WORLD MARKETS

World Markets Daily News – In Brief – Thursday 01/12/2022

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. THE SYDNEY MORNING HERALD

ASX hits seven-month high after Fed chief sparks Wall Street rally

Australia’s sharemarket closed higher on Thursday after stocks in the US surged following Jerome Powell indicating the Fed is likely to slow the pace of interest rate rises

. RTT NEWS

Asian Shares Rise On Powell’s Dovish Tilt

Asian stocks rose notably on Thursday after Federal Reserve Chair Jerome Powell hinted at slowing the pace of rate hikes

. CNBC

European stocks hit six-month high after Fed hints at smaller rate hikes

European markets were higher on Thursday after U.S. Federal Reserve Chair Jerome Powell said smaller interest rate hikes could begin in December

. REUTERS

Oil rises ahead of OPEC+ meeting, easing China Covid curbs lend support

Oil rose on Thursday supported by investor wariness that OPEC+ may cut supply further at its meeting on Sunday and as easing Covid curbs in China raised hopes about higher demand in the world’s top crude importer.

Gold gains as smaller U.S. rate-hike prospects pressure dollar

Gold prices extended gains for a third straight session on Thursday, as the dollar slipped after Federal Reserve Chair Jerome Powell said the U.S. central bank might scale back the pace of its interest rate hikes as soon as December

. THE FINANCIAL TIMES

European stocks rise on hint of slower Fed interest rate increases

. THE WALL STREET JOURNAL

EU Asks Members to Set Russia Oil-Price Cap at $60

The price cap is the West’s attempt to squeeze the Kremlin’s oil revenues while keeping oil supplies steady and avoiding an increase in global energy prices