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Friday, 3 July 2020 22:04 WIB

The dollar edged up on Friday but was set for its biggest weekly fall since the start of June, as a sentiment boost from better-than-expected jobs data in the United States was tempered by surging coronavirus cases. The U.S. Labor Department said on Thursday that payrolls surged in June but the reaction in currencies was limited. Even after two months of job recovery from May, the U.S. economy has regained just over a third of an historic plunge of 20.787 million jobs lost in April. Against a basket of currencies, the dollar rose less than 0.1%, to 97.249 at 13:53 GMT. Friday saw its...

RECENT NEWS
Gold Pushes Higher After Best Quarter in Four Years
Wednesday, 1 July 2020 15:19 WIB | GOLD EMAS

Gold is continuing to rise after setting its best quarter in four years due to coronavirus concerns and negative real interest rates. Spot gold is up 0.5% at $1,788.75 a troy ounce, while futures are up 0.3% at $1,805.80 an ounce. Investors are watching U.S. inflation-adjusted Treasury bonds for gold clues. Those bond's yields--known as real yields--are currently negative, meaning investors must pay to own them. This makes gold a more attractive haven and a cheaper hedge against inflation. "The negative relationship between U.S. 10 year real yields and gold has been the most reliable...

Dollar Steadies, Yen Gains; European Economic Data in Focus
Wednesday, 1 July 2020 15:08 WIB | DOLLAR Yen Euro Dolar AS

Currency traders were broadly cautious in early London trading on Wednesday, with the Japanese yen seeing its first session of gains in more than a week, before key European and U.S. economic data. The dollar rose overnight before erasing gains, ahead of U.S. manufacturing data for June, which is expected to show a rebound in activity. The dollar was up around 0.2% on the day at 97.407 against a basket of currencies at 07:32 GMT, European economic data was also in focus, with eurozone manufacturing PMI due at 08:00 GMT, and German unemployment data at 07:55 GMT. The euro was broadly flat...

Dollar Bides Time Ahead Of U.S. Manufacturing, Jobs Data
Wednesday, 1 July 2020 13:40 WIB | DOLLAR

The dollar held steady against the euro on Wednesday ahead of data expected to show U.S. manufacturing activity and hiring continued to recover from the economic shock caused by the coronavirus pandemic. The euro was hemmed into a narrow range as traders awaited data on Germanys manufacturing sector, retail sales, and the jobless rate to gauge the health of the eurozone economy. The yen firmed slightly on safe-haven flows after a top government spokesman said Japan could re-impose a state of emergency in response to the coronavirus. A surge in new infections in the U.S. south and...

Oil Rose Toward $40 on Signs U.S. Stockpiles Are Shrinking
Wednesday, 1 July 2020 11:33 WIB | Minyak WTI Brent

Oil rose after its best quarter in almost three decades following a report pointing to the first drop in U.S. crude stockpiles since May. Futures in New York climbed toward $40 a barrel after closing down 1.1% on Tuesday. The industry-funded American Petroleum Institute said that inventories shrunk by 8.16 million barrels last week, according to people familiar with the data. That would be the largest draw this year if confirmed by Energy Information Administration figures due later on Wednesday. While the stockpiles data spurred some optimism, the demand outlook for the...

Gold Firms Near 8-Year Peak As Virus Fears Prompt Safe-Haven Demand
Wednesday, 1 July 2020 10:37 WIB | GOLD EMAS

Gold prices edged higher on Wednesday, hovering near an eight-year high, as a spike in COVID-19 infections in the United States assuaged hopes of a swift economic rebound, pushing investors towards the safety of bullion. Spot gold edged up 0.1% at $1,782.21 per ounce by 0115 GMT, after hitting its highest since early October 2012 at $1,785.46 in the previous session. U.S. gold futures eased 0.1% to $1,799.30. Fresh U.S. coronavirus cases could more than double to 100,000 per day if the current surge spirals further out of control, the governments top infectious disease expert warned on...

Dollar Holds Gains Versus Yen Before Major Economic Data
Wednesday, 1 July 2020 08:15 WIB | DOLLAR Yen

The dollar held onto gains against the yen on Wednesday ahead of data expected to show U.S. manufacturing activity and hiring continued to recover from the economic shock caused by the coronavirus pandemic. The euro was hemmed into a narrow range as traders awaited data on Germanys manufacturing sector, retail sales, and the jobless rate to gauge the health of the eurozone economy. A surge in coronavirus infections in the U.S. south and southwest has worried some market participants, but most investors are betting this will not be enough to derail a broader rebound in the global...

Oil Rises Toward $40 on Signs U.S. Stockpiles Are Shrinking
Wednesday, 1 July 2020 07:45 WIB | Minyak WTI Brent

Oil rose after its best quarter in almost three decades following a report pointing to the first drop in U.S. crude stockpiles since May. Futures in New York climbed toward $40 a barrel after closing down 1.1% on Tuesday. The industry-funded American Petroleum Institute said that inventories shrunk by 8.16 million barrels last week, according to people familiar with the data. That would be the largest draw this year if confirmed by Energy Information Administration figures due later on Wednesday. While the stockpiles data spurred some optimism that oil consumption was improving,...

Oil futures end down for the session, but post a more than 90% gain for the quarter
Wednesday, 1 July 2020 02:49 WIB | GOLD EMAS

Oil futures settled with a loss on Tuesday, down nearly 36% in the first half of the year, according to FactSet data, as the spread of COVID-19 continued to feed expectations for weaker energy demand. U.S. benchmark prices, however, ended the second quarter up by almost 92%, rebounding from a record dip to a negative settlement in April as a group of major oil producers moved to reduce oil production and amid signs of some recovery in demand for oil. August West Texas Intermediate oil CLQ20, -0.78% fell 43 cents, or 1.1%, to settle at $39.27 a barrel on the New York Mercantile...

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PRECIOUS METALS
Gold flat as virus fears offset gains in equities
Friday, 3 July 2020 17:11 WIB

Gold prices were little changed on Friday as worries over an accelerating number of coronavirus cases countered a fillip to risk sentiment from positive U.S. and Chinese economic...

ENERGY
Crude Oil Lower; OPEC Disputes and Virus Cases Weigh
Friday, 3 July 2020 18:59 WIB

Oil markets slipped Friday as the resurgence of Covid-19 cases, particularly in the U.S., the largest consumer in the world, threatened the recovery of crude demand. At 7:30 AM ET (11:30 GMT), U.S....

CURRENCIES
Dollar Rises as Risk Appetite Tempered by Rising COVID-19 Cases in U.S.
Friday, 3 July 2020 22:04 WIB

The dollar edged up on Friday but was set for its biggest weekly fall since the start of June, as a sentiment boost from better-than-expected jobs data in the United States was tempered by surging...