interest rate
Brent crude futures for December delivery dropped 0.5 percent to $78.98 a barrel
Market focus now shifts to U.S. Producer Price Index (PPI) report due today
Fitch expects rates to reach 4.5 percent at the end of 2024 and 3.5 percent at the end of 2025, boosting Q4 and 2025's issuance activity
Traders are currently pricing an 84.7 percent chance of a 25-basis-point cut in November
Brent crude futures for December delivery climbed 0.4 percent to $76.89 a barrel
U.S. dollar index rose 0.06 percent to 102.61 earlier in the session, inching closer to the seven-week high it recorded last week
Investor focus now shifts to the Fed's latest policy meeting minutes due on Wednesday and inflation data due on Friday
Traders are currently pricing a 95.7 percent chance of a 25-basis-point rate cut in November
The dollar fell 0.1 percent from a month-long high, making gold priced in dollars more affordable for foreign buyersÂ
The dollar index continued its rebound, gaining 0.10 percent to 101.78, and making gold more expensive for other currency holders
The U.S. dollar held onto its gains, rising 0.08 percent to 101.28, and making gold more expensive for other currency holders
