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  • Business
    Reuters

    Gold prices steady with US economic data on tap

    Gold prices fluttered in a tight range on Thursday, as investors turned their attention to U.S. economic data that could offer additional insights into when the Federal Reserve might implement interest rate reductions. Spot gold was steady at $2,309.23 per ounce, as of 0057 GMT. The U.S. weekly jobless claims data is due at 1230 GMT, and the University of Michigan's consumer sentiment reading on Friday.

  • News
    Reuters

    UPDATE 1-Australia backs long-term gas drilling despite 2050 climate goals

    Australia's Labor government on Thursday laid out a strategy to boost natural gas development even as it remains committed to net zero carbon emissions by 2050, highlighting demand from key Asian trade partners. Australia is one of the world's largest exporters of liquefied natural gas (LNG), and Resources Minister Madeline King said gas would be needed "through to 2050 and beyond" in the global shift to cleaner energy. "It is clear we will need continued exploration, investment and development in the sector to support the path to net zero for Australia and for our export partners, and to avoid a shortfall in gas supplies," she said, launching the government's Future Gas Strategy.

  • Business
    Reuters

    GLOBAL MARKETS-Asian shares subdued as China trade eyed, yen steadies after recent falls

    Asian shares were subdued on Thursday as investors awaited China trade data to gauge the health of the Chinese economy, while the yen steadied after three days of declines as Japan talked up a potential currency intervention. Later in the day, the Bank of England (BoE) will decide its interest rate policy, with all eyes on the prospects of a June rate cut following the overnight move by Sweden's Riksbank to cut rates, which underlined Europe's divergence from the U.S. Federal Reserve. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1%, hovering not far from a 15-month high hit earlier in the week after Fed Chair Jerome Powell reiterated a stance for policy easing later this year.