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Platinum falls for first session in four, dollar off two-year nadir

Economies.com
2020-09-02 05:26AM UTC

Platinum prices fell nearly one percent in Asian trade off August 19 highs as the dollar index climbed from April 2018 lows, ahead of US data later today. 

 

As of 05:52 GMT, platinum prices fell 0.86% to $,938.64, while the dollar index rose 0.16% to 92.36. 

 

From the US, private sector employment is expected up 1.25 million in August, compared to a 167K addition in July, while factory orders are expected up 6% in July. 

 

Federal Reserve Bank of Cleveland President Loretta Mester will speak about the US economic outlook and monetary policy at the National Association for Business Economics seminar, via satellite.

 

White House chief medical adviser Anthony Fauci said there could be a Covid 19 vaccine sooner than expected, with initial results proving very promising. 

Sterling jumps to 11-month peak against weaker dollar

Economies.com
2020-09-01 20:13PM UTC

The British pound rose against most major currencies on Tuesday, and hit an 11-month high against the US dollar, as investors rushed to risky currencies instead of the currently weak greenback.

 

Federal Reserve Chairman Jerome Powell's announcement of a new shift in the Fed's policy, which will allow inflation to run above the previous Fed’s target of 2%, and the interest rate to remain near zero.

 

But sterling's gains will likely remain limited ahead of the Bank of England's monetary policy statement.

 

The British pound rose 0.3% against the US dollar, and hit at the highest level since mid-December 2019 at 1.3411, while it rose less than 0.1% against the euro, to 89.31.

 

As of 21:11 GMT, GBP/USD rose 1% to 1.338, after hitting a high of 1.3483, and a low of 1.3356.

Silver closes higher, expands gains after August

Economies.com
2020-09-01 20:44PM UTC

Silver prices rose on Tuesday, despite the US dollar rise against most currencies, to expand profit after posting a strong monthly gain in August.

 

The ISM manufacturing PMI rose to the highest level since January 2019 at 56 points in August vs. 54.2 points in July.

 

The dollar index rose against a basket of currencies by 0.2% to 92.3 points as of 21:31 GMT, after hitting a high of 92.2 and a low of 91.7.

 

US Treasury Secretary Steven Mnuchin expressed that talks are continuing between the leaders of the Democratic and Republican parties to reach an agreement on the second coronavirus-relief package.

 

Silver December futures rose 0.2% to close at $28.645 an ounce, after posting monthly gains of 18%, and hit today's high at $29,235 and the low at $27,835.

US crude inventories fall over 6 million barrels - API

Economies.com
2020-09-01 21:31PM UTC

The American Petroleum Institute (API) revealed today in preliminary data that the US crude inventories fell by about 6.4 million barrels during the past week, beating expectations of a drop by 1.2 million barrels.

 

The gasoline inventories fell 5.8 million barrels, and the distillate inventories declined 1.4 million barrels during the same period.

 

While the Energy Information Administration (EIA) will release the official data on Wednesday, which have a significant impact on oil prices movement.

Frequently asked questions

What is the price of Platinum today?

The price of Platinum is $1407.10 (2025-07-04 23:54PM UTC)