U.S. stock futures edged higher Monday, continuing the recent positive tone ahead of the release of key inflation data, which could be the deciding factor in the near-term direction for markets.
The U.S. dollar edged higher Thursday, trading in a tight range ahead of next week’s all-important U.S. inflation data, while the pound slipped ahead of the Bank of England’s policy-setting meeting.
Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from U.S. Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp energy use in the world’s biggest economy.
The surge in demand for Bitcoin has coincided with significant selling of gold ETFs, which experienced outflows of $7.7 billion over the same period, even as the price of gold reached an all-time high of $2,200 per troy ounce.
The surge comes amid a sharp increase in the future prices for transporting a container from China to Europe in June 2024. Since October, these prices have skyrocketed by nearly 400%.
