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Key events and releases for the week starting February 22 Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Fed Powell testifies. RBNZ rate decision Monday German Ifo business climate index. 4 AM ET/0 900 GMT NZD retail sales QoQ, 4:45 PM ET/2145 GMT Tuesday UK employment statistics. 2 PM ET/0700 GMT Fed Powell
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By John Kemp LONDON: US petroleum consumption and inventories have returned to normal after the pandemic and volume war last year, with the significant exception of jet fuel, where demand remains suppressed by travel restrictions. Market rebalancing has been completed earlier than seemed likely a few months ago, as a result of a strong recovery
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NEW YORK: Oil prices fell for a second day on Friday, retreating further from recent highs as Texas energy companies began preparations to restart oil and gas fields shuttered by freezing weather. Brent crude futures were down 33 cents, or 0.5%, at $63.60 a barrel by 11:06 a.m. (1606 GMT) U.S. West Texas Intermediate (WTI)
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Highlights of the G7 statement Will shape a recovery that promotes the health and prosperity of our people and planet Covid-19 shows the world needs stronger defenses against future risks to global health security We reaffirm our support to the most vulnerable countries We will put our global ambitions on climate change and the reversal
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Forex news for Asia trading for Friday 19 February 2021 The Canadian dollar was a mover on the session, weakening alongside the continued slide in oil prices during the day here. A restart of power supplies to some parts of Texas will enable some oil production to recommence, and the Biden administration looking to restart
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Australian Dollar strengthens mildly in Asian session today, as supported by another set of solid job data. But overall, trading in the forex markets is subdued. Dollar is taking a breather as FOMC minutes provided no special inspirations. The greenback is, nonetheless, staying as the strongest one for the week, together with Sterling. Yen, Swiss
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Weekly US petroleum inventory data Prior crude -6645K Gasoline +672K vs +1477K expected Distillates -3422K vs -1549K expected Production 10.8 mbpd vs 11.0 mbpd prior API private oil inventories from late yesterday: Crude -5800K Gasoline +3900K Distillates -3500K Cushing -3000K This is for the week ending Feb 12 so it doesn’t capture the impact of
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Dollar is back under some selling pressure, starting in European session, and intensifies after poor job data. Weakness in the greenback is dragging down Canadian Dollar as the second worst performing, while Yen follows as third. Sterling is once again leading the way higher, followed by Aussie and Kiwi. Euro and Swiss France are mixed,
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The FOMC minutes for the January meeting revealed that policymakers were cautiously optimistic over the economic outlook. Meanwhile, it also dampened hopes of tapering. US dollar’s rebound has been driven by more upbeat economic data and rising yields. However, the Fed’s pledge to maintain an ultra accommodative policy should keep upside limited. The members acknowledged
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