Asian stocks were off to a dismal start to the week on the back of offshore declines and as the fall in commodity prices continues to sap risk appetite.
West Texas Intermediate (WTI) oil futures shed 0.2 percent to $48.04 a barrel in early Asian trade, while Brent crude opened flat at $54.59 a barrel. Meanwhile, spot gold dipped 0.3 percent, touching $1,095.50 an ounce early Monday. For the past five sessions, the precious metal tumbled over 3 percent, hurt by expectations that the Federal Reserve is on track to raise interest rates for the first time in nearly a decade.
Wall Street handed over a negative lead, with the U.S. indexes finishing about 1 percent lower each on Friday, as signs of slower global growth weighed on sentiment.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015