Crude Prices Settle Higher

Crude Prices Settle Higher

Crude prices posted gains in the U.S. on Tuesday to end higher with a weaker dollar and as investors eye global demand prospects. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February rose 0.21 percent to $52.48 a barrel, while March Brent crude on London’s ICE Futures Exchange gained 0.70 percent to $55.47 a barrel. The U.S. dollar index fell 1.17 percent on Tuesday to […]

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U.S. Dollar’s Slump Continues

U.S. Dollar’s Slump Continues

The U.S. dollar closed the week lower against the G-3 currencies as forex players weighed President-elect Donald Trump’s first press conference on Wednesday since winning the election, and a well-received 10-year Treasury note auction that exacerbated the inverse relationship between demand for the dollar and Treasury yields. The combination of both events on Wednesday drove USD/JPY to its lowest level in a month. The Trump-rally in the dollar was already […]

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UK Trade Deficit Swells in November

UK Trade Deficit Swells in November

Britain’s trade deficit ballooned in the penultimate month of 2016 as a weak pound failed to drive up exports enough to offset rising imports in the month of November, fresh data has shown. The UK’s deficit on trade in goods and services was estimated to have been 4.2 billion pounds ($5.09 billion) in November, a widening of 2.6 billion pounds from October, as the value of imports rose by 3.3 […]

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Snapchat Picks London for Its International Headquarters

Snapchat Picks London for Its International Headquarters

Snapchat, a massaging app run by Snap Inc. that’s planning an initial public offering this year, chose London as the home of its international division, defying concerns about the economic impact of Britain’s withdrawal from the European Union, Reuters reported on Tuesday. The company, which has 150 million daily users globally including 10 million of them in the UK who use the app daily, will book sales from Britain in […]

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Baker Hughes Says International Rig Count Rises by Four

Baker Hughes Says International Rig Count Rises by Four

Baker Hughes said Monday the international rig count, excluding the U.S. and Canada, for December was 929, up by four from the 925 counted in November, and down 166 from 1,095 in December 2015. The average U.S. rig count for December was 634, up by 54 from 580 in November but down by 80 from 714 counted in December 2015. The average Canadian rig count for December was 209, up […]

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