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POPULAR NEWS
Gold settles with a gain for the session and shorter week

Gold futures climbed on Thursday, also posting a gain for the holiday-shortened week, as concerns over the increase in COVID-19 cases in part of the world provided safe-haven support for the metal. Some of that support lacked in the U.S., where data showed better-than-expected jobs growth in June. "The employment numbers are spectacular but an 11% unemployment rate is still elevated," said Jeff Wright, executive vice president of GoldMining Inc. "COVID cases are back on rise and numerous...

Oil futures end higher, with U.S. prices at their highest since March

Oil futures settled higher on Thursday, buoyed by a hefty decline in last week's U.S. crude supplies and better-than-expected domestic jobs growth in June. August West Texas Intermediate oil rose 83 cents, or 2.1%, to settle at $40.65 a barrel on the New York Mercantile Exchange. That was the highest finish for a front-month contract since March 6, according to FactSet data. There will be no regular trading for Nymex oil futures Friday because of the Independence Day holiday. Prices were up...

Gold Heads for Weekly Gain Amid Virus Woes, Jobs Data

Gold headed for a fourth weekly gain as concerns over the resurgence of coronavirus cases countered better-than-expected monthly U.S. jobs data. Texas ordered residents to wear masks, reversing course as it reported its second-most daily infections of the outbreak, while Florida™s largest county, Miami-Dade, will impose a curfew. The novel coronavirus is showing some signs of mutating in a way that may make it easier for the pathogen to spread, according to Anthony...

Oil Set for Weekly Gain With Economic Optimism Outweighing Virus

Oil slipped Friday but remained on track for a weekly gain as aggressive supply cuts and better-than-expected U.S. economic data overshadowed a surge in coronavirus cases in the world™s largest economy. Futures in New York fell toward $40 a barrel in Asian trading, but are still up almost 5% for the week. Crude rose along with broader markets on Thursday as data showed a rebound in the U.S. jobs market accelerated in June. That came after American crude stockpiles fell by the most...

Gold Prices Edge Higher as Market Awaits Labor-Market Update

Gold futures inched higher Thursday ahead of employment data in the U.S. that could influence trading in the precious commodity, a day after hope for a vaccine and a rally in stocks eroded appetite for the haven metal. Economists polled by MarketWatch estimate that 3.7 million jobs were created in June, with some estimates ranging as high as 8 million. Meanwhile, a weekly report on individuals seeking unemployment insurance weekly is estimated to show that 1.4 million people sought such...

ECB Leaves Benchmark Interest Rate Unchanged at 0% as Expected
Thursday, 25 July 2019 19:03 WIB | FISCAL & MONETARY |Bank Sentral Eropa ECB

At its monetary policy meeting held today, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.40%, respectively. Attention now turns to ECB President Mario Draghi's press conference at 12:30 GMT.

With the initial market reaction, the shared currency gathered strength against its peers and was seen trading at 1.1155 against the USD, rising 0.12% on the day. Below are some key takeaways, via Reuters, from the ECB's policy statement.

"ECB expects interest rates to remain at their present or lower levels at least through the first half of 2020, and in any case for as long as necessary to ensure continued sustained convergence of inflation to its aim over the medium term."

"ECB intends to continue reinvesting, in full, principal payments from maturing securities purchased under app for an extended period of time past date when it starts raising interest rates, and in any case for as long as necessary to maintain favourable liquidity conditions and an ample degree of monetary accommodation."

"Sees the need for a highly accommodative stance of monetary policy for a prolonged period of time, as inflation rates, both realised and projected, have been persistently below levels that are in line with its aim."

"Stands ready to adjust all of its instruments, as appropriate, to ensure that inflation moves towards its aim in a sustained manner."

"If medium-term inflation outlook continues to fall short of its aim, ECB is determined to act, in line with its commitment to symmetry in inflation aim."

"In this context, ECB has tasked relevant Eurosystem committees with examining options, including ways to reinforce its forward guidance on policy rates, mitigating measures, such as design of a tiered system for reserve remuneration, and options for size and composition of potential new net asset purchases."

"President of ECB will comment on considerations underlying these decisions at a press conference starting at 14:30 CET today."

Source : FX Street

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POPULAR NEWS
Gold settles with a gain for the session and shorter week

Gold futures climbed on Thursday, also posting a gain for the holiday-shortened week, as concerns over the increase in COVID-19 cases in part of the world provided safe-haven support for the metal. Some of that support lacked in the U.S., where data showed better-than-expected jobs growth in June. "The employment numbers are spectacular but an 11% unemployment rate is still elevated," said Jeff Wright, executive vice president of GoldMining Inc. "COVID cases are back on rise and numerous...

Oil futures end higher, with U.S. prices at their highest since March

Oil futures settled higher on Thursday, buoyed by a hefty decline in last week's U.S. crude supplies and better-than-expected domestic jobs growth in June. August West Texas Intermediate oil rose 83 cents, or 2.1%, to settle at $40.65 a barrel on the New York Mercantile Exchange. That was the highest finish for a front-month contract since March 6, according to FactSet data. There will be no regular trading for Nymex oil futures Friday because of the Independence Day holiday. Prices were up...

Gold Heads for Weekly Gain Amid Virus Woes, Jobs Data

Gold headed for a fourth weekly gain as concerns over the resurgence of coronavirus cases countered better-than-expected monthly U.S. jobs data. Texas ordered residents to wear masks, reversing course as it reported its second-most daily infections of the outbreak, while Florida™s largest county, Miami-Dade, will impose a curfew. The novel coronavirus is showing some signs of mutating in a way that may make it easier for the pathogen to spread, according to Anthony...

Oil Set for Weekly Gain With Economic Optimism Outweighing Virus

Oil slipped Friday but remained on track for a weekly gain as aggressive supply cuts and better-than-expected U.S. economic data overshadowed a surge in coronavirus cases in the world™s largest economy. Futures in New York fell toward $40 a barrel in Asian trading, but are still up almost 5% for the week. Crude rose along with broader markets on Thursday as data showed a rebound in the U.S. jobs market accelerated in June. That came after American crude stockpiles fell by the most...

Gold Prices Edge Higher as Market Awaits Labor-Market Update

Gold futures inched higher Thursday ahead of employment data in the U.S. that could influence trading in the precious commodity, a day after hope for a vaccine and a rally in stocks eroded appetite for the haven metal. Economists polled by MarketWatch estimate that 3.7 million jobs were created in June, with some estimates ranging as high as 8 million. Meanwhile, a weekly report on individuals seeking unemployment insurance weekly is estimated to show that 1.4 million people sought such...

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