FXStreet News Feed

live forex news feed

All news concerning the currency exchange market Forex
  1. Crude oil prices edged higher on Friday, amid hopes the trade talks between U.S. and China next week will help diffuse trade tensions and reduce fears about any slowdown in fuel demand.

    According to reports, the U.S.-China trade talks in Washington would take place on August 21 and 22, just before the next round of levies targeting $16 billion worth of goods on both sides kick in on August 23.

    Crude oil futures for September ended up $0.45, or 0.7%, at $65.91 a barrel. Crude oil futures ended up $0.45, or 0.7%, at $65.46 a barrel on Thursday.

    Still, with prices declining in the first three sessions of the week amid concerns about rising U.S. crude stockpiles and worries about outlook for fuel demand, oil futures shed 2.5% in the week.

    Besides the U.S.-China trade dispute, the Turkish lira's plunge and fears of a contagion caused jitters in markets across the globe and dragged down emerging market currencies.

    On Wednesday, data released by the Energy Information Administration showed U.S. crude oil inventories rose by 6.8 million barrels in the week ended August 10, as against expectations for a drop of about 2.4 million barrels. Following the jump, total U.S. crude oil inventories stood at 414.2 million barrels as of last week.

    Recent Chinese import data showed a slowdown in oil demand. Demand from India too grew slower than expected.

    Meanwhile, a report released by Baker Hughes today revealed that the rig count in the U.S. remained unchanged from previous week's figure of 869.


    The material has been provided by InstaForex Company - www.instaforex.com
  2. After seeing modest strength for much of the session, treasuries pulled back near the unchanged line going into the close of trading on Friday.

    Bond prices gave back ground late in the session before ending the day roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 2.873 percent.

    The late-day pullback by treasuries came after a report from the Wall Street Journal said Chinese and U.S. negotiators are drawing up a road map for talks to try to end their trade impasse.

    Citing officials in both nations, the Journal indicated the plan would culminate in planned meetings between President Donald Trump and Chinese leader Xi Jinping at multilateral summits in November.

    The report comes following yesterday's news that China accepted an invitation from the U.S. for a new round of trade talks to be held later this month.

    China's Ministry of Commerce said that a Chinese delegation led by Vice Commerce Minister Wang Shouwen will travel to the U.S. for trade talks to be held with U.S. Under Secretary of Treasury for International Affairs David Malpass.

    The Journal said the U.S.-China trade talks in Washington would take place on August 21st and 22nd, just before the next round of tariffs targeting $16 billion worth of goods on both sides kick in on August 23rd.

    In U.S. economic news, a report from the University of Michigan unexpectedly showed a notable deterioration in U.S. consumer sentiment in the month of August.

    The preliminary report said the consumer sentiment index dropped to 95.3 in August after edging down to 97.9 in July. Economists had expected the index to inch up to 98.0.

    Surveys of Consumers chief economist Richard Curtin said the decrease in consumer sentiment was concentrated among households in the bottom third of the income distribution amid less favorable perceptions of market prices.

    "Overall, the data indicate that consumers have little tolerance for overshooting inflation targets, and to the benefit of the Fed, interest rates now play a more decisive role in purchase decisions," Curtin said.

    Meanwhile, a separate report from the Conference Board showed a bigger than expected increase by its index of leading U.S. economic indicators in the month of July.

    The Conference Board said its leading economic index climbed by 0.6 percent in July following a 0.5 percent increase in June. Economists had expected the index to rise by 0.4 percent.

    "The U.S. LEI increased in July, suggesting the US economy will continue expanding at a solid pace for the remainder of this year," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at the Conference Board.

    Following the slew of U.S. economic data released over the past week, the economic calendar for next week is relatively quiet.

    Reports on new and existing home sales and durable goods orders are still due to be released along with the minutes of the latest Federal Reserve meeting.

    The Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, is also likely to attract attention later in the week.


    The material has been provided by InstaForex Company - www.instaforex.com
  3. The dollar got off to a positive start Friday, but has turned lower against its major rivals in the afternoon. The release of the weaker than expected consumer sentiment has had a negative impact on investor sentiment ahead of the weekend.

    Partly reflecting concerns about inflation, the University of Michigan released a report on Friday unexpectedly showing a notable deterioration in U.S. consumer sentiment in the month of August. The preliminary report said the consumer sentiment index dropped to 95.3 in August after edging down to 97.9 in July. Economists had expected the index to inch up to 98.0.

    A report released by the Conference Board on Friday showed a bigger than expected increase by its index of leading U.S. economic indicators in the month of July. The Conference Board said its leading economic index climbed by 0.6 percent in July following a 0.5 percent increase in June. Economists had expected the index to rise by 0.4 percent.

    The dollar has dropped to a 1-week low of $1.1445 against the Euro Friday, from an early high of $1.1366.

    Eurozone inflation accelerated for a third straight month in July, as initially estimated, to its highest level since late 2012, final data from Eurostat showed Friday. The harmonized index of consumer prices rose 2.1 percent year-on-year in July, after climbing 2 percent in June. The rate came in line with the estimate published on July 31.

    The euro area current account surplus remained unchanged in June, data from the European Central Bank showed Friday. The current account surplus totaled a seasonally adjusted EUR 24 billion in June, the same as seen in May.

    The buck has slipped to around $1.2750 against the pound sterling Friday afternoon, from an early high of $1.2697.

    The greenback reached an early high of Y111.052 against the Japanese Yen Friday, but has since pulled back to around Y110.600.


    The material has been provided by InstaForex Company - www.instaforex.com
  4. Gold prices moved in a very tight range on Friday, as traders, looking ahead to next week's trade talks between the U.S. and China, mostly stayed wary of building up positions.

    Despite a marginal gain today, gold posted its sixth consecutive weekly decline as the greenback hovered around 14-month highs for most part of the week.

    With the Fed almost certain to hike interest rates twice this year, one in September and the other after the subsequent policy meeting, the dollar has been staying firm.

    Gold futures for December ended at $1,184.20, gaining $0.20, or 0.017% for the session. Gold lost 2.9% in the week, the largest weekly drop in nearly 15 months.

    On Thursday, gold futures for December ended down $1.00, at $1,184, recovering from a low of $1,167.40. September gold futures tumbled to a 20-month low of $1,160.10 yesterday before regaining most of the lost ground.

    Silver futures for September declined $0.082 to $14.631 an ounce, while Copper futures ended up $0.0125 at $2.629 per pound.

    The dollar index was down 0.30 points or 0.31%, at 96.18.

    The lira tumbled against the dollar as worries about U.S.-Turkey tensions rose after Turkey's trade minister, Ruhsar Pekcan, said her government would respond to any new trade duties.

    Meanwhile, traders awaited the next developments in the U.S-China trade battle. According to reports, U.S.-China trade talks in Washington would take place on August 21 and 22, just before the next round of levies targeting $16 billion worth of goods on both sides kick in on August 23.

    In U.S. economic news, a report from the University of Michigan unexpectedly showed a notable deterioration in U.S. consumer sentiment in the month of August. The report said consumer sentiment index dropped to 95.3 in August after edging down to 97.9 in July. Economists had expected the index to inch up to 98.0.

    Meanwhile, a separate report from the Conference Board said its leading economic index climbed by 0.6% in July following a 0.5% increase in June. Economists had expected the index to rise by 0.4%.


    The material has been provided by InstaForex Company - www.instaforex.com
  5. A report released by the Conference Board on Friday showed a bigger than expected increase by its index of leading U.S. economic indicators in the month of July.

    The Conference Board said its leading economic index climbed by 0.6 percent in July following a 0.5 percent increase in June. Economists had expected the index to rise by 0.4 percent.

    "The U.S. LEI increased in July, suggesting the US economy will continue expanding at a solid pace for the remainder of this year," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at the Conference Board.

    He added, "The strengths among the components of the leading index were very widespread, with unemployment claims, the financial components, and the ISM New Orders Index making the largest positive contributions."

    The report said the coincident economic index edged up by 0.2 percent in July after rising by 0.3 percent in June, while the lagging economic index dipped by 0.2 percent after ticking up by 0.2 percent in the previous month.


    The material has been provided by InstaForex Company - www.instaforex.com