Forex Archive

  • Oil Prices Climb on Tighter U.S. Market, Disruption Risks Prices of oil rallied on Wednesday, propped up by a drawdown in U.S. crude stockpiles and worries that tensions in the Middle East could interrupt production and impact supplies. Brent crude futures rose 39 cents or 0.7 percent from their last settlement to trade at $58.27 per barrel. The international benchmark for oil prices are also trading a third above mid-year levels. Meanwhile, U.S. WTI crude futures stood at $52.13 per barrel, higher by 25 cents or 0.5 percent and almost a quarter higher than the mid-June levels. Traders stated that on charts for WTI a technical pattern called the 'Golden Cross' was looming, which is perceived as a bullish price indicator. According to traders, prices were lifted by a decline in U.S. crude inventories, as well as worries that the fighting in Iraq and increasing tensions between the U.S. and Iran could impact supplies. In the week to October 13, API reported U.S. crude ..

    Prime News: Oil Prices Climb on Tighter U.S. Market, Disruption Risks

    Oil Prices Climb on Tighter U.S. Market, Disruption Risks Prices of oil rallied on Wednesday, propped up by a drawdown in U.S. crude stockpiles and worries that tensions in the Middle East could interrupt production and impact supplies. Brent crude futures rose 39 cents or 0.7 percent from their last settlement to trade at $58.27 per barrel. The international benchmark for oil prices are also trading a third above mid-year levels. Meanwhile, U.S. WTI crude futures stood at $52.13 per barrel, higher by 25 cents or 0.5 percent and almost a quarter higher than the mid-June levels. Traders stated that on charts for WTI a technical pattern called the 'Golden Cross' was looming, which is perceived as a bullish price indicator. According to traders, prices were lifted by a decline in U.S. crude inventories, as well as worries that the fighting in Iraq and increasing tensions between the U.S. and Iran could impact supplies. In the week to October 13, API reported U.S. crude ..
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  • Oil Prices Climb on Tighter U.S. Market, Disruption Risks Prices of oil rallied on Wednesday, propped up by a drawdown in U.S. crude stockpiles and worries that tensions in the Middle East could interrupt production and impact supplies. Brent crude futures rose 39 cents or 0.7 percent from their last settlement to trade at $58.27 per barrel. The international benchmark for oil prices are also trading a third above mid-year levels. Meanwhile, U.S. WTI crude futures stood at $52.13 per barrel, higher by 25 cents or 0.5 percent and almost a quarter higher than the mid-June levels. Traders stated that on charts for WTI a technical pattern called the 'Golden Cross' was looming, which is perceived as a bullish price indicator. According to traders, prices were lifted by a decline in U.S. crude inventories, as well as worries that the fighting in Iraq and increasing tensions between the U.S. and Iran could impact supplies. In the week to October 13, API reported U.S. crude ..

    Prime News: Oil Prices Climb on Tighter U.S. Market, Disruption Risks

    Oil Prices Climb on Tighter U.S. Market, Disruption Risks Prices of oil rallied on Wednesday, propped up by a drawdown in U.S. crude stockpiles and worries that tensions in the Middle East could interrupt production and impact supplies. Brent crude futures rose 39 cents or 0.7 percent from their last settlement to trade at $58.27 per barrel. The international benchmark for oil prices are also trading a third above mid-year levels. Meanwhile, U.S. WTI crude futures stood at $52.13 per barrel, higher by 25 cents or 0.5 percent and almost a quarter higher than the mid-June levels. Traders stated that on charts for WTI a technical pattern called the 'Golden Cross' was looming, which is perceived as a bullish price indicator. According to traders, prices were lifted by a decline in U.S. crude inventories, as well as worries that the fighting in Iraq and increasing tensions between the U.S. and Iran could impact supplies. In the week to October 13, API reported U.S. crude ..
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  • IBM’s Business Shift Strategy Delivers Strong Results International Business Machines Corp. posted better-than-expected quarterly results as its change of focus towards newer businesses helped it beat analysts' estimates. Revenue from new units including cloud and security services and data analytics increased 11 percent to $8.8 billion in the third quarter ended September 30, representing around 46 percent of the firm's overall total revenue. The company has been focusing on these new businesses it calls “strategic imperatives” to offset a slowdown in its hardware and software businesses. Cognitive solutions business revenue increased by almost 4 percent to $4.40 billion, recovering from a 2.5 percent decline in the preceding period. Revenue in the mainframe business rose 60 percent in the third quarter. There was a general consensus that revenue would clock in at $4.17 billion, FactSet said. IBM said it anticipates revenue to increase to $2.8 billion to $2.9 billion ..

    Prime News: IBM’s Business Shift Strategy Delivers Strong Results

    IBM’s Business Shift Strategy Delivers Strong Results International Business Machines Corp. posted better-than-expected quarterly results as its change of focus towards newer businesses helped it beat analysts' estimates. Revenue from new units including cloud and security services and data analytics increased 11 percent to $8.8 billion in the third quarter ended September 30, representing around 46 percent of the firm's overall total revenue. The company has been focusing on these new businesses it calls “strategic imperatives” to offset a slowdown in its hardware and software businesses. Cognitive solutions business revenue increased by almost 4 percent to $4.40 billion, recovering from a 2.5 percent decline in the preceding period. Revenue in the mainframe business rose 60 percent in the third quarter. There was a general consensus that revenue would clock in at $4.17 billion, FactSet said. IBM said it anticipates revenue to increase to $2.8 billion to $2.9 billion ..
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  • UK Marketing Budget Growth Weakest Since 2016 UK companies' marketing budgets increased in the third quarter but the pace of growth was the weakest in more than a year, the latest IPA Bellwether Report showed Wednesday. The survey showed that about 11 percent of companies recording a cut to their marketing budgets, the resulting net balance of +9.9 percent was notably down on the second quarter's +13.1 percent and the lowest reading since the first quarter of 2016. Nonetheless, the increase in marketing budget extended the current survey record period of growth to five years. "What strikes us most from this quarter's report is the extent to which UK companies - and their marketing budgets - are caught up in the wider economic and geo-political uncertainty," Paul Bainsfair, IPA Director General, said. "The vast majority are in a seeming state of paralysis, reflected in the fact that almost 70 percent of UK marketers haven't revised their budgets one way..

    UK Marketing Budget Growth Weakest Since 2016

    UK Marketing Budget Growth Weakest Since 2016 UK companies' marketing budgets increased in the third quarter but the pace of growth was the weakest in more than a year, the latest IPA Bellwether Report showed Wednesday. The survey showed that about 11 percent of companies recording a cut to their marketing budgets, the resulting net balance of +9.9 percent was notably down on the second quarter's +13.1 percent and the lowest reading since the first quarter of 2016. Nonetheless, the increase in marketing budget extended the current survey record period of growth to five years. "What strikes us most from this quarter's report is the extent to which UK companies - and their marketing budgets - are caught up in the wider economic and geo-political uncertainty," Paul Bainsfair, IPA Director General, said. "The vast majority are in a seeming state of paralysis, reflected in the fact that almost 70 percent of UK marketers haven't revised their budgets one way..
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  • European Economics Preview: UK Jobless Rate Data Due Labor market statistics from the UK is due on Wednesday, headlining a light day for the European economic news. At 4.30 am ET, the Office for National Statistics is scheduled to issue UK unemployment data for August. The ILO jobless rate is forecast to remain stable at 4.3 percent in three months to August. At 5.00 am ET, Eurozone construction output figures for August are due. At 8.00 am ET, the Central Statistical Office releases Poland's industrial production and producer prices for September. Output is forecast to climb 6.8 percent on month, following August's 5.9 percent rise. Economists forecast producer price inflation to rise slightly to 3.1 percent in September from 3 percent in August.

    European Economics Preview: UK Jobless Rate Data Due

    European Economics Preview: UK Jobless Rate Data Due Labor market statistics from the UK is due on Wednesday, headlining a light day for the European economic news. At 4.30 am ET, the Office for National Statistics is scheduled to issue UK unemployment data for August. The ILO jobless rate is forecast to remain stable at 4.3 percent in three months to August. At 5.00 am ET, Eurozone construction output figures for August are due. At 8.00 am ET, the Central Statistical Office releases Poland's industrial production and producer prices for September. Output is forecast to climb 6.8 percent on month, following August's 5.9 percent rise. Economists forecast producer price inflation to rise slightly to 3.1 percent in September from 3 percent in August.
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  • South Korea Money Supply Growth Eases Further South Korea's money supply growth eased for the fourth straight month in August, preliminary figures from Bank of Korea showed Wednesday. M2, a broad measure of money supply climbed 4.6 percent year-over-year in August, slower than the 5.1 percent rise in the prior month. On a monthly basis, M2 money supply rose 0.7 percent in August, reversing a 0.2 percent drop in July. The annual growth in liquidity moderated to 6.4 percent in August from 6.7 percent a month ago. Liquidity of financial institutions grew at a slower rate of 6.2 percent yearly in August following a 6.5 percent increase in the preceding month.

    South Korea Money Supply Growth Eases Further

    South Korea Money Supply Growth Eases Further South Korea's money supply growth eased for the fourth straight month in August, preliminary figures from Bank of Korea showed Wednesday. M2, a broad measure of money supply climbed 4.6 percent year-over-year in August, slower than the 5.1 percent rise in the prior month. On a monthly basis, M2 money supply rose 0.7 percent in August, reversing a 0.2 percent drop in July. The annual growth in liquidity moderated to 6.4 percent in August from 6.7 percent a month ago. Liquidity of financial institutions grew at a slower rate of 6.2 percent yearly in August following a 6.5 percent increase in the preceding month.
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  • Gold Prices Climb from 1-Week Low Gold prices rose on Wednesday from a one-week low while the dollar was steady. However, speculation that U.S. President Donald Trump might pick a policy hawk to lead the Federal Reserve added pressure on the yellow metal. Spot gold climbed 0.1 percent to $1,286.10 per ounce. The precious metal notched a one-week low of $1,281.31 in the session earlier. U.S. gold futures for December delivery increased 0.2 percent at $1,288.3 an ounce. The price of the precious metal is seen to climb to $1,369 per ounce by October 2018, delegates to the London Bullion Market Association's annual gathering forecasted. Open interest on the London Metal Exchange's precious metals contracts has exceeded three million ounces of gold, according to the exchange. India's Multi Commodity Exchange recently launched the nation's first gold options contract in New Delhi to correspond with the gold-buying festival of Dhanteras. The dollar index, which mea..

    Prime News: Gold Prices Climb from 1-Week Low

    Gold Prices Climb from 1-Week Low Gold prices rose on Wednesday from a one-week low while the dollar was steady. However, speculation that U.S. President Donald Trump might pick a policy hawk to lead the Federal Reserve added pressure on the yellow metal. Spot gold climbed 0.1 percent to $1,286.10 per ounce. The precious metal notched a one-week low of $1,281.31 in the session earlier. U.S. gold futures for December delivery increased 0.2 percent at $1,288.3 an ounce. The price of the precious metal is seen to climb to $1,369 per ounce by October 2018, delegates to the London Bullion Market Association's annual gathering forecasted. Open interest on the London Metal Exchange's precious metals contracts has exceeded three million ounces of gold, according to the exchange. India's Multi Commodity Exchange recently launched the nation's first gold options contract in New Delhi to correspond with the gold-buying festival of Dhanteras. The dollar index, which mea..
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  • Headlines just coming over the wires 18 Oct It's been eagerly awaited all week and now seemingly we haven't too long to find out. I've the balance of power now held by Winston Peters and his First Party. The final election tally was:

    New Zealand First Party to announce decision on Thursday

    Headlines just coming over the wires 18 Oct It's been eagerly awaited all week and now seemingly we haven't too long to find out. I've the balance of power now held by Winston Peters and his First Party. The final election tally was:
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  • South Korea Jobless Rate Falls In September South Korea's unemployment rate decreased slightly in September, figures from Statistics Korea showed Wednesday. The seasonally adjusted jobless rate edged down to 3.7 percent in September from 3.8 percent in August. In the corresponding month last year, the unemployment rate was 3.9 percent. On an unadjusted basis, the jobless rate dropped to 3.4 percent in September from 3.6 percent in the prior month. The number of unemployed people declined to 0.94 million in September from 1.0 million in the preceding month.

    South Korea Jobless Rate Falls In September

    South Korea Jobless Rate Falls In September South Korea's unemployment rate decreased slightly in September, figures from Statistics Korea showed Wednesday. The seasonally adjusted jobless rate edged down to 3.7 percent in September from 3.8 percent in August. In the corresponding month last year, the unemployment rate was 3.9 percent. On an unadjusted basis, the jobless rate dropped to 3.4 percent in September from 3.6 percent in the prior month. The number of unemployed people declined to 0.94 million in September from 1.0 million in the preceding month.
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  • Carney Confirms Rate Hike Imminent as Inflation Hits Multi-Year High Governor Mark Carney reaffirmed that the Bank of England is close to making its first rate hike move in more than 10 years, as inflation reach 3 percent and another official said that the UK economy is near an inflection point.The head of the BOE and the two newly appointed members of the central bank's rate-setting Monetary Policy Committee indicated that the dissolution of economic slack is their main consideration as they prepare for a November 2 meeting decision during their testimonies to lawmakers. The addresses coincided with the release of a report indicating consumer prices accelerating at its fastest rate since April 2012. Carney stated that since the BOE had used up more spare capacity and due to increasing inflationary pressures in the UK, majority of the members of the governing committee believe that a rate hike in the following month may be fitting. The BOE leader professed that while CPI growth..

    Prime News: Carney Confirms Rate Hike Imminent as Inflation Hits Multi-Year High

    Carney Confirms Rate Hike Imminent as Inflation Hits Multi-Year High Governor Mark Carney reaffirmed that the Bank of England is close to making its first rate hike move in more than 10 years, as inflation reach 3 percent and another official said that the UK economy is near an inflection point.The head of the BOE and the two newly appointed members of the central bank's rate-setting Monetary Policy Committee indicated that the dissolution of economic slack is their main consideration as they prepare for a November 2 meeting decision during their testimonies to lawmakers. The addresses coincided with the release of a report indicating consumer prices accelerating at its fastest rate since April 2012. Carney stated that since the BOE had used up more spare capacity and due to increasing inflationary pressures in the UK, majority of the members of the governing committee believe that a rate hike in the following month may be fitting. The BOE leader professed that while CPI growth..
    Read More