The U.S. dollar gained ground against major currencies including the euro and the Swiss franc after data showed a better-than-expected increase in labor market demand, indicating the Federal Reserve will likely take its time to cut interest rates.
Oil prices edged higher as investors took stock of positive demand indicators, while also treading cautiously ahead of an OPEC+ meeting to decide the group’s August output policy.
Sterling was on track for its biggest quarterly rise against the dollar in more than two years on Monday, aided by weakness in the dollar across the board and optimism over a trade deal between the United States and Britain.
Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, continued beefing up its BTC holdings last week amid rebounding investor sentiment and rising prices. Strategy acquired 4,980 Bitcoin for $531.1 million
Gold edged higher, supported by a weaker U.S. dollar, while investors hunkered down for U.S. economic data due later this week for signals on the Federal Reserve’s policy path
Oil prices edged up slightly, recovering from a drop into negative territory following a report that OPEC+ was planning to hike production in August, but tumbled about 12% in the week in their biggest drop since March 2023.
