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Oil Ends Flat Flat, Loses Over 6% In The Week

Crude oil futures failed to hold early gains and ended flat on Friday, as worries about excess supply globally and weak demand outlook due to trade disputes weighed on the commodity. Oil prices edged higher earlier in the session amid speculation that the OPEC members will agree to a supply cut at their forthcoming meeting…

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RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its monetary policy meeting on November 6, highlighting a light day for Asia-Pacific economic activity. At the meeting, the RBA kept its benchmark interest rate on hold at a record low of 1.50 percent for the 26th consecutive meeting. The interest rate has…

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Oil Futures Settle Modestly Higher

Crude oil prices moved higher on Monday with traders speculating on a reduction in output towards the end of this year. Last week, Saudi Arabia had expressed the need for oil producers to cut output by 1 million barrels a day to reduce oil supply in 2019 due to a likely drop in demand for…

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Treasuries Extend Uptrend Amid Sell-Off On Wall Street

Treasuries moved modestly higher over the course of the trading day on Monday, extending the upward trend seen over the past few sessions. Bond prices initially showed a lack of direction before climbing a little more firmly into positive territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its…

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U.S. Homebuilder Confidence Pulls Back Sharply In November

Reflecting growing affordability concerns, the National Association of Home Builders released a report on Monday showing a sharp drop in U.S. homebuilder confidence in the month of November. The report said the NAHB/Wells Fargo Housing Market Index plunged to 60 in November after inching up by one point to 68 in October. Economists had expected…

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Dollar Pulling Back On Weak Housing Data

The dollar is losing ground against its major rivals Monday afternoon. Traders were disappointed by the release of the weaker than expected homebuilder confidence report this morning. Reflecting growing affordability concerns, the National Association of Home Builders released a report on Monday showing a sharp drop in U.S. homebuilder confidence in the month of November.…

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Gold Futures Extend Gains To 4th Straight Session

Gold prices edged higher for a fourth successive session on Monday as the dollar weakened against major currencies amid concerns about global economic growth. The dollar eased on Federal Reserve Vice Chairman Richard Clarida’s comments that the Fed is getting closer to a neutral level of interest rates and that the bank should be data-dependent…