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Oil prices declined on Friday, on expectations of increased crude output from Libya and uncertainty about the impact from the second wave of the Coronavirus pandemic. Brent crude futures for December delivery closed lower by 69 cents, or 1.6%, at $41.77 per barrel. Meanwhile, the US West Texas Intermediate (WTI) …

Gold prices rose on Friday as the US Dollar (USD) declined across the board, however, the yellow metal recorded its second consecutive weekly losses. Gold futures for December delivery added 60 cents, or 0.03%, and settled at $1,905.20 per ounce. The precious metal most active futures recorded a weekly decline …

The British Pound (GBP) is declining against the US Dollar (USD) and the GBP/USD pair broke the 1.3050 support level. After hitting a fresh daily low of 1.3019, the pair has recovered some of its losses, trading at 1.3041, lower by 0.32% for the day. The pair hit a high …

The US Dollar (USD) declined on Friday across the board, despite an expansion in business activity in the US, as shown by the most recent PMI reading. The Dollar Index (DXY), which measures the USD performance against a basket of six international currencies is down by 0.20% at 92.76, after …

The Australian Dollar (AUD) gave up some of its earlier gains against the US Dollar (USD) but maintained a positive performance during the last session of the week. The pair earlier reached its highest level in about a week, going as high as 0.7158, while its daily low came at …

The Euro (EUR) rose against the US Dollar (USD) on Friday but gave up some of its earlier gains as the USS is showing some signs of recovery. The EUR/USD is close to finish the week at its best level in about two months, supported by a recent decline by …

The number of active oil rigs in the United States increased by six to a total of 211 during the week, according to the weekly rig count report by Baker Hughes. This is the fifth consecutive rise in active drilling rigs in the US. Meanwhile, the total number of oil …

European stocks closed higher on Friday, supported by big gains by the banking sector and hopes for a new COVID-19 stimulus package in the United States. The STOXX Europe 600 index closed up by 0.49% at 362.01, limiting its weekly decline to around 1.5%. The UK’s FTSE100 finished higher by …

The Speaker of the United House of Representatives, Nancy Pelosi, said on Friday that there remains a possibility to agree on a new COVID-19 stimulus package before the November 3 election, Reuters reported. “We could do that before the election if the president wants to,” she told reporters, noting that …

The seasonally adjusted IHS Markit Flash United States Composite Output Purchasing Managers’ Index (PMI) posted 55.5 at the start of the final quarter of 2020, up from 54.3 in September, This is signaling the fastest increase in private sector business activity since February 2019. Service sector firms recorded a marked …