
The oil price looks optimistic. What are the reasons?
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.
The oil price looks optimistic. What are the reasons?
Congratulations! Gold has just opened a new era... or, rather, reopened...
Gold (XAU/USD) is declining for the second day in a row. The reason of such a dynamic is that investors have turned to stocks.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Jump in to know the key market events and trading ideas for this week!
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
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