On Friday, gold managed to rally following the publication of American economic reports overnight…
Crude soars on Saudi promise to make real supply cuts
On Tuesday, crude prices added, underpinned by statements that OPEC-leader Saudi Arabia was making considerable supply drops to customers, though ascending American output meant financial markets were still well supplied.
Brent crude futures hit $48.42, tacking on 0.3% from their previous close.
American West Texas Intermediate crude futures reached $46.21 per barrel, gaining 0.3%.
Saudi Arabia, the world's number one crude exporter, is currently leading an effort by the Organization of the Petroleum Exporting Countries to reduce output by nearly 1.8 million barrels bpd until the end of the first quarter of next year for the purpose of propping up prices. As for other countries, including top producer Russia, they’ve joined the initiative too.
During the first half of 2017, there were doubts as for OPEC's compliance with its ambitious promise, especially considering that supplies to Asia are still high.
On Thursday, gold extended a mild revival in the face of mixed American data as well as a stock market stabilizing near record maximums…
Bulls could not hold yesterday's gains for USD/JPY.
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…