The US dollar wobbled on Thursday as new US strikes in the Middle East undermined sentiment, while a surge in May US consumer inflation to a three-year high kept investors uneasy about the Federal Reserve’s monetary policy outlook. The currency markets have been subdued this week, as investors weighed the fragile ceasefire in the Middle East against a renewed cycle of tit-for-tat strikes betw
Gold hit a more than six-month low on Thursday, as fresh US strikes on Iran drove oil prices higher, deepening concerns around inflation and higher-for-longer interest rates. Fundamentals Spot gold was down 0.2% at $4,063.87 per ounce, as of 0043 GMT, after hitting its lowest level since November 21 earlier in the day. US gold futures for August delivery were down 1.1% at $4,086.50. Th
Oil prices climbed more than $2 a barrel Thursday as Iran declared the critical energy chokepoint, the Strait of Hormuz, closed after the US launched additional strikes against Iran. Brent futures rose $2.30, or 2.47%, to $95.40 a barrel, while US West Texas Intermediate (WTI) crude climbed $2.60, or 2.89%, to $92.63. US crude futures gained more than $3 earlier in the session. Iran’s to
A volatile trading was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index swinging both ways during trading on Wednesday amid escalating tensions in the Middle East. At 12:35pm, the benchmark index was hovering at 170,284.25, down by 46.31 points or 0.03%. A mixed trading pattern was observed in key sectors, including automobile assemblers, cement, commercial ban
Oil prices climbed about 1% on Wednesday, moving away from a seven-week low touched in the previous session, after the US military launched new strikes against Iran and as market data showed another large draw in US crude stocks. The US military’s strikes on Iranian targets followed after President Donald Trump vowed on Tuesday to respond to the downing of a US Apache attack helicopter overnigh