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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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 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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