Observing news today one can easily get disappointed. However, things are getting better.
Crude inches up in Asia on China trade
On Friday, crude managed to earn in Asia because China August trade data happened to be supportive in Yuan terms, although overall greenback figures demonstrated a tumble from July.
October delivery crude futures grew 0.22% in New York trading at $49.20 a barrel. In London, Brent futures soared 0.31% being worth $54.66 a barrel.
In China the trade balance data showed a surplus of $41.99 billion, which is definitely narrower than the expected $48.6 billion for August. As a matter of fact, imports rallied 13.3%, which is better than the 10% revenue observed, while exports went up 5.5%, versus a profit of 6% supposed.
In August, China’s crude imports hit 33.98 million metric tons, versus July’s 34.74 million metric tons.
A bit earlier, China announced that Yuan-denominated exports tacked on 14.4% on year.
Inventories of American crude leapt by approximately 4.6m barrels by September 1, thus missing expectations of a jump of ju8st 4m barrels.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
US Fed comes right on time with the crisis support program announcement. How does the stock market react?
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
Here are the most important topics that will determine the dynamics of currencies, commodities and stocks on Thursday, April 9. N