The U.S. dollar rose against a basket of currencies on Friday, putting it on track for its first weekly increase in three, prompted by hopes of progress in U.S.-China trade talks and that the Federal Reserve would not lower rates aggressively.
Stocks in Asia Pacific edged up on Friday as investors digested a series of developments overnight on the U.S.-China trade front that dampened hopes of a deal being reached between the two economic powerhouses.
Palladium peaked to an all-time high on Thursday, while gold gained on a weaker dollar and as investors looked for clarity on future U.S. interest rates after the Federal Reserve on Wednesday signaled a higher bar to further monetary easing.
Oil prices rose sharply Thursday, supported by supply risks brought by last weekend's drone attacks on Saudi oil supply and a U.S. rate cut.
The U.S. dollar was mixed on Thursday morning, weaker against the euro, the Swiss franc and the Japanese yen, but stronger versus the Antipodean currencies after a slew of central bank decisions came in more hawkish than expected.
The U.S. Federal Reserve on Wednesday cut its overnight rate by 25 basis points to a range of 1.75% to 2%, a move that was widely expected. The central bank, however, appeared divided on further action for the year.
Oil prices retreated after President Donald Trump said he ordered the Treasury Department to "substantially increase" sanctions on Iran.
The dollar firmed on Wednesday after the Federal Reserve cut interest rates by a quarter of a percentage point, as expected, but gave an uncertain outlook on future easing.
Investors await the Fed's latest decision on monetary policy, set to be released on Wednesday stateside. The U.S. central bank is widely expected to cut rates by 25 basis points.
European stocks closed slightly lower Tuesday as investors monitored the fallout from the weekend attacks on Saudi Arabia's oil supply.
West Texas Intermediate futures as well as the international benchmark Brent both gained more than 14% in the overnight session.
The dollar fell on Tuesday in choppy range-bound trading on the eve of an expected U.S. interest rate cut from the Federal Reserve, with markets anxious about an overnight spike in dollar funding costs.
Gold rose on Tuesday, propped up by expectations for an interest rate cut by the U.S. Federal Reserve, but traded within a relatively narrow range as investors awaited further clarity on the central bank's stance on future monetary policy.
Oil prices slid on Tuesday, although the market remains on tenterhooks over the threat of a military response to attacks on Saudi Arabian crude oil facilities.
U.S. government debt prices rose on Monday morning as investors fled risk after attacks on Saudi oil production facilities escalated tensions in the Middle East.
European stocks closed lower Monday as investors digested an escalation of tensions in the Middle East following an attack on Saudi oil production.
Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the start of the Gulf War in 1991, after an attack on Saudi Arabian oil facilities on Saturday shut in the equivalent of 5% of global supply.
Gold prices jumped 1% on Monday as attacks on Saudi Arabia's oil facilities dented risk appetite, boosting demand for the safe-haven bullion.
The dollar rose against a basket of currencies on Monday as U.S. President Donald Trump's authorization of the use of an emergency crude stockpile in response to drone attacks on Saudi Arabian refining facilities cooled a surge in oil prices.
Oil prices spiked in the afternoon of Asian trading hours after drone strikes on crucial production facilities in Saudi Arabia. Shares of oil companies in Asia surged on Monday.