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Oil slips for third session on likely 'higher for longer' US rates Oil prices fell for a third straight session on Wednesday on expectations the Federal Reserve could keep U.S. interest rates higher for longer due to sustained inflation, potentially impacting fuel use in the world's largest oil consumer. Brent crude futures were down 43 cents, or 0.5%, to $82.45 a barrel. U.S. West Texas Intermediate crude (WTI) futures slipped 50 cents, or 0.6%, to $78.16. Oil prices settled about 1% lower on Tuesday. Fed policymakers said on Tuesday the U.S. cent...
Oil slips for third session on likely 'higher for longer' US rates
Oil slips for third session on likely 'higher for longer' US rates
Source: Reuters
2024-05-22 09:05:33 am
Dollar index on track for first weekly fall this year dollar index was on track for its first weekly fall in 2024 on Friday as investors took a breather from buying the currency following an almost two-month rally built on expectations that the Federal Reserve will begin cutting rates later than previously expected. Investors have pushed back expectations for the first Fed rate cut to June, from May, and dramatically reduced how far they see the U.S. central bank cutting its benchmark rate. Fed officials have projected three 25 basis point cu...
Dollar index on track for first weekly fall this year
Dollar index on track for first weekly fall this year
Source: Reuters
2024-02-24 08:48:27 am
Euro edges off six-week lows ahead of ECB meet, US GDP data The euro on Thursday sat just above a six-week low against the U.S. dollar hit earlier in the week, ahead of a European Central Bank (ECB) meeting and U.S. GDP data that could offer investors indications of the path ahead for interest rates. The common currency was last up 0.12% at $1.0899, not far from the $1.0822 touched on Tuesday, its lowest since mid-December. Moves on Thursday morning were muted as traders have several events to react to later in the day. First, the ECB announc...
Euro edges off six-week lows ahead of ECB meet, US GDP data
Euro edges off six-week lows ahead of ECB meet, US GDP data
Source: Reuters
2024-01-25 04:05:16 pm
Dollar on shaky ground as Fed rate cut bets strengthen The dollar started the week on a shaky footing on Monday as markets took stock of cautious remarks from Federal Reserve Chair Jerome Powell as they waited on a key employment report that could influence the outlook for U.S. interest rates. Bitcoin grabbed the spotlight in the Asian morning, reaching the $40,000 level for the first time in over a year. Powell said on Friday it was clear that U.S. monetary policy was slowing the economy as expected, with the benchmark overnight interest r...
Dollar on shaky ground as Fed rate cut bets strengthen
Dollar on shaky ground as Fed rate cut bets strengthen
Source: Reuters
2023-12-04 09:10:26 am