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Wednesday, July 18, 2018

Forex

Flows, sentiment lift dollar towards one-year highs

© Reuters. FILE PHOTO: Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration By Tommy Wilkes LONDON (Reuters) – The dollar rose towards a one-year high on Wednesday in the wake of bullish comments from U.S. Federal Reserve Chairman Jerome Powell about the strength […]

Economy

Tame UK inflation knocks BoE rate hike expectations

© Reuters. FILE PHOTO: Shoppers enjoy last-minute Christmas shopping in the week before Christmas on Oxford Street in London By Andy Bruce and Kate Holton LONDON (Reuters) – British inflation unexpectedly held steady last month, denting market confidence about a Bank of England interest rate hike next month and sending sterling to a 10-month low […]

U.S. pays Trump's Scotland golf resort $77,000 ahead of visit

© Reuters. U.S. President Donald Trump gestures as he walks on the course of his golf resort, in Turnberry By Andy Sullivan WASHINGTON (Reuters) – The U.S. government paid more than $ 77,000 to President Trump’s Scottish golf resort ahead of his stay there last weekend, according to federal spending records, indicating that Trump’s official […]

What Turns A Trade Skirmish Into A Trade War

Investing.com – Economists say the Trump administration’s initial $ 50 billion round of tariffs against China was structured to have minimal impact at home. But if the U.S. imposes additional tariffs and China retaliates, then some $ 450 billion in goods will be affected. And that, UBS says, turns a “trade skirmish into a trade […]

Commodities & Futures

Oil prices fall on U.S. stock rise, higher supply

© Reuters. Oil tanker unloads crude oil at a crude oil terminal in Zhoushan By Christopher Johnson LONDON (Reuters) – Oil benchmark hit a three-month low on Wednesday after a rise in inventories highlighted increasing global supply and concerns over weak demand. Brent fell 93 cents to a low of $ 71.23 a barrel, its […]

Not dead yet: Home of Brent crude gets new lease of life

© Reuters. FILE PHOTO: File photo of a section of the BP Eastern Trough Area Project oil platform in the North Sea By Ron Bousso and Shadia Nasralla LONDON (Reuters) – Oil giant BP’s Eastern Trough Area Project off the coast of Scotland wasn’t supposed to be viable beyond 2018. But government and industry working […]