U.S. Federal Reserve hint on interest rates, fuels global demand for risk assets

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FOREIGN EXCHANGE

ZAR

The South African rand weakened, retreating from a near six-month high, as weak economic data at home and shrinking factory activity in China dampened risk demand.

The currency surged earlier in the week after the U.S. Federal Reserve kept lending rates unchanged and hinted it would hold off on raising interest rates, fuelling global demand for risk assets.
Source: Reuters

GLOBAL MARKETS

The dollar hovered near a one-week high against the yen, buoyed by stronger-than-expected U.S. jobs and factory data, although the Federal Reserve’s cautious policy outlook and thinned holiday trade in Asia are likely to cap further gains.

Data on Friday showed that the U.S. economy created 304,000 jobs in January, the highest in 11 months, and above street estimates.
Source: Reuters

COMMODITIES

OIL

Crude oil prices slipped after gains of about 3 percent in the previous session, but they were buoyed by expectations of tightening supply and signs that China-U.S. trade tensions could ease.
Source: Reuters

GOLD

Gold prices slipped as risk aversion waned with the progress in U.S.-China trade talks, while a firm dollar kept the bullion under pressure.
Source: Reuters