Category: Industry

Dollar Rises ahead of US Inflation Data

The dollar rose on Wednesday on rising expectations the Federal Reserve is unlikely to cut rates until later this year ahead of crucial inflation readings this week, while the yen drifted to its weakest in four weeks.

The dollar was also lifted by ri…

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Kuwait Oil Price Rises $1.13

Price of the Kuwaiti crude oil rose $1.13 to settle at $85.53 per barrel on Tuesday vis a vis $84.40 pb on Monday, Kuwait Petroleum Corporation (KPC) said on Wednesday.

In international markets, forwards of the Brent crude moved up by $1.12 to reach …

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Gold Edges Lower as US Dollar and Yields Firm

Gold prices edged lower on Wednesday as the US dollar and Treasury yields held firm ahead of key inflation data, which could offer more clarity on the Federal Reserve’s interest rate trajectory.

Spot gold eased 0.2% to $2,356.92 per ounce. Prices had…

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