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
Dollar soft after Powell bolsters Fed rate cut bets
Thursday, 11 July 2019 08:11 WIB | DOLLAR Indeks Dolar Dolar AS

The dollar was soft on Thursday after Federal Reserve Chairman Jerome Powell set the stage for a rate cut later this month, vowing to "act as appropriate" to ensure the world's biggest economy will be able to sustain a decade-long expansion. In testimony to Congress, Powell pointed to œbroad global weakness that was clouding the U.S. economic outlook amid uncertainty about the fallout from the Trump administrations trade conflict with China and other nations. Adding to a generally dovish tone in his testimony, the minutes from the Fed's previous policy meeting showed many policy...

U.S. Oil Prices Jump Past $60 to Highest Finish in 7 Weeks
Thursday, 11 July 2019 02:27 WIB | Minyak WTI Minyak WTI

U.S. oil futures jumped above $60 a barrel on Wednesday to mark their highest finish in seven weeks, following a fourth straight weekly decline in U.S. crude inventories. The expected formation of a tropical cyclone by Thursday in the Gulf of Mexico, meanwhile, raised concerns of potential disruptions to oil and natural-gas production in the region, providing further support to oil prices. Weakness in the dollar, following remarks from Federal Reserve Chairman Jerome Powell, also provided a boost U.S. crude benchmark prices, which are traded in the greenback. August West Texas...

Gold Futures End at 1-Week High as U.S. Dollar Dips on Dovish Remarks From Fed Chair Powell
Thursday, 11 July 2019 01:27 WIB | GOLD EMAS

Gold futures climbed sharply on Wednesday to log their highest finish in a week, as the U.S. dollar weakened on remarks from U.S. Federal Reserve Chairman Jerome Powell that were perceived as dovish. In testimony to Congress, Powell said Wednesday that the U.S economy is suffering from trade policy uncertainties and slower global economic growth and he pledged again that the central bank would act as needed to support demand. Against that backdrop, gold for August delivery on Comex rose $12, or 0.9%, to settle at $1,412.50 an ounce, settling at the highest for a most-active contract since...

Gold jumps as Fed Chair remarks boost rate cut hopes
Wednesday, 10 July 2019 20:58 WIB | GOLD EMAS

Gold reversed course to jump nearly 1% on Wednesday after Federal Reserve Chairman Jerome Powell highlighted risks to the U.S. economy and bolstered expectations of an interest rate cut later this month. Powell will present his remarks and take questions from members of the U.S. House of Representatives Financial Services Committee beginning at 10 a.m. EDT (1400 GMT), and will testify again on Thursday before the Senate Banking Committee. Spot gold was up 0.8% to $1,409.36 per ounce at 1303 GMT, reversing a decline earlier in the session. U.S. gold futures were up 0.8% to $1,411.3 per...

Oil heads for fifth straight gain, buoyed by expected drop in U.S. stockpiles
Wednesday, 10 July 2019 18:41 WIB | Minyak WTI Minyak Brent

Oil prices shot higher Wednesday, working toward a string of five uninterrupted daily gains, as preliminary U.S. data showed a larger-than-expected drop in supply. The price gain was also due to several companies having œevacuated and reduced production at their offshore platforms in the Gulf of Mexico following a warning that a tropical disturbance is set to turn into a storm later this week, JBC Energy analysts reported, according to the Wall Street Journal. August West Texas Intermediate crude rose $1.38, or 2.3%, to $59.20 a barrel on the New York Mercantile Exchange. The...

Gold Drifts Below $1,400 Awaiting U.S. Rate-Cut Clues
Wednesday, 10 July 2019 17:53 WIB | GOLD EMAS Spot Emas

Gold traded below $1,400 an ounce as investors awaited testimony by Federal Reserve Chairman Jerome Powell later Wednesday for clues on monetary policy and minutes from the central bank's last gathering. Powell's two days of semiannual testimony in Congress on the economic and policy outlook will be closely parsed, with traders pricing in a rate cut this month, although what the central bank does afterward is uncertain. Also on investors' radars is the latest on the U.S.-China trade war as top officials from both countries hold first talks by phone after the...

U.S. Dollar Flat Ahead of Powell's Speech
Wednesday, 10 July 2019 15:09 WIB | DOLLAR Indeks Dolar

The U.S. dollar was flat on Tuesday in Asia as expectations of aggressive interest rate cut reduced following a strong jobs report released late last week. The U.S. dollar index that tracks the greenback against a basket of other currencies was unchanged at 96.977 by 1:12 AM ET (05:12 GMT). As many as 10 U.S. central bankers, including Federal Reserve chairman Jerome Powell, are set to speak this week. The Feds June meeting minutes are also due on Wednesday. Data released last Friday showed a sharp rebound in U.S. job growth in June and reduced expectations that the Fed will cut...

Oil rises on falling U.S. stockpiles, Gulf storm forecast
Wednesday, 10 July 2019 13:24 WIB | Minyak WTI Brent Minyak Mentah Oil,

Oil prices rose on Wednesday after industry data showed U.S. stockpiles fell far more than expected, alleviating concerns about oversupply, while major U.S. producers evacuated rigs in the Gulf of Mexico ahead of a brewing storm. West Texas Intermediate (WTI) crude climbed 85 cents, or 1.5%, to $58.68 by 05:41 GMT. Brent was up 64 cents, or 1%, at $64.80, having earlier hit $64.95. The U.S. and global benchmarks have gained this year as the Organization of the Petroleum Exporting Countries (OPEC) and big producers such as Russia have curbed output to bolster prices. However, ongoing trade...

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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...