recent burst of risk appetite has given the Australian and New Zealand dollars in particular a leg…
China industrial production beat expectations last month, though its boost from favorable comparisons to a Covid-hit period in 2022 means that result is unlikely to quell concerns about growth next year. Industrial output rose 6.6% last month from a year earlier, the National Bureau of Statistics said Friday, versus a median estimate for a 5.7% increase. Retail…
