Crude Oil remains under pressure from higher production and unexpected rise in crude stocks
WTI oil remains in red for the third consecutive day and holding near two-week low on Friday, deflated by signals that OPEC+ will announce further production increase in its meeting over the weekend and unexpected rise in US crude…
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US private payrolls fell below expectations in August – ADP
Hiring in US private sector rose below expectations in August, adding to growing concerns about slowdown in the US labor market.
The ADP National Employment Report showed that private sector added 54,000 jobs last month, compared to…
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GOLD – bulls consolidate under new record high ahead of key US data
Gold edged lower in early Thursday on partial profit-taking from the steep rally in past seven days, which broke above $3500 and hit new record high at $3578, advancing over 7% from the Aug 20 higher low at $3310 and gaining around 2% on…
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US manufacturing sector contracts for the sixth consecutive month in August – PMI
The US Manufacturing PM, which accounts for 10.2% of the economy, rose to 48.7 in August from 48.0 previous month, but disappointed expectations for rise to 49.0.
Although the Index advanced last month it remained below 50 threshold,…
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Eurozone inflation ticks up in August, in line with expectations
Eurozone inflation picked up to 2.1% in August from 2.0% in July, in line with expectations, but remained close to the European Central Bank's 2% target, adding to market bets that the central bank will keep interest rates…
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Gold holds near new record high, US labor data may spark fresh rally
Gold continued to trend higher and spiked to the highest levels since late April, just ticks under new record high on Monday.
Weaker dollar on growing bets for Fed’s September rate cut, following more dovish comments from US policymakers…
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Dollar remains weak on Fed rate cut expectations, eyes release of key US data
The dollar index remains in red for the fifth straight day and probes again through key supports at $97.61/52 (daily cloud base / Fibo 61.8% of 95.97/100.04) which have so far contained a number of attacks and marks solid supports.
The…
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Silver surges through $40 and hits the highest since 2011
Silver accelerated higher at the start of the week (up over 2% in Asia / early Europe on Monday) and broke above psychological $40 barrier for the first time in over a decade.
Fresh gains hit the highest since April 2011 and cracked Fibo…
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Gold advances further on growing expectations of Fed rate cut
Gold price rose further on Friday and hit the highest since mid-June, after relatively benign US inflation data (PCE) added to expectations for Fed rate cut in September and opened prospects for probably one more cut by the end of the year.…
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US core inflation climbs in July – PCE
The Personal Consumption Expenditures (PCE) Price Index, Fed’s preferred inflation gauge, increased 0.2% m/m in July, down from 0.3% rise in June and in line with expectations, while annualized PCE Price Index rose 2.6%, unchanged from…
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