The Australian dollar (AUD) edged up to around $0.660 and briefly touched a three-week high on Wednesday. The reason is simple: the market is now almost certain that the Reserve Bank of Australia (RBA) will cut interest rates next week. Why? Because inflation is still hot. The latest data shows that Australia’s annual inflation rate…
The crypto market moved lower on Tuesday. Bitcoin slumped to around $112,000 after experiencing a sell-off earlier in the month, while Ether also fell by around 5% to around $3,900, and most major altcoins also fell, pushing the total crypto market capitalization down by around 1%. Market participants appeared cautious ahead of the Federal Reserve’s…
Oil prices settled marginally lower on Monday as OPEC’s plans to increase oil output once again outweighed hopes of a trade deal framework between the U.S. and China and renewed U.S. sanctions on Russia. Brent crude futures were down about 32 cents, or nearly 0.5%, at $65.62 a barrel, while U.S. West Texas Intermediate crude…
Silver prices fell to the $46 per ounce area on Monday, continuing last week’s decline. Selling pressure emerged as global markets entered a “risk-on” mode after the US and China reached an initial trade agreement framework. Negotiators from Washington and Beijing agreed to hold off on US tariff increases and suspend controls on rare earth…
Gold prices are still hovering around $4,000 per ounce after a sharp drop of more than 3%. Selling pressure is emerging as US-China relations begin to thaw. Negotiators from Washington and Beijing say they have reached agreement on several major issues, such as tariffs and export controls. If trade tensions ease, the market perceives global…
Japanese stocks fell slightly after setting a new record the previous day, as investors began to take profits. The Nikkei 225 weakened around 0.3% to 50,383, while the Topix fell 0.5% to 3,308, dragged down by electronics and service sector stocks. After the euphoria surrounding the Nikkei breaking through 50,000 for the first time, market…
