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Saturday, 25 January 2020 03:00 WIB

Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices. A slowdown in China's economy would impact demand because China is the world's largest crude oil importer, after importing a record 10.12 million barrels per day in 2019, according to data from the General Administration of Customs. China is also the second-largest oil consumer, behind the United States. On Friday, U.S. West Texas Intermediate crude futures fell 2.5%, or $1.40, to settle at $54.19. At the session low WTI hit $53.85, its lowest level since Oct. 31. This was the fourth straight day...

RECENT NEWS
Gold prices notch gains for the day and week as coronavirus fears intensify
Saturday, 25 January 2020 02:08 WIB | EMAS GOLD

Gold prices finish higher on Friday, ending at the highest settlement in about three weeks as a viral outbreak originating out of China continued to grow. February gold closed $6.50, or 0.4%, higher at $1,571.90 an ounce on Comex. The metal also marked a weekly gain of 0.4%. China has moved to restrict movement of some 46 million people in and out of cities near the center of the outbreak, while also canceling Lunar New Year events as the number of infections continued to rise. The virus also continued to spread to other countries. Friday's settlement marks gold's highest since Jan.7,...

Dollar Rises vs Euro as European PMI Data Fails to Impress
Friday, 24 January 2020 23:32 WIB | EuroDolar Euro DOLLAR

The dollar rose to a near eight-week high against the euro on Friday as lukewarm European PMI data added to the broader market conviction that European central bank policymakers will maintain a loose monetary policy for the near future. Euro zone business activity remained lackluster with the IHS Markit's Euro Zone Composite Flash Purchasing Managers' Index (PMI), seen as a good gauge of economic health, holding at 50.9 in January but missing the median prediction in a Reuters poll for 51.2. That followed an earlier PMI from Germany, Europe's largest economy, which showed the private...

Gold Edges Lower as Traders Assess China Virus Outbreak
Friday, 24 January 2020 21:30 WIB | EMAS GOLD

Gold edged lower Friday as traders assessed the severity of a viral outbreak originating out of China a day after the World Health Organization said it was too early to declare a global emergency. Gold for February delivery on Comex fell $5.10, or 0.3%, to $1,560.30 an ounce, while March silver was up 13.1 cents, or 0.7%, at $17.96 an ounce. The yellow metal saw its highest close in more than two weeks on Thursday as the spread of the coronavirus triggered a selloff in global equities and fanned demand for haven assets. But U.S. stocks went on to largely recover from early weakness...

Oil Set for Weekly Slump as Asia Virus Adds to Demand Concerns
Friday, 24 January 2020 18:37 WIB | Crude Oil Oil, brent oil Minyak WTI

Oil headed for a 5% loss this week amid fears that Chinascoronavirus will erode fuel demand just as markets struggle with a fragile world economy and adequate supplies. Futures held above $55 a barrel in New York, buoyed by an unexpected drop in U.S. crude inventories and a political crisis in Libya that has halted the OPECmembers oil exports. Yet the signs of tighter supply paled against the International Energy Agencys assessment that œthe world is awash with oil, a surplus that could grow if the virus outbreak hits consumption of jet fuel...

Gold Inches Lower as Investors Seek Clarity on Virus Severity
Friday, 24 January 2020 18:30 WIB | EMAS GOLD

Gold edged lower on Friday as investors sought details on the severity of the China virus after the World Health Organisation stopped short of announcing the outbreak as a global emergency. Spot gold fell 0.2% to $1,559.28 per ounce by 0748 GMT, but was on track to gain 0.2% for the week. U.S. gold futures slipped 0.4% to $1,559.30. Asian shares inched higher following the WHO statement on Thursday that the new China virus does not yet constitute an international emergency. However, investors remained concerned about the spread of the virus ahead of the Lunar New Year, a peak period of...

Dollar Edges Higher as Virus Fears Ease; Euro Weakens
Friday, 24 January 2020 15:37 WIB | Dolar AS Euro Yen Dolar

The U.S. dollar is showing some strength against the safe haven Japanese yen Friday as a degree of calmness returns to traders who have fretted all week over the new pneumonia-like virus in China. By 02:50 ET (0750 GMT), the dollar had climbed 0.1% against the yen, with USD/JPY trading at 109.54. The US Dollar Index Futures, which tracks the greenback against a basket of other currencies, edged up 0.1% to 97.53. Elsewhere, the euro has shown weakness after the European Central Bank indicated no immediate movement from its current monetary policy stance at Thursdays meeting. President...

Oil steadies, but concern over spreading China virus weighs
Friday, 24 January 2020 09:58 WIB | Minyak WTI

Oil prices were steady on Friday, but on track for a fall of up to 5% for the week on growing concern that fuel demand will weaken as the spread of a respiratory virus from China that has killed 25 so far dents travel and darkens the economic outlook. Brent crude futures (LCOc1) were 4 cents lower to $62 a barrel by 0225 GMT, its lowest since Dec. 4, after falling 1.9% the previous session. For the week, Brent is down 4%. U.S. West Texas Intermediate futures (CLc1) were down by 1 cent to $55.58 a barrel, its lowest since Nov. 29. The contract fell 2% on Thursday and is 5% lower for the...

Euro near 7-week low after ECB; virus fears support yen
Friday, 24 January 2020 08:51 WIB | Euro

The euro hovered near a seven-week low against the dollar on Friday after the European Central Bank was seen as more dovish than expected, while anxiety over Chinas coronavirus outbreak propped up the safe-haven yen. The euro stood at $1.1055, touching a seven-week low of $1.1036 hit in U.S. trade on Thursday after the ECB held interest rates steady and launched a broad review of its policy. Concerns about the new disease bolstered the yen, which traded at 109.55 yen to the dollar, having risen to a two-week high of 109.26 on Thursday. The Australian dollar fetched $0.68415, having...

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PRECIOUS METALS
Gold prices notch gains for the day and week as coronavirus fears intensify
Saturday, 25 January 2020 02:08 WIB

Gold prices finish higher on Friday, ending at the highest settlement in about three weeks as a viral outbreak originating out of China continued to grow. February gold closed $6.50, or 0.4%,...

ENERGY
Oil Drops The Most Since May on Fears Coronavirus Will Hit Growth
Saturday, 25 January 2020 03:00 WIB

Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices. A slowdown in China's economy would impact demand because China is the world's largest crude oil...

CURRENCIES
Dollar Rises vs Euro as European PMI Data Fails to Impress
Friday, 24 January 2020 23:32 WIB

The dollar rose to a near eight-week high against the euro on Friday as lukewarm European PMI data added to the broader market conviction that European central bank policymakers will maintain a...