Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and U.S. states begin to restart after coronavirus lockdowns. West Texas Intermediate crude climbed $1.37, or 3.87%, to settle at $36.81 per barrel. Brent crude rose 2.7%, or $1.04, to $39.36 a barrel. The Organization of the Petroleum Exporting Countries and others including Russia, a grouping known as OPEC+, are considering extending their production cuts of 9.7 million barrels per day (bpd), or about...

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The dollar rose to a two-year peak against the euro and hit a two-month high versus the yen on Thursday as U.S. Federal Reserve Chairman Jerome Powell ruled out a lengthy easing cycle after delivering the first rate cut since the financial crisis. In a widely expected move, the U.S. central bank cut rates by 25 basis points to shore up the economy against risks including trade friction. The...

Oil futures finished higher on Wednesday, with U.S. prices up a fifth consecutive session as government data showed that domestic crude inventories dropped for a seventh week in a row, the longest stretch of declines in a year and a half. Prices had also climbed in the wake of the Federal Reserve's decision Wednesday afternoon to cut its key interest rate by a quarter percentage point . West...

Gold futures finished with a loss on Wednesday, then extended their decline after the U.S. Federal Reserve cut key interest rates by a quarter point, as expected. December gold was at $1,430.60 an ounce in electronic trading shortly after the Fed policy statement. The contract had settled down $4, or 0.3%, at $1,437.80 on Comex, ahead of the Fed news. Source : Marketwatch

Sterling bounced back above $1.22 on Wednesday, enjoying a respite after four days of falls that took it to the lowest in 2-1/2 years earlier in the week. Most analysts see the rebound as temporary however, with more weakness likely if news headlines in coming days are seen as raising the probability of Britain crashing out of the European Union without any transition arrangements in...

Gold futures drifted higher Wednesday, heading for a fourth straight gain, ahead of a Federal Reserve decision on interest rates that could set the near-term tone for the precious metal. August gold on Comex added $2.60, or 0.2%, to trade at $1,432.30 an ounce, after gaining 0.7% for a third consecutive gain on Tuesday. The most active December contract picked up $2.20, or 0.2%, to trade at...

Oil prices are expected to be range-bound near current levels this year as slowing economic growth and a protracted trade dispute curb demand, a Reuters monthly poll showed, squeezing gains stemming from production curbs and Middle East tensions. A survey of 54 economists and analysts forecast Brent crude  would average $67.47 a barrel in 2019, little changed from the $67.59 seen in last...

The dollar was holding steady against a currency basket on Wednesday ahead of the Federal Reserves rate decision later in the day where policymakers were widely expected to deliver their first rate cut in more than a decade. With a quarter percent rate cut already priced in, the main focus was on whether the Fed would leave the door open for further policy easing in a bid to insulate the...

The British pound recovered slightly on Wednesday in Asia after falling to near two-year lows in the previous session amid the increasing likelihood of a disruptive Brexit on October 31. The GBP/USD pair inched up 0.1% to 1.2155 by 12:30 AM ET (04:30 GMT). The safe-haven yen was also near flat despite falling stock markets in Asia today. The USD/JPY pair last traded at 108.56, down 0.02%. The...

PRECIOUS METALS
Gold futures post second straight loss
Wednesday, 3 June 2020 01:24 WIB Gold futures on Tuesday posted a second consecutive session decline, with profit-taking and strength in global stock markets the key reasons cited...
ENERGY
Oil rises nearly 4% ahead of OPEC+ meeting, easing lockdowns
Wednesday, 3 June 2020 01:48 WIB Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference...
CURRENCIES
Pound Climbs Above $1.25 to 1-Month High, Brexit Hopes Support
Tuesday, 2 June 2020 15:17 WIB Sterling climbed above $1.25 to its highest in a month against the dollar on Tuesday, as signs Britain might be willing to compromise on sticking...

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