Gold surges a bit
On Friday, gold headed south…
Crude reaches 2-year maximum
On Monday, crude started the week on a positive note, underpinned by hopes that crude producers will decide to extend an output cut at their gathering at the end of November.
According to the original terms of the deal, OPEC along with 10 other non-OPEC producers led by Russia decided to reduce output by nearly 1.8 million barrels a day for up to six months. In May 2017 they extended the agreement for a period of nine months until March 2018 for the purpose of reducing global crude inventories and underpin crude prices.
Discussions will last till the November 30 meeting, where crude ministers from OPEC and also the participating non-OPEC producers will be present.
Crude prices obtained another boost because a sizable weekly sag in active American crude rigs to the lowest reading since May drove expectations for a slowdown in domestic crude output surge.
Oilfield services company Baker Hughes informed that the overall number of active American rigs drilling for oil went down by eight to 729 the previous week.
Similar
Gold goes up on weaker greenback
On Tuesday, the yellow metal managed to surge in Asia…
Gold adds as greenback dives on Powell
On Wednesday, the yellow metal faced its greatest one-day profit for more than a month, with Act One of the Federal Reserve and Act Two expected to be uncovered tomorrow…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
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…
Greenback edges down
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…
Deposit with your local payment systems
