The Bank of England could move more quickly to cut interest rates if there is further good news on inflation but conflict in the Middle East could push up oil prices, Governor Andrew Bailey told the Guardian newspaper.
The dollar hit a three-week high against the euro on Wednesday after the ADP national employment report showed U.S. private payrolls increased more than expected in September, ahead of Friday’s highly anticipated jobs data.
Oil prices rose on Thursday as the prospect of a widening Middle East conflict that could disrupt crude oil flows from the key exporting region overshadowed a stronger global supply outlook.
XRP was trading at $0.5414 by 17:59 (21:59 GMT) on the Investing.com Index on Wednesday, down 10.10% on the day. It was the largest one-day percentage loss since April 13.
Crude oil for November delivery was up 1.53% or 1.07 to $71.17 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 1.35% or 1.00 to hit $74.90 a barrel, while the December Gold Futures contract rose 0.21% or 5.50 to trade at $2,675.20 a troy ounce.
Sri Lanka will have detailed talks with the IMF on the framework of a $2.9 billion bailout programme on the sidelines of the lender’s annual meetings in Washington later this month, the country’s cabinet spokesperson said on Tuesday.
The yen steadied close to the middle of its range against the dollar over the past month, after a volatile two days as traders sized up Japan’s incoming prime minister and his cabinet.
On Monday, Brent futures ended September down 9%, the third month of declines and largest monthly drop since November 2022. It slumped 17% in the third quarter for its biggest quarterly loss in a year. WTI fell 7% last month and dropped 16% for the quarter.
Since the summer of 2020, the price of Bitcoin managed to make it to a new all-time high at $69,000, fell to $15,500 amid the collapse of FTX and made it back to a new high at $74,000.
Inflation is also easing in France, Italy and Spain, suggesting that the risk to the eurozone forecast of 1.8% growth annually in September is to the downside, even though this would still be below the ECB’s 2.0% medium-term target.
