Oil fell after an industry report showed a sharp jump in U.S. inventories, adding to concern that supply keeps growing as demand ebbs. Futures in New York dropped as much as 1.1% after closing up 1% on Wednesday. The American Petroleum Institute reported crude inventories rose by 10.5 million barrels last week, according to people familiar with the data. That would be the biggest increase since February 2017 if confirmed by the official Energy Information Administration figures due Thursday. West Texas Intermediate for November delivery dropped 38 cents, or 0.7%, to $52.98 a...

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Gold prices scaled one-week highs on Thursday, holding ground above $1,500 an ounce, as investors flocked to the safety of bullion following contradictory reports about U.S.-China trade talks. Spot gold gained 0.1% to $1,506.78 per ounce as of 0724 GMT, having notched a peak of $1,516.77 early in the session, its highest since Oct. 3. U.S. gold futures dropped 0.1% to $1,511.80. œGold is...

The GBP/USD pair maintained its bid tone through the early European session on Thursday, albeit eased a bit from session tops in reaction to mixed UK macro data. Having shown some resilience below the 1.2200 round-figure mark for the third straight session, the pair managed to regain positive traction on Thursday and was being supported by the prevalent US Dollar selling bias. The positive...

The U.S. dollar slipped as traders digested the latest Sino-U.S. trade news. A speech by U.S. Federal Reserve Chairman Jerome Powell also received some focus overnight. The U.S. dollar index that tracks the greenback against a basket of other currencies slipped 0.1% to 98.722. A South China Morning Post (SCMP) reported this morning that Sino-U.S. trade discussions had made œno progress...

Oil fell for a fourth day on increasing pessimism over the global economic outlook and after American crude inventories expanded more than expected. Futures in New York lost as much as 2.3% in early trading after the South China Morning Post reported no progress was made in trade discussions between the U.S. and China that have restarted this week and that the Beijing delegation...

Gold is currently trading at $1,512 per Oz, representing 0.30% gains on the day, having hit a high of $1,517 at 22:55 GMT on Wednesday. The yellow metal had picked up a strong bid at lows near $1,505 on reports stating that lack of progress in the US-China trade talks. High-level talks are expected to last for only one day, with Liu He and his team now planning to leave Washington on Thursday,...

PRECIOUS METALS
Gold steady as disappointing U.S. retail sales weigh on risk appetite
Thursday, 17 October 2019 08:50 WIB Gold prices held steady on Thursday as weak United States retail sales data fanned concerns that the country's economy may be feeling the pinch of...
ENERGY
Oil Drops as Industry Reports Shows Big Jump in U.S. Stockpiles
Thursday, 17 October 2019 09:11 WIB Oil fell after an industry report showed a sharp jump in U.S. inventories, adding to concern that supply keeps growing as demand ebbs. Futures in...
CURRENCIES
Dollar nurses loses; pounds fate tied to EU summit
Thursday, 17 October 2019 08:36 WIB The dollar found support on Thursday having weakened on lacklustre U.S. retail data, while the volatile pound was on edge as Britain and the...

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