Breaking News

Stability dominates ahead of major events (2/2)

News Date: 7/3/2017 03:56:58

From the economic calendar, we have German factory orders on annually basis during February which is expected to drop sharply, and this is what weakens any chances to rise, and we will also see the Euro zone revised reading of gross domestic product in the fourth quarter, which is expected to grow at 0.4%.

pound fell in early tradings against the US dollar, influenced by a decline BRC index of retail sales in stores during February to 0.4% at the annual basis, while total retail sales record of 0.4%, reflecting the levels of consumer spending, which is an essential factor in GDP .

Pound fell 0.05% against the US dollar is trading at 1.2237 after record low levels at 1.2230.

Gold prices unchanged since the morning trading around the opening price of $ 1225.43 per ounce, backed by the impact of expectations to hike US interest rates, and as investors awaited employment data later this week.

Expectations show that non-farm payrolls on February will rise to 190K jobs, and this is an improvement in economic performance, which supports the future direction of the lifting of the interest rates this month.

Awaited US employment data would impose uncertainty on the financial markets, which in turn will increase the volatility on the yellow metal during trading this week.

Futures for crude oil fell slightly after forecast from r the International Energy Agency that the US shale production will grow next five years.

Crude oil futures for April delivery decreased 0.04% at $ 53.16 a barrel.

The International Energy Agency released on Tuesday confirmed that the US shale production will rise, even if crude oil prices remain around $ 60 a barrel, the report pointed that the demand for crude oil will rise by 2022 supported by emerging economies.

Ongoing concerns from US shale production faced the impact of the OPEC agreement to cut production, and some of the non-members of OPEC to curb global oil oversupply.

 Sponsored by: CloudsIndex.com

Latest news

Oil prices fell today, Wednesday, after the increase in crude inventories, which increases the fears of supply. Therefore, it is expected that US crude production will decline by 600 thousand barrels
07-2020 08 08:20:53

Corona virus infection in the United States of America reached its maximum, reaching two million, 840 thousand and 906 cases, according to the Centers for Disease Control yesterday, after it recorded
07-2020 06 00:36:17

After the long collapse, the American labor market is achieving some relative recovery, as the number of added jobs yesterday reached 4,800 million jobs, which exceeded all expectations, and came as
07-2020 03 00:34:55

Beginning with the latest developments in commodities, the gold futures contracts started this morning with a rise of 0.70%, to be traded at 1784.56 dollars an ounce, after opening at 1771.61 dollar
07-2020 01 03:47:05

Oil prices continued to lose their losses after the recovery in demand decreased, due to the high number of injuries they suffer, and Brent crude fell by the same percentage 2%, which in turn pays to
06-2020 29 05:49:33

More News