Market Update

Oil prices rose more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in US crude, gasoline and distillate stockpiles. Brent crude futures were up $1.01, or 1.2%, to $82.69 a barrel by 1:34 p.m. ET …

The US GDP exceeded forecasts in the third quarter, with a 5.2% increase compared to the anticipated QoQ print of 5.0%. However, Japan’s retail trade numbers continued to decline. The Fed’s Tom Barkin gave a hawkish demonstration, and Fedspeak is pulling markets in different directions. The USD/JPY is retreating towards …

As of writing, the AUD/USD pair has decreased by 0.50% and is currently trading at 0.6614. With a reported growth rate of 5.2% in Q3, the US economy grew at its fastest rate in almost two years, exceeding the 5% forecast. Along with employment data, traders of the AUD/USD pair …

The Fed’s preferred inflation index, the Core Personal Consumption Expenditure (PCE), will be released by the US Bureau of Economic Analysis (BEA) on Thursday, November 30.Economists and researchers have published their forecast and estimates of the looming reading. The Fed-preferred inflation measure is expected to follow the CPI and show …

Tom Barkin, President of the Federal Reserve Bank of Richmond, said on Wednesday that he is unwilling to take another interest rate hike off the table. After these comments, the dollar holds modest daily gains, recovering from monthly lows. The DXY is up by 0.15%, at 102.90. Barkin believes that …

Gold prices touched their highest levels in nearly seven months on Wednesday thanks to a decline in the dollar and US bond yields, with investors growing more confident that the Federal Reserve will cut interest rates during the first half of next year. By 06:32 GMT, gold in instant transactions …

The dollar rose on Wednesday after falling to its lowest level in more than three months on hopes that the Federal Reserve will cut interest rates soon. The New Zealand dollar was one of the best performing currencies, rising 0.49 percent to $0.6166 after the Reserve Bank of New Zealand …

German stocks led gains in Europe on Wednesday after data indicated a decline in inflation in the country’s most populous state, reinforcing expectations that the European Central Bank will cut interest rates next year. The German DAX index rose 1 percent to touch a four-month high after data showed that …

The Japanese Nikkei index ended the session on Wednesday with a decline amid tepid trading, as investors continued to sell shares to take profits after a rise witnessed last week. The Nikkei index fell 0.26 percent to 33,321.22 points after opening with a decline of 0.49 percent and then rising …

Oil prices rose on Wednesday after a storm in the Black Sea region disrupted Kazakhstan and Russia’s crude exports, raising fears of supply shortages as investors awaited a decisive decision from the OPEC+ alliance that could increase or extend production cuts. By 0127 GMT, Brent crude futures rose 33 cents, …