UK markets were spared painful blows from the new Labour government’s first budget on Wednesday, which announced 40 billion pounds of tax hikes to plug shortfalls but soothed jitters about public spending blowouts and debt market disorder.
The yen remained under pressure on Thursday as the Bank of Japan kept ultra-low interest rates steady, while the U.S. dollar consolidated ahead of jobs data later this week and the U.S. presidential election next week.
Oil prices rose on Thursday, extending the previous day’s rally, driven by optimism over U.S. fuel demand following an unexpected drop in crude and gasoline inventories, while reports that OPEC+ may delay a planned output increase offered support.
These are candles that will show extremely large growth, Mow believes, and will eventually lead Bitcoin above the $1 million price mark. The key reason why BTC is bound to rise violently and cause those massive green candles to appear is that “Bitcoin has been coiled so tightly,” per JAN3 boss Mow.
Crude oil for December delivery was up 0.52% or 0.36 to $68.97 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January rose 0.51% or 0.37 to hit $72.53 a barrel, while the December Gold Futures contract fell 0.22% or 6.15 to trade at $2,794.65 a troy ounce.
Republican U.S. presidential candidate Donald Trump said on Tuesday the European Union would have to “pay a big price” for not buying enough American exports if he won the Nov. 5 election.
Mixed U.S. indicators overnight, showing a loosening U.S. jobs market but a confident consumer, provided little clarity on the outlook for Federal Reserve easing, allowing the greenback to drift lower with Treasury yields on Tuesday following a strong seven-year note auction.
Gold prices hit a record high in Asian trade on Wednesday as safe haven demand was boosted by increased political uncertainty in the U.S. and Japan, as well as anticipation of more cues on interest rates.
This trade picked up in recent weeks as prediction markets largely favored a Trump victory, while polls pointed to a tightly contested election. Analysts said the election was still too close to call.
ANZ Group has unveiled an organisational overhaul, with an aim to streamline operations and enhance data analytics, the Australian lender said on Wednesday as it sought to address regulatory woes surrounding its oversight of certain operations.
