|09 October, 2019

Wednesday outlook: Oil prices, Asian shares drop, gold firms

Negotiators from the world's top two economies will meet in Washington on Thursday and Friday in the latest effort to hammer out a deal aimed at ending a long-running trade dispute that has slowed global economic growth

Towers at an oil refinery in the southern Sydney suburb of Kurnell are silhouetted against a cloudy sky August 6, 2004.

Towers at an oil refinery in the southern Sydney suburb of Kurnell are silhouetted against a cloudy sky August 6, 2004.

REUTERS/Tim Wimborne

Zawya brings you all the latest news and insights relevant to Middle East and global investors in equities, commodities and currencies.

Oil prices extend slide to third straight day, U.S.-China trade doubts grow

Oil prices slipped for a third consecutive session on Wednesday as the prospect of the United States and China striking a trade deal in talks this week dimmed, raising uncertainties for global economic growth and oil demand.

Asian stocks swoon on signs of prolonged U.S.-China standoff

Asian stocks fell the most in a week on Wednesday as the United States and China’s broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.

Mideast Stocks: Oil price fall weighs on Gulf markets, Saudi leads losses

All major Gulf stock markets traded lower on Tuesday with financial shares suffering the biggest losses across the region amid declining oil prices.

Dollar slips versus yen as trade tensions weigh

The dollar fell 0.18% to 107.09 yen. The Japanese currency tends to benefit during geopolitical or financial stress as Japan is the world’s biggest creditor nation

Gold firms as U.S.-China trade dispute worsens ahead of talks

Gold prices firmed on Wednesday as tensions between the United States and China ratcheted up ahead of crucial trade talks later this week, sapping risk appetite, while concerns over Brexit added to bullion’s safe haven appeal.


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