China
The dollar has lost more than 1 percent so far this week and is set for its worst weekly performance since April 7
The Central Bank lowered one-year loan prime rate to 3.0 percent amid economic challenges
Moody's downgrade of U.S. credit rating raises concerns about economic outlook and oil prices
Both contracts saw a rise of over 1 percent after the U.S. and China paused tariffs
Spot gold rose 0.7 percent to $3,223.55 an ounce amid global market fluctuations
The bank noted that the U.S. eonomy showed resilience as recession fears subsided
Both Brent and WTI were up 1 percent so far this week after a surge earlier in the week
Bullion has lost 3.3 percent so far this week and is set for its worst weekly performance since November 2024
The International Energy Agency (IEA) expects global oil stocks to rise by over 700,000 b/d across the year
This abrupt shift has created what the IMF terms “epistemic uncertainty” – a fundamental unpredictability about the rules governing global trade
U.S. crude stockpiles rose by 3.5 million barrels to 441.8 million barrels in the week ended May 9
