Oil dips as rising US drilling offsets talk of an OPEC-led cut extension
SINGAPORE Oil prices dipped on Monday as rising U.S. drilling activity outweighed talks that an OPEC-led production cut initially due to end in mid-2017 may be extended.
MUNICH The troubles in Italy's banking sector are not having any impact on the mood in corporate boardrooms around Germany and neither is the election of U.S. Republican Donald Trump, an economist at the Ifo institute said on Monday.
"The Italian crisis is not having any effect. The markets know that the ECB (European Central Bank) is ready to use a fire extinguisher," said Ifo economist Klaus Wohlrabe.
Ifo's business climate index rose to its highest level in almost three years in December. Wohlrabe said the falling euro was making industrial firms more upbeat while German consumers were still spending freely.
(Reporting by Joern Poltz; Writing by Michelle Martin)
Gold rose over 1 percent to touch a one-month high on Monday as the dollar slid after President Donald Trump's failure to pass healthcare reform raised doubts over his ability to push through his economic agenda.
TOKYO Bank of Japan board members said easy monetary policy will be in place for some time because consumer price growth is still distant from the central bank's 2 percent inflation target, a summary of opinions from their March 15-16 meeting showed on Monday.