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On Thursday, oil surged in Asia, backed by upbeat GDP data for the third quarter in China, which is the world's number one crude importer. Another factor was growing demand by China’s refineries.
November delivery crude futures grew 0.02% in New York being worth $52.05 a barrel. Meanwhile, Brent futures stood still, sticking to $58.15 a barrel.
On Thursday, China informed that its third quarter GDP showed an expected outcome, demonstrating a 1.7% leap on quarter as well as 6.8% soar on year. Meanwhile, industrial output grew 6.6%, which is more than the 6.2% jump observed in September, while fixed asset investment added 7.5%, which is below the 7.7% revenue observed. Additionally, the country’s retail sales ascended 10.3%, thus surpassing the anticipated 10.2% growth.
In September, China's domestic crude output sank 2.9% hitting 15.53 million metric tons, as the National Statistical Bureau revealed on Thursday.
On Tuesday, gold jumped, underpinned by hopes that the US main financial institution is going to send financial markets a more dovish message as for future monetary policy following the two-day policy gathering scheduled to start a bit later on Tuesday…
On Monday, gold managed to ascend because traders closely watched a busy week probably to be dominated by the Fed’s regular policy gathering…
On Thursday, in Asia, gold slipped notwithstanding the fact that China posted weaker-than-anticipated industrial output data…
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…
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