Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude was up 22 cents, or 0.6%, at $39.79, by 0003 GMT, the highest since March 6, having gained 3.3% on Tuesday. U.S. West Texas Intermediate crude (WTI) gained 33 cents, or 0.9%, at $37.14, also the highest since March 6. The contract ended the previous session up 3.9%. Both benchmarks have risen sharply in recent weeks from the lows of April, buoyed by a continuing recovery in China, the epicenter of the virus...

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Gold eased to a two-week low on Wednesday on optimism about the reopening of the world economy, though rising Sino-U.S. tensions over Beijing's proposed security law for Hong Kong capped losses. Spot gold was down 0.2% to $1,707.85 per ounce by 07:42 GMT, after hitting its lowest level since May 13 at $1,703 earlier in the session. U.S. gold futures were down 0.5% to $1,697.60. Elsewhere,...

The U.S. dollar edged higher on Wednesday and China's yuan hit a near nine-month low as worries about the U.S. response to Chinas proposed security law for Hong Kong injected a more cautious tone into foreign exchange markets. The U.S. currency had fallen sharply on Tuesday as strong risk appetite encouraged investors into riskier currencies, but that sentiment was much less buoyant in early...

Oil prices fell on Wednesday on revived concerns over how quickly fuel demand will recover even as coronavirus lockdowns begin to ease in many countries, while U.S.-China tensions added to negative sentiment. Brent crude futures fell 21 cents, or 0.6%, to $35.96 by 0120 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 31 cents, or 0.9%, at $34.04 a barrel. The Organization of...

Gold traded flat on Wednesday as concerns about the U.S. response to Chinas proposed security law for Hong Kong countered optimism about a re-opening of the global economy. Spot gold was unchanged at $1,711.93 per ounce by 1243 GMT after a 1% drop on Tuesday. U.S. gold futures were also flat, at $1,705. U.S. President Donald Trump said on Tuesday the United States was working on a strong...

The dollar edged higher on Wednesday as worries about the U.S. response to Chinas proposed security law for Hong Kong supported safe-haven demand for the greenback. The euro held gains against the dollar and the pound but faces a severe test when the European Commission is expected to release details of a financial rescue fund for the bloc later on Wednesday. Financial markets have been...

Oil prices fell on Wednesday on concerns over how quickly fuel demand will recover even as lockdowns ease in many countries with falling coronavirus cases, with U.S.-China tensions adding to pressure. Brent crude LCOc1 futures fell 40 cents, or 0.7%, to $35.77 by 0009 GMT, after falling 1.8% on Tuesday. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 49 cents, or 1.2%, at $33.95...

Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up with coronavirus restrictions easing. Brent crude futures were up 2 cents at $35.55 a barrel. West Texas Intermediate (WTI) crude futures gained $1.10, or 3.3%, to settle at $34.35 per barrel. The Organization of the Petroleum Exporting...

Gold fell over 1% on Tuesday as major economies further eased coronavirus-linked restrictions, fuelling hopes for economic recovery and bolstering risk appetite. Spot gold slipped 1.1% to $1,710.95 per ounce, having earlier hit a low since May 13 at $1,708.47. U.S. gold futures settled down 1.7% at $1,705.60. U.S. stocks surged as investors grew optimistic about business restarts and a...

PRECIOUS METALS
Gold Eases as Equity Rally Boosts Risk Appetite
Wednesday, 3 June 2020 09:36 WIB Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on...
ENERGY
Oil Hits Three-Month High Over Hopes For Output Cuts
Wednesday, 3 June 2020 09:46 WIB Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the...
CURRENCIES
Dollar Falls as Focus Shifts to Recovery Prospects
Wednesday, 3 June 2020 08:47 WIB The dollar fell against most Asian currencies on Wednesday as prospects of more government stimulus and a global economic recovery emboldened...

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