Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices. A slowdown in China's economy would impact demand because China is the world's largest crude oil importer, after importing a record 10.12 million barrels per day in 2019, according to data from the General Administration of Customs. China is also the second-largest oil consumer, behind the United States. On Friday, U.S. West Texas Intermediate crude futures fell 2.5%, or $1.40, to settle at $54.19. At the session low WTI hit $53.85, its lowest level since Oct. 31. This was the fourth straight day...

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Gold futures edged higher early Friday but remained on track for a small weekly loss in the face of a stronger U.S. dollar, though bulls remained encouraged by the haven yellow metals resilience. Gold for April delivery on Comex was up $2.20, or 0.2%, at $1,316.40 an ounce, leaving it down 0.4% for the week. Gold remains up 2.7% since the end of last year. March was up 6.7 cents, or 0.4%, to...

Oil headed for its biggest weekly loss since December as concerns over economic growth from Europe to China reinforced fears that fuel demand may weaken. Futures declined in New York for a second day and have lost 5 percent this week. The trade dispute between the U.S. and China showed no signs of a resolution as President Donald Trump said he wouldnt meet President Xi...

Sterling on Friday was headed for its worst weekly decline since October with a stalemate over Brexit weighing on the currency and leading the Bank of England to cut its growth forecast. The pound was volatile on Thursday. It fell after the BoE kept interest rates on hold and then strengthened when the central bank said rates will rise if an EU divorce deal is done. That was seen as somewhat...

The euro held at a two-week low on Friday as traders nursed losses in a week of bad data that indicated an economic slowdown in Europe was spreading as trade tensions between United States and China remain high. The single currency is on course for its biggest weekly loss in more than four months after data that has also pushed down euro zone government bond yields, with benchmark German debt...

Gold is heading for the first weekly drop in three weeks as the dollar strengthens amid concerns that the Trump administration wont reach a trade deal with China before further tariff hikes kick in. Spot gold -0.1% at $1,308.76/oz at 7:51am in London; -0.7% this week. Bloomberg Dollar Spot Index +0.9% this week to head for biggest weekly advance since August. President...

Oil prices took a dip on Friday in Asia despite reports of OPEC output cuts and U.S. sanction on Venezuela, as traders are still worried about the global economic slowdown. The U.S. Crude Oil WTI Futures that dropped by around 2.5% in the previous session kept the downward trend on Friday and were trading at $52.21 per barrel at 11:11 PM EST (4:11 AM GMT), down 0.82%. International Brent Oil...

Australia's dollar slid to a five-week low after the central bank cut its growth and inflation forecasts, stoking speculation that it may lower interest rates. AUD/USD declined as much as 0.6% to 0.7061, lowest since Jan. 4 NZD/USD slipped 0.2% to 0.6735, down 2.4% on the week. Yen was the sole gainer among Group-of-10 currencies, with USD/JPY down 0.1% to 109.71. A drop in Asian equities...

Gold held steady on Friday on worries that a protracted Sino-U.S. trade war could worsen global economic slowdown, but a strong dollar put bullion on track for its first weekly loss in three. Spot gold was steady at $1,309.6 per ounce at 0050 GMT. Prices hit their lowest since Jan. 29 at $1,302.11 on Thursday, but ended the session up 0.3 percent. The metal was down 0.6 percent for this...

PRECIOUS METALS
Gold prices notch gains for the day and week as coronavirus fears intensify
Saturday, 25 January 2020 02:08 WIB Gold prices finish higher on Friday, ending at the highest settlement in about three weeks as a viral outbreak originating out of China continued to...
ENERGY
Oil Drops The Most Since May on Fears Coronavirus Will Hit Growth
Saturday, 25 January 2020 03:00 WIB Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices. A slowdown in China's economy would impact demand...
CURRENCIES
Dollar Rises vs Euro as European PMI Data Fails to Impress
Friday, 24 January 2020 23:32 WIB The dollar rose to a near eight-week high against the euro on Friday as lukewarm European PMI data added to the broader market conviction that...

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