Indonesia’s unaudited budget deficit for the 2024 fiscal year was 507.8 trillion rupiah ($31.38 billion), or 2.29% of GDP, smaller than the finance ministry’s earlier estimate but bigger than that of 2023, official data showed on Monday.
In Canada, Prime Minister Justin Trudeau is increasingly likely to announce he intends to step down, though he has not made a final decision, a source told Reuters. The Globe and Mail earlier reported that Trudeau was expected to announce his resignation as early as Monday.
Oil posted five-session gains previously with hopes of rising demand following colder weather in the Northern Hemisphere and more fiscal stimulus by China to revitalise its faltering economy.
Bitcoin rose for the seventh consecutive session on Monday, recovering from a year-end slump, while investors cautiously await clues on the U.S. regulatory outlook before President-elect Donald Trump takes office this month.
Crude oil for February delivery was down 0.26% or 0.19 to $73.77 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March fell 0.27% or 0.21 to hit $76.30 a barrel, while the February Gold Futures contract fell 0.40% or 10.59 to trade at $2,644.11 a troy ounce.
Asian stocks rose on Friday, aiming to shrug off a lacklustre start to 2025, while the dollar was steady near a two-year high against a basket of currencies as investors fret about U.S. rates staying higher for longer.
The Chinese yuan was among the worst performers in Asia, hitting its weakest level in nearly 16 months as a Financial Times report said the People’s Bank of China will cut interest rates further in 2025.
Oil prices barely budged on Friday after closing at their highest in more than two months in the prior session, amid hopes that governments around the world may increase policy support to revive economic growth that would lift fuel demand.
Bitcoin rose on Friday, extending a recovery from a price rout seen over the new year holiday as traders sought more clarity on the U.S. regulatory outlook under incoming President Donald Trump.
As an EV price war in China enters a third year, Tesla has extended a 10,000 yuan ($1,369.99) discount on outstanding loans for its best-selling Model Y as well as zero-interest financing of up to five years for some Model 3 and Model Y cars until the end of this month.
