U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Oil prices fell on Thursday as optimism over potential peace talks between Ukraine and Russia raised hopes of easing sanctions, while U.S. President Donald Trump's tariff threats fueled economic concerns.
Brent crude dropped 55 cents (0.73%) to $74.63 per barrel, while U.S. West Texas Intermediate (WTI) fell 52 cents (0.73%) to $70.85. This followed a more than 2% decline on Wednesday after Trump stated that Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy were open to peace talks. The U.S. has begun discussions to end the war, which has disrupted global oil supplies.
Russia, the world’s third-largest oil producer, has faced sanctions since its 2022 invasion of Ukraine. Analysts at ANZ noted that oil prices declined due to optimism that supply risks could ease. U.S. and EU sanctions have constrained Russia’s oil output, tightening supply and pushing up prices.
In addition to geopolitical factors, Trump’s proposal for reciprocal tariffs raised fears of a global trade war, potentially slowing economic growth and reducing oil demand. He pledged to impose new duties on countries taxing U.S. imports, adding to inflation concerns.
A larger-than-expected build in U.S. crude inventories also pressured prices. The Energy Information Administration (EIA) reported a 4.1 million-barrel increase in crude stockpiles to 427.9 million barrels for the week ending Feb. 7, surpassing analysts' forecast of a 3 million-barrel rise.
Market watchers continue to monitor geopolitical developments and economic policies that could impact global oil prices in the coming weeks.
