Items filtered by date: April 2020

Thursday, 30 April 2020 22:24

Crude Oil Futures End Sharply Higher Again

Crude oil prices rose sharply on Thursday, gaining for a second straight session, reacting to reports that some major producers in the U.S. have reduced output. Traders also appeared to be betting on hopes that a few top producers in the world, including Russia and Saudi Arabia will significantly reduce outputs to bring about some stability in oil prices. Implied U.S. gasoline demand climbed by 10% to 5.9 million barrels per day last week, suggesting the worst might be behind the oil market.
Published in FOREX NEWS
Gold prices settled lower on Thursday, extending recent losses, despite the U.S. Federal Reserve's assurance that it would continue with its liberal monetary policy stance to support the economy which is down due to the ongoing coronavirus pandemic. The Federal Reserve on Wednesday vowed to continue with its aggressive policy stance until it is comfortable that the economy is back on its feet. The Fed's emergency credit facilities are "wide open" and "we can do more of that," Fed Chair Jerome Powell said in a press conference.
Published in FOREX NEWS
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