Oil rises as US sanctions Venezuela
Oil futures rose in American trade to near 3-1/5 year highs as the dollar index fell off December 13 highs for another session, following earlier data from China, the world's largest energy importer, and the US, and after President Donald Trump imposed additional sanctions on Venezuela.
As of 05:14 GMT, US crude futures due on June 15 rose 0.15% to $72.35 a barrel from the opening of $72.24, marking November 27, 2014, while Brent futures due on July 15 climbed 0.61% to $79.70 a barrel from the opening of $79.22, as the dollar index inched down 0.12% to 93.56 from the opening of 93.68.
From the US, the Richmond Manufacturing Index rose to 16 in May from 3 in April, beating expectations of 9.
Now markets await the Federal Open Market Committee's minutes for the May meeting, at which policymakers voted to stay overnight interest rates unchanged at below 1.75%.
Later this week, Federal Reserve Chair Jerome Powell will participate in a panel discussion titled "The future of central banking?" at the Sveriges Riksbank Anniversary Conference, in Stockholm.
The US announced new sanctions on Venezuela that would make it harder for the government to sell assets, after President Nicholas Maduro was reelected in what Washington described as a sham election.
US Vice President Mike Pence said the presidential elections in Venezuela weren't free nor fair, and deals a "further blow to the proud democratic tradition of Venezuela".
Venezuelan oil output is already down nearly one million bpd to 1.5 million bpd due to political and economic turmoil, from 2.5 million bpd in early 2016.
The US has also hardened its position with Iran, with sanctions expected to cut Iranian crude exports and bolster prices firmly towards $80.
US output rose to a record high at 10.72 million bpd, nearing Russia's highest levels at 11 million bpd.
Baker Hughes, an oil services company, reported no change in the US oil rig count at 844 rigs, already the highest since March 2015.
Sterling settles higher after Carney's Parliament testimony
Sterling tilted higher in American trade away from December 27 lows against the dollar, following earlier data from Britain and the US.
As of 04:39 GMT, GBP/USD rose 0.05% to 1.3434 from the opening of 1.3427, with an intraday high at 1.3492, and a low at 1.3413.
Earlier UK data showed net public borrowing actually fell by 6.2 billion pounds, compared to a 0.8 billion increase in the previous reading, before the British Parliament heard Bank of England Mark Carney's testimony earlier today.
Carney said he will leave his post after his current term ends in June, with several candidates lining up to succeed him, such as BoE members Andy Haldin, John Cunliffe, Ben Broadbent and others.
From the US, the Richmond Manufacturing Index rose to 16 in May from 3 in April, beating expectations of 9.
Now markets await the Federal Open Market Committee's minutes for the May meeting, at which policymakers voted to stay overnight interest rates unchanged at below 1.75%.
BoE Governor Mark Carny is scheduled to speak on Thursday at the Society of Professional Economists' annual dinner, in London.
Euro settles near six-month nadir against dollar
Euro tilted lower in American trade to near November 21 lows against the dollar, following earlier data from the euro zone and the US.
As of 03:21 GMT, EUR/USD inched down 0.11% to 1.1778 from the opening of 1.1791, with an intraday low at 1.1757, and a high at 1.1830.
Earlier from Germany, the Deutsche Bundesbank released its monthly economic report, while the German economy minister called for more communication between the US and EU in order to reach a trade deal before tariffs are imposed on European steel and aluminum.
European Commissioner for Trade Cecilia Malmström has called on the US to remove their planned tariffs on steel and aluminum imports, asserting the importance of respecting the current trade flows between the two sides in taking any tariff decision.
The European Central Bank is slated to release the minutes of its April 26 meeting on Thursday, at which policymakers voted to hold the minimum bid rate at zero and the deposit rate at minus 0.4%, while maintaining the monetary easing program unchanged at 30 billion euros a month until September.
From the US, the Richmond Manufacturing Index rose to 16 in May from 3 in April, beating expectations of 9.
Now markets await the Federal Open Market Committee's minutes for the May meeting, at which policymakers voted to stay overnight interest rates unchanged at below 1.75%.
Wall Street opens mostly higher
US stock indices opened the first session of the week mixed after a spate of data from the world's largest economy, which showed gains in the Richmond Manufacturing Index, while the earnings season for major American banks and corporations draws to an end.
US and China are in the latest stages of trade negotiations to remove hefty sanctions on giant Chinese telecommunication company ZTE.
China on the other hand cut car tariffs and signaled readiness to remove tariffs on US agricultural products, soothing concerns in the market about the US-China trade dispute.
As of 02:44 GMT, Standard and Poor's 500 rose 0.11%, or 3.09 points to 2,736.10, while Dow Jones fell 0.15%, or 37.97 points to 24,975.32.
Tech-heavy NASDAQ rose 0.10%, or 7.08 points to 7,401.11.