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Oil Slips on Stronger U.S. Dollar, Ceasefire Hopes

Friday, 22 March 2024 15:50 WIB Minyak Minyak WTI Minyak Mentah Minyak Brent

Crude futures edge lower on a stronger U.S. dollar and as international leaders ratchet up pressure on Israel for an immediate ceasefire in Gaza. Brent crude and WTI are both down 0.3% at $85 and $80.85 a barrel, respectively. "A stronger USD outweighed the optimism of rate cuts by the Fed," ANZ analysts say in a note. "Traders are also taking stock following strong gains over the past week amid signs of strong demand." The U.S. dollar rebounded following a surprise interest-rate cut by the Swiss National Bank, making crude more expensive for international buyers. Meanwhile, the U.S. submitted a draft resolution to the United Nations Security Council calling for an immediate ceasefire...

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Gold prices slipped on Friday due to a stronger dollar, but were set for a fourth weekly rise in five as the U.S Federal Reserve retaining its interest rate cut projections for 2024 bolstered bullion’s appeal. Spot gold was down 0.4% at $2,172.72...

The U.S. dollar was set for a second week of broad gains on Friday, with even a rate hike in Japan unable to halt its march, and a surprise cut in Switzerland highlighting the gap between the Federal Reserve and global peers in interest rate...

Oil fell for a third day, with traders assessing the outlook for global interest rates and the US dollar. Brent crude dropped toward $85 a barrel after losing almost 2% over the previous two days, while West Texas Intermediate was below $81....

The dollar rose versus most Group-of-10 currencies as US data continued to exhibit signs of a robust economy. The Australian dollar fell tracking yuan losses after China’s central bank set a weaker currency reference rate. The Bloomberg...

Gold was little changed after a volatile session that saw the precious metal rocket to a fresh all-time high before retreating as the US dollar surged on upbeat economic data.    Bullion is up 1.3% this week amid cautious optimism...

Oil held a two-day drop, with traders assessing the outlook for global interest rates and geopolitical tensions in the Middle East. Brent crude traded below $86 after falling almost 2% over the previous two days, while West Texas Intermediate...

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