European Union chair Germany has proposed a rule of law scheme for accessing EU funds in negotiations between member states and the European parliament, Reuters reported on Monday, citing an internal document. Quotes according to Reuters “Rule of law is essential, important to protect the EU’s financial interests, impartial courts.”“Respect for …
Read More »PBOC: We Will Maintain Ample Liquidity And Reduce Financing Costs
The People’s Bank of China said it will maintain reasonably ample liquidity and direct funding costs down. The People’s Bank of China said in a statement after a meeting of its monetary policy committee that it would make this policy more flexible and targeted. He went on to say that …
Read More »US Dollar Near a Two-Month High Amid Political And Economic Risks
The dollar traded near a two-month high against a basket of currencies on Monday, September 28, while doubts about an economic recovery continued before a batch of economic data and political developments in the United States. The recovery of US stocks on Friday contributed to limiting the rise of the …
Read More »Oil is Falling on Uncertainty Surrounding The Recovery of Demand
Oil prices fell on Monday, September 28, as the high number of coronavirus cases dampened hopes for a smooth recovery in fuel demand, while the two major benchmarks are moving towards recording their first monthly decline in several months after falling last week. By 06:52 GMT, Brent crude was down …
Read More »Gold Rises as US Dollar Weakens, Eyes on a debate between Trump and Biden
Gold prices rose on Monday, September 28, as the dollar retreated from a two-month high last week as political uncertainty increased ahead of the first presidential debate between US President Donald Trump and his Democratic rival, Joe Biden. Gold rose in the spot market 0.1% to $ 1861.13 an ounce …
Read More »Nikkei Ends Higher on Boost From Ex-Dividend Stocks
Japanese stocks closed higher on Monday, September 28, in light of greater demand for stocks whose cash dividends are due to expire this week, but US-Chinese tensions limited the gains. The Nikkei rose 1.32% to 2,3511.62 points, while the broader TOPIX index gained 1.69% to 1,661.93 points. All sub-sector indices …
Read More »OPEC: Oil Inventories in Advanced Economies Below an Average of 5 years in Q1 2020
Mohamed Barkindo, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Sunday (September 27th) that oil stocks in the Organization for Economic Cooperation and Development countries in the first quarter of 2021 are expected to remain above their five-year average by a slight margin before falling below …
Read More »Russian Energy Minister Warns of Covid-19 Risks to Global Oil
Russian Energy Minister Alexander Novak said that the global oil market has stabilized in the past few months and that the balance between supply and demand has been restored, while uncertainties continue, such as the rise in COVID-19 cases. He also said that talks about the possibility of transferring exports …
Read More »Nikkei is Up 0.81% in Early Trading in Tokyo
The Nikkei index rose in early trading on the Tokyo Stock Exchange on Monday, September 28th. Nikkei rose 0.81% to 23391.96 points, while the broader Topix index rose 0.74% to 1646.28 points.
Read More »Gold Futures: Further Rangebound Likely
Open interest in Gold futures markets shrunk by nearly 1.6K contracts on Friday, clinching the second drop in a row in light of preliminary figures from CME Group. Volume, in the same line, went down for the second consecutive day, now by almost 127K contracts.
Read More »