Tag: Forex News Round Up

Oil Prices Rise but supply remains in foucs

Oil futures rose Friday as global investors assessed the next leg for volatile stock markets, but signs of rising crude supplies contributed to an overall weekly loss of roughly 4%. November West Texas Intermediate crude CLX8, +0.41% rose 41 cents, or 0.6%, at $71.38 a barrel on the New York Mercantile Exchange. It was poised for a weekly […]

IMF Lagarde Defends Fed Chair on Monetary Policy

The head of the International Monetary Fund on Thursday defended Federal Reserve Chairman Jerome Powell one day after U.S. President Donald Trump criticized the American central bank, which has been raising U.S. interest rates, as “crazy.” “I wouldn’t associate Jay Powell with craziness,” Managing Director Christine Lagarde told CNBC in an interview. “He comes across […]

OPEC Oil Production Higher to Cover Iranian Drop

Several OPEC members, led by Saudi Arabia and Libya, put enough new barrels on the market in September to offset a drop in production from Iran, where U.S. sanctions are whittling away at the nation’s crude exports, according to a monthly report. The 15-nation producer group also knocked down its forecast for oil demand in […]

Oil Drops as OPEC Comments and Inventories in Spotlight

Oil prices slumped to two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearish by an industry report showing U.S. crude inventories rising more than expected. Brent crude LCOc1 fell $1.95 a barrel to a low of $81.14, its weakest since September 26, before recovering a little to trade around […]

OPEC Says Market is Well Supplied

OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group’s secretary-general said on Thursday, suggesting producers are in no rush to expand a June agreement that raises output. Oil prices have rallied this year on expectations that U.S. sanctions on Iran will strain supplies by lowering […]

US Inflation Rises Less Than Expected in September

U.S. consumer prices rose less than expected in September, held back by a slower increase in the cost of rent and falling energy prices, as underlying inflation pressures appeared to cool slightly. The modest price increases come despite a U.S. labor market that looks robust by most measures. A separate report on Thursday showed an […]

US President Trump Warns China on Trade

U.S. President Donald Trump warned on Thursday there was much more he could do that would hurt China’s economy further, showing no signs of backing off an escalating trade war with Beijing. President Donald Trump said Tuesday that he does not like the Federal Reserve’s decision to continue to hike interest rates. He also said […]

US Stock Market Rebounds After Lower Inflation

The S&P 500 and the Nasdaq turned positive on Thursday as Treasury yields headed lower after data showed consumer prices rose less than expected in September, indicating inflation pressures were easing. The Consumer Price Index (CPI) increased 0.1 percent last month. The so-called core CPI, which excludes volatile food and energy components, also edged up […]

Bitcoin Vulnerable to IMF Comments Falls

Bitcoin’s role as a “safe haven” asset in turbulent times is looking more unlikely. As the U.S. stock market saw its biggest drop since February on Wednesday, the largest digital currency dropped 6 percent along with it. Bitcoin, sometimes referred to as “digital gold,” and other top cryptocurrencies wiped out $13 billion of value in […]

U.S producer prices increase for first time in three months

U.S. producer prices rose for the first time in three months amid a surge in gauges reflecting airfares and rail-transportation costs, a Labor Department report showed Wednesday in Washington. HIGHLIGHTS OF PRODUCER PRICES (SEPTEMBER) Producer-price index rose 0.2% m/m (matching est.) after a 0.1% drop in prior month; up 2.6% y/y (est. 2.7%) after 2.8% […]