Financial News Hub
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Global Stocks Head for Best Week Since May as U.S. Jobs Data Shifts Rate Outlook
Global stock markets moved higher at the end of the week, heading for their strongest weekly performance in around two months. The main driver came from weaker-than-expected U.S. jobs data, which eased investor concerns over the possibility of an imminent interest rate hike by the Federal Reserve.
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GOLD BREAKS OUT AS RECOVERY SIGNALS BECOME CLEARER
Spot gold rose 1.4% to $4,180 per ounce at 02:45 GMT, reaching its highest level since June 23. For the week, the precious metal was up around 1.2%, marking its first weekly gain since late May.
Oil Edges Higher Ahead of Long U.S. Weekend as Peace Hopes Hold
Oil prices rose slightly on Friday ahead of a long holiday weekend in the United States, as markets maintained cautious optimism over peace efforts between the U.S. and Iran in the Middle East. However, investors are still waiting for clearer evidence of stable supply before confirming a stronger market direction.
Asian Stocks Choppy as U.S. Jobs Data Dampen Fed Rate-Hike Bets
In South Korea, the Kospi came under pressure as chip stocks tracked sharp losses among U.S. semiconductor names. Meanwhile, S&P 500 and Nasdaq e-mini futures both rose 0.1%, while Japan’s Nikkei 225 fell 1%.
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Gold and Silver Rise as NFP Risk Keeps the Dollar and Treasury Yields Elevated
At the time of writing, spot gold was trading around $4,036.90 per ounce, up 0.75%. Meanwhile, spot silver was trading near $59.07 per ounce, up 1.03% on the session.
Dollar Holds Steady Ahead of U.S. Payrolls as Yen Intervention Jitters Persist
The Dollar Index, which measures the greenback against a basket of major currencies including the yen and the euro, slipped slightly by 0.02% to 101.38.
Stocks and Bond Markets Turn Cautious as the Dollar Strengthens Against the Yen
Asian stock markets entered the new quarter in a cautious mood as talks between the United States and Iran continued to face obstacles. At the same time, investors closely monitored the possibility of Japanese currency intervention as the yen fell to its lowest level in 40 years against the U.S. dollar.