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Top 5 Things That Moved Markets This Past Week

2018-02-16 21:59 GMT

Investing.com – Top 5 things that rocked U.S. markets this week.

1. US Equity Markets Make Comeback as Volatility Retreats

The violent upswing in volatility that sent global markets tumbling last week abated, paving the way for US stocks to recover some of their losses.

Volatility as measured by the so-called fear index VIX fell below the 20 after rising to levels not seen since 2015 a week ago.

The recovery was made all the more the impressive as it came amid improving inflation, which Morgan Stanley said was one of the reasons that stocks had sold off last week.

Morgan Stanley said that investors were not worried by macro fundaments – which remains stronger for longer – but rather “the perceived rise in inflationary pressures and the accompanying rise in interest rates.”

Also supporting equities was a rise in shares of steel manufacturers after U.S. Commerce Department Friday recommended a 24% tariff on steel imports from all countries, and a 53% tariff on imports from 12 countries that constitute the majority of U.S. steel imports.

The Commerce Department also recommended a 7.7% tariff on all aluminium exports, or a 23.6% tariff on all products from China, Hong Kong, Russia, Venezuela and Vietnam.

The S&P 500 notched its best week since 2013 as it ended the week at 2,732.22.

2. WTI Crude Snaps Two Week Losing Streak

Crude oil prices shrugged off a week of mostly bearish reports, snapping a two-week losing streak.

Both OPEC and the International Energy Agency (IEA) claimed earlier this week that non-OPEC output, led by the US, was set to surge in the months ahead and could weighed on major oil producers’ efforts to restore rebalancing in the market.

Offsetting that somewhat, was weekly crude supply totals from the Energy Information Administration showing U.S. crude supplies rose less than expected. A slowdown in refinery activity as maintenance season gets underway, however, could see supply totals build as demand for crude falls.

On Friday U.S. crude futures rose 34 cents to settle at $61.68 a barrel.

3. Euro, Yen Pressured Vulnerable Dollar

The dollar ended Friday nursing heavy weekly losses pressured by sterling, euro and yen. Weakness in the dollar was somewhat surprising given a raft of upbeat economic data reported this week including a solid inflation report, lifting Fed rate hike expectations.

Some pointed to investor jitters concerning the U.S. deficit, which is forecast to climb near $1 trillion in 2019 following the announcement of infrastructure spending and large corporate tax cuts.

Others suggested, however, that diverging global monetary policy was supporting demand for euro and yen assets limiting advances in the greenback.

“The dollar sell off Wednesday in spite of higher Fed tightening probability reinforces our view that monetary policy divergence is raising the attractiveness of euro and yen assets to international investors,” Mizuho Bank said.

4. Gold Prices Posted Weekly Gain For First Time in 3 Weeks

A falling dollar helped gold prices avoid a third straight week of losses. The yellow metal traded within a roughly $50 price range this week, recovering from lows of about $1,316 an ounce to end the week at $1,349.70.

The bullish week for gold comes against the backdrop of falling demand as CFTC COT data showed money managers cut their long bets on gold for the third straight week.

5. Cryptos Rebound as Bitcoin Meets $10,000 Again, Litecoin Steals the Show

A report highlighting South Korea’s plan to pivot toward more ‘friendly’ approaches to regulate the crypto-industry rather than issue an outright ban appeared to be just what the crypto-doctor ordered, paving the way for fresh inflows into the industry.

The total cryptocurrency market cap rose to about $480 billion, at the time of writing, from $420 billion a week ago.

Rising inflows and limited outflows characterised earlier rallies in cryptocurrencies, so it was somewhat unsurprising to see bitcoin rise more than 16% over the past seven days.

Yet, Litecoin garnered all the attention after surging more than 40% over the past seven days. The rally came amid Litecoin’s announcement that it would launch a LitePay payments processor. Litecoin reportedly said that merchants in 41 countries will have access to the LitePay merchant payment processing.

Others, however, cited an upcoming split or “fork” in Litecoin, creating Litecoin Cash, as the more plausible reason. Investors piled into Litecoin on expectations of receiving free Litecoin Cash, which will be distributed, at the time of fork, to any user "hodling" Litecoin.

Peru stocks lower at close of trade; S&P Lima General down 0.65%

2018-02-16 21:35 GMT

Investing.com – Peru stocks were lower after the close on Friday, as losses in the Banking&Financials, Non-Metal Minerals and Mining sectors led shares lower.

At the close in Lima, the S&P Lima General lost 0.65%.

The best performers of the session on the S&P Lima General were Milpo (LM:MIL), which rose 6.04% or 0.310 points to trade at 5.440 at the close. Meanwhile, Cerro Verde (LM:CVE) added 2.04% or 0.600 points to end at 30.000 and Relapasa (LM:REL) was up 1.59% or 0.005 points to 0.320 in late trade.

The worst performers of the session were Minsur (LM:MINi), which fell 3.85% or 0.070 points to trade at 1.750 at the close. PPX Mining Corp (LM:PPX) unchanged 3.17% or 0.00 points to end at 0.06 and Buenaventura (LM:BVN) was down 2.80% or 0.450 points to 15.600.

Rising stocks outnumbered declining ones on the Lima Stock Exchange by 14 to 10 and 15 ended unchanged.

Crude oil for March delivery was up 0.54% or 0.33 to $61.67 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 0.95% or 0.61 to hit $64.94 a barrel, while the April Gold Futures contract fell 0.38% or 5.10 to trade at $1350.20 a troy ounce.

USD/PEN was up 0.17% to 3.2505, while EUR/PEN fell 0.48% to 4.0314.

The US Dollar Index Futures was up 0.62% at 89.02.

U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.08%

2018-02-16 21:25 GMT

Investing.com – U.S. stocks were mixed after the close on Friday, as gains in the Utilities, Healthcare and Telecoms sectors led shares higher while losses in the Technology, Oil&Gas and Consumer Goods sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average rose 0.08%, while the S&P 500 index climbed 0.04%, and the NASDAQ Composite index declined 0.23%.

The best performers of the session on the Dow Jones Industrial Average were Pfizer Inc (NYSE:PFE), which rose 1.54% or 0.55 points to trade at 36.26 at the close. Meanwhile, Wal-Mart Stores Inc (NYSE:WMT) added 1.50% or 1.55 points to end at 104.78 and UnitedHealth Group Incorporated (NYSE:UNH) was up 1.48% or 3.35 points to 229.37 in late trade.

The worst performers of the session were Caterpillar Inc (NYSE:CAT), which fell 2.31% or 3.69 points to trade at 156.29 at the close. McDonald’s Corporation (NYSE:MCD) declined 1.86% or 2.99 points to end at 157.79 and Intel Corporation (NASDAQ:INTC) was down 0.78% or 0.36 points to 45.56.

The top performers on the S&P 500 were Chipotle Mexican Grill Inc (NYSE:CMG) which rose 6.62% to 305.63, Nucor Corporation (NYSE:NUE) which was up 4.51% to settle at 68.54 and Kimco Realty Corporation (NYSE:KIM) which gained 3.58% to close at 15.20.

The worst performers were VF Corporation (NYSE:VFC) which was down 11.08% to 74.64 in late trade, Under Armour Inc A (NYSE:UAA) which lost 5.70% to settle at 17.36 and Vulcan Materials Company (NYSE:VMC) which was down 5.17% to 126.57 at the close.

The top performers on the NASDAQ Composite were WPCS International Inc (NASDAQ:DCAR) which rose 23.58% to 2.830, Synchronoss Technologies Inc (NASDAQ:SNCR) which was up 20.99% to settle at 9.05 and ReTo Eco-Solutions Inc (NASDAQ:RETO) which gained 18.84% to close at 8.580.

The worst performers were Apricus Biosciences Inc (NASDAQ:APRI) which was down 67.40% to 1.040 in late trade, Riot Blockchain Inc (NASDAQ:RIOT) which lost 33.37% to settle at 11.4600 and Nano Dimension Ltd (NASDAQ:NNDM) which was down 31.55% to 2.30 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1783 to 1304 and 129 ended unchanged; on the Nasdaq Stock Exchange, 1384 rose and 1139 declined, while 115 ended unchanged.

Shares in Nano Dimension Ltd (NASDAQ:NNDM) fell to all time lows; down 31.55% or 1.06 to 2.30.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 1.25% to 19.37.

Gold Futures for April delivery was down 0.32% or 4.40 to $1350.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.46% or 0.28 to hit $61.62 a barrel, while the April Brent oil contract rose 0.82% or 0.53 to trade at $64.86 a barrel.

EUR/USD was down 0.75% to 1.2410, while USD/JPY rose 0.10% to 106.23.

The US Dollar Index Futures was up 0.63% at 89.03.

Brazil stocks higher at close of trade; Bovespa up 0.28%

2018-02-16 20:30 GMT

Investing.com – Brazil stocks were higher after the close on Friday, as gains in the Basic Materials, Financials and Industrials sectors led shares higher.

At the close in Sao Paulo, the Bovespa added 0.28%.

The best performers of the session on the Bovespa were Fibria Celulose SA (SA:FIBR3), which rose 6.60% or 3.55 points to trade at 57.30 at the close. Meanwhile, Gerdau SA Pref (SA:GGBR4) added 6.20% or 0.93 points to end at 15.93 and Metalurgica Gerdau SA (SA:GOAU4) was up 5.68% or 0.40 points to 7.44 in late trade.

The worst performers of the session were Braskem SA (SA:BRKM5), which fell 3.74% or 1.71 points to trade at 44.02 at the close. Itau Unibanco Banco Holding SA (SA:ITUB4) declined 3.49% or 1.84 points to end at 50.83 and BRF SA (SA:BRFS3) was down 2.62% or 0.80 points to 29.70.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 243 to 184 and 42 ended unchanged.

Shares in Fibria Celulose SA (SA:FIBR3) rose to all time highs; up 6.60% or 3.55 to 57.30. Shares in Gerdau SA Pref (SA:GGBR4) rose to 3-years highs; gaining 6.20% or 0.93 to 15.93. Shares in Metalurgica Gerdau SA (SA:GOAU4) rose to 52-week highs; rising 5.68% or 0.40 to 7.44. Shares in BRF SA (SA:BRFS3) fell to 5-year lows; down 2.62% or 0.80 to 29.70.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 1.18% to 29.97.

Gold Futures for April delivery was down 0.35% or 4.70 to $1350.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.46% or 0.28 to hit $61.62 a barrel, while the March US coffee C contract fell 3.22% or 3.92 to trade at $117.80 .

USD/BRL was up 0.10% to 3.2311, while EUR/BRL fell 0.65% to 4.0109.

The US Dollar Index Futures was up 0.63% at 89.03.

Colombia stocks lower at close of trade; COLCAP down 0.29%

2018-02-16 20:20 GMT

Investing.com – Colombia stocks were lower after the close on Friday, as losses in the Financials, Industrials and Public Services sectors led shares lower.

At the close in Colombia, the COLCAP lost 0.29%.

The best performers of the session on the COLCAP were Corporacion Financiera Colombiana SA (CN:CFV), which rose 1.75% or 440.0 points to trade at 25560.0 at the close. Meanwhile, Pfgrupsura (CN:SIS_p) added 1.33% or 480.0 points to end at 36680.0 and Grupo de Inversiones Suramericana SA (CN:SIS) was up 1.15% or 440.0 points to 38800.0 in late trade.

The worst performers of the session were Grupoaval (CN:GAA), which fell 3.05% or 40.0 points to trade at 1270.0 at the close. Almacenes Exito SA (CN:IMI) declined 2.30% or 400.0 points to end at 17020.0 and Celsia SA (CN:CEL) was down 1.37% or 65.0 points to 4670.0.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 1 to 0.

US coffee C for March delivery was down 3.22% or 3.92 to $117.80 . Elsewhere in commodities trading, US cocoa for delivery in May fell 0.89% or 19.00 to hit $2115.50 , while the April Gold Futures contract fell 0.34% or 4.60 to trade at $1350.70 a troy ounce.

USD/COP was down 0.05% to 2853.47, while BRL/COP fell 0.15% to 883.12.

The US Dollar Index Futures was up 0.63% at 89.03.

Gold Prices Head Lower as Sentiment on Dollar Turns Positive

2018-02-16 19:09 GMT

Investing.com – Gold prices fell Friday but were set to clinch their biggest weekly win in nearly two years despite a rebound in the greenback from three-year lows.

Gold futures for April delivery on the Comex division of the New York Mercantile Exchange fell by $5.70, or 0.42%, to $1,349.70 a troy ounce.

In the wake of a rebound in the dollar, gold prices fell but remained well supported as traders continued to mull over the impact of rising inflation on the precious metal.

Dollar-denominated assets such as gold are sensitive to moves in the dollar – A fall in the dollar makes gold cheaper for holders of foreign currency and thus, increases demand for the precious metal.

Some say that rising inflation, supporting expectations for further Federal Reserve rate hikes will weighed on the precious metal as it gets dumped for interest-bearing assets like bonds. Others, however, suggested that gold provides a hedge against inflation, so tends to garner attention in an inflationary environment.

Also supporting gold prices was an uptick in Far East demand as the Chinese New Year got underway which usually ushers in gift buying in the form of gold jewellery, which accounts for roughly 50% of total gold demand.

“Based on the local premiums to international gold prices, it appears that demand ahead of the Chinese New Year has been relatively strong,” Capital Economics analyst Simona Gambarini said earlier this week in an email to clients.

In other precious metal trade, silver futures fell 1.23% to $16.59 a troy ounce, while platinum futures gained 0.35% to $1,002.60 an ounce.

Copper rose 0.31% to $3.25, while natural gas fell 0.62% to $2.57. The fall in natural gas comes despite EIA data showing storage levels fell last week confounding expectations for a rise.

Portugal stocks higher at close of trade; PSI 20 up 0.76%

2018-02-16 17:45 GMT

Investing.com – Portugal stocks were higher after the close on Friday, as gains in the Industrials, Utilities and Telecoms sectors led shares higher.

At the close in Lisbon, the PSI 20 gained 0.76%.

The best performers of the session on the PSI 20 were Mota Engil (LS:MOTA), which rose 4.82% or 0.1700 points to trade at 3.7000 at the close. Meanwhile, Galp Energia Nom (LS:GALP) added 2.04% or 0.2950 points to end at 14.7800 and CTT Correios de Portugal SA (LS:CTT) was up 1.98% or 0.0660 points to 3.3980 in late trade.

The worst performers of the session were Banco Comercial Portugues (LS:BCP), which fell 1.32% or 0.0041 points to trade at 0.3054 at the close. Novabase SGPS (LS:NBA) declined 0.33% or 0.010 points to end at 2.980 and Semapa (LS:SEM) was 0.00% or 0.0000 points to 18.0000.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 26 to 6 and 7 ended unchanged.

Brent oil for April delivery was up 1.20% or 0.77 to $65.10 a barrel. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.93% or 0.57 to hit $61.91 a barrel, while the April Gold Futures contract rose 0.04% or 0.50 to trade at $1355.80 a troy ounce.

EUR/USD was down 0.49% to 1.2443, while EUR/GBP fell 0.12% to 0.8859.

The US Dollar Index Futures was up 0.42% at 88.84.

Netherlands stocks higher at close of trade; AEX up 0.91%

2018-02-16 17:35 GMT

Investing.com – Netherlands stocks were higher after the close on Friday, as gains in the Industrials, Healthcare and Consumer Goods sectors led shares higher.

At the close in Amsterdam, the AEX added 0.91%.

The best performers of the session on the AEX were Koninklijke Vopak NV (AS:VOPA), which rose 13.73% or 4.73 points to trade at 39.19 at the close. Meanwhile, Relx NV (AS:RELN) added 1.87% or 0.310 points to end at 16.865 and Unibail Rodamco SE (AS:UNBP) was up 1.78% or 3.30 points to 188.85 in late trade.

The worst performers of the session were Randstad Holding NV (AS:RAND), which fell 0.34% or 0.20 points to trade at 58.92 at the close. Gemalto (AS:GTO) declined 0.32% or 0.16 points to end at 49.50 and Aegon NV (AS:AEGN) was down 0.32% or 0.018 points to 5.516.

Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 94 to 27 and 7 ended unchanged.

The AEX Volatility, which measures the implied volatility of AEX options, was down 13.66% to 14.74.

Crude oil for March delivery was up 0.77% or 0.47 to $61.81 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 1.12% or 0.72 to hit $65.05 a barrel, while the April Gold Futures contract rose 0.04% or 0.50 to trade at $1355.80 a troy ounce.

EUR/USD was down 0.50% to 1.2441, while EUR/GBP fell 0.16% to 0.8856.

The US Dollar Index Futures was up 0.42% at 88.84.

Denmark stocks higher at close of trade; OMX Copenhagen 20 up 2.03%

2018-02-16 17:35 GMT

Investing.com – Denmark stocks were higher after the close on Friday, as gains in the Healthcare, Personal&Household Goods and Industrials sectors led shares higher.

At the close in Copenhagen, the OMX Copenhagen 20 added 2.03%.

The best performers of the session on the OMX Copenhagen 20 were Novozymes A/S B (CO:NZYMb), which rose 2.88% or 9.0 points to trade at 322.0 at the close. Meanwhile, AP Moeller - Maersk A/S A (CO:MAERSKa) added 2.79% or 280 points to end at 10300 and AP Moeller - Maersk A/S B (CO:MAERSKb) was up 2.75% or 290 points to 10840 in late trade.

The worst performers of the session were TDC A/S (CO:TDC), which unchanged 0.00% or 0.00 points to trade at 49.25 at the close. Vestas Wind Systems A/S (CO:VWS) added 0.33% or 1.4 points to end at 426.4 and ISS A/S (CO:ISS) was up 0.57% or 1.30 points to 229.10.

Rising stocks outnumbered declining ones on the Copenhagen Stock Exchange by 82 to 34 and 17 ended unchanged.

Crude oil for March delivery was up 0.70% or 0.43 to $61.77 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 1.07% or 0.69 to hit $65.02 a barrel, while the April Gold Futures contract rose 0.06% or 0.80 to trade at $1356.10 a troy ounce.

USD/DKK was up 0.52% to 5.9871, while EUR/DKK fell 0.01% to 7.4480.

The US Dollar Index Futures was up 0.43% at 88.85.

France stocks higher at close of trade; CAC 40 up 1.13%

2018-02-16 17:35 GMT

Investing.com – France stocks were higher after the close on Friday, as gains in the Utilities, Oil&Gas and Healthcare sectors led shares higher.

At the close in Paris, the CAC 40 added 1.13%, while the SBF 120 index climbed 1.11%.

The best performers of the session on the CAC 40 were Airbus Group SE (PA:AIR), which rose 2.92% or 2.71 points to trade at 95.53 at the close. Meanwhile, Compagnie Generale des Etablissements Michelin SCA (PA:MICP) added 2.48% or 3.05 points to end at 126.20 and Pernod Ricard SA (PA:PERP) was up 2.47% or 3.25 points to 134.60 in late trade.

The worst performers of the session were Vivendi SA (PA:VIV), which fell 6.04% or 1.34 points to trade at 20.86 at the close. Compagnie de Saint Gobain SA (PA:SGOB) declined 0.39% or 0.17 points to end at 43.62 and Solvay SA (BR:SOLB) was down 0.18% or 0.20 points to 112.10.

The top performers on the SBF 120 were Eutelsat Communications (PA:ETL) which rose 12.17% to 19.03, SES (PA:SESFd) which was up 5.16% to settle at 11.81 and Worldline SA (PA:WLN) which gained 4.76% to close at 44.880.

The worst performers were Air France KLM SA (PA:AIRF) which was down 6.36% to 10.020 in late trade, Vivendi SA (PA:VIV) which lost 6.04% to settle at 20.86 and DBV Technologies (PA:DBV) which was down 3.15% to 41.220 at the close.

Rising stocks outnumbered declining ones on the Paris Stock Exchange by 418 to 184 and 95 ended unchanged.

Shares in Airbus Group SE (PA:AIR) rose to all time highs; rising 2.92% or 2.71 to 95.53. Shares in Pernod Ricard SA (PA:PERP) rose to all time highs; rising 2.47% or 3.25 to 134.60.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 7.91% to 16.40.

Gold Futures for April delivery was up 0.05% or 0.70 to $1356.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.70% or 0.43 to hit $61.77 a barrel, while the April Brent oil contract rose 1.09% or 0.70 to trade at $65.03 a barrel.

EUR/USD was down 0.51% to 1.2440, while EUR/GBP fell 0.15% to 0.8857.

The US Dollar Index Futures was up 0.43% at 88.85.

Nigeria stocks higher at close of trade; NSE 30 up 0.16%

2018-02-16 17:15 GMT

Investing.com – Nigeria stocks were higher after the close on Friday, as gains in the Food, Beverages&Tobacco, Oil&Gas and Insurance sectors led shares higher.

At the close in Lagos, the NSE 30 added 0.16%.

The best performers of the session on the NSE 30 were Nestle Nig (LAGOS:NESTLE), which rose 4.09% or 55.00 points to trade at 1400.00 at the close. Meanwhile, Zenithbank (LAGOS:ZENITHB) added 1.11% or 0.35 points to end at 32.00 and Wapco (LAGOS:WAPCO) was up 0.96% or 0.50 points to 52.50 in late trade.

The worst performers of the session were Wemabank (LAGOS:WEMABAN), which fell 4.80% or 0.060 points to trade at 1.190 at the close. Diamond Bank (LAGOS:DIAMONB) declined 4.48% or 0.130 points to end at 2.770 and Skye Bank (LAGOS:SKYEBAN) was down 4.39% or 0.050 points to 1.090.

Falling stocks outnumbered advancing ones on the Lagos by 66 to 24 and 20 ended unchanged.

Crude oil for March delivery was up 0.59% or 0.36 to $61.70 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 0.96% or 0.62 to hit $64.95 a barrel, while the April Gold Futures contract fell 0.08% or 1.10 to trade at $1354.20 a troy ounce.

EUR/NGN was up 0.08% to 449.990, while USD/NGN rose 0.14% to 360.500.

The US Dollar Index Futures was up 0.49% at 88.90.

Germany stocks higher at close of trade; DAX up 0.86%

2018-02-16 17:15 GMT

Investing.com – Germany stocks were higher after the close on Friday, as gains in the Consumer&Cyclical, Financial Services and Industrials sectors led shares higher.

At the close in Frankfurt, the DAX added 0.86%, while the MDAX index climbed 1.33%, and the TecDAX index gained 1.73%.

The best performers of the session on the DAX were Vonovia SE (DE:VNAn), which rose 2.52% or 0.92 points to trade at 37.41 at the close. Meanwhile, Prosiebensat 1 Media AG (DE:PSMGn) added 1.98% or 0.610 points to end at 31.470 and Fresenius Medical Care KGAA ST (DE:FMEG) was up 1.85% or 1.600 points to 87.880 in late trade.

The worst performers of the session were Linde AG O.N. (DE:LING), which fell 0.94% or 1.65 points to trade at 174.50 at the close. Muench. Rueckvers. VNA O.N. (DE:MUVGn) declined 0.36% or 0.65 points to end at 182.10 and Commerzbank AG O.N. (DE:CBKG) was down 0.36% or 0.046 points to 12.790.

The top performers on the MDAX were Stroeer SE (DE:SAXG) which rose 3.92% to 63.650, Kion Group AG (DE:KGX) which was up 3.78% to settle at 71.30 and Airbus Group SE (F:AIRG) which gained 2.41% to close at 95.330.

The worst performers were Lanxess AG (DE:LXSG) which was down 0.35% to 67.580 in late trade, Hugo Boss AG NA O.N. (DE:BOSSn) which lost 0.22% to settle at 72.940 and Wacker Chemie O.N. (DE:WCHG) which was down 0.18% to 141.05 at the close.

The top performers on the TecDAX were RIB Software AG Na (DE:RIB) which rose 8.23% to 25.520, Morphosys AG O.N. (DE:MORG) which was up 4.86% to settle at 75.550 and Carl Zeiss Meditec AG (DE:AFXG) which gained 2.86% to close at 50.750.

The worst performers were Pfeiffer Vacuum Technology O.N. (DE:PV) which was down 2.84% to 154.00 in late trade, Nordex SE O.N. (DE:NDXG) which lost 1.21% to settle at 9.468 and Adva Optical Networking SE (DE:ADAG) which was down 0.79% to 6.290 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 562 to 178 and 66 ended unchanged.

Shares in Airbus Group SE (F:AIRG) rose to all time highs; up 2.41% or 2.240 to 95.330.

The DAX volatility index, which measures the implied volatility of DAX options, was down 9.83% to 18.66.

Gold Futures for April delivery was down 0.07% or 0.90 to $1354.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.60% or 0.37 to hit $61.71 a barrel, while the April Brent oil contract rose 0.98% or 0.63 to trade at $64.96 a barrel.

EUR/USD was down 0.57% to 1.2433, while EUR/GBP fell 0.20% to 0.8852.

The US Dollar Index Futures was up 0.49% at 88.90.

Russia stocks lower at close of trade; MOEX Russia down 0.45%

2018-02-16 17:05 GMT

Investing.com – Russia stocks were lower after the close on Friday, as losses in the Mining, Power and Manufacturing sectors led shares lower.

At the close in Moscow, the MOEX Russia declined 0.45%.

The best performers of the session on the MOEX Russia were Yandex NV (MCX:YNDX), which rose 3.85% or 88.00 points to trade at 2371.50 at the close. Meanwhile, Tatneft-3 (MCX:TATN) added 1.61% or 9.00 points to end at 569.00 and MegaFon OAO (MCX:MFON) was up 1.52% or 8.00 points to 533.00 in late trade.

The worst performers of the session were MMC Norilsk Nickel (MCX:GMKN), which fell 8.27% or 975.0 points to trade at 10810.0 at the close. Magnit (MCX:MGNT) declined 7.77% or 377.0 points to end at 4473.0 and United Company Rusal Plc (MCX:RUAL) was down 5.37% or 2.200 points to 38.780.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 130 to 89 and 19 ended unchanged.

Shares in Yandex NV (MCX:YNDX) rose to all time highs; rising 3.85% or 88.00 to 2371.50. Shares in Magnit (MCX:MGNT) fell to 5-year lows; down 7.77% or 377.0 to 4473.0.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was down 0.14% to 21.610.

Gold Futures for April delivery was down 0.02% or 0.30 to $1355.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.62% or 0.38 to hit $61.72 a barrel, while the April Brent oil contract rose 1.03% or 0.66 to trade at $64.99 a barrel.

USD/RUB was down 0.16% to 56.3095, while EUR/RUB fell 0.71% to 70.0225.

The US Dollar Index Futures was up 0.46% at 88.88.

Sweden stocks higher at close of trade; OMX Stockholm 30 up 0.92%

2018-02-16 17:05 GMT

Investing.com – Sweden stocks were higher after the close on Friday, as gains in the Oil&Gas, Consumer Services and Industrials sectors led shares higher.

At the close in Stockholm, the OMX Stockholm 30 gained 0.92%.

The best performers of the session on the OMX Stockholm 30 were Fingerprint Cards AB ser. B (ST:FINGb), which rose 3.11% or 0.30 points to trade at 10.00 at the close. Meanwhile, Tele2 AB (ST:TEL2b) added 2.05% or 1.94 points to end at 96.36 and ASSA ABLOY AB ser. B (ST:ASSAb) was up 1.89% or 3.3 points to 177.5 in late trade.

The worst performers of the session were Boliden AB (ST:BOL), which fell 0.10% or 0.30 points to trade at 288.50 at the close. Electrolux, AB ser. B (ST:ELUXb) added 0.11% or 0.3 points to end at 268.3 and Skanska AB ser. B (ST:SKAb) was up 0.24% or 0.40 points to 164.70.

Rising stocks outnumbered declining ones on the Stockholm Stock Exchange by 420 to 214 and 33 ended unchanged.

Crude oil for March delivery was up 0.85% or 0.52 to $61.86 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 1.29% or 0.83 to hit $65.16 a barrel, while the April Gold Futures contract unchanged 0.00% or 0.00 to trade at $1355.30 a troy ounce.

EUR/SEK was down 0.29% to 9.8873, while USD/SEK rose 0.26% to 7.9500.

The US Dollar Index Futures was up 0.45% at 88.87.

Norway stocks higher at close of trade; Oslo OBX up 1.11%

2018-02-16 17:05 GMT

Investing.com – Norway stocks were higher after the close on Friday, as gains in the Pharma Biotech&Life Sciences, Telecoms and Food, Beverages&Tobacco sectors led shares higher.

At the close in Oslo, the Oslo OBX gained 1.11%.

The best performers of the session on the Oslo OBX were Norwegian Finans Holding ASA (OL:NOFI), which rose 4.14% or 3.30 points to trade at 83.10 at the close. Meanwhile, P/f Bakkafrost (OL:BAKKA) added 3.43% or 12.40 points to end at 374.40 and Grieg Seafood (OL:GSFO) was up 3.21% or 2.15 points to 69.15 in late trade.

The worst performers of the session were Norwegian Air Shuttle ASA (OL:NWC), which fell 4.89% or 9.00 points to trade at 185.00 at the close. BW LPG Ltd (OL:BWLPG) declined 2.00% or 0.69 points to end at 33.85 and DNO International ASA (OL:DNO) was down 1.52% or 0.15 points to 9.60.

Rising stocks outnumbered declining ones on the Oslo Stock Exchange by 117 to 69 and 19 ended unchanged.

Crude oil for March delivery was up 0.82% or 0.50 to $61.84 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 1.26% or 0.81 to hit $65.14 a barrel, while the April Gold Futures contract rose 0.01% or 0.10 to trade at $1355.40 a troy ounce.

EUR/NOK was down 0.62% to 9.6527, while USD/NOK fell 0.06% to 7.7616.

The US Dollar Index Futures was up 0.46% at 88.88.

Greece stocks higher at close of trade; Athens General Composite up 0.04%

2018-02-16 16:15 GMT

Investing.com – Greece stocks were higher after the close on Friday, as gains in the Food, Household and Healthcare sectors led shares higher.

At the close in Athens, the Athens General Composite rose 0.04%.

The best performers of the session on the Athens General Composite were Coca Cola HBC AG (AT:EEEr), which rose 3.95% or 1.0650 points to trade at 27.9950 at the close. Meanwhile, Elton S.A. (AT:ELNr) added 3.21% or 0.050 points to end at 1.610 and J.&P. Avax (AT:AVAr) was up 2.80% or 0.024 points to 0.881 in late trade.

The worst performers of the session were Autohellas (AT:AUTr), which fell 4.00% or 1.00 points to trade at 24.20 at the close. Centric Hold (AT:DESr) declined 2.81% or 0.005 points to end at 0.173 and Elvalhalcor Hellenic Copper and Aluminium Industry SA (AT:ELHA) was down 2.69% or 0.050 points to 1.810.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 60 to 56 and 13 ended unchanged.

Shares in Elton S.A. (AT:ELNr) rose to 5-year highs; rising 3.21% or 0.050 to 1.610.

Gold Futures for April delivery was up 0.25% or 3.40 to $1358.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.36% or 0.22 to hit $61.56 a barrel, while the April Brent oil contract rose 0.78% or 0.50 to trade at $64.83 a barrel.

EUR/USD was down 0.38% to 1.2456, while EUR/GBP fell 0.18% to 0.8854.

The US Dollar Index Futures was up 0.31% at 88.74.

Turkey stocks higher at close of trade; BIST 100 up 0.25%

2018-02-16 16:05 GMT

Investing.com – Turkey stocks were higher after the close on Friday, as gains in the Sports, Insurance and Wholesale&Retail Trade sectors led shares higher.

At the close in Istanbul, the BIST 100 rose 0.25%.

The best performers of the session on the BIST 100 were Turcas Petrol AS (IS:TRCAS), which rose 5.86% or 0.130 points to trade at 2.350 at the close. Meanwhile, Alcatel Lucent Teletas Telekomunikasyon AS (IS:ALCTL) added 3.66% or 0.270 points to end at 7.640 and Fenerbahce Futbol AS (IS:FENER) was up 3.01% or 1.02 points to 34.90 in late trade.

The worst performers of the session were Tesco Kipa Kitle Pazarlama Ticaret Lojistik ve Gida Sanayi AS (IS:KIPA), which fell 2.84% or 0.120 points to trade at 4.110 at the close. GSD Holding AS (IS:GSDHO) declined 2.30% or 0.020 points to end at 0.850 and Global Yatirim Holding AS (IS:GLYHO) was down 1.92% or 0.080 points to 4.090.

Rising stocks outnumbered declining ones on the Istanbul Stock Exchange by 196 to 145 and 67 ended unchanged.

Gold Futures for April delivery was up 0.23% or 3.10 to $1358.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.07% or 0.04 to hit $61.38 a barrel, while the April Brent oil contract rose 0.56% or 0.36 to trade at $64.69 a barrel.

USD/TRY was down 0.62% to 3.7410, while EUR/TRY fell 1.04% to 4.6578.

The US Dollar Index Futures was up 0.36% at 88.79.

Bitcoin Takes 2nd Shot at $10,000 as Litecoin and Ripple Lead Weekly Gains

2018-02-16 15:59 GMT

Investing.com - Cryptocurrencies were trading mostly higher on Friday, as Bitcoin fought to hold above the $10,000 mark for a second consecutive session.

The largest digital currency by market cap recovered $10,000 on Thursday but pared gains by the end of the day to fall back below that level. Bitcoin wavered around the psychological level overnight and in early morning trade and was last holding above it.

Easing regulatory fears provided a stable backdrop for a sharp move higher throughout the week in the popular digital currency with other rivals swept along in a generally bullish move.

Rising inflows into the market continued amid fading regulatory fears after South Korea appeared to pivot toward more ‘friendly’ approaches to regulate the crypto industry.

“We are positively considering the adoption of an exchange approval system as the additional regulation on cryptocurrencies,” a South Korean government official said this week, according to a report from BusinessKorea. “We are most likely benchmark the model of the State of New York that gives a selective permission.”

That paved the way for cryptoinvestors to return to the market as initial fears that South Korea – which accounts for a large part of cryptocurrency trading activity – would issue an outright ban on cryptocurrencies was one of the chief reasons for the recent crash.

Still reeling from the selloff that saw bitcoin tumble to a low of $6,000 on the Bitfinex exchange, investors appear to have adopted a somewhat measured approach in their return to the market.

At 11:57AM ET (14:57GMT), Bitcoin gained 2.07% to $10,021.00, recovering more than 20% in the last seven days. Though still short of its intraday high at $10,271.00, it remained far from its 2018 low of $6,000 reached on February 6 amid the widespread crypto selloff.

Though Ripple was trading around the unchanged mark for most of Friday, it was sporting superior weekly gains of more than 30%. The digital coin -the third largest by market cap that was designed for banks and global money transfers and with one of the more affordable price tags- jumped this week after the UAE Exchange announced that it will be adopting Ripple for its cross-border payments. According to the report from Arabian Business, “this makes it the largest UAE-based exchange to incorporate blockchain technology into its daily operations.”

However, the clear winner this week was Litecoin, trading up around 3% on Friday but on track for gains of nearly 50% in the last 7 days. The fifth largest cryptocurrency by market cap was supported by news that it will undergo a fork, in a move similar to that of Bitcoin and Bitcoin Cash sometime on February 19 in order to create Litecoin Cash that will have a faster transaction time. Adding to the bullish feeling earlier in the week, it was reported that LitePay, a payment infrastructure for the digital currency, was set to be launched as soon as February 26.

Crude Oil Prices Mixed After Dollar Recovery

2018-02-16 15:07 GMT

Investing.com - Crude oil prices were mixed on Friday, as the U.S. dollar rebounded from earlier losses, while expectations for further efforts to limit global oil output continued to support.

The U.S. West Texas Intermediate crude March contract was down 18 cents or about 0.29% at $61.16 a barrel by 10:05 a.m. ET (14:05 GMT), off one-week highs of $61.88 hit earlier in the day.

Elsewhere, Brent oil for April delivery on the ICE Futures Exchange in London added 11 cents or about 0.14% to $64.42 a barrel, still on the upside but off session highs of $64.94.

The rally in oil prices was capped as the greenback regained some strength after data on Friday showed that U.S. homebuilding increased to more than a one-year high in January and that building permits soared to their highest level since 2007.

The greenback came under broad selling pressure earlier amid fresh concerns over the U.S. deficit, which is projected to climb near $1 trillion in 2019 following the announcement of infrastructure spending and large corporate tax cuts.

A weaker greenback often boosts prices for dollar-denominated commodities.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.51% at 88.92, off a three-year trough of 88.16 hit earlier.

But oil prices remained supported after United Arab Emirates energy minister Suhail al-Mazroui said on Thursday that oil producers led by Saudi Arabia and Russia aim to draft an agreement on a long-term alliance to cut output by the end of this year.

The Organization of the Petroleum Exporting Countries (OPEC), along with some non-OPEC members led by Russia, agreed in December to extend oil output cuts until the end of 2018.

The deal to cut oil output by 1.8 million barrels a day (bpd) was adopted last winter by OPEC, Russia and nine other global producers. The agreement was due to end in March 2018, having already been extended once.

The commodity had already received a boost earlier in the week when Saudi Energy Minister Khalid al-Falih said his country will be “sticking” with its policy to withhold production throughout 2018.

However fears that rising U.S. output could dampen OPEC’s efforts to rid the market of excess supplies have systematically limited oil prices' gains recently.

Elsewhere, gasoline futures declined 0.40% to $1.734 a gallon, while natural gas futures lost 0.50% to $2.566 per million British thermal units.

U.S. Consumer Sentiment Hits Second Highest Level Since 2004

2018-02-16 15:00 GMT

Investing.com – U.S. consumer sentiment unexpectedly increased in February, according to a report published on Friday.

The preliminary publication of the data for February from the University of Michigan's Consumer Survey Center showed that consumer sentiment rose to 99.9 last month. That was its second highest reading since 2004.

That was compared to January’s reading of 95.7.

Analysts had forecast the reading to slip to 95.4.

The current conditions indicator advanced to 115.1 in February, from the previous 110.5.

Economists had projected that the index would rise to only 112.0.

Meanwhile, inflation expectations for the next 12 months held steady at 2.7%, while the five-year gauge was unchanged at 2.5%.

Chief economist Richard Curtin noted that stock market gyrations were dominated by rising incomes, employment growth, and by net favorable perceptions of the tax reforms.

“Indeed, when asked to identify any recent economic news they had heard, negative references to stock prices were spontaneously cited by just 6% of all consumers,” he said in the report.

“In contrast, favorable references to government policies were cited by 35% in February, unchanged from January, and the highest level recorded in more than a half century,” he added.

Curtin further commented that the survey showed the largest proportion of households that reported an improved financial situation since the year 2000 and that they largely expected higher income gains over the next year.

"Overall, the data signal an expected gain of 2.9% in real personal consumption expenditures during 2018," Curtin concluded.

Gold Prices Trim Gains as Dollar Rebounds

2018-02-16 13:55 GMT

Investing.com - Gold prices trimmed gains on Friday, pulling away from three-and-a-half week highs as the release of strong U.S. housing sector data sent the greenback broadly higher.

Comex gold futures were up 0.23% at $1,358.2 a troy ounce by 08:50 a.m. ET (12:50 GMT), after rising to a three-and-a-half week peak of $1,364.40 earlier in the day.

The dollar rebounded after data showed that U.S. homebuilding increased to more than a one-year high in January and that building permits soared to their highest level since 2007.

The greenback came under broad selling pressure earlier amid fresh concerns over the U.S. deficit, which is projected to climb near $1 trillion in 2019 following the announcement of infrastructure spending and large corporate tax cuts.

The dollar had initially strengthened after the U.S. Commerce Department reported on Wednesday that consumer prices rose more than expected in January by 0.5%, sending U.S. bond yields higher.

Data on Thursday showed that the U.S. producer price index rose in line with expectations by 0.4% last month.

Rising inflation would be a catalyst to push the Federal Reserve toward raising interest rates at a faster pace than currently expected.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.34% at 88.77, off a three-year trough of 88.16 hit earlier.

Gold is sensitive to moves in both U.S. rates and the dollar. A stronger dollar makes gold more expensive for holders of foreign currency, while a rise in U.S. rates lifts the opportunity cost of holding non-yielding assets such as bullion.

Elsewhere on the Comex, silver futures were down 0.15% at $16.77 a troy ounce.

Dollar Turns Higher on Strong U.S. Housing Sector Data

2018-02-16 13:46 GMT

Investing.com - The U.S. dollar turned higher against other major currencies on Friday, bouncing off a three-year low after the release of strong U.S. housing sector data offset concerns over the rising U.S. deficit.

The dollar rebounded after data showed that U.S. homebuilding increased to more than a one-year high in January and that building permits soared to their highest level since 2007.

The greenback came under broad selling pressure earlier amid fresh concerns over the U.S. deficit, which is projected to climb near $1 trillion in 2019 following the announcement of infrastructure spending and large corporate tax cuts.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.38% at 88.82 by 08:40 a.m. ET (12:40 GMT), off a three-year trough of 88.16 hit earlier in the day.

The yen and the Swiss franc turned lower, with USD/JPY up 0.15% at 106.28 and with USD/CHF rising 0.25% to 0.9247.

Elsewhere, the euro and the pound were weaker, with EUR/USD down 0.39% at 1.2455 and with GBP/USD declining 0.45% to 1.4032.

Earlier Friday, the UK Office for National Statistics reported that retail sales rose 0.1%, disappointing expectations for an increase of 0.5%.

The Australian and New Zealand dollars were also lower, with AUD/USD shedding 0.20% to 0.7925 and with NZD/USD falling 0.27% to 0.7388.

Meanwhile, USD/CAD gained 0.31% to trade at 1.2529 after Statistics Canada reported that manufacturing sales fell 0.3% in December, disappointing expectations for a 0.2% rise.

U.S. Homebuilding Rises In January

2018-02-16 13:01 GMT

Investing.com - U.S. homebuilding rose higher than expected in January, increasing optimism over the strengthening economy.

Housing starts surged 9.7% to a seasonally adjusted annual rate of 1.326 million units last month, the Commerce Department said on Friday.

Economists had forecast housing starts rising to a pace of 1.234 million units last month.

In another report, building permits rose 7.4% to a rate of 1.396 million units in January. Economists had forecast building permits decreasing to a pace of 1.290 million units last month.

U.S. Import Prices Rise in January

2018-02-16 13:30 GMT

Investing.com - U.S. import and export prices rose in January, official data showed on Friday.

In a report, the U.S. Bureau of Labor Statistics said import prices increased by a seasonally adjusted 1.0% last month.

Economists were looking for a 0.6% increase.

Import prices had risen by 0.2% in December, revised from an initial 0.1% advance.

Meanwhile, export prices increased by a seasonally adjusted 0.8% in January.

Analysts had forecast a 0.3% gain.

That followed a 0.1% gain a month earlier that was revised from an initial decline of 0.1%.

Here Comes Litecoin Cash

2018-02-16 12:31 GMT

Investing.com - A major fork in the cryptocurrency world is coming and its generating some controversy, even though splits have become common in the past year.Sometime on February 19, Litecoin Cash will fork from Litecoin, currently the sixth largest digital currency by market capitalization.The situation is reminiscent of the famous Bitcoin Cash split from Bitcoin in August 2017, one of 19 Bitcoin forks last year.Like any hard fork, Litecoin Cash will have its own blockchain technology, separate to the existing one. Its founders say Litecoin Cash's block speed will be significantly faster than Litecoin and Bitcoin.Litecoin's creator, Charlie Lee, has reportedly warned that any fork could be a scam, because the new coin would be leveraging the Litecoin name to establish legitimacy. Litecoin Cash's creators told Business Insider that the coin is not a scam and offered significant improvement.Some market watchers are predicting that forks will become even more common after the recent launch of Forkgen, a site that enables people with sufficient programming skills to create spinoff currencies.

Ells Yields Chipotle CEO Post, But Don't Rule Out Comeback

2018-02-16 12:14 GMT

Investing.com - Chipotle's Steve Ells can count himself among the many impressive entrepreneurs to step down as CEO of the company he founded.
Since the modern tech boom, it has happened with the founders of such groundbreaking companies as Apple (NASDAQ:AAPL), Cisco, Yahoo (NASDAQ:AABA), Google (NASDAQ:GOOGL) and eBay .
More recently, CEO founders were replaced at a new generation of trailblazing companies, such as Twitter, Pandora, Zynga and Reddit.
Most, like Ells. agreed to give up their jobs, either because they wanted a seasoned, professional manager at the helm or because a decline in the company's fortunes dictated change.
Others were forced out of their roles by unhappy investors or boards.
Ells, however, might want to keep his CEO skills sharp,.
Founders have been known to make comebacks at their own companies.
Jack Dorsey, for example, is back at Twitter, and Steve Jobs' second stint at Apple is the stuff of legend.

India stocks lower at close of trade; Nifty 50 down 0.88%

2018-02-16 10:45 GMT

Investing.com – India stocks were lower after the close on Friday, as losses in the Auto, Metals and Public Sector Undertakings sectors led shares lower.

At the close in NSE, the Nifty 50 fell 0.88% to hit a new 1-month low, while the BSE Sensex 30 index lost 0.84%.

The best performers of the session on the Nifty 50 were Ambuja Cements Ltd. (NS:ABUJ), which rose 1.22% or 3.10 points to trade at 257.05 at the close. Meanwhile, Infosys Ltd (NS:INFY) added 0.92% or 10.20 points to end at 1128.05 and Cipla Ltd. (NS:CIPL) was up 0.59% or 3.55 points to 611.10 in late trade.

The worst performers of the session were Eicher Motors Ltd. (NS:EICH), which fell 3.31% or 939.45 points to trade at 27328.15 at the close. Tech Mahindra Ltd (NS:TEML) declined 3.26% or 19.75 points to end at 584.35 and Indiabulls Housing Finance Ltd (NS:INBF) was down 3.30% or 43.30 points to 1272.35.

The top performers on the BSE Sensex 30 were Kotak Mahindra Bank Ltd. (BO:KTKM) which rose 1.14% to 1052.80, Infosys Ltd (BO:INFY) which was up 0.96% to settle at 1124.85 and Dr. Reddy’s Laboratories Ltd (BO:REDY) which gained 0.83% to close at 2212.75.

The worst performers were State Bank Of India (BO:SBI) which was down 2.55% to 271.75 in late trade, Yes Bank Ltd (BO:YESB) which lost 2.52% to settle at 311.90 and ICICI Bank Ltd (BO:ICBK) which was down 2.31% to 321.00 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1300 to 299 and 24 ended unchanged; on the Bombay Stock Exchange, 2038 fell and 688 advanced, while 108 ended unchanged.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 0.38% to 16.3775.

Gold Futures for April delivery was up 0.52% or 7.00 to $1362.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.41% or 0.25 to hit $61.59 a barrel, while the April Brent oil contract rose 0.53% or 0.34 to trade at $64.67 a barrel.

USD/INR was up 0.49% to 64.205, while EUR/INR rose 0.37% to 80.1973.

The US Dollar Index Futures was up 0.02% at 88.49.

Dollar Hovers Near 3-Year Lows, U.S. Housing Sector Data on Tap

2018-02-16 10:15 GMT

Investing.com - The U.S. dollar was hovering near three-year lows against other major currencies on Friday, as fresh concerns over the U.S. deficit weighed on the greenback and as investors eyed the release of U.S. housing sector data due later in the day.

The greenback turned broadly lower due to mounting concerns over the deficit in the U.S., which is projected to climb near $1 trillion in 2019 following the announcement of infrastructure spending and large corporate tax cuts.

The dollar had initially strengthened after the U.S. Commerce Department reported on Wednesday that consumer prices rose more than expected in January by 0.5%, sending U.S. bond yields higher.

Data on Thursday showed that the U.S. producer price index rose in line with expectations by 0.4% last month.

Rising inflation would be a catalyst to push the Federal Reserve toward raising interest rates at a faster pace than currently expected.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.12% at 88.36 by 05:15 a.m. ET (09:15 GMT), just off a three-year trough of 88.16 hit overnight.

USD/JPY was down 0.11% at 105.99, the weakest level since November 2016, while USD/CHF fell 0.29% to 0.9197.

Elsewhere, the euro and the pound were higher, with EUR/USD up 0.23% at 1.2533, while GBP/USD held steady at 1.4102.

Earlier Friday, the UK Office for National Statistics reported that retail sales rose 0.1%, disappointing expectations for an increase of 0.5%.

The Australian and New Zealand dollars were stronger, with AUD/USD up 0.52% at 0.7985 and with NZD/USD rising 0.31% to 0.7431.

Meanwhile, USD/CAD shed 0.25% to trade at 1.2458.

Crude Oil Prices Rise on Renewed Optimism

2018-02-16 09:11 GMT

Investing.com - Crude oil prices rose on Friday, helped by a weak U.S. dollar and by hopes for further efforts to limit global oil output.

The U.S. West Texas Intermediate crude March contract was up 43 cents or about 0.72% at $61.78 a barrel by 04:05 a.m. ET (08:05 GMT), the highest since February 8.

Elsewhere, Brent oil for April delivery on the ICE Futures Exchange in London gained 55 cents or about 0.87% to $64.89 a barrel.

The greenback turned broadly lower amid sustained concerns over the deficit in the U.S., which is projected to climb near $1 trillion in 2019 following the announcement of infrastructure spending and large corporate tax cuts.

A weaker greenback often boosts prices for dollar-denominated commodities.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.23% at 88.27, the lowest since December 2014.

Oil prices also found support after United Arab Emirates energy minister Suhail al-Mazroui said on Thursday that oil producers led by Saudi Arabia and Russia aim to draft an agreement on a long-term alliance to cut output by the end of this year.

The Organization of the Petroleum Exporting Countries (OPEC), along with some non-OPEC members led by Russia, agreed in December to extend oil output cuts until the end of 2018.

The deal to cut oil output by 1.8 million barrels a day (bpd) was adopted last winter by OPEC, Russia and nine other global producers. The agreement was due to end in March 2018, having already been extended once.

The commodity had already received a boost earlier in the week when Saudi Energy Minister Khalid al-Falih said his country will be “sticking” with its policy to withhold production throughout 2018.

However fears that rising U.S. output could dampen OPEC’s efforts to rid the market of excess supplies have systematically limited oil prices' gains recently.

The Energy Information Administration reported on Wednesday that U.S. crude oil production rose to a fresh record of 10.27 million barrels per day (bpd), more than top exporter Saudi Arabia and not far from the biggest world producer, Russia.

Elsewhere, gasoline futures gained 0.43% to $1.748 a gallon, while natural gas futures lost 0.85% to $2.558 per million British thermal units.

Dollar Falls to 3-Year Lows as Fresh Worries Emerge

2018-02-16 07:01 GMT

Investing.com - The U.S. dollar fell to three-year lows against other major currencies on Friday, as fresh concerns over U.S. policies and especially the rising deficit offset optimism sparked by recent U.S. economic reports.

The greenback turned broadly lower amid sustained concerns over the deficit in the U.S., which is projected to climb near $1 trillion in 2019 following the announcement of infrastructure spending and large corporate tax cuts.

The dollar had initially strengthened after the U.S. Commerce Department reported on Wednesday that consumer prices rose more than expected in January by 0.5%, sending U.S. bond yield higher.

Data on Thursday showed that the U.S. producer price index rose in line with expectations by 0.4% last month.

Rising inflation would be a catalyst to push the Federal Reserve toward raising interest rates at a faster pace than currently expected.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.21% at 88.27 by 02:00 a.m. ET (06:00 GMT), the lowest since December 2014.

USD/JPY was down 0.31% at 105.79, the weakest level since November 2016, while USD/CHF fell 0.30% to 0.9196.

Elsewhere, the euro and the pound were higher, with EUR/USD up 0.27% at 1.2537 and with GBP/USD gaining 0.23% to 1.4128.

The Australian and New Zealand dollars were also stronger, with AUD/USD up 0.35% at 0.7972 and with NZD/USD rising 0.22% to 0.7424.

Meanwhile, USD/CAD edged down 0.16% to trade at 1.2469.

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