On Thursday, gold inched down and then recovered because downbeat American economic data compensated optimism over trade negotiations between America and China…
Crude is intact as firm Chinese demand counters soaring greenback
On Friday, crude prices were intact because the weight of a strengthening greenback was neutralized by China's relentless thirst for crude as well as the OPEC-led supply cuts, which have gradually tightened the market in 2017.
American West Texas Intermediate crude futures hit $56.70 a barrel, nearly intact from their previous settlement.
Brent crude futures soared 0.1% being worth $62.27 a barrel.
Market participants told that a strengthening greenback that has soared more than 0.9% this month versus a basket of other major currencies, put pressure on prices.
A growing US currency attracts investors switching investments between foreign exchange and commodity futures.
Preventing prices from diving further was booming crude demand from China. This year this Asian country is expected to overtake the US as the world's number one crude importer.
In November, China's crude imports tacked on to 37.04 million tons.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…