Japan is considering spending 13.9 trillion yen ($89.7 billion) from its general account to fund a new stimulus package aimed at mitigating the impact of rising prices on households, according to a government document reviewed by Reuters on Thursday.
The U.S. dollar paused its climb on Thursday as traders awaited more clarity on U.S. President-elect Donald Trump’s proposed policies and sought to second-guess the prospects of less aggressive interest rate cuts from the Federal Reserve.
Gold rose for a fourth consecutive session, extending a rebound from over two-month lows. But the yellow metal’s pace of gains now appeared to be slowing amid pressure from the dollar, as traders second-guessed expectations for lower U.S. interest rates.
The crypto was close to the coveted $100,000 level, which analysts said could be hit soon if price momentum persisted. But Bitcoin was also seen pushing further into overbought territory, which could herald a sharp drop, especially if traders lock in recent profits.
Crude oil for January delivery was up 1.09% or 0.75 to $69.50 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January rose 0.99% or 0.72 to hit $73.53 a barrel, while the December Gold Futures contract rose 0.74% or 19.55 to trade at $2,671.25 a troy ounce.
