Oil prices snapped their two-day rally on Friday on U.S.-China angst, but still managed to finish the week higher on suggestions that OPEC+ production cuts will continue until June. U.S. West Texas Intermediate and U.K. Brent crude settled down about 1% on the day and steady on the week. The disparity came as traders tried to balance out China™s latest dare against U.S. tariffs with Russia™s assurance that it had its ally OPEC™s back on output reductions. Some even noted that the futures market in crude seemed to be aligning with higher physical prices -- a rare occurrence...

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Sterling rose on Monday after a newspaper report said that goods shipped to Britain from the European Union could be waved through without checks in the event of a "no-deal" Brexit. The Sun newspaper report that British customs will avoid checking goods from the EU for a temporary period to avoid hold ups at ports sent the British currency over the $1.31 line. At 15:20 GMT sterling was up 0.1...

Gold futures met with modest selling early Monday, in part as a leading dollar index gained, though most analysts considered the action to be only a pause for golds recent climb. April gold fell $7, or 0.5%, to $1,315.20 an ounce. The ICE U.S. Dollar Index was up 0.2%, making commodities priced in the greenback less attractive to users of other currencies. And major stock indexes were...

Oil held gains near a two-month high after data showed U.S. production growth slowing at a time when OPEC cuts and American sanctions on Venezuela have already eased concerns over a supply glut. Futures in New York rose as much 0.9 percent to reach the highest intraday level since Nov. 21, after adding 2.7 percent Friday. OPECs crude output fellthe most in two years in January,...

Sterling fell towards a one-week low on Monday as Prime Minister Theresa May met lawmakers to try and overcome a parliamentary impasse that has raised fears among investors about a disorderly 'no-deal' Brexit. The pound has held on to most of the gains it racked up in January despite there being less than two months until Britain is due to leave the European Union on March 29 and without an...

The dollar edged higher on Monday, breaking a two-week losing streak as strong U.S. jobs data propped up the greenback in a market broadly cautious on the outlook for risky assets. With much of Asia out on holidays this week, the dollar also took heart from the recently concluded trade talks between China and the United States with the dollar set for its biggest two-day rising streak against...

Gold dropped for a second day as the dollar strengthened after better-than-expected U.S. nonfarm payrolls pointed to healthy economic expansion, curbing the appeal of havens. Spot gold -0.4% to $1,313.07/oz at 7:32am in London; -0.3% Friday. Metal +1% last week after +1.8% week earlier. The metals 14-day relative strength index rose above 70 last week, indicating the metal may have...

Oil prices were stable on Monday, largely maintaining gains from the previous session as OPEC-led supply cuts and U.S. sanctions against Venezuela provided the market with support. International Brent crude oil futures were at $62.76 per barrel at 0507 GMT on Monday, 1 cent above their last close. Brent rose by more than 3 percent in the previous session to their highest close since Nov....

The European currency has started the week on a negative note and is now forcing EUR/USD to recede to the 1.1440 region, home of the 100-day SMA. EUR/USD now focused on data Spot appears to be consolidating in the lower bound of the recent range, with the key 100-day SMA providing strong support for the time being. In the meantime, market participants continue to digest the recent publication...

PRECIOUS METALS
Gold Steady as Trump, Xi Telegraph More Trade Uncertainty
Saturday, 23 November 2019 03:43 WIB When nothing looks clear, just hold. That seems to be the guide for gold traders these days as the constant back-and-forth in U.S.-China trade...
ENERGY
Oil Topples From 2-Month High on Concern Over US-China Trade Deal
Friday, 22 November 2019 18:44 WIB Oil prices pulled back from their highest levels in nearly two months on Friday amid lingering doubts on whether the United States and China will be...
CURRENCIES
Dollar Rises After Upbeat U.S. Data; Trade Uncertainties Remain
Friday, 22 November 2019 23:25 WIB The U.S. dollar rose against a basket of currencies on Friday after data showed U.S. factory and services activity quickened in November in a sign...

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