Breaking News

Commodities nudge higher, Dollar weakens.

News Date: 24/12/2015 00:24:48
 

Oil prices jumped about 3.0% yesterday on a surprise drop in U.S. crude inventories, as the official count, released by the Energy Information Administration (EIA), showed inventories fall by 5.88 million barrels to 484.78 million this week, against forecasts of a 1.4 million rise. Brent crude futures extended their gains today, advancing 30 cents, or 0.79% to $37.65 a barrel. U.S. West Texas Intermediary (WTI) crude futures traded at a premium over Brent, buoyed by an end to a 40-year ban on U.S. oil exports; the futures gained 24 cents, or 0.64% to $37.74 a barrel. The outlook remains gloomy for oil however, as OPEC lowered its forecasts to future demand on its oil, and the markets remain awash by excessive supply.

 

Other commodities fared good as well, with gold futures adding $3.7, or 0.35% to $1,074.24 an ounce. Silver rose 2 cents, or 0.14% to $14.33 an ounce. Copper futures were flat at $2.126 a pound, not far from a month-high scaled overnight at $2.133.

 

Dollar gave up ground following mixed data on Wednesday, which showed Core Durable Goods Orders fall by 0.1% m/m in November, while Personal Income rose 0.3% m/m. Dollar's index, which measures its performance against a basket of its rivals, edged 0.20% lower to 98.19. Dollar slipped 0.22% against the euro to 1.0937. It lost 0.21% against sterling to 1.4886, moving farther away from an eight-month high reached on Tuesday at 1.4807. Dollar gave up 0.32% against the yen to 120.56.  

 

Asian shares were largely mixed, with China's CSI300 index for the biggest companies in Shanghai and Shenzhen diving 1.65%. Japan's Nikkei, which closed yesterday for the Emperor's Birthday, fell 0.40%. Australia's S&P/ASX 200 index jumped 1.30%, while Korea's KOSPI was flat at 1,999.

 

Wall Street closed higher for the third consecutive session, settling at a week-high, with Dow Jones jumping 185 points, or 1.06% to 17,602. NASDAQ added 44 points, or 0.90% to 5,045. S&P 500 gained 25 points, or 1.24% to 2,064, making it the biggest riser.  

 

Investors will have their eyes on the U.S. unemployment claims, forecast at 270K for last week, a shade lower than the previous week's 271K. The lower the claims are the better for the currency.

 

Latest news

Futures contracts for gold declined with European trading after it was high in the Asian session : with the beginning of today’s hours, futures contracts rose by 0.66%, to be traded at a price
09-2020 21 09:52:41

Gold futures rose for December delivery according to the Asian session on Friday. As it increased by 0.47%, to be traded at the price of 1959.00 dollars per ounce, and it was previously traded at a
09-2020 18 06:02:31

Oil prices rose this morning, due to the halt in oil and gas production due to a hurricane in the United States of America, as the price of crude oil increased by approximately 1.5%, reaching 41.13 d
09-2020 16 06:30:20

We open the trading week with a rise in gold prices today, after it witnessed a decline in the last days of last week, as it is a safe haven for investors, especially when crises that negatively affe
09-2020 14 06:22:57

Gold prices experienced a remarkable decline at the beginning of the week after it concluded its Asian trading at a high, affected by the great rush of investors, if this morning the gold futures con
08-2020 31 08:11:31

More News

Logs

Advertisements