The US dollar rose to a new high on Friday, while the euro sank on poor euro-area economic data. The dollar rose 3% this month on expectations that a presidential election victory would boost inflation and limit the Federal Reserve’s ability to cut interest rates. In Europe, EUR/USD fell to a two-year low on Thursday…
Oil prices edged lower in early Asian trade on Friday as stronger-than-expected U.S. inflation data stoked some doubts about how much interest rates will fall in the coming months. Brent oil futures for December were down 0.5% at $78.98 a barrel, while West Texas Intermediate crude futures were down 0.4% at $74.79 a barrel. Although…
Oil prices rose on Tuesday on concerns that rising tensions in the Middle East could hit supplies from the major producing region, while a major hurricane loomed over the world’s biggest crude producer, the United States. Brent crude futures for November delivery were up 69 cents, or 0.93%, at $74.59 a barrel. US WTI crude…
The Federal Reserve kept interest rates unchanged and admitted their efforts to reduce inflation have failed. This caused the price of gold to rise as it is seen as a hedge against inflation. The central bank also indicated that additional rate hikes are unlikely in the near future. The Fed’s recent comments were seen as…
