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Bitcoin plunged to a six-month low as fading Federal Reserve rate cut hopes and a broader sell-off in risk assets impacted cryptocurrencies. Investors are wary of upcoming economic data following a government shutdown. Experts note Bitcoin's correlation with equities, suggesting a lack of risk appetite is dampening enthusiasm for digital assets. Long-term holders are also accelerating profit-taking.
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News and Media
The US dollar saw gains against the euro and remained steady against the yen. Stock markets rebounded after a sharp decline. Traders are closely watching for clues on whether the Federal Reserve will cut interest rates in December. A significant amount of economic data, delayed by the government shutdown, is set to be released soon.
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News and Media
Friday saw an unexpected rise in oil prices, triggered by a Ukrainian drone strike that targeted Russia's Novorossiisk port, stopping oil exports in their tracks. With this surprising turn of events, global concerns about oil supply intensified, leading to notable increases in Brent and West Texas Intermediate crude futures.
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News and Media
Gold prices experienced a significant 3% drop on Friday, influenced by hawkish U.S. Federal Reserve remarks that dampened expectations for a December interest rate cut. Despite the dip, gold remains up for the week. This market movement reflects broader equity sell-offs and investor caution amid economic uncertainty and a lack of clear data.
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News and Media
The Ministry of Consumer Affairs is proposing to lift export restrictions on wheat products like aata, maida, and suji, with a proposed limit of 1 million tonnes. This move comes as India anticipates a bumper wheat crop in 2025-26, following a ban imposed in 2022 due to production concerns.
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News and Media
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