While Saudi Arabia said its cut is a precautionary measure that is aimed at supporting the stability of the market, experts are positive that many OPEC nations do not want to relive the crash that followed the 2008 crisis.
The CME Group said the new event contracts on Bitcoin futures provide a limited-risk, highly transparent way for a wide range of investors to access the Bitcoin market via a fully regulated exchange.
2022 demand for gold swelled to a high not seen since 2011 on the back of vigorous buying by global central banks.
When most of the legacy stocks perform well, there is always a significant rub-off on the Dow Futures.
Gold price is on a steady rise, and analysts opine it could further benefit from a string of 2023 fiscal policies.
While both assets fell sharply in the past year, spot gold is up marginally year-on-year by about 0.23%. Comparatively, Bitcoin has plunged by more than 60%.
The tighter crude supplies in Europe are easing up as refiners are filling up the stock ahead of the December 5 European Union embargo on Russian crude.
Goldman Sachs says that it cut its oil forecast by $10 due to some macroeconomic factors regarding China and Russia.
The OPEC+ have surprised the western nation by announcing larger-than-expected production cuts which could drive oil prices higher by the year end.
The perpetual future will track the performance of a group of four global currencies against the US dollar.
After five straight sessions of negative closing, the US equity indices are recovering in the early trading on Tuesday.
The Consumer Price Index (CPI) report for the month of August is billed to be released on Tuesday.
The energy situation is very delicate as demand is also slowing in China according to key economic data. The country saw its crude oil imports slump by 9.4% in August when compared to the year-ago period.
The hopes of recovery for many foreign currencies against the US Dollar are deemed in the short term considering the fact that many Central Banks are expecting a hike in interest rate to combat inflation.
The stock futures and the broader market is bound to see more pricing pressures with the proposed interest rate hike as planned by Federal Reserve officials.