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Crude oil inventories in the United States declined by 1.6 million barrels last week, according to estimates by the American Petroleum Institute (API). Gasoline stockpiles decreased by 985,000 barrels, and distillate inventories fell by 245,000 barrels. The official weekly report by the Energy Information Administration (EIA) is due on Wednesday.

The Euro (EUR) rose against the U.S. Dollar (USD) for the third consecutive day, keeping the rising trend this week, rebounding from multi-month lows. The EUR/USD pair increased by 0.11% to settle at 1.1759. The pair will now target levels between 1.1775 and then 1.1800. Today saw the biggest daily …

Oil prices rose on Tuesday for the second consecutive session, recovering some of its recent losses, amid output disruptions in North America. Brent crude futures for October delivery closed higher by $2.30, or 3.35%, at $71.05 per barrel, to close at its highest level since August 12. Meanwhile, the West …

PayPal will soon allow its customers in the United Kingdom to hold, buy, and sell Bitcoin and other cryptocurrencies. Customers will be able to choose between Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. PayPal warned its customer base that crypto assets are considered volatile because of how much and how quickly …

Gold prices continued to rise on Tuesday, maintaining an upward trend for the third consecutive session, The yellow metal front-month futures added $2.40, or 0.13%, to finish $1,805.60 per ounce. This marked the biggest gain for gold futures since August 17 and the highest settlement value since August 4. Gold …

European stocks stalled on Tuesday, closing marginally lower, after rebounding for two consecutive sessions. Markets are anticipating tomorrow’s release of the IFO data in Germany, which includes important indicators for the business climate in the continent’s largest economy. The STOXX Europe 600 index slipped by 0.09 points or 0.02% to …

The Federal Reserve Bank of Richmond Survey of Manufacturing Activity’s composite index declined to a reading of 9 in August from 27 in July, data showed on Tuesday. The reading indicates a slowdown in manufacturing activity to its lowest level since June 2020. The shipments index also decreased to 6 …

New home sales in the United States increased last month, as the housing market continues to show signs of strength, data showed on Tuesday. The sales of new single-family homes increased by 6.6% to a seasonally adjusted annual rate of 708,000 units in July, according to the U.S. Department of …

The Federal Reserve Bank of Philadelphia’s business activity index declined to 39.1 in August from 53.8 in July. Further details of the publication showed that the Firm-level Business Activity Index declined to 37.2 from 44.8 and the Full-time Employment Index declined to 8.2 from 24.8.

Home sales in Britain during the month of July decreased by about 63%, after reducing a tax exemption aimed at encouraging home purchases during the Coronavirus crisis. The British Tax Office said Tuesday, August 24, that the number of homes sold in July, after adjusting for seasonal factors, was 73,740, …