The British pound was struggling for direction against the dollar and the euro before key economic data due later this week that could make or break the case for more rate cuts from the Bank of England.
Crypto investment products failed to attract enough inflows last week to reverse negative sentiment and clocked a fourth consecutive week of outflows. Crypto exchange-traded products recorded $173 million in outflows, following the previous week’s $187 million.
U.S. stock investors will be on guard next week for further volatility induced by fears of artificial intelligence disruption as they also assess the durability of a rotation beneath the market’s surface, along with upcoming earnings from Walmart and fresh economic data.
The U.S. eased sanctions on Venezuela’s energy sector, issuing two general licenses that allow global energy companies to operate oil and gas projects in the OPEC member and for other companies to negotiate contracts to bring in fresh investments.
Elon Musk’s SpaceX is considering a dual-class share structure in its planned IPO this year. The space firm, which acquired Musk’s artificial-intelligence startup xAI, is planning a blockbuster public offering this year that could value it at over $1.5 trillion.
Gold prices fell to a near one-week low as strong U.S. labour data dampened hopes of near-term Federal Reserve rate cuts, with a break below $5,000 an ounce deepening losses as selling pressure intensified.
