The dollar remains near its lowest level in a week which it reached earlier Thursday 27 August, before a speech by US Fed Chairman Jerome Powell is expected to hint that the bank will adjust its policy framework to help raise inflation. Powell is scheduled to deliver his speech at …
Read More »Gold Declines With Profit-Taking and Investors Awaited Signs From The US Federal
Gold fell Thursday, August 27th, following a sharp increase in the previous session as investors adjusted their positions to focus on whether the US Federal Reserve chairman will hint at a change in monetary strategy. By 06:22 GMT, spot gold fell 0.8% to 1938.32 dollars an ounce, after rising 1.3% …
Read More »Gold Futures Declined During Asian Session
According to the COMEX, gold futures were traded for December at $ 1949.80 per ounce, down 0.44%. It previously traded at a session low$ 1946.25 an ounce. Gold may find points of support at $ 1908.40 and resistance at $ 1970.30. The dollar index, which measures the performance of the …
Read More »Chinese Industrial Profits Rose at Fastest Pace in Two Years
Chinese industrial profits rose at the fastest pace in two years, as the sector’s monthly profits rose 8.1% in July. The annual profits of Chinese industrial companies grew by 19.6% to exceed $ 85 billion. This data is an additional indication of the recovery of the second-largest economy in the …
Read More »Oil prices stable as Gulf of Mexico Braces For Laura
Oil prices stabilized Thursday (August 27th) as a massive hurricane in the Gulf of Mexico affecting US oil industry, forcing oil drilling rigs and refineries to stop production. Brent crude futures for October delivery, which expire on Friday, rose 13 cents, or 0.3%, to $ 45.77 a barrel, after falling …
Read More »Pound Up, Ignoring Weaker Than Expected UK Retail Sales
The British pound rallied on Tuesday as the US dollar weakened and investors ignored an unexpected drop in monthly retail sales data in Britain. The dollar fell after investors returned to riskier currencies while a successful phone call between the United States’ top trade officials and China sparked a positive …
Read More »Cautious Trading of USD, Euro, and a rebound for Yuan
The dollar and euro were cautious in trading on Wednesday, August 26th, with dealers reluctance to make risky bets ahead of an important speech by US Federal Reserve Chairman Jerome Powell. In light of growing expectations that Powell will unveil a more tolerant policy towards inflation at the annual Jackson …
Read More »Oil Near Peak of 5 Months Thanks to the US Production Cut
Oil rose today, Wednesday, to about $ 46 a barrel, near the highest level since March, with the support of American producers stopping most of the offshore production from the Gulf of Mexico before Hurricane Laura and a report showing a decline in US crude stocks. But the gains were …
Read More »France: Number of Unemployed Fell by More Than 174,000 in July
French Labor Ministry data showed that the number of unemployed in the country fell by 174.3 thousand in July after a record low in June. The ministry added that the number registered with government employment offices as unemployed reached 4.046 million in July. Last month, France recorded the largest monthly …
Read More »US Capital Goods Orders Slowed Down in July
New orders for US-made capital goods slowed in July, indicating that the recovery in investment activities could gradually become more gradual over the course of the COVID-19 pandemic even as the industry’s recovery appears to be gaining momentum. The US Commerce Department said non-defense capital goods orders except aircraft, which …
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