Gold prices fall in Asia as Fed's Rosengren says 'comfortable' with November rate hike
Federal Reserve Bank President Eric Rosengren on Sunday said he would be "comfortable" with a “November rate hike”.
A view most in the market think is unlikely just before the Nov. 8 presidential election, and also added that the Federal Open Market Committee should be adjusting its balance sheet to address certain concerns in the economy.
As well as investors awaiting major macro economic data from China this week and Dollar hits 7-month high after upbeat U.S. data, rise in yields.
This week will see the European Central Bank’s post policy meeting press conference on Thursday amid speculation over whether it will further expand its stimulus program in the face of sluggish growth and inflation.
Oil prices fall on latest rise in U.S. drilling
Oil prices fell early on Monday, pulled down by a rising rig count in the United States, record OPEC-output, and slowing global economic growth which could erode fuel demand.
Fresh production records from the Organization of the Petroleum Exporting Countries (OPEC), which pumped out a record 33.6 million barrels of crude oil per day in September PRODN-TOTAL.
Also OPEC is scheduled to meet on November 30 to discuss a production cut. The producer cartel hopes non-OPEC members, particularly Russia, will join a potential cut.