West Texas Intermediate (WTI), futures on NYMEX, holds onto weekly gains near $96.00 during the European trading session on Friday. The oil price has gained significantly this week, as financial markets continue to offer risk premium due to prolonged Middle East conflicts.
Commodities
Gold (XAU/USD) heads north for the second consecutive day on Friday, trading near $4,180, with bulls aiming for the $4,230 area, the top of October’s trading range.
Indices
The Dow Jones Industrial Average (DJIA) has shifted from September's laggard to October's outperformer, gaining 2.46% through 15 October versus the Nasdaq 100's 1.86% decline. Rotation away from AI-linked semiconductor stocks towards healthcare and consumer sectors is driving the Dow's relative strength. Technically, US Wall Street 30 has broken above a medium-term descending channel, with 51,950 as pivotal support and a clearance above 52,390 potentially targeting 52,687 and 53,100.
Forex
The Australian Dollar (AUD) is up 0.41% higher at around 0.6950 against the US Dollar (USD) during the European trading session on Friday. The Aussie pair strengthens as the market sentiment turns risk-on due to United States (US) Treasury Yields remaining under pressure this week.
Indices
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – edges lower during the Asian session on Friday, trading as it holds above mid-$95.00s and remains close to a nearly four-week high, touched the previous day.
Forex
The British Pound (GBP) is marginally higher to near 1.3285 against the US Dollar (USD) in the Asian trade on Friday, extending its Thursday’s strong recovery move. The GBP/USD pair has bounced back sharply from its fresh 10-month low of 1.3137 posted on Wednesday at the expense of the US Dollar.
Commodities
Silver (XAG/USD) stages a rebound on Thursday after sliding nearly 6% the previous day.
Forex
The British Pound (GBP) retraces Wednesday’s losses against the US Dollar (USD) on Thursday, as upbeat UK macroeconomic data has offset the negative impact of Bank of England’s (BoE) Chief Economist Huw Pill's comments.
West Texas Intermediate (WTI) oil price pares its daily losses, remaining in negative territory and trading around $94.00 per barrel during European hours on Thursday.
Forex
The NZD/USD pair trades in positive territory around 0.5605 during the early European trading hours on Thursday, bolstered by a weaker US Dollar (USD) and a sharp drop in US Treasury bond yields.