Dollar feeble on soft economic data, trade uncertainties
  • June 4, 2025

Dollar feeble on soft economic data, trade uncertainties

SINGAPORE (Reuters) -The dollar drifted in muted trading on Thursday after weak U.S. economic data revived fears of slow growth and high inflation, while the euro was steady ahead of an expected interest rate cut from the European Central Bank. The soft data, which showed U.S. services sector contracted for the first time in nearly a year in May and an easing labour market, led to a rally in Treasuries and increased the odds of interest rate cuts from the Federal Reserve this year.

Oil slips on US stockpile build, Saudi Arabia price cuts
  • June 4, 2025

Oil slips on US stockpile build, Saudi Arabia price cuts

Oil edged lower on Thursday after a build in U.S. gasoline and diesel inventories and cuts to Saudi Arabia's July prices for Asian crude buyers, with global economic uncertainty weighing on prices as well. Brent crude futures fell 1 cent to $64.85 a barrel at 0630 GMT. Oil prices closed around 1% lower on Wednesday after official data showed that U.S. gasoline and distillate stockpiles grew more than expected, reflecting weaker demand in the world's top economy.

Gold Holds Gain as Soft US Data Bolster Bets on Fed Rate Cuts
  • June 4, 2025

Gold Holds Gain as Soft US Data Bolster Bets on Fed Rate Cuts

(Bloomberg) -- Gold held gains, after weaker-than-expected US data reinforced expectations that the Federal Reserve will cut interest rates at least twice this year to prevent a recession.Most Read from BloombergICE Moves to DNA-Test Families Targeted for Deportation with New ContractThe Global Struggle to Build Safer CarsNYC Residents Want Safer Streets, Cheaper Housing, Survey SaysThe Buffalo Architect Fighting for Women in DesignBullion traded near $3,375 an ounce, following a 0.6% increase o