Oil Prices Jump One Percent

Oil prices strengthened more than one percent on Monday, recovering from last week’s ten-month lows. Brent crude, the international benchmark, was up 1.1 percent at $46.04 a barrel after closing 0.7 percent higher on Friday. West Texas Intermediate (WTI) futures were up 44 cents or 1 percent at $43.45 per barrel. Even tough oil prices…

Continue Reading

Pound Touches 7-Week Low Amid UK Election Turmoil

The pound has fallen sharply after the general election result showed the ruling Conservative party has failed to reach a majority in the British Parliament. The currency dropped as much as 2 percent against the US dollar to 1.26744 and a similar amount against the euro to 1.13. Brexit talks The election result left investors…

Continue Reading

Dollar Weakens To Seven-Month Low Amid Geopolitical Tensions

The dollar sank to its weakest level since mid-April against the yen on Tuesday, after escalating tensions in the Middle East and the coming testimony of the former FBI director, British elections and a European Central Bank meeting shook the currency market. The dollar fell 0.9 percent to 109.28 yen, while euro dipped as low…

Continue Reading

Pound Touches Six-Week Low Amid Tight UK Election Risk

The British pound has come under pressure after the release of a poll which suggested that Theresa May’s Conservative Party may fall short of majority in next week’s election. The U.K. pound declined 0.5 percent to $1.28, after earlier touching $1.2788. This is still above Friday’s low of $1.2776. Hung parliament YouGov, the polling group…

Continue Reading

Gold Hits 5-Month High Amid Geopolitical Tensions

Gold continued its rally as the dollar slipped with investors seeking safe-haven amid rising geopolitical tensions over North Korea. Spot gold climbed as much as 0.8 percent to $1,295.56 an ounce on Monday, the highest level since November 9. Last week, the metal rose 2.5 percent in its biggest weekly gain since June. Drivers of…

Continue Reading

US Dollar Slumps After Trump Comments

The US dollar suffered further losses against other major currencies on Thursday, after President Trump said the dollar is getting too strong. The dollar index, which measures the US currency against a basket of six other major currencies, fell to 100.01 in Asian trade early Thursday. Lowest level since November The US dollar dropped to…

Continue Reading

Gold Touches One-Month High After Health-Care Bill Failure

Gold prices hit a four-week high in early U.S. trading Monday, after U.S. President Donald Trump’s failure to push through a healthcare reform package on Friday. Gold had already risen sharply from its March 15 low after a policy statement from the Federal Reserve, which decreased expectations for near-term increases in U.S. interest rates. Spot…

Continue Reading

Pound Touches Lowest Level Since January

Britain’s pound has taken a sharp drop in early Tuesday trading, touching an eight-week low against the dollar, after U.K. lawmakers set the stage for Brexit talks to begin. Today the pound stood at $1.2110 against the U.S. dollar and below €1.14 against the euro. It wiped out all yesterday’s gains, made on the dollar’s…

Continue Reading

Dollar Hits 2-Week High After Trump-Abe Meeting

The dollar rose to a 2-week high against a basket of currencies on Monday, after the meeting between U.S. president Donald Trump and Japanese Prime Minister Shinzo Abe. A senior Japanese government spokesman unveiled that Abe and Trump did not discuss currency issues and that Trump did not request a bilateral trade deal. The dollar…

Continue Reading

Dollar Bounces Back After Recording Worst Start To Year

The U.S. dollar regained some ground on Wednesday, retracing some of its declines on Tuesday after Germany and Japan rejected accusations from the Trump’s administration. US President and his trade adviser accused Germany, Japan and China of exploiting currencies to gain a trade advantage over the US. The US Dollar Index, which measures the greenback…

Continue Reading