Happy Friday for trade talks, GBP/USD holding onto Boris boost, all eyes on the NFP2019-12-06 09:45:51
Here is what you need to know on Friday, December 6: Jobs Friday: Economists expect the US Non-Farm Payrolls to show an increase of around 180,000 positions in November, and Average Hourly Earnings to increase by 3% yearly. The all-important NFP is due before the last Federal Reserve's last decision of 2019. Indicators leading toward the release were mixed. The University of Michigan's preliminary Consumer Sentiment Index for December is also of interest.
Oil steadies after price jump; investors wait on OPEC meetings2019-12-05 09:36:06
Oil prices edged lower in muted trading on Thursday ahead of the start of OPEC meetings later in the day, steadying after the previous session's steep gains on a sharp drop in U.S. crude inventories and expectations of more output cuts. Brent crude (LCOc1) futures dipped 10 cents, or 0.2%, to $62.90 a barrel by 0112 GMT. Brent surged 3.6% on Wednesday. West Texas Intermediate (WTI) crude (CLc1) futures fell 22 cents, or 0.4%, to $58.21 a barrel. They settled up 4.2% on Wednesday.
Forex - Dollar Near 1-Month Lows as Trade War Fears Ramp Up2019-12-04 09:19:11
Both the Japanese and Swiss currencies tend to be sought by investors as safe-haven assets during times of heightened geopolitical tensions or market uncertainty. The euro was little changed near one-and-a-half week highs against the dollar at 1.1085. The biggest beneficiary of the slide in the dollar was the British pound, which climbed 0.5% to a fresh six-month high of 1.3059.
Oil rises for a second day as Saudi Arabia pushes supply cut2019-12-03 09:48:49
Oil prices rose for a second day on Tuesday as Saudi Arabia, the de facto OPEC leader and the world's biggest oil exporter, is pushing producers to deepen a supply cut agreement when suppliers meet this week, potentially lowering supply in 2020. Brent futures rose 19 cents, or 0.3%, to $61.11 a barrel by 0218 GMT, after gaining 0.7% on Monday. U.S. West Texas Intermediate crude (CLc1) was up by 21 cents, or 0.4%, at $56.17 a barrel. The contract rose 1.4% on Monday.
Crude Oil Price Update – Strengthens Over $56.08, Weakens Under $55.822019-12-02 09:45:43
U.S. West Texas Intermediate crude oil is trading higher as traders try to recover some of Friday’s steep losses. Traders are saying Friday’s sell-off was fueled by the announcement of the resignation of the Iraq prime minister in response to weeks of unrest and protests in the country. Traders fear that a new regime may lead to the lifting of sanctions against the country, leading to increased supply in the open market.
Oil Price Fundamental Daily Forecast – Drillers Reduce Number of Rigs, but Production Still Hits Record High2019-11-29 09:18:57
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are edging lower early Friday on light post-holiday buying. The selling pressure is light, which some traders are saying is in reaction to renewed tensions between the United States and China and increasing doubts the two economic powerhouses will reach a Phase One trade deal agreement before new U.S. tariffs kick in on December 15. At 03:32 GMT, January WTI crude oil futures are trading $58.01, down $0.23 or -0.39% and January Brent crude oil is at $63.84, down $0.11 or -0.17%.
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