Asian stocks held near a six-year high, with the regional index set for the longest run of weekly advances since August 2013, while gold dropped from a two-month high. Brent crude headed for a second week of increases on violence in Iraq, and zinc led gains in industrial metals.
The MSCI Asia Pacific Index lost 0.1 percent by 11:45 a.m. in Tokyo, after closing at the highest level since 2008. Standard & Poor’s 500 Index futures were little changed after the gauge reached a record. Gold slid 0.6 percent and zinc climbed to a 16-month high. Brent has risen 1.3 percent this week. The Bloomberg Dollar Spot Index retreated a third day as currency volatility sank to the lowest ever.
A gauge of global equities surged to a record this week as Federal Reserve Chair Janet Yellen said U.S. interest rates will remain low. Commodities led by oil and gold reached a 10-month high as President Barack Obama said he’s sending as many as 300 U.S. military advisers to assist the Iraqi army battle an insurgency and is prepared to take more action.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.