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Gold prices steadied on Thursday after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates.

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Lim Hui Jie & Sheila Chiang@IN/SHEILACHIANG@SHEILACHIANG

KEY POINTS

• The Japanese yen weakened to a near 38-year low late Wednesday, dropping to 160.82 against the U.S. dollar, according to FactSet data.
• Japan’s year-on-year retail sales growth for May came in at 3%, higher than the market forecast of 2%, according to a Reuters poll of economists.
• China’s industrial profits grew 3.4% year on year from January to May.

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Holly Ellyatt@HOLLYELLYATT

LONDON — European stocks are expected to open higher Wednesday, reversing negative sentiment seen in the previous trading session.

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Gold prices were subdued on Wednesday ahead of crucial U.S. inflation data due this week, which could offer more clarity on the timing of the Federal Reserve’s first interest rate cut this year.

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Lim Hui Jie & Sheila Chiang@IN/SHEILACHIANG@SHEILACHIANG

KEY POINTS

• Australia’s headline inflation rate for May is 4%, compared to the 3.6% recorded in April.
• Semiconductor-related stocks such as Advantest jumped more than 6%, while Taiwan Semiconductor Manufacturing Company, SK Hynix and MediaTek increased 1.38%, 4% and 3.25% respectively.

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Holly Ellyatt@HOLLYELLYATT

LONDON — European stocks are expected to start the new trading week in mixed territory.

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Gold prices edged up on Monday as Treasury yields fell, while investors awaited key U.S. inflation data and Federal Reserve officials’ comments through the week for fresh clues on the potential timing of the central bank’s interest rate cut.

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Lim Hui Jie

KEY POINTS

• Investors will be watching Australia’s inflation data on Wednesday, after the country’s central bank said it discussed raising interest rates at its last meeting.
• Should inflation come in higher than expected and spur the RBA to raise rates, it would be the first major Asia-Pacific central bank to do so in an environment where investors are waiting for rate cuts, barring Japan.

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Jenni Reid

LONDON — European stocks are heading for a cautiously higher open Friday as investors monitor a slew of central bank decisions and data releases.

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Gold prices were poised for a second consecutive weekly gain on Friday, driven by safe-haven demand amid tensions in the Middle East and rising bets that the U.S. Federal Reserve might reduce interest rates later this year.

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