The British pound fell to its lowest in more than two years in early trading in Europe Wednesday as fears over a "Hard Brexit" and a possible general election exacted a higher risk premium for all sterling assets. The Times of London reported that Boris Johnson, the favorite to win the current Conservative Party leadership contest and take over as Prime Minister, is looking to call a general election as early as next year. Opinion polls suggest an election would not give any party a clear majority. Johnson has already pledged to take Britain out of the EU in October even if that means...

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Oil held gains near the highest close in more than three years as U.S. crude stockpiles shrank for a seventh week, the longest run of declines since August, offsetting a rebound in production. Futures were little changed in New York, up 2.6 percent for the week. Inventories slid by 7.42 million barrels last week, also the biggest decline since August, according to government data...

The euro hovered near a three-year high against the sagging dollar on Friday, while improving investor risk appetite weighed on the yen. The euro was steady at $1.2069 after rising 0.45 percent overnight. The common currency, supported in part by narrowing U.S.-euro zone debt yield spreads, has gained 0.6 percent so far this week. A rise above $1.2092 would take it to its highest level since...

Oil prices climbed Thursday to again settle at their highest in about three years, buoyed by a bigger-than-expected drop in weekly U.S. crude inventories and production concerns tied to protests in Iran. February West Texas Intermediate crude rose 38 cents, or 0.6%, to settle at $62.01 a barrel on the New York Mercantile Exchange. That was the highest most-active futures contract settlement...

Gold prices settled higher Thursday, overcoming earlier weakness to expand its run of gains into a 10th-consecutive session. It's the longest such streak of gains since July 2011, according to FactSet data, as support from the dollars decline back to three-month lows helped offset pressure from a strong monthly report on U.S. private-sector jobs. February gold added $3.10, or 0.2%, to settle...

Data from the U.S. Energy Information Administration Thursday showed that domestic crude supplies fell by 7.4 million barrels for the week ended Dec. 29. That was larger than the forecast for a decline of 5.7 million barrels from analysts surveyed by S&P Global Platts. The American Petroleum Institute on Wednesday had reported a drop of 5 million barrels, according to sources. The EIA...

PRECIOUS METALS
Gold Prices Turn Lower on U.S.-Iran Talks, Strong Retail Sales Data
Wednesday, 17 July 2019 13:16 WIB Gold prices fell on Wednesday in Asia on reports that the U.S. is set to begin talks with Iran. Retail sales gained 0.4% in June, outpacing...
ENERGY
U.S. Oil at Lowest in Over a Week as Pompeo Says Iran is Ready to Talk
Wednesday, 17 July 2019 03:02 WIB Oil futures settled sharply lower Tuesday, following reports that U.S. Secretary of State Mike Pompeo said Iran is ready to enter negotiations over...
CURRENCIES
Sterling Falls to 2-Year Low as Political Risk Mounts
Wednesday, 17 July 2019 15:15 WIB The British pound fell to its lowest in more than two years in early trading in Europe Wednesday as fears over a "Hard Brexit" and a possible...

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