The newest social media platform just released, and the Internet is jumping ship. Dubbed as the “Twitter Killer”, Threads is a text-based social media app launched by META.
Western Texas Intermediate (WTI), the US crude oil benchmark, rose on Wednesday after Tuesday’s holiday in the United States (US), keeping prices almost unchanged due to thin volumes amidst US traders’ absence. Hence, WTI is trading at $71.86 per barrel, up by 1.28%, after hitting a daily low of $70.40.
In June, the Reserve Bank of Australia (RBA) surprised markets with a decision to hike rates by 25bps, taking the Australian cash rate to 4.10%. This was decided on the basis that further increases were required to provide greater confidence that inflation would return to the target range within a reasonable timeframe.
Ludovic Subran, Chief Economist at Allianz, has warned of the potential for policy missteps by US or euro-zone policymakers as they seek to tighten monetary conditions.
Numerous Australians look back upon the distressing late 1980s era, wherein interest rates skyrocketed to a staggering 17%, evoking a bitter sense of déjà vu. This period was marked by the squeezing of family budgets and the shattering of countless aspirations for owning a home against the unyielding wall of financial reality.
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Spot gold oscillated slightly higher during the Asian session on Friday (July 7) and is currently trading near $1914.30 per ounce.
On Thursday, the expected hot "ADP" data pushed up expectations that the Federal Reserve will raise interest rates further, spot gold dived nearly $25 to a new 3-month low, eventually closing down 0.34% at $1910.88 per ounce.
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Spot gold rose slightly and is currently trading near $1919.40 per ounce. International trade tensions have provided some safe-haven support to gold prices.
According to market data on July 4, the trading range for USD/JPY was observed to be between 144.20 and 144.71. As of the time of reporting, it was trading at 144.50, indicating a decline of 0.11 percent during the day.
On Monday, a global securities watchdog highlighted the necessity for imposing limitations on the utilization of four dollar-denominated alternatives to the recently abolished Libor interest rate. The objective behind these restrictions is to safeguard financial stability rather than introducing a potential menace to the global financial landscape.
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On Wednesday, spot gold gave back all of its intraday gains and ended down 0.51% at $1,915.18 per ounce as the minutes of the Fed's policy meeting last month reinforced expectations that interest rates will remain higher for longer.
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