Oil Futures Steady After Strong Losses Last Week: West Texas Intermediate crude futures settled above $72 a barrel on Monday
after sharp declines last week as investors continued to monitor developments in the Middle Eas

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Gold Continues Decline After Strong US Jobs Data
Oil Futures Steady After Strong Losses Last Week
Japanese Yen at Its Lowest Levels in Over Two Months

Gold Continues Decline After Strong US Jobs Data

Gold continued its decline to $2023 per ounce on Monday, extending losses from the previous session,
as strong US economic data and strict signals
from the Federal Reserve affected sentiment regarding interest rate cuts.
Friday’s data showed that the US economy added 353,000 jobs in January,
far exceeding market expectations of 180,000.
Federal Reserve Chairman Jerome Powell also pledged in an interview with “60 Minutes” aired on Sunday
that the central bank would proceed cautiously with interest rate cuts this year
and wait for more evidence that inflation is sustainably moving toward 2%.
He added that the Federal Reserve is likely to move much more slowly than the market expects.
Traders have now reduced their bets on a rate cut in March to only 20% and see a total easing of around 137 basis points this year,
down from 150 basis points at the end of last year.

Oil Futures Steady After Strong Losses Last Week

West Texas Intermediate crude futures settled above $72 a barrel on Monday
after sharp declines last week as investors continued to monitor developments in the Middle East.
Oil prices fell by more than 7% last week as progress in ceasefire negotiations between Israel and Hamas
eased concerns about supply disruptions from the region.
Fading expectations of immediate rate cuts by the US Federal Reserve and ongoing concerns
about economic recovery in China also impacted global demand outlooks.
Meanwhile, the United States announced it would carry out further military action against the Houthi group,
increasing tensions in the Middle East despite its insistence that it does not seek broader conflict in the region.

Japanese Yen at Lowest Levels in Over Two Months

The Japanese yen fell to over 148 yen to the dollar, reaching its lowest levels in over two months,
as stronger-than-expected US jobs report and Federal Reserve Chairman Jerome Powell’s dismissal
of early US interest rate cuts this year dashed hopes.
Powell pledged in an interview with “60 Minutes” aired on Sunday that the central bank
would proceed cautiously with interest rate cuts this year
and wait for more evidence that inflation is sustainably moving toward 2%.
He added that the Federal Reserve is likely to move much more slowly than the market expects.
At the same time, markets remain divided over whether the Bank of Japan will end its negative interest rate policy this year,
with the timing of such a decision continuing to be delayed due to recent data indicating ongoing economic challenges domestically.
Manufacturing activity remains weak while consumer spending grows less than expected.

Oil Futures Steady After Strong Losses Last Week

Oil Futures Steady After Strong Losses Last Week

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