Syria, Israel to resume talks in Baku as U.S. joins negotiations
Syria and Israel are expected to restart negotiations in Baku, according to Saudi broadcaster Al-Hadath, which cited unnamed sources close to the proc...
SINGAPORE, Nov 22 (Reuters) - Gold was headed for its largest weekly gain in nearly eight months on Friday and the euro hovered at a 13-month low as Russia lowered its threshold for using nuclear weapons and fired a hypersonic ballistic missile at Ukraine.
The risk of escalation also sent European gas prices to a one-year high and pushed investors towards safe havens, underpinning German debt and putting the Swiss franc on course for its first weekly rise in two months.
In Asia on Friday, chipmakers led stocks a little higher after Nvidia (NVDA.O), ouched a record high in U.S. trade on solid earnings, with shares in Taiwan (.TWII), and South Korea (.KS11) up more than 1% and the Nikkei (.N225), opens new tab gaining 0.8%.
Gold was steady at $2,677 an ounce and up more than 4.5% for the week so far while bitcoin , stood on the brink of breaking above $100,000 for the first time.
Assets linked to Adani Group companies remained under pressure, with dollar bonds nursing losses following chairman Gautam Adani's indictment for fraud by U.S. prosecutors.
Russia on Tuesday lowered its threshold for using nuclear weapons and overnight responded to the U.S. and UK allowing Kyiv to strike Russian territory with western weapons by firing a hypersonic intermediate-range missile at Ukraine's Dnipro.
"Those weapons typically carry nuclear warheads," said analysts at ANZ Bank, noting the attack sent oil prices higher.
"The exchange indicates the war has entered a new phase, raising concerns around disruptions to supply."
Brent crude futures are up nearly 4.5% on the week and edged up to touch a two-week high of $74.44 a barrel in Asia trade.
The euro has been friendless and down for seven of the past eight weeks as Europe faces U.S. tariffs, slowing growth, the collapse of Germany's government and strains in France's government over its 2025 budget.
"There doesn't seem to be anything on the plus side of the euro ledger just at the moment," said National Australia Bank's head of FX research, Ray Attrill.
At $1.0469 the common currency is close to breaking support at last year's low of $1.0448. European stocks (.STOXX) are also headed for a fifth weekly drop in a row, while world stocks (.MIWD00000PUS) are up 1% this week.
The dollar index eyed a weekly gain of 0.4% and traded at 107.05. S&P 500 futures were flat. Benchmark 10-year Treasury yields held at 4.432%, more or less steady on the week.
Markets imply about a 58% chance of a Fed cut, down from 83% a week earlier.
Data in Japan showed core inflation held above the central bank's 2% target in October, keeping pressure for a rate rise. Markets are pricing about a 57% chance of a 25 basis point Bank of Japan rate hike in December and the prospect has injected some volatility and even support for the yen .
The yen, down 4% this quarter, was trading firmer at 154.38 per dollar in morning trade.
"Together with speculation about (finance ministry) intervention, I think selling on upticks on dollar/yen is quite decent," said Keita Matsumoto, head of financial institution sales and solutions at Citigroup Global Markets Japan in Tokyo.
"Our investor clients and corporate clients are rather sellers of dollar/yen close to 155."
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Türkiye has secured €2.4 billion ($2.8 billion) in green financing for a railway project aimed at establishing a direct rail connection to Azerbaijan's Nakhchivan exclave.
UK has announced fresh sanctions to crack down Russia's so-called "shadow fleet", targeting 135 oil tankers along with two Russian firms, shipping company Intershipping Services LLC and oil trader Litasco Middle East DMCC.
China’s June exports of rare-earth permanent magnets to the U.S. have skyrocketed by 660%, reaching 353 metric tons, as Beijing lifted earlier restrictions under a new trade pact—though volumes remain below June 2024 levels amid ongoing supply chain recovery.
China is set to prohibit the resale of new cars within six months of registration, aiming to end the practice of inflating sales through so-called 'zero-mileage' used vehicles and restore transparency in the competitive auto market.
Oil prices fell below the key $70 per barrel mark last week as increased output from OPEC+ eased supply concerns, while renewed U.S. tariff threats under President Donald Trump weighed on global demand expectations.
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