The U.S. dollar edged lower, extending its recent bout of weakness, as investors braced for a Federal Reserve rate cut next week, while the yen gained on expectations that the Bank of Japan will raise rates this month.
Oil prices rose on investors’ expectations for the Federal Reserve to cut interest rates, while stalled Ukraine peace talks tempered expectations of a deal restoring Russian oil flows. Escalating tensions between the U.S. and Venezuela were also supporting prices
The euro hit an almost seven-week high against the dollar, boosted by data showing an expansion in euro zone business activity, while weaker than expected U.S. jobs data and expectations of further U.S. rate cuts weighed on the dollar.
Salesforce raised its fiscal 2026 revenue and adjusted profit forecasts, anticipating growth from its artificial intelligence agent platform due to strong enterprise demand, sending its shares up around 5% in extended trading.
U.S. private payrolls posted their biggest drop in more than two and a half years in November as small businesses shed jobs, but the weakness is probably not a true reflection of the labor market’s health, with recent government data showing still-low layoffs.
President Donald Trump said he would be announcing his choice to succeed Jerome Powell as head of the Federal Reserve early next year, further teasing out a months-long audition process despite having said he already knows who he will pick to lead the world’s most important central bank.
