09.12. Oil increases profits, investors await inflation data

News for today, December 9:

Stocks rallied in volatile trading on Thursday as concerns over the economic impact of Omicron continue to subside. At the same time, the growing caution of investors ahead of publication of the U.S. inflation data has limited other risky assets such as oil and the Australian dollar. Nevertheless, oil prices rose on Thursday, extending gains for the fourth straight session amid bets that oil demand will not suffer a significant downturn as a result of the spread of the new coronavirus variant.

Bonds suffered losses as a more optimistic coronavirus outlook paves the way for a sooner rate hike. Traders are focused on the publication of inflation data on Friday and on the next week’s meeting of the Federal Reserve System, where it will decide on the timing of the rate hikes. The price of Brent crude is $ 76.08 per barrel, WTI — $ 72.71. EUR/USD is at 1.1323, GBP/USD — 1.3201, gold is at $ 1,786.97 per ounce.­­­­