U.S. oil futures sank to six-week lows on Monday on expectations that major producers may raise output, while Asian stocks and U.S. share futures gained on signs the United States and North Korea were still working towards holding a summit.
U.S. President Donald Trump said on Sunday a U.S. team had arrived in North Korea to prepare for a proposed summit between him and North Korean leader Kim Jong Un, which Trump pulled out of last week before reconsidering.
Donald Trump has cancelled his planned summit with the North Korean leader, Kim Jong-un, blaming his decision on a threatening statement from the Pyongyang regime, and warning that the US military is “ready if necessary”.
Improved economic conditions support financial stability environment; Risk-taking in most financial markets gained momentum; Bank profitability improved, but structural vulnerabilities remain
the inflation rate to rise slightly above 2 percent for a “temporary period,” while the economy continues to expand
Asian shares were mostly weaker on Wednesday with investors cautious after U.S. President Donald Trump tempered optimism over progress made in trade talks between the world’s two largest economic powers.
The US and China have agreed to begin bilateral trade talks, with Beijing committing to “substantially reduce” the trade deficit between the countries by boosting the amount of goods it purchases from America.
The newly-declared economic truce between the U.S. and China will prove temporary if the world’s two largest economies fail to deliver on vague commitments to re-balance trade.
Oil prices held firm on Friday on strong demand, ongoing supply cuts led by producer cartel OPEC and looming U.S. sanctions against major crude exporter Iran.
Asian stocks were steady on Friday amid caution over developments in U.S.-China trade negotiations, while the dollar perched near a five-month peak after the benchmark U.S. Treasury yield hit its highest in seven years.