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 White House says a meeting between Vice President JD Vance and Danish officials over Greenland was "productive."...
Venezuelan opposition leader Maria Corina Machado left the White House on Thursday, describing her first in-person meeting with President Donald Trump...
European countries have sent small numbers of military personnel to Greenland as Denmark moves ahead with plans for a larger NATO presence on the isla...
At least four people were injured after a large fire and explosions hit a residential building in the Dutch city of Utrecht, authorities said....
Israel said on Thursday that its forces struck Hezbollah positions across several areas in Lebanon after accusing the group of repeated ceasefire viol...
The White House says a meeting between Vice President JD Vance and Danish officials over Greenland was "productive."
Venezuelan opposition leader Maria Corina Machado left the White House on Thursday, describing her first in-person meeting with President Donald Trump as 'very well'.
At least four people were injured after a large fire and explosions hit a residential building in the Dutch city of Utrecht, authorities said.
Save the Children has pledged to expand maternal and child health services across Afghanistan after its new country director met the country’s public health minister in Kabul on Wednesday.
The Trump administration will suspend all visa processing for visitors from 75 countries beginning 21 January 2026, according to a State Department memo reported by media.
Saudi Arabia has informed Iran that it will not allow its territory or airspace to be used for any military action against Tehran, according to two sources close to the kingdom’s government cited by AFP.
At least four people were injured after a large fire and explosions hit a residential building in the Dutch city of Utrecht, authorities said.
Sweden is sending a group of military officers to Greenland at Denmark’s request, Prime Minister Ulf Kristersson said on Wednesday, as Nordic countries and NATO allies step up coordination around the Arctic territory.
Boeing booked more aircraft orders than Airbus in 2025 for the first time since 2018, official figures showed, even as the European manufacturer delivered more planes during the year.
The UK economy grew more strongly than expected in November, according to official figures, offering signs of resilience after months of weak performance.
China recorded the world’s largest-ever trade surplus in 2025, reaching $1.2 trillion as exporters shifted focus away from the U.S. amid ongoing trade tensions.
A coalition of women’s rights organisations, technology watchdogs and progressive campaigners is urging Apple and Google, owned by Alphabet, to remove the social media platform X and its associated chatbot, Grok, from their app stores.
Boeing booked more aircraft orders than Airbus in 2025 for the first time since 2018, official figures showed, even as the European manufacturer delivered more planes during the year.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment