Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
U.S.-Indonesia Trade Deal Faces Uncertainty as Jakarta Reconsiders Key Commitments 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
U.S. Open to Special Trade Terms for South Africa Under Possible AGOA Extension 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Silver Prices Surge to New Record Above $60 as Supply Concerns and Fed Expectations Boost Demand 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Oil prices edged higher on Thursday following a steep decline the previous day, as investors weighed signals of potential increased output from Saudi Arabia and a weaker U.S. economic outlook. Brent crude futures rose by 16 cents, or 0.3%, to $61.22 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 6 cents, or 0.1%, to $58.27. Both benchmarks had previously closed at their lowest levels in nearly four years.
Market sentiment shifted after reports emerged that Saudi Arabia has been informing allies and industry stakeholders that it does not intend to support prices through further supply cuts and is prepared to endure an extended period of low oil prices. Additionally, sources familiar with internal discussions said several OPEC+ members may propose a second consecutive monthly increase in oil output at the June meeting.
Meanwhile, concerns about weakening global demand intensified after the U.S. economy contracted for the first time in three years during the first quarter. The decline was attributed to a surge in imports, as businesses moved to avoid higher tariffs imposed under President Donald Trump’s trade policy. According to a Reuters poll, these tariffs could tip the global economy into recession this year.
Increased trade tensions between the U.S. and China, combined with OPEC+ plans to gradually unwind supply restrictions, are expected to pressure oil prices throughout 2025. A Reuters survey of 40 economists and analysts projected Brent crude to average $68.98 a barrel next year, down from the previous month’s $72.94 forecast, while WTI is expected to average $65.08, lower than the prior $69.16 estimate.
Despite demand concerns, U.S. crude stockpiles unexpectedly fell by 2.7 million barrels last week, driven by stronger exports and refinery consumption, according to the Energy Information Administration.
