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Oil jumps on surprise US crude drawdown report and OPEC jawboning

US crude oil (WTI) is now trading around 59.50, in the New York session, jumping by almost 0.50% after the US inventory report. So far it made a session high of 59.81 on a surprise crude drawdown figure from the EIA report. According to the EIA, crude oil inventories came …

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EUR/USD extends gains to the 1.2440

Dollar’s sell-off decelerate but persists, with European currencies reaching fresh weekly highs and the EUR/USD pair nearing 1.2440 at the time of writing, its highest since February 6th. US inflation unexpectedly surged in January, bringing back fears triggered by the US Nonfarm Payroll report of a possible upcoming faster pace …

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Japanese stocks fall to a 4-month low

Japanese stocks fall to a 4-month low as longer-term concerns over rising Treasury yields and possible tighter Bank of Japan policy dispel the morning’s optimism. Overnight gains in global stocks and news of the looming reappointment of Gov. Kuroda buoyed the morning session, but ultimately failed to generate enough traction …

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Kuroda Chatter May be Boosting the Yen

The yen’s afternoon rally has been on what some market participants say are doubts that Kuroda will actually get reappointed, says NAB’s Rodrigo Catril. But he discounts that sentiment, contending that Abe’s statement that the BoJ chief getting another term isn’t a given needs to be seen in the context …

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Chinese yuan’s surged to two-year high on a trade-weighted basis

The yuan is at its highest since June 2016, having strengthened 2.3% against a basket of its trading partners’ currencies since Jan. 12 — which marked its lowest point this year. The gauge, the CFETS RMB Index, is published each Friday by the China Foreign Exchange Trade System and measures …

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JPMorgan Analysts See Cryptocurrencies Lasting

Jamie Dimon once called bitcoin a fraud. Now, his bank has a new report saying cryptocurrencies could help investors diversify equity and bond portfolios. In a 71-page research note, JPMorgan says cryptocurrencies “are unlikely to disappear completely and could easily survive in varying forms and shapes among players who desire …

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Oil prices rise 1% as stock markets stabilize

Oil prices rose 1 percent on Monday, offsetting some of the big losses of last week as Asian stock markets stabilized after days of turbulence. But oil markets are looming as US output, which undermines the efforts of the Organization of the Petroleum Exporting Countries (OPEC) and Russia, tightens the …

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Will Egypt achieve self-sufficiency in natural gas?

The government says it hopes to stop importing natural gas next year, according to Oil Minister Tariq al-Mulla. However, analysts say that Egypt may not be able to achieve self-sufficiency, and that even if it stops importing gas, it will continue to import other petroleum materials needed to generate electricity …

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USD/JPY drops to lowest in 5-months near 108.00 before rebounding

•USD/JPY hits fresh monthly lows and rebounds. •Wall Street on a volatile day: test weekly intraday lows and recovers. The yen rose across the board during the last session of the week supported by risk aversion. The Dow Jones was in negative territory on a volatile day, creating concerns among …

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US and Canada: What to watch next week

Analysts at National Bank of Canada presented next week Canadian and US key reports with a preview. “In the U.S., the consumer price index could have increased 0.4% m/m in January as gasoline prices rose sharply. Nevertheless, we expect the year-on-year rate to drop two ticks to 1.9%. The core …

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US 10-year yield ends week little changed, capped by risk aversion

A volatile week, ends with sharp losses in Wall Street. Fear among investors increased appetite for US bonds. Markets on a new short-term normal. The 2-year yield finished the week lower, moving further away from 9-year high. Risk aversion increased the demand for short-term bonds. The 10-year bottomed on Tuesday …

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Canada: Slump in employment but details not overly worrisome

According to National Bank of Canada’s analyst, Matthieu Arseneau, the labour market remains very tight in Canada despite the slump reported in January. “Canadian employment slumped 88K in January according to the Labour Force Survey. This decline was accounted by a 137K plunge in part-time jobs as full-time employment was …

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US indexes trim early losses, close with solid gains

US indexes plunged right after the opening but managed to close the day with solid gains, down anyway for the week. The Dow Jones Industrial Average gained 326 points, and settled at 24,186.59, down for the week over 5%. This Friday, the Nasdaq Composite added 97 points to close at …

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Treasuries Move Lower For Third Consecutive Session

After moving lower over the two previous sessions, treasuries saw some further downside during trading on Friday. Bond prices came under pressure early in the trading day and remained firmly negative throughout the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by …

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The Saudi Stock Exchange (Tadawul) up 3% in a week

The Saudi Stock Exchange (Tadawul) made gains for the fifth consecutive week. The Tadawul All Shares Index (TASI) rose by 2.7%, or 200 points, as it ended the week at the level of 7,539.02 points. Market cap rose by SAR 56.1 billion to a total of SAR 1.767 trillion. As …

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EGX hits new record for 2nd week in row

The Egyptian Exchange (EGX) achieved new gains during the third week of 2018, which ended Thursday 18 January. EGX30, the market’s benchmark index, gained 1.11% or 168.52 points, as it ended the week at its all-time record high of 15,411 points. Traded volumes amounted to 1.2 billion shares, with the …

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The ECB, whose Governing Council meets on Thursday, last expressed concern over the single currency in September

After hitting a three-year high against the dollar, the strong euro is likely to preoccupy global markets and European Central Bank policymakers in particular in the coming week. The ECB, whose Governing Council meets on Thursday, last expressed concern over the single currency in September, when it said exchange rate …

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The governments around the world are increasingly moving towards regulating the initial coin offerings

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MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4% to a record top.

Asia stocks shook off losses on Wall Street and edged up to record highs on Friday following China’s announcement of faster-than-expected fourth quarter growth, while worries over a possible U.S. government shutdown weighed on the dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4 percent to a record …

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The rapid growth of US shale producers will shortly knock Saudi Arabia from second to third place

The rapid growth of US shale producers will shortly knock Saudi Arabia from second to third place among the world’s oil-producing titans, with only Russia ahead, the International Energy Agency said on Friday. With Venezuelan output plummeting amid political and economic turmoil, the IEA indicated the Kingdom could lose its …

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The dollar held steady above a three-year low versus a basket of currencies on Friday

The dollar held steady above a three-year low versus a basket of currencies on Friday, marking a fifth week of falls and its longest losing streak since May 2015 as worries over a possible U.S. government shutdown weighed. On Thursday, the U.S. House of Representatives passed a bill to fund …

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Dollar Hits Lowest Level Since 2015

The U.S. dollar fell Thursday as Congress appeared no closer to resolving a budget impasse that could lead to a government shutdown after Friday. The Wall Street Journal Dollar Index, which tracks the currency against a basket of 16 others, declined 0.3% to 84.42, the lowest closing level since May …

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U.S. Dollar Under Pressure on the Risk of U.S. Government Shutdown

On Thursday, the three major U.S. stock indexes dived one day after racing to all-time highs, dragged by weakness in real estate and energy sectors. The Dow Jones Industrial Average slipped 98 points (-0.4%) to 26018. The S&P 500 lost 5 points (-0.2%) to 2798 and the Nasdaq Composite was …

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CFTC Alleges Fraud in Three Virtual-Currency Cases

The top U.S. derivatives regulator brought charges in three cases involving virtual currencies on Thursday, alleging that defendants fraudulently solicited customers and violated other commodity laws and regulations. The Commodity Futures Trading Commission cases fit the template of the agency’s usual enforcement cases, evidence it plans to continue treating virtual …

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U.S. Stocks Rise as Bank Results Roll In

U.S. stocks rose Wednesday following a spate of bank earnings and corporate updates. The Dow Jones Industrial Average climbed 149 points, or 0.6%, to 25942. The S&P 500 advanced 0.5% and the tech-heavy Nasdaq Composite rose 0.5%. The S&P 500 and Dow industrials pulled back Tuesday, but still notched their …

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Stronger Yuan Fix Reflects Reduced Domestic Influence

The yuan’s strong fix against the dollar reflects the latest weakness in the US currency, especially after a recent move by Beijing to limit the influence of a counter-cyclical measure it used to stabilize the pair. “Markets seem to realize that spot market for the USD/CNY will follow the dollar …

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Cairo’s main index increased in value by 21.66% during 2017.

Egypt’s equities market performed better than peers in neighbouring Gulf Cooperation Council (GCC) countries in 2017. Cairo’s main index increased in value by 21.66 percent during 2017, as a continuous drop in inflation, positive comments from the Central Bank and an ongoing program of economic reforms boosted investor sentiment, especially …

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Dollar under pressure, euro bolstered by hawkish ECB minutes

The dollar slumped against rivals on Friday on the back of weak factory inflation data, while the euro enjoyed solid support after the European Central Bank hinted that it could be gearing up to trim its massive monetary stimulus. The dollar index, which tracks the greenback against a basket of …

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Saudi Aramco will be included in the MSCI Saudi Arabia Index at the time of the IPO

International equity index compiler MSCI said it expected to include Saudi Aramco in its Saudi Arabia Index from the time of the oil giant’s IPO, potentially triggering a big flow of funds into the shares as soon as they list in Riyadh. “Saudi Aramco will be included in the MSCI …

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Oil adds to rally, heads for fourth week of gains

Oil prices rose for a sixth day on Friday after Russia’s oil minister said that global crude supplies were “not balanced yet,” alleviating market concerns about a wind-down of the OPEC-led deal to reduce production. Russian Energy Minister Alexander Novak said ministers from leading OPEC and non-OPEC producers will discuss …

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Bitcoin and Regulators: An Awkward Dance

Bitcoin is stuck in the mud. The price of the cryptocurrency took a dive last week, levelled off, and ended at $13,800. In the past month, prices have declined by about 30% through Friday, according to Coinbase. Tightening regulation is, in part, responsible. Leaked documents showed that China’s top internet-finance …

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U.S. Consumer Prices Rose 0.1% in December

U.S. consumer prices rose in December, bolstering expectations that long-weak inflation is set to gain strength in the new year. The consumer-price index, which measures changes in the prices Americans pay for everything from breakfast sausage to doctor visits, increased a seasonally adjusted 0.1% in December from the prior month, …

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Dollar Drops to Lowest Level Since September

The dollar sank to its lowest level in nearly four months Friday, driven by expectations of monetary policy tightening outside the U.S. The Wall Street Journal Dollar Index, which measures the U.S. currency against a basket of 16 others, was recently down 0.4% at 85.10, its lowest level since mid-September. …

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U.S. Stocks on Track to Set New Closing Records

Shares of banks climbed following a flurry of earnings reports and retailers continued to rally, hurtling major U.S. indexes toward a trifecta of records. Stocks continued their meteoric rise, a sign for many investors that the long-running rally that powered the Dow Jones Industrial Average and the S&P 500 to …

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Canadian Dollar and Mexican Peso Fall on Nervousness Over Nafta

The currencies of Canada and Mexico tumbled against the dollar Wednesday, on concerns that the U.S. will soon pull out of the North American Free Trade Agreement. The U.S. dollar was up 0.9% against the Canadian dollar to 1.2593, on track for its biggest daily gain since October. The dollar …

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US: Key economic events ahead

“US Dec CPI: In November, headline inflation accelerated as gasoline prices jumped. Headline consumer prices gained 0.4% in the month and 2.2% over the year, up from 2.0%yr in October. Core inflation however surprised to the downside, rising by just 0.1% as health care and clothing costs weighed. Annual core …

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BRAZIL: Ethanol Demand Expected To Increase 60% In 2018

The RenovaBio program – which aims at increasing biofuels consumption – and rising gasoline prices in Brazil should lead to a 60% growth in local ethanol demand, said Henrique Falqueiro, director of NexSteppe, which operates in the sector. “Therefore, the year 2018 should be used so that sugarcane plantations prepare …

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After two days declining, the Ibovespa jumped 1.49% Thursday.

After two days declining, the Ibovespa jumped 1.49% Thursday, closing at 79,365.44 points, supported by shares of steelmakers, banks and Petrobras amid a more favorable external scenario. Gerdau shares (+8.16%) posted the highest increase amid the Ibovespa’s constituents, followed by other steelmakers such as CSN (+5.85%) and Usiminas (+5.36%). The …

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Ibovespa Falls For Second Straight Day As Risk Appetite Fades

Ibovespa, the benchmark stock market index in Brazil, ended down for the second consecutive day on Wednesday, dropping 0.84% to 78,200.57 points. Investors are still taking profits after the recent 11-day streak of gains in the local market. Negative performance in stock market indexes abroad and data showing that the …

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JGBs gain as BoJ revives bond buying

Japanese government bonds gained on Thursday as the Bank of Japan maintained the amount of its bond buying in its open market operation. The yield on the benchmark 10-year Treasury note, which moves inversely to its price, fell over 1 basis point to 0.073 percent, the yield on the long-term …

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Australia 10-year bond yield hits highest on upbeat November retail sales data

Australian government bonds plunged on Thursday following higher-than-expected retail sales data for November. Also, weakness in the U.S. Treasuries pushed the bond yields higher. The yield on the benchmark 10-year Treasury note, which moves inversely to its price, rose 1-1/2 basis points to 2.717 percent, the yield on the long-term …

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Dollar Drops Against Yen On U.S. Bond Concerns

The dollar is turning in a mixed performance against its major rivals Wednesday afternoon. The buck is little changed against its major European rivals, but is down significantly against the Japanese Yen. The safe haven status of the Yen is driving it higher against the dollar after reports that China …

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U.S. oil hits highest since 2014

U.S. oil prices hit their highest since 2014 on Wednesday as OPEC-led production cuts and healthy demand helped to balance the market, but analysts warned of possible overheating. A broad, global market rally, including stocks, has also been fuelling investment into crude oil futures. U.S. West Texas Intermediate (WTI) crude …

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Australian bonds slump following weakness in U.S. Treasuries

Australian government bonds slumped on Wednesday following board weakness in the U.S. Treasuries. Yields on the benchmark 10-year US Treasury hit a nine-month high overnight, climbing to 2.5 percent after the Bank of Japan’s trimmed its purchases of super-long debt. The yield on the benchmark 10-year Treasury note, which moves …

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Yield on 10-year JGBs hits highest since October 23, up nearly 2bps

Japanese government bonds slumped on Wednesday following board weakness in the U.S. Treasuries. Yields on the benchmark 10-year US Treasury hit a nine-month high overnight, climbing to 2.5 percent after the Bank of Japan’s trimmed its purchases of super-long debt. The yield on the benchmark 10-year Treasury note, which moves …

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Leaked tape suggests Egypt on board with Trump’s Jerusalem decision

According to local media reports, a leaked intelligence tape has revealed that Egypt is on board with the U.S. President Donald Trump’s decision to recognize Jerusalem as Israel’s capital and move the U.S. embassy in Israel from Tel Aviv to Jerusalem. The tape suggests that Egypt’s intelligence officials have instructed …

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The UAE economy is expected to accelerate by 3.9% in 2018

The United Arab Emirates (UAE) ‘s GDP growth is expected to accelerate to 3.9 percent in 2018, a senior UAE economy ministry official said, quoting estimates by the central bank. Abdullah Al Saleh, Undersecretary for Foreign Trade Affairs, was speaking at an economic conference. Last month, the UAE central bank …

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Bitcoin trades influenced by negative talk, and relative calm in trading

BitCoin news is still absent from the markets, and it is clear that the psychologists are beginning to respond to the negative news of the Betcoin more than the current correction process. The most important negative news that came from Bitcoin during the current period The first news came from …

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Oil is stabilizing near a 3-year high supported by lower US dredgers

Oil prices stabilized on Monday and settled at a slightly lower level than last week’s three-year high, supported by a slight decline in the number of US drilling platforms. West Texas Intermediate crude futures contract was $ 61.50 a barrel by 0800 GMT, up six cents from the previous settlement …

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Russia warns negative impact on relations over Tokyo’s Aegis deployment

Russia protested Japan’s decision to acquire and deploy U.S.-made Aegis Ashore missile defense installations on its territory after the decision was made in late December by Tokyo to defend against North Korean missile threats. Maria Zakharova, spokesperson for the Russian Ministry of Foreign Affairs, the deployment would lead to a …

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US consumer price inflation likely to hit 2 pct through this year

The United States’ consumer price-led inflation index is expected to hit 2 percent through this year, according to a recent poll by FxWirePro. With the pace of rising inflation, the Federal Reserve is expected to raise policy rates gradually to 2 percent by end-2018. Inflation overshoots the target during the …

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Fed Hike probabilities over next 12 months

•The probability for rate hikes has tightened further for both near months and longer months, however, the market is still not pricing the third hike for December. Next hike is priced in March with 64.9 percent probability, instead of 57.1 percent a week ago. •The market is pricing the second …

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Ibovespa Surpasses 79,000 Points, Pulled By Global Risk Appetite

The Ibovespa reversed an initial decline to end up 0.54% Friday at 79,071.46 points – a new record closing level. The index had a weekly gain of 3.5%, amid rising global risk appetite after disappointing employment data in the U.S. increased bets that interest rates in the country would grow …

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ARGENTINA: Merval Breaks 32,000 Points Barrier For The First Time In History

Merval, the main index of the Buenos Aires Stock Exchange, rose 0.79% to 32,505.59 points Friday, a new settlement record that marked the 13th consecutive session of gains to the Argentinean stock market. Merval had a weekly gain of 7.11%. Friday’s rise occurred in spite a temporary profit-taking again during …

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Dollar rises on rate hopes despite lackluster U.S. payrolls data

European shares powered to their best week since last April on Friday, with the British and Swiss benchmarks hitting records, propelled by optimism about a strengthening regional economy and fresh new highs on Wall Street. UKs benchmark FTSE 100 closed up by 0.2 percent, the pan-European FTSEurofirst 300 ended the …

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U.S. factory orders recover strongly in November

of 1.1 percent. Factory orders, stripping transportation rose 0.8 percent sequentially. The report released Friday also showed revisions durable goods orders data. Growth in total durable goods orders stayed the same, but data on core capital goods orders and shipments were downwardly revised, with core shipments indicating a modest fall …

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S&P 500, Nasdaq post best week in more than a year

The S&P 500 and Nasdaq notched their best weekly gains in more than a year on Friday as technology stocks helped lift major indexes to records. With the New Year’s Day holiday falling on a Monday this year, it was the strongest first four trading days to a year in …

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Indeed, 2018 could bring tighter monetary conditions from the majority of G10 central banks

“The strength of Canada’s stunning December labour report relative to that produced by the US is a shining example of why the greenback has been failing to gain traction in recent weeks,”. The US economic cycle may be more progressed than in other G10 nations, but the markets have recently …

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USD/CAD extends weekly losses after Loonie outperforms on jobs data

•Canadian dollar outperformed on Friday boosted by data. •USD/CAD trimmed losses during US session, still ends more than 60 pips lower on Friday. The USD/CAD pair dropped sharply following US and Canadian employment data. It bottomed at 1.2353, the lowest level in three months. Afterward rebounded and trimmed losses. The …

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Oil falls from 3-year high due to profit taking and rising US production

Crude oil prices fell sharply during today’s trading, at close to 1%, after prices had hit their highest levels since 2000. Where the US crude is moving below the price of $ 61 and a half a barrel, and Brent oil will move below the price of seventy-seven dollars and …

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Foreign direct investment flows into Egypt are expected to improve in 2018

Foreign direct investment flows into Egypt are expected to improve in 2018, especially in the second half of the year after the presidential election is over, economists predicted. The elections are expected to begin next month and take place in April. “No investment will be made in a country with …

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US: Trade deficit widens as imports jump more than exports

According to analysts from Wells Fargo, the trade deficit widened markedly in the last two months of 2017 and consequently, real net exports likely exerted a significant drag on overall GDP growth in the fourth quarter. Key Quotes: “The U.S. trade deficit widened to $50.5 billion in November from $48.9 …

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Bid bullion OTC market projections and hedge yellow metal

The gold prices surged back to $1,325.96 levels but was unable to sustain 4-months highs as we have the US nonfarm payrolls on data front, this has been vital for the precious metal and a reading of 190,000 new jobs added in December expected today, yellow metal price has usually …

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U.S. Dollar Advances Against Majors

The U.S. dollar climbed against its major rivals in early European deals on Friday. The greenback extended rise to an 8-day high of 113.20 against the yen, off its early low of 112.72. The greenback edged up to 0.9770 against the franc and 1.2051 against the euro, from its previous …

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EUR/USD consolidates in narrow range, market eyes US Nonfarm payroll

•EUR/USD is consolidating after hitting high of 1.2883 yesterday. The pair declined slightly 30 pips after better than expected US ADP employment data. It is currently trading around 1.20548. •US economy has added 250k in Dec compared to forecast of 190k. The major increase in jobs addition was mainly due …

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Yen Falls Amid Risk Appetite

The Japanese yen slipped against its key counterparts in the Asian session on Friday amid rising risk appetite, as Asian markets rose following strong gains overnight on Wall Street and higher commodity prices. Investors await U.S. jobs data later in the day for evidence of economic growth in the world’s …

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Oil is at its highest level since mid-2015 amid Iran’s tensions

Oil prices hit their highest levels in more than two and a half years on Thursday, reaching levels not seen since the beginning of the 2014-2015 commodity market downturn fueled by tensions in Iran, a major producer, OPEC. Prices also received support from Asian equity markets, which were hovering near …

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UK House Price Growth Accelerates In December

UK house prices increased at a slightly faster pace at the end of 2017, data from Nationwide Building Society showed Thursday. House prices grew 2.6 percent year-on-year in December, slightly faster than the 2.5 percent rise seen in November. The annual rate was expected to ease to 2 percent On …

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Egypt Non-Oil Private Sector Contracts In December

Egypt’s non-oil private sector activity deteriorated at the end of the year, survey data from IHS Markit showed Thursday. The seasonally adjusted Emirates NBD Egypt Purchasing Managers’ Index, or PMI dropped to 48.3 in December from 50.7 in November. Any reading below 50 suggests contraction, while a score above 50 …

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Ibovespa Rises For The Eighth Session, Hits Closing Record

Ibovespa, the benchmark stock index in Brazil, closed higher for the eighth consecutive session (+0.13%) Wednesday and ended the day at a new settlement record of 77,995.16 points. The good mood seen Tuesday continued in Wednesday’s trading session, bolstered by the positive external scenario and more aggressive investor positions earlier …

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Bitcoin rebounds 16%, Bitcoin Cash & Ripple follow suit

Bitcoin (BTC/USD), the world’s most known cryptocurrency, got off to a weaker start to the New Year but eventually recovered ground, having booked a 10% gain on Tuesday. As for today’s trading, the spot regains poise to now climb back above the $ 15000 mark, up nearly 16% on the …

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US: Markets need to get familiar with Powell’s Fed

In 2018, FX markets will have to start getting used to a ‘new’ and less experienced Federal Reserve. “First, the Fed will have a new chairman from February: Jerome Powell, a non-economist (lawyer). Second, the Board of Governors has seen a major overhaul, with experienced members Janet Yellen, Stanley Fischer …

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USD on a shaky ground

over the past month the USD has lost ground against all of its G10 peers with the exception of the JPY and the failure of the greenback to rally in response to the passage of the Republican tax bill last month is a function of several factors. “These include scepticism …

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US Dollar Index remains under pressure despite data and yields

•DXY moves modestly off lows. •US data and rising yields unable to push the US dollar higher. The greenback continues under pressure. It weakened again after a small short-lived recovery. The US Dollar Index remains near 3-month lows, above mid-91.00s. The Index bottomed earlier at 91.76, the lowest since September …

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Bitcoin recovers toward $14K, Ethereum eases off record highs

•Bitcoin retraces small part of recent losses on Tuesday. •Ethereum fails to hold above $900, still up more than 15% on the day. •Stellar up more than 30%. The BTC/USD pair, which eased below the $12K on the first day of 2018, staged a modest recovery on Thursday and was …

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Singapore: Q4 GDP growth slowed to 3.1%

was still above expectations (Nomura: 2.1%; Consensus: 2.6%), notes the research team at Nomura. Key Quotes “In sequential terms, growth slowed sharply to 2.8% q-o-q saar from 9.4% in Q3. This brought full-year 2017 growth to 3.5% from 2.0% in 2016, which is at the top end of the government’s …

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Aussie – Solid start to the New Year

Holiday-thinned light trading extended into the first trading session of the New Year, with the Aussie having emerged the top gainer on the back of higher oil prices and solid Chinese Caixin manufacturing PMI data. The Kiwi too followed suit while the Yen remained on the defensive, despite North Korea …

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U.S. crude ends year above $60 on strong global oil demand

U.S. oil prices closed above $60 a barrel on the final trading day of the year, the first time since mid-2015, as the commodity ended 2017 with a 12 percent gain spurred by strong demand and declining global inventories. International benchmark Brent crude futures ended the year with a 17 …

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Gold soars toward largest annual gain since 2010 on dollar boost

Gold extended its rally to a three-month high on Friday, leaping toward its biggest one-year rise in seven years as a wilting U.S. dollar, political tensions and receding concerns over the impact of U.S. interest rate hikes fed into its rally. Gold’s gains coincide with the greenback, in which gold …

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Dollar share of global FX reserves shrinks to smallest since 2014

The U.S. dollar’s share of global currency reserves reported to the International Monetary Fund shrank in the third quarter to its smallest since mid-2014, while the euro’s and Chinese yuan’s share of reserves edged higher, data released on Friday showed. The share of dollar reserves has declined for three consecutive …

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Dollar index closed the year @91.82

The dollar fell to a one-month low versus a basket of currencies on Friday on a less upbeat U.S. growth outlook after the passage of major tax cuts. Commodity-linked currencies including the Australian and New Zealand dollars posted two-month highs with copper prices MCU3 hitting a four-year high and oil …

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Singapore PPI Inflation Rises On Oil Prices In November

Singapore’s producer price inflation accelerated on oil prices in November, Statistics Singapore reported Friday. Producer price inflation rose to 2.8 percent in November from 2.1 percent in October. The oil index surged 23.6 percent, while non-oil prices fell 0.6 percent. Month-on-month, producer prices advanced 1 percent, following October’s 0.1 percent …

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Russia’s Service Sector Activity Expands More Than Forecast

Russia’s service sector activity expanded more than expected in December but the pace of growth slowed from November, survey results from IHS Markit showed Friday. The IHS Markit services Purchasing Managers’ Index fell to 56.8 in December from 57.4 in November. Nonetheless, a score above 50 indicates expansion and this …

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China’s imports lead copper prices to a 4-year high

Copper prices rose to their highest level in four years on Wednesday after a sharp rise in China’s metal imports in November boosted expectations of increased demand from the world’s biggest consumer. Copper was up in the three-month benchmark when the London Metal Exchange closed 1.6 percent at $ 7239 …

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Crude oil futures rose during the Asian session

Crude oil futures rose during the Asian session on Thursday. According to the New York Mercantile Exchange, crude oil futures traded in February at USD59.70 per barrel at the time of writing, up 0.10%. It was already trading at a session of USD59.79 per barrel. Crude Oil may find support …

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Gold futures rose during the Asian session

Gold futures rose during the Asian session on Thursday. According to COMEX of the New York Mercantile Exchange, gold futures traded in February at USD1292.60 per ounce at the time of writing, rising 0.09%. It was pre-traded on a session high of USD1293.10 an ounce. Gold may find support points …

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Tech tumble hits Asian stocks, bitcoin steadies

Asian shares fell on Thursday, weighed down by a plunge in high-flying tech shares on fears that a long boom in micro-chips may have peaked, while virtual currency bitcoin steadied after a roller-coaster ride in the previous session. The digital currency’s 10-fold increase in price this year has stoked worries …

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