China’s new yuan loans are expected to fall sharply in October from September, a Reuters poll showed on Friday, signalling weak credit demand even as the central bank ramps up policy stimulus to buttress the economy.
Regional currencies recouped a bulk of their weekly losses after the Fed’s move, with some even turning positive for the week. The dollar, on the other hand, tumbled from four-month highs, with some traders also locking in recent gains.
Oil prices fell slightly on Friday as the risk that a hurricane in the Gulf of Mexico will significantly affect U.S. oil and gas output declined, while the market weighs how President-elect Donald Trump’s policies might affect supplies.
Bitcoin rose on Friday and remained close to record highs hit this week as a Donald Trump victory in the 2024 presidential election and an interest rate cut by the Federal Reserve kept crypto markets upbeat.
European stock markets edged lower Friday, as investors digested a volatile week that has included political turmoil, key central bank decisions as well as more corporate earnings.
Germany would be the big loser if a Trump presidency sparked a tit-for-tat trade war between the United States and Europe, with Germany’s previously much-envied industrial strength potentially becoming an acute vulnerability.
Asian currencies were nursing steep losses from the prior session after news of Trump’s victory sparked sharp increases in the dollar and Treasury yields. But they steadied from these losses on Thursday, with speculation over government intervention in Japan and China also helping their respective currencies
Oil prices ticked up on Thursday following a sell-off triggered by the U.S. presidential election, as risks to oil supply from a Trump presidency and a hurricane building in the Gulf Coast outweighed a stronger dollar and lower crude imports in top importer China.
Bitcoin steadied near recent peaks on Thursday, as Donald Trump’s victory in the 2024 presidential election sparked sharp gains in cryptocurrencies on the prospect of friendlier crypto regulations.
European stock markets traded in a mixed fashion Thursday, as investors digested the ramifications of political upheaval in Germany and Donald Trump’s return ahead of rate decisions from the Federal Reserve and the Bank of England.
