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Oil steadies near $110/bbl; strong dollar offsets supply worry

    Oil prices steadied on Thursday, under pressure from a stronger dollar and a drop in global stock markets while supported by supply worries after the European Union (EU) laid out plans for new sanctions against Russia including an embargo on crude Brent futures added 76 cents to settle at $110.90 per barrel. U.S. West Texas …

Oil steadies near $110/bbl; strong dollar offsets supply worry قراءة المزيد »

Gold retreats post Fed-led boost as dollar gains upper hand

    Gold prices fell on Thursday, giving up some gains from a more than 1% rise, as a bounce in the dollar offset support for bullion from a relatively less hawkish stance on interest rate hikes from the U.S. Federal Reserve Spot gold fell 0.3% to $1,876.13 per ounce by 1:43 p.m. ET, having earlier hit …

Gold retreats post Fed-led boost as dollar gains upper hand قراءة المزيد »

Hong Kong falls 1% as Asia-Pacific stocks decline; Alibaba and Tencent shares drop more than 3%

KEY POINTS Shares in Asia-Pacific were lower on Wednesday . The U.S. Federal Reserve is expected to raise interest rates on Wednesday for the second time since 2018 . Markets in Japan and mainland China were closed on Wednesday for holidays . Oil prices rose around 3% in the afternoon of Asia trading hours . …

Hong Kong falls 1% as Asia-Pacific stocks decline; Alibaba and Tencent shares drop more than 3% قراءة المزيد »

Oil jumps $5 a barrel as EU nears ban on Russian oil

    Oil prices jumped on Wednesday, as the European Union, the world’s largest trading bloc, spelled out plans to phase out imports of Russian oil, raising concerns about further market tightness as those nations hunt for adequate supply Crude benchmarks have risen steadily over the past two months following Moscow’s invasion of Ukraine. Until …

Oil jumps $5 a barrel as EU nears ban on Russian oil قراءة المزيد »

Gold recovers early losses, trades around the flatline after the Fed raises rates

    Gold prices were flat Wednesday, after the Federal Reserve announced a half percentage rate hike U.S. gold futures advanced 0.1% to $1,872 The move was largely expected by the Street. “A 50 basis point hike is now priced in by markets … If the statement has a still more hawkish bias, then gold …

Gold recovers early losses, trades around the flatline after the Fed raises rates قراءة المزيد »

European stocks close lower as focus turns to Fed; EU proposes Russian oil ban

KEY POINTS Traders are expecting the U.S. Federal Reserve to hike rates by half a percentage point . Volkswagen, UniCredit and Enel were among those reporting their results Wednesday. . The European Commission proposed a six-month phase out of Russian crude imports . . . LONDON — European stocks closed lower on Wednesday as global …

European stocks close lower as focus turns to Fed; EU proposes Russian oil ban قراءة المزيد »

Dollar approaches 20-year highs, Fed meeting in focus

KEY POINTS The dollar held just below a 20-year high against a basket of currencies on Monday before an expected Federal Reserve rate hike this week, with traders focused on the potential for the U.S. central bank to adopt an even more hawkish tone than many expect . The dollar was last at 103.72 against …

Dollar approaches 20-year highs, Fed meeting in focus قراءة المزيد »

Gold hovers near 2-1/2-month low; investors focus on Fed rate decision

    Gold was flat on Tuesday, after hitting a more than two-month low, as investors braced for more aggressive rate hikes from the U.S. central bank that have boosted the dollar and Treasury yields and lifted the opportunity cost of holding gold Spot gold was flat $1,863.16 per ounce by 7:44 a.m. ET, after …

Gold hovers near 2-1/2-month low; investors focus on Fed rate decision قراءة المزيد »

Oil slips on China demand worries, while EU weighs Russia oil ban

    Oil slipped Tuesday as concerns about the demand outlook due to prolonged Covid lockdowns in China outweighed support from a possible European oil embargo on Russia over its actions in Ukraine Beijing, reporting dozens of new cases daily, is mass-testing residents to avert a lockdown similar to Shanghai’s over the past month. The …

Oil slips on China demand worries, while EU weighs Russia oil ban قراءة المزيد »

Hong Kong stocks rise as Alibaba slips; Australia hikes interest rate

KEY POINTS Several markets are closed in the region for holidays, including China, Japan, Singapore and India. Hong Kong will return to trade from a holiday on Monday . Economic data in the day ahead includes Australia’s interest rate decision, which will be significant as analysts widely expect the first rate hike in more than …

Hong Kong stocks rise as Alibaba slips; Australia hikes interest rate قراءة المزيد »

European stocks close higher after ‘flash crash’; German 10-year yield tops 1%

KEY POINTS Focus will turn this week to monetary policy decisions from major central banks, with the U.S. Federal Reserve expected to announce a half-percentage point increase to its benchmark interest rate on Wednesday . Investors digested weak economic data out of China and Germany and a sudden “flash crash” in Sweden’s OMX 30 index …

European stocks close higher after ‘flash crash’; German 10-year yield tops 1% قراءة المزيد »

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