Oil prices were steady in Asian trading on Tuesday, consolidating the previous session’s gains as OPEC+ reaffirmed its decision to pause production increases in the first quarter and as traders continued to evaluate supply risks tied to global geopolitical tensions. By 21:18 ET (02:18 GMT): Brent February futures rose 0.1% …
Read More »U.S. Stock Futures Slip as Markets Weigh December Fed Rate Cut and Next Chair Pick
U.S. stock futures moved lower on Monday as investors digested the implications of rising expectations for a Federal Reserve interest rate cut in December and speculation over the central bank’s next chair. By 06:28 ET (11:28 GMT): S&P 500 futures were down 42 points (-0.6%) Nasdaq 100 futures fell 182 …
Read More »Bitcoin Slides Over 5% as Yearn Finance Exploit Triggers Fresh Crypto Market Turbulence
Bitcoin fell sharply in Asian trading on Monday, kicking off the new month with renewed volatility after a serious incident at DeFi protocol Yearn Finance ignited widespread concerns over market liquidity. By 01:07 ET (06:07 GMT), Bitcoin was down 5.3% at $86,075.6, after touching an intraday low of $85,638.3. The …
Read More »Gold Trades Near Six-Week High as Weaker Dollar and Fed Cut Expectations Boost Demand
Gold hovered near a six-week peak on Monday, supported by a softer U.S. dollar and firm expectations that the Federal Reserve will cut interest rates later this month. By 02:32 ET (06:32 GMT), spot gold was up 0.2% at $4,240.55 an ounce, after briefly touching $4,256.20, its highest level since …
Read More »Oil Climbs Over 1% as OPEC+ Holds Output Steady and Geopolitical Risks Mount
Oil prices rose more than 1% in Asian trading on Monday, supported by OPEC+’s decision to keep production unchanged in the first quarter and by renewed supply concerns linked to geopolitical tensions. By 20:52 ET (01:52 GMT), February Brent crude futures were up 1.2% at $63.13 per barrel, while WTI …
Read More »Canada’s Economy Rebounds in Q3 With 2.6% Annualized Growth
Canada’s economy returned to growth in the third quarter, expanding at a stronger-than-expected 2.6% annualized pace, driven by a sharp improvement in the trade balance and an uptick in government capital spending, according to data released Friday by Statistics Canada. On a quarterly basis, real GDP grew 0.6% between July …
Read More »Bitcoin Holds Steady After Sharp Rebound as Markets Bet on December Fed Rate Cut
Bitcoin stabilized on Friday after climbing back above the $90,000 level earlier this week, buoyed by growing expectations of an imminent interest-rate cut by the U.S. Federal Reserve and speculation over a potential leadership shift at the central bank. By 01:32 ET (06:32 GMT), the world’s largest cryptocurrency was trading …
Read More »Euro Zone Consumers Lift Near-Term Inflation Expectations, Reinforcing View That ECB Has Finished Cutting Rates
Euro zone consumers nudged their short-term inflation expectations higher in October but kept medium- and long-term views broadly unchanged, according to a European Central Bank (ECB) survey released Friday. The results support market bets that inflation is stabilizing near target and that the ECB likely has no need to deliver …
Read More »UK Home Sales Drop 4% as Buyers Hold Back Ahead of Budget Tax Fears — Zoopla
UK home sales fell 4% in the four weeks to November 23 as many potential buyers retreated from the market amid concerns over higher property taxes in the upcoming budget, real estate agency Zoopla said on Friday. Buyer demand was 12% lower than during the same period last year, reflecting …
Read More »Gold Set for Fourth Straight Monthly Gain as December Fed Rate-Cut Bets Strengthen
Gold prices rose in Asian trade on Friday and were on track for a fourth consecutive month of gains in November, supported by growing confidence that the U.S. Federal Reserve will cut interest rates next month. Bullion briefly slipped in the previous session but quickly resumed its upward move as …
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