Daily market review – July 4th 2017


The price of the oil climbed yesterday for the eighth day in succession, the longest streak in more than seven years, on the back of the first decline in 24 weeks in the number of drilling rigs operating in the US.
The price of oil jumped by 10.7% in the last eight trading days, the longest daily streak since January 2010.

The price of gold fell to a nearly two-month low as the dollar strengthened and Wall Street rallies, which reduced demand for the precious metal as an alternative investment.

The price of the gold closed at $ 1,219.2 per ounce, the lowest close since May 10, after a 1.9% drop on the New York Mercantile Exchange.

The US dollar posted its sharpest daily gain in two months against major world currencies on strong manufacturing data released today in the US.
The US currency went up by 0.6 percent against the Euro at $ 1.1361 per euro, and was climbing by 0.9 percent against the Japanese yen to 113.41 yen per dollar. Against the British pound, the US dollar was adding 0.7% to $ 1.2937 per pound.

Today there will be no trading in the USA on the occasion of the Fourth of July vacation.


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