WTI Nears $78.50 as US Inflation Data, OPEC+ Meeting Loom
WTI Nears $78.50 as US Inflation Data, OPEC+ Meeting Loom West Texas Intermediate (WTI) crude oil prices edged higher as traders anticipate the upcoming meeting of the Organization of the Petroleum Exporting Countries and allies, including Russia (OPEC+), scheduled for June 2. The meeting will address whether to extend the current voluntary output cuts of 2.2 million barrels per day into the second half of 2024. WTI was trading around $78.70 per barrel during Tuesday’s […]
Japan Wary of Weak Yen’s Downsides, Finance Minister Notes
Japan Wary of Weak Yen’s Downsides, Finance Minister Notes Japanese Finance Minister Shunichi Suzuki expressed concerns on Tuesday about the current depreciation of the yen, emphasizing the negative effects more than the positives. Suzuki highlighted the challenges posed by a weak yen, including increased costs for companies and consumers due to higher import prices, during a session with a parliamentary committee. Suzuki pointed out that Japan’s economic policy aims to secure wage growth that outpaces […]
Mixed Stocks, Dollar Weakens Ahead of Inflation Report
Mixed Stocks, Dollar Weakens Ahead of Inflation Report European shares were poised for modest gains, tracking mild increases in Asian markets as the dollar weakened ahead of key inflation data expected to impact global monetary policy. Futures for European and US stocks showed slight rises, while the 10-year Treasury yield held steady. The MSCI AC Asia Pacific index aimed for a second consecutive day of gains, albeit below earlier peaks. The Bloomberg dollar index declined […]