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European shares flat ahead of data-packed week
European shares began the week on a cautious note as investors awaited key economic data. The STOXX 600 index remained steady. Notable stock movements included TotalEnergies rising after a new deal with Air France-KLM, while Commerzbank fell due to the German government's stake retention, and AstraZeneca dropped following disappointing trial results.
Gold breaks $2,600 barrier as Fed cut bets prolong historic run
Gold prices surged past $2,600 for the first time, driven by expectations of further U.S. interest rate cuts and rising Middle East tensions. Spot gold rose 1.3% to $2,620.63 per ounce, while U.S. gold futures increased by 1.2%. Analysts predict potential corrections but note geopolitical risks could sustain demand.
Gold skyrockets as stars align for Fed rate cuts
Gold prices surged to record highs, driven by expectations of interest rate cuts by the U.S. Federal Reserve and other central banks. Spot gold reached $2,582.04 per ounce, while U.S. gold futures settled at $2,610.70. The dollar's decline and fund inflows further boosted bullion prices.
Oil falls 2% to end volatile week, focus on China demand concerns
Oil prices fell nearly 2%, with Brent crude below $80 a barrel, as investors adjusted expectations of demand growth from China. China's economic slowdown and reduced refinery crude processing contributed to lower demand forecasts. Market movements were further influenced by tensions in the Middle East and positive economic data from the U.S., awaiting Federal Reserve's next steps.
Gold hits record high as global markets rise
Gold hit a record high on Friday as global stock markets gained on reassuring data about the health of the world's biggest economy and likely US interest rate cuts. The gold spot price rose to a record high of $2,509.41 an ounce as investors snapped up the haven investment in the face of an increasingly likely US interest rate cut in September and heightened geopolitical risks.
Oil dips as demand concerns outweigh Middle East supply fears
Oil prices dipped lower in volatile trade on Tuesday, as a weak demand outlook after a global sell-off in markets on Monday countered price support from fears of an escalation in the Middle East conflict, and a drop in Libyan production.
Oil set for weekly loss as markets worry about demand
Oil prices rose on concerns of high interest rates impacting fuel demand. Federal Reserve's interest rate policy, US crude oil inventories, and statements from Fed Chair Jerome Powell influenced market sentiment. Analysts anticipate market shifts as OPEC+ considers extending production cuts and reports emerge of oil overproduction by Russia.
Oil edges higher after inflation gloom hit prices
Oil prices crept higher on Friday, having been under pressure from lingering concerns that sticky inflation could prolong higher interest rates and curb fuel demand.
US overtakes China as Germany's top trading partner
The United States surpassed China as Germany's top trading partner in Q1, with trade totaling 63 billion euros, compared to China's just under 60 billion euros. This shift is attributed to the robust U.S. economy, declining trade with China, and structural changes in production. Germany aims to reduce dependence on China but faces uncertainties with potential policy changes.
Oil down on Middle East talks while investors await Fed meeting
Oil edged lower on Tuesday after U.S. data showed healthy crude output and exports, extending losses prompted on Monday by hopes of an Israel-Hamas ceasefire, while investors await signals on U.S. interest rates from the Federal Reserve meeting this week.
Oil heads for weekly gain as Middle East conflict rages unabated
Oil prices were on track for over 5% gains week-on-week on Friday, amid persistent tensions in the Middle East after Israel rejected a ceasefire offer from Hamas.
Oil gains with Gaza ceasefire talks in focus
Oil prices maintained upward momentum on Tuesday as investors awaited the result of top U.S. diplomat Antony Blinken's efforts in the Middle East to halt the Gaza war and quell tensions in a major oil-producing region.
Oil prices firm on Middle East crisis and Libya outage
?Oil prices rose on Tuesday as the Middle East crisis and a Libyan supply outage reduced the previous day's heavy losses.
Commerzbank wins crypto custody licence in digital assets push
The license will allow the bank to ¡°build up a broad range of digital asset services, with particular emphasis on crypto assets,¡± the Frankfurt-based bank said in a statement on Wednesday. It¡¯s the ¡°first German full-service bank¡± to get the license, it said.
Oil climbs, fuelled by tighter supplies, China stimulus
Oil prices rose on Friday as evidence of tightening supplies and economic stimulus in slow-recovering China buoyed the market. Brent futures were up $1.02 at $80.66 a barrel, while US West Texas Intermediate crude climbed $1 to $76.65 a barrel. Commerzbank analysts said the "supply deficit that had been looming in the second half
Surprise fall in factory orders adds to German woes
On the other hand, thee motor vehicle and electrical equipment sectors saw an increase in new orders in April.
Oil rises but set for weekly loss as economic uncertainty weighs
Oilfield services giant SLB beat Wall Street estimates for first-quarter profit, as elevated crude prices and tight supplies increased demand for its services.
Gold rally cools as focus turns to Fed move
Bullion has gained over $100 after the collapse of U.S.-based Silicon Valley Bank earlier this month, as investors scrambled for the safe haven.
Oil prices dip on recession worries, but supply cuts support
Brent crude futures were down 76 cents, or 0.8%, at $93.81 a barrel at 1044 GMT while U.S. West Texas Intermediate (WTI) crude futures fell 85 cents, or 1%, to $88.26.The Brent and WTI contracts both oscillated between positive and negative territory on Friday but were down more than 4%over the week after two weeks of gains on concern over the global economy.
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