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Crude Oil Price Outlook Volatile as Covid Clashes with Vaccine Hope

Crude Oil Price Outlook Volatile as Covid Clashes with Vaccine Hope

Crude oil rate motion climbed 5.7% this previous week. The ultra-modern increase solidified three consecutive weeks of gains, extending the month-to-date rally to an staggering 18.5%, and propelling the commodity to its easiest shut due to the fact early September. Oil expenditures have commonly benefited from encouraging vaccine effects and corresponding enchancment in market sentiment....

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Gold Price Outlook: XAU/USD Still Primed for Higher Ground

Gold Price Outlook: XAU/USD Still Primed for Higher Ground

Gold expenses fell for a 2nd consecutive week as merchants reassessed their outlook on world markets. Fundamental macro drivers in the world economic system proceed to hastily shift. The yellow steel is down over 4.5% from its month-to-month excessive of 1965.55 set on November 9. Despite the current drop, XAU/USD stays over 20% greater year-to-date....

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Fed’s Mester Says More Fiscal, Not Monetary Support, Is Needed

Fed’s Mester Says More Fiscal, Not Monetary Support, Is Needed

Federal Reserve Bank of Cleveland President Loretta Mester said fiscal policy support, not additional monetary-policy action, is what the U.S. needs most as surging Covid-19 infection rates threaten to smother economic activity. “The virus case increase is very concerning and the fact that we don’t have a fiscal package is very concerning,” Mester said Thursday...

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Pound to Canadian Dollar (GBP/CAD) Exchange Rate Steady as Vaccine News Boosts Oil Prices

Pound to Canadian Dollar (GBP/CAD) Exchange Rate Steady as Vaccine News Boosts Oil Prices

The Pound to Canadian Dollar (GBP/CAD) exchange rate held steady today, with the pairing currently trading around CA$1.736. The Canadian Dollar (CAD) struggled to gain against the Sterling today because of sliding oil prices. As a result, the commodity-linked ‘Loonie’ has suffered a sell-off as the outlook for Canada’s economy – which is majorly reliant...

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Dollar Weakens as Consumers Lose Confidence; Pound Gains on Possible Deal

Dollar Weakens as Consumers Lose Confidence; Pound Gains on Possible Deal

The dollar edged lower in early European trade Wednesday, weighed by signs the surge in coronavirus vases is hitting the U.S. consumer while the country’s political scene remains divided. At 3:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was down 0.2% at 92.245. EUR/USD...

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GBP/EUR Exchange Rate Extends Gains on Stronger-than-Expected UK Inflation

GBP/EUR Exchange Rate Extends Gains on Stronger-than-Expected UK Inflation

The Pound to Euro (GBP/EUR) exchange rate has struck a new one-week high this morning, following the publication of the UK’s latest inflation figures. At the time of writing, the GBP/EUR exchange rate is trading at around €1.1183, slightly up from this morning’s opening rate. Pound (GBP) Firms as UK Inflation Beats Forecasts The Pound...