Tuesday, 07 July 2020
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Tuesday, 7 July 2020 02:53 WIB

Oil futures ended largely steady on Monday as positive economic data supported prices, while a spike in coronavirus cases in the United States that could curb fuel demand pressured prices. Brent crude settled at $43.10 a barrel, up 30 cents. U.S. West Texas Intermediate (WTI) crude settled at $40.63 a barrel, down 2 cents. Production by the Organization of the Petroleum Exporting Countries (OPEC) has fallen to its lowest in decades. OPEC and other producers including Russia, collectively known as OPEC+, have agreed to lower output by a record 9.7 million barrels per day (bpd) for a third...

RECENT NEWS
Euro weakens as dollar holds ground despite Fed rate cut bets
Tuesday, 16 July 2019 15:11 WIB | Euro EUR/USD

The euro fell on Tuesday as investors waited for a sentiment reading of Germany's economy, although the prospect of more central bank easing starting with the Federal Reserve later this month kept currency moves limited. The single currency stood at $1.1251 in early London trading, down slightly on the day. Foreign exchange markets have been notably quiet in recent weeks, with investors focused on economic data releases to decide when and by how much central banks will seek to stimulate their economies. Volatility in currency markets has plummeted in recent weeks, according to the...

Oil Holds Losses as U.S. Output Returns After Gulf Storm Weakens
Tuesday, 16 July 2019 14:01 WIB | Minyak WTI Brent

Oil held losses below $60 a barrel after the biggest decline in almost two weeks as a tropical storm that shut almost three-quarters of U.S. Gulf of Mexico production moved inland. Futures were little changed after sliding 1.1% on Monday. Offshore oil producers and refiners along the coast are restoring operations after storm Barry was downgraded, with about 69% of crude output in the U.S. Gulf of Mexico still shuttered, down from a peak of 73% on Sunday. American crude inventories probably declined for a fifth week, according to a Bloomberg survey. While...

Gold Slips Before U.S. Retail Sales Data, Fed Speeches
Tuesday, 16 July 2019 09:28 WIB | GOLD EMAS

Gold retreated ahead of U.S. economic data and potential commentary on monetary policy from a slew of Federal Reserve officialsscheduled to speak this week. Traders will be looking to U.S. retail sales due Tuesday for clues on the health of the economy, one day after China showed signs that a stabilization is emerging following the weakest pace of growth since quarterly data began in 1992. While markets are expecting the Fed to lower interest rates at its July 30-31 meeting, the debate now is how deep they will cut and what will they do afterward. Spot...

AUD/JPY Unfazed by RBA Minutes, Remains On The Bids Around 76.00
Tuesday, 16 July 2019 09:10 WIB | Dolar Australia, AUD,

Despite the Reserve Bank of Australias (RBA) latest monetary policy meeting minutes highlighting the central banks readiness to act œif needed, the AUD/JPY remains firm around 76.00 during early Tuesday. In its monetary policy meeting minutes for the July 02 decision, the RBA fails to offer any direct signs for future actions and rather highlighted incoming data flow after announcing 2 such rate hikes during the year. The pair recently took advantage of Chinas data-dump and Japans recent holiday to rally to a 2-week high. It should also be noted that investors showed...

Oil Extends Drop as China Stokes Demand Worries
Tuesday, 16 July 2019 08:03 WIB | Minyak WTI Minyak WTI

Oil extended losses below $60 a barrel after slowing Chinese growth stoked demand concerns and a tropical storm that shut almost three-quarters of U.S. Gulf of Mexico production moved inland. Futures in New York lost 0.5%, after ending Mondays session down 1.1% for the biggest loss in almost two weeks. With Hurricane Barry now ashore and weakening, drillers have begun restaffing offshore installations in the Gulf. About 69% of crude output remained shuttered, the U.S. government said Monday, down from 73% over the weekend. Chinese government data, meanwhile, showed the...

Oil prices end lower after last week's gains as Gulf storm threat passes
Tuesday, 16 July 2019 03:16 WIB | Minyak WTI Minyak jenis Brent

Oil futures settled lower Monday, giving back a portion of last week's sizable gains, as production in the Gulf of Mexico began a post-storm recovery. August West Texas Intermediate crude fell by 63 cents, or 1.1%, to settle $59.58 a barrel on the New York Mercantile Exchange, pulling back after finishing last week with a 4.7% gain. Meanwhile, international benchmark September Brent lost 24 cents, or 0.4%, to $66.48 a barrel on ICE Futures Europe. Brent gained 3.9% last week. Natural-gas futures, meanwhile, declined Monday, with August natural gas down 4.5 cents, or 1.8%, at $2.408 per...

Gold prices settle at nearly two-week peak
Tuesday, 16 July 2019 01:55 WIB | GOLD EMAS

Gold futures edged higher on Monday, settling at their highest in almost two weeks as prices extended recent gains scored on the back of expectations for a U.S. Federal Reserve interest-rate cut at the end of the month. Gold for August delivery on Comex added $1.30, or about 0.1%, to settle at $1,413.50 an ounce. Thats the highest most-active contract settlement since July 3, which saw a finish at $1,420.90”the highest since May 2013, FactSet data show. September silver also rose 12.9 cents, or 0.9% to $15.365 an ounce. In other metals trade, October platinum rose $10.60, or 1.3%, to...

Gold steadies on mixed Chinese data, higher equities curb gains
Monday, 15 July 2019 20:28 WIB | GOLD EMAS Spot Emas

Gold steadied on Monday after data showed Chinese economic growth slowed to its weakest in about 27 years, while gains in equities curbed appetite for bullion as investors latched onto some positive readings from the world's second-biggest economy. China's second-quarter annual GDP growth fell to a 27-year low of 6.2% as expected, but its quarterly growth reading of 1.6% beat forecasts. June reports on industrial production, retail sales and urban investment were above expectations. Spot gold had inched 0.2% lower to $1,412 per ounce, reversing some losses ahead of the data. U.S. gold...

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PRECIOUS METALS
Gold futures finish higher, near 1-week high
Tuesday, 7 July 2020 01:35 WIB

Gold futures moved higher on Monday, building on last week's climb to mark their highest finish in almost a week. The ICE U.S. Dollar Index was down 0.4% in Monday dealings, providing a boost to...

ENERGY
Oil steady as hopeful economic data face spike in virus cases
Tuesday, 7 July 2020 02:53 WIB

Oil futures ended largely steady on Monday as positive economic data supported prices, while a spike in coronavirus cases in the United States that could curb fuel demand pressured prices. Brent...

CURRENCIES
Sterling Falls vs Euro, Steady vs Dollar; Chancellor's Support Measures in Focus
Monday, 6 July 2020 15:46 WIB

The pound fell against the euro, as the common currency rose on Monday, and held steady against the U.S. dollar, as traders looked ahead to this month's Brexit negotiations and more government...