Oil opened the new quarter on the front foot, edging higher on widespread bets that global demand is running ahead of supply. West Texas Intermediate advanced above $91 a barrel after soaring 29% in the three months to September, the biggest third-quarter gain in almost two decades. Holidays in many Asia-Pacific nations on Monday, including China and…
The Australian Dollar (AUD) snaps the winning streak on the third successive day on Monday. The AUD/USD pair received upward support, primarily supported by the upbeat Chinese PMI data released over the weekend. However, the US Dollar (USD) continues to demonstrate resilience after the moderate economic data released on Friday. Australia’s TD Securities Inflation (YoY)…
Gold fell for a sixth straight day, the longest losing run in more than 13 months, on the prospect of a higher-for-longer global interest-rate scenario. Bullion fell 4% last week as a drop below $1,900 an ounce triggered outflows from exchange-traded funds, with investors cutting bullish gold bets to a five-week low on Friday. A surge in bond yields from…
Japanese equities were mixed as investors await the Friday release of the Fed’s preferred measure of inflation — the personal consumption expenditures price index. Topix Index fell 0.2% to 2,340.90 as of 9:06 a.m. Tokyo time Nikkei advanced 0.1% to 31,920.22 Mitsubishi UFJ Financial Group contributed the most to the Topix’s decline, decreasing 1.5%. Out of 2,156…
Oil was steady near $92 a barrel after dropping the most in eight weeks in the previous session on technical resistance and speculation the Saudis will start restoring output if prices get too high. West Texas Intermediate was subdued after a rollercoaster session on Thursday in which it rose above $95 a barrel at one point but…
Gold headed for its biggest weekly decline in eight months, with the higher-for-longer interest rate environment taking its toll on the precious metal. Bullion was steady on Friday after declining for the previous four sessions to below the $1,870-an-ounce mark that analysts had flagged as an important technical level. Commentary by the Federal Reserve indicating it…
