Crude oil prices climbed up on Thursday amid a small increase in US oil stockpiles. US weekly crude oil inventories increased by about 0.25 million barrels, noticeably below market forecasts of over 2 million barrels. Futures for WTI for December delivery edged up $0.19 to trade at $41.05 per barrel, while Brent futures for delivery in January rose $0.40 to
Gold weakened again and hovered near its lowest level over the last five years ahead of the US inflation data release later today and growing expectations of an interest rate increase in December. Spot gold dipped $3.95 or 0.4% to trade at $1,078.46 per troy ounce. US gold fell 0.6% to reach $1,077.50. Elsewhere in metals trading, palladium was down
Consumer inflation in the UK stayed in negative territory for the second month in a row in October, highlighting worries over deflationary pressures. Prices dropped 0.1% from a year ago, the same as in the preceding month and in line with analysts' forecasts. Core inflation that excludes energy prices and volatile food advanced to 1.1% from previously 1%. The BOE
Europe's shared currency extended losses against the Greenback for the fourth consecutive month and hit fresh lows. The currency pair dropped 0.28% to reach its 7-month low of 1.0656. The EUR/USD pair remains under pressure due to the effects caused by the Paris attacks on the Eurozone's economic outlook. Investors believe that the ECB has to further expand its economic
Crude oil extended gains on Tuesday, moving further away from its two months lows witnessed during the previous week. In spite of the increase, economists stated that prices would remain low for the rest of the year due to the oil markets still being strongly oversupplied. Futures for WTI edged up $0.12 to trade at $41.86 per barrel, whereas Brent
Following the Paris attacks on Friday, demand for gold moved up, as the metal regained its role of a safe-haven asset that is perceived by traders as less risky during times of uncertainty and turmoil. The bullion added 1.2% to trade at $1,094.44 per ounce. However, economists cautioned that these gains are probably only of short-term character due to a
The Euro fell to its six-and-a-half month low versus the US Dollar and the Japanese Yen after the deadly terror attacks in Paris. The single currency tumbled 0.5% to $1.0710, moving towards the prior week's six-and-a-half months low of $1.0674. The Euro also slipped against the Japanese currency, hitting a low of 130.645 Yen, the lowest level since April 29.
Prices for the yellow metal edged higher on Tuesday, adding minor gains. However, the bearish sentiment remains amid increasing expectations of a Fed rate hike by the end of this year. Gold for delivery in December jumped up $0.40 to reach $1,088.10 per troy ounce. The trade ranged between $1,087.40 and $1,094.90. Trading stays tame due to investors' anticipation of
The British Pound slipped against the other main currencies in European morning session. The UK currency moved down to 0.7128 versus the Euro and 1.5134 against the Swiss Franc, off its previous highs of 0.7107 and 1.5189, respectively. The Sterling fell to 186.05 against the Japanese Yen and 1.5092 versus the US Dollar, from its prior highs of 186.47 and
According to the latest IEA report, oil markets are slowly rebalancing and crude prices are recovering. The Agency forecast the oil prices to be in the $80 per barrel range by 2020, with further price increases thereafter. The IEA stated that demand would gradually rise to 2020, adding on average about 900,000 barrels per day on year and moderately increasing
The shared currency was witnessed marginally lower against the Greenback, primarily driven by a possible rate increase in December. The Euro edged 0.07% lower reaching $1.0743. The single currency had tumbled to $1.0707, the lowest level since April, just after outstanding US employment data. Due to the European calendar offering rather minor data, it is not likely that it will
Prices for gold managed to add some gains during the week's last trading day, however, stayed near its seven-week low pressured by a stronger Greenback and the rising likelihood of an interest rate hike by the Fed. Gold futures for delivery in December jumped up by 0.40% to trade at $1,108.60. As to other metals, silver futures for delivery in
The British pound extended losses and dropped to its one-month low against the Greenback after the most recent report on the British manufacturing and industrial production data for September, which came in weaker than expected. Following the release, the GBP/USD currency pair moved 0.45% down to reach $1.5140, its lowest level since October. Investors are now anticipating the release of
Crude oil was trading in positive territory after considerable losses made in the previous session, with the bearish sentiment still driven by the global excess of supply. Futures for WTI for December delivery rose $0.34 to trade at $45.54 per barrel, while Brent futures for December delivery climbed up $0.27 trading at $48.25 per barrel. Prices for the two benchmarks
Prices for the yellow metal held near a one-month low as the Greenback rose to a three-month high and gold looked vulnerable to additional losses after Fed Chair Janet Yellen pointed at the possibility of an interest rate hike in December. Spot gold edged down 0.12% to trade at 1,107.00 per troy ounce in London. As to other precious metals,
After having been unsuccessful at the resistance of $0.72, the Australian Dollar was trading lower and was witnessed around the handle of $0.7135. The US currency strengthened amid expectations for a December interest rate hike in the US and after payroll processing firm ADP announced on Wednesday that US non-farm private employment increased by 182,000 in the September, above the
The British pound ticked slightly higher against the US Dollar on Thursday ahead of the BoE's major monetary decisions. However, only minor action is expected before the event, as traders are waiting for further hints regarding the UK rate hike. The Cable was traded 0.08% higher at $1.5394 by 09:45 AM GMT. Meanwhile, economists say that there might be more
The equity markets across Asia closed lower outside China and Japan on Thursday, after the Federal Reserve Chair Janet Yellen said that December's monetary policy meeting would be a "live possibility" for a rate hike in the US. Japan's Nikkei rose 1%, the Shanghai Composite Index advanced 1.87%, while Hong Kong's Hang Seng edged 0.1% lower. Meanwhile, the Australian S&P
The Kiwi moved down against the Greenback on Monday following weak Chinese manufacturing data during the weekend. The commodity-based New Zealand Dollar was down 0.30% trading at $0.6748, almost near the session's low of $0.6732. In the previous week, the RBNZ left the interest rate unchanged at 2.75%, after having previously lowered it for three times since June.
Crude oil prices were subdued due to China's most recent PMI gauge showing that the economy's manufacturing activity remained in contraction. Futures for WTI for December delivery slipped $0.20 to trade at $46.39 per barrel, while Brent futures for delivery in December were down $0.03 trading at $49.53 per barrel. The Caixin-Markit China PMI increased from September's 47.2 to October's
The Canadian economy expanded in August for the third consecutive month after contracting for the first five months in a row. As reported by Statistics Canada, the monthly growth was mainly driven by manufacturing, oil and gas extraction along with retail trade. The economy's GDP grew by 0.1% in August, after an increase of 0.3% in July and 0.4% in
Even though gold prices moved higher on Friday due to a softer US Dollar, the yellow metal stayed close to its three-week low. This was primarily driven by fresh indications that the Fed could hike interest rates before the end of 2015. Spot gold stood at $1,145.55 per ounce, with little changes from late Thursday's $1,145.51. US gold futures for
Consumer prices in the Euro Area have slightly moved up in spite of persisting low prices for energy. Unemployment in the 19-nation bloc also eased further in the prior month. According to European statistics office, inflation in the Eurozone rose by only 0.1% on month. With regards to unemployment, it has reached the lowest level since 2012, dropping to 10.8%
Prices for crude oil gave up earlier gains amid traders' reaction to weaker-than-expected US economic growth in Q3 and worries about an increasing global glut. Futures for WTI for December delivery dropped $0.27 trading at $45.77 per barrel, whereas Brent futures for delivery in December were down $0.22 to trade at $48.58 per barrel. Economists expect oil prices to fall