The U.S. dollar held steady against major peers as investors weighed commentary from Federal Reserve officials on its monetary policy outlook, while the Swedish krona gained after the Riksbank delivered a hawkish 25-basis-point rate cut.
Oil prices settled up more than $1 a barrel after a deal to resume exports from Iraq’s Kurdistan stalled, pacifying some investor concerns that the restart would exacerbate worries about global oversupply.
All three of the major U.S. stock indexes were higher, with shares of Nvidia rising after it said it will invest up to $100 billion in OpenAI and some Federal Reserve officials expressed doubts on the need for further U.S. interest rate cuts.
Gold rose nearly 2% to an all-time high, fueled by growing expectations of further U.S. rate cuts and persistent safe-haven demand amid political uncertainty. Investors are closely watching upcoming Federal Reserve speeches and key inflation data for fresh policy signals.
The U.S. dollar snapped a three-day winning streak against the euro and Swiss franc, as markets eyed a barrage of comments from Federal Reserve officials about its latest monetary policy stance.
