Economic Buzz: US Pending Home Sales Rise In May

US pending home sales rose in the month of May, according to a report released by the National Association of Realtors on Thursday, with pending sales rebounding after showing a steep drop in the previous month. NAR said its pending home sales index surged up by 1.1 percent to 105.4 in May after tumbling by […]

Economic Buzz: US Weekly Jobless Claims Rise To 227,000

US initial jobless claims rose to 227,000, an increase of 10,000 from the previous weeks revised level of 217,000, the Labor Department reported on Thursday. The Labor Department also said the less volatile four-week moving average crept up to 221,250, an increase of 2,250 from the previous weeks revised average of 219,000. Continuing claims, a […]

Crude oil futures soften on weak global cues

New Delhi: Crude oil futures declined sharply by 0.61 per cent to Rs 4,089 per barrel on Friday as speculators cut bets to take profits off the table amid weak global cues. On the Multi Commodity Exchange, crude oil for delivery in July contracts fell by Rs 25, or 0.61 per cent, to Rs 4,089 […]

Economic Buzz: Japan Industrial Output Climbs 2.3% On Month In May

Japan industrial production climbed a seasonally adjusted 2.3 percent on month in May, the Ministry of Economy, Trade and Industry said in Fridays preliminary reading, following the 0.6 percent gain in April. On a yearly basis, industrial production sank 1.8 percent following the 1.1 percent drop in the previous month. Upon the release of the […]

Commodities Buzz: Excelsior Mining Corp On Schedule For First Copper Production In Q4 2019

Excelsior Mining Corp has confirmed that excavation under the I-10 Highway has been completed; thereby, allowing for the pipeline corridor to be connected from the production wellfield to the Johnson Camp Mine (JCM) processing facilities. Excelsior remains on schedule for first copper production in Q4 2019. Construction of a two-mile pipeline corridor connecting the JCM […]

Opec keen to extend cut, Russia is circumspect: Reality check

By Christopher Sell For an Opec+ meeting in which the key decision over an output-cut extension is supposedly “in the bag,” according to Saudi Arabia’s Energy Minister Khalid Al-Falih, Monday’s gathering in Vienna could be as closely watched as any during the three-year coalition. The Organization of Petroleum Exporting Countries and its allies convene next […]