Oil Prices Dip, But Eye Positive Week On Chinese Demand Bets
Oil prices fell slightly on Friday as traders weighed the prospect of more economic headwinds from rising interest rates, although renewed optimism over a rebound in Chinese demand put prices on course for strong weekly gains. Crude markets logged wild swings in recent sessions amid a series of mixed cues. While better-than-expected Chinese business activity […]
Gold Prices Hover Above 2023 Lows As Fed Uncertainty Persists
Gold prices kept to a tight range on Tuesday after recovering slightly from their weakest level this year, as concerns over rising interest rates and anticipation of key U.S. economic readings this week kept traders largely on the sidelines. The yellow metal marked four consecutive weeks of losses as hotter-than-expected U.S. inflation and signs of […]
Gold Prices Hover Above 2023 Lows As Fed Uncertainty Persists
Gold prices kept to a tight range on Tuesday after recovering slightly from their weakest level this year, as concerns over rising interest rates and anticipation of key U.S. economic readings this week kept traders largely on the sidelines. The yellow metal marked four consecutive weeks of losses as hotter-than-expected U.S. inflation and signs of […]
Telekom Reports Q4 Growth, Forecasts Slightly Higher Earnings in 2023
Deutsche Telekom reported better-than-expected-fourth-quarter earnings on Thursday, citing customer growth in Germany and strong performance from T-Mobile US (NASDAQ:TMUS), and forecast a slight rise in profits this year. Adjusted earnings before interest, tax, depreciation and amortisation after leases (EBITDA AL) of 9.96 billion euros ($10.58 billion) for the quarter, slightly exceeded consensus estimates of 9.9 […]
Asian Stocks Hit By Tech Rout, More Fed Cues Awaited
Most Asian stock markets sank on Wednesday tracking overnight losses on Wall Street, with technology-heavy indexes losing the most as caution kicked in ahead of the minutes of the Federal Reserve’s February meeting. Japan’s Nikkei 225, the Taiwan Weighted index, and South Korea’s KOSPI were the worst performers for the day, losing between 0.8% and […]
Australia’s Central Bank Revises Up Inflation Forecasts As Further Rate Hikes Flagged
Australia’s central bank on Friday revised up its forecasts for core inflation and wages growth and warned of further increases in interest rates, raising the risk the economy could slip into recession. In a hawkish-sounding quarterly Statement on Monetary Policy, the Reserve Bank of Australia (RBA) said domestically-sourced cost pressures were still picking even if […]
Dow Futures Trade Lower As Tech Earnings Disappoint, Apple Sheds 2.8%
U.S. stock futures were trading lower during Thursday’s evening deals, after major benchmark averages finished mixed as investors grew cautious after a slew of mixed earnings reports. By 6:35pm ET (11:40pm GMT) Dow Jones Futures were down 0.2%, S&P 500 Futures fell 0.6% and Nasdaq 100 Futures were down 1.2%. In extended deals, Apple (NASDAQ:AAPL) […]
Oil Prices Dip as industry Data Shows Massive Build in U.S. Inventories
Oil prices fell on Wednesday after industry data pointed to a large weekly build in U.S. crude stockpiles, although losses were limited by the prospect of strong demand this year and as the dollar softened on expectations of slower interest rate hikes. Data from the American Petroleum Institute showed that U.S. crude stockpiles surged […]
Oil Extends Rally as U.S. Supplies Tighten Ahead of Demand-Heavy Holidays
Oil prices extended gains into a fourth straight session on Thursday after inventory data showed that U.S. supplies remained tight ahead of a demand-heavy holiday season, although caution ahead of key economic readings kept gains limited. Data on Wednesday showed that U.S. crude inventories shrank far more than expected in the previous week, with decreases […]
Asia FX Sinks as Caution Over Fed, CPI inflation, Boosts Dollar
Most Asian currencies fell on Monday, while the dollar rose as markets hunkered down ahead of highly awaited signals on U.S. monetary policy from a Federal Reserve meeting and a reading on U.S. consumer inflation. Most regional units were also nursing losses from last week, amid growing concerns over a potential recession in 2023, which […]