The yen traded at fresh 38-year lows against the dollar and a record trough against the euro on Wednesday, as the currency continued its downward grind, with Japanese officials largely remaining on the sidelines amid the risk of intervention.
According to Citi, “Gold investment demand in China and central banks has risen to 85% of mine supply during 1Q’24 and averaged more than 70% of mine supply over the past two years.” This surge in investment demand has counteracted the negative impact of higher US real interest rates, pushing gold prices to record highs.
Bitcoin fell 4% in the past 24 hours to $60,339.1 by 08:20 ET (12:20 GMT). The world’s biggest cryptocurrency was nursing steep losses through June and remained squarely within a trading range established since March.
Friday sees the release of the July nonfarm payrolls report, which could provide further clues over when the U.S. central bank will start its rate-cutting cycle, given strength in the labor market is another key consideration for the Fed in cutting interest rates.
The Russian central bank will hike rates by 200 basis points to 18% later this month as it tries to quell stubbornly high inflation that analysts now expect to end 2024 well above the bank’s 4% target, a Reuters poll showed on Tuesday.
The dollar index has climbed as the prospects of a second Donald Trump presidency have risen over the last few days, boosted by President Joe Biden’s faltering debate performance last week as well as the Supreme Court’s ruling on Monday that Trump has some immunity from prosecution over attempts to overturn his 2020 election loss.
U.S. West Texas Intermediate (WTI) crude gave up most of its gains from earlier in the day as the forecast track for Hurricane Beryl continued to aim it away from major offshore production areas in the U.S.-regulated northern Gulf of Mexico.
Bitcoin climbed 0.1% in the past 24 hours to $62,736.2 by 08:28 ET (12:28 GMT). The world’s biggest cryptocurrency was nursing steep losses through June, and remained within a trading range of $60,000 to $70,000 seen through most of the second quarter.
Global Training Solutions Limited and Smartech Future Limited, both in China, as well as Grace Air (Pty) Ltd and Livingston Aerospace Limited of the United Kingdom, were added because of their ties to the Test Flying Academy of South Africa and the training of China’s military forces using Western and North Atlantic Treaty Organization (NATO)…
The case has broken new legal ground in enforcement of international arbitration awards and on cracking sovereign and corporate immunity. The auction is expected to lead to an ownership change of Venezuela’s foreign crown jewel to satisfy $21.3 billion in claims against the South American country.
