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Oil prices declined on Wednesday after industry data revealed that U.S. crude inventories increased more than anticipated. Despite this, crude futures are still up about 3% this week as traders account for ongoing conflict in the Middle East.Brent crude futures fell 73 cents, or 1%, to $75.31 a barrel by…

In today’s market outlook, Mike Dolan highlights the strengthening dollar, which has reached its highest levels in nearly three months against the euro and yen, fueled by rising U.S. Treasury yields amid pre-election jitters. As the International Monetary Fund (IMF) holds its annual meeting and G7 finance ministers and central…

South Africa’s headline consumer inflation declined slightly more than anticipated in September, dropping to 3.8% year-on-year from 4.4% in August, according to data released by the statistics agency on Wednesday.On a month-to-month basis, inflation remained at 0.1% in September, unchanged from the previous month.Economists surveyed by Reuters had projected inflation…

Vietnam plans to inject 20.695 trillion dong (approximately $815 million) into Vietcombank, the largest state-owned commercial bank, to enhance its capacity in supporting government initiatives, as announced by the Deputy Prime Minister on Wednesday.This initiative aligns with the banking sector development plan for 2025 and the restructuring and bad debt…

The U.S. dollar held steady at a 2.5-month high on Wednesday as investors recalibrated their expectations for a gradual interest rate decrease, while also keeping an eye on the competitive presidential election.The yen remained under pressure as the dollar and U.S. Treasury yields rose, pushing it to a three-month low.The…

Gold prices reached a record high in Asian trading on Wednesday, continuing a trend of recent increases driven by concerns over a tight U.S. presidential race and ongoing tensions in the Middle East, which fueled safe-haven demand.The yellow metal’s strength persisted despite the dollar reaching a near three-month peak, as…

China’s economy expanded by 4.6% from July to September, according to official data, marking its slowest growth since early 2023 and falling short of the 4.7% growth seen in the second quarter. The struggling property sector continues to pose a significant challenge for Beijing.In response, authorities in the world’s second-largest…

Russia aims to use the BRICS summit to highlight the growing influence of the non-Western world, but its partners—China, India, Brazil, and Arab nations—are pressing President Vladimir Putin to find a resolution to the conflict in Ukraine.The BRICS group now represents 45% of the global population and 35% of its…

InterContinental Hotels Groupannounced a 1.5% increase in revenue per available room (RevPAR) for the third quarter, primarily driven by strong demand in the EMEA region.However, these results were somewhat offset by sluggish conditions in the U.S. market and ongoing challenges in China, as stated by the company.The EMEA region stood…

Bitcoin’s price dropped on Tuesday, retreating from recent three-month highs as growing risk aversion—fueled by anticipation of a tight U.S. presidential election—affected cryptocurrency markets.Initial speculation about a potential Donald Trump victory had boosted crypto prices, but recent polls indicate a close race between Trump and Vice President Kamala Harris, which…