Oil trims gains, Brent slips
Oil prices fell Friday, as the US dollar strengthened its rally against most major currencies, as optimism that followed the signing of the US-China trade pact waned, which was responsible for upbeat forecasts for oil demand.
The oil field services company, Baker Hughes, revealed today that the number of oil drilling rigs in the US rose by about 14 to 673 rigs this week.
The dollar index rose against a basket of major currencies by 0.3% to 97.6 points as of 18:13 GMT, after hitting a day high of 97.6 and a low of 97.2.
West Texas Intermediate crude rose by 0.3% to $58.3 a barrel as of 18:07 GMT, with a high of $58.9 and a low of $58.2.
Brent crude fell 0.1% to $64.5, a high of $65.1 and a low of $64.4.
Pound resumes slide as investors parse Carney's remarks
Sterling fell today against most major currencies, as investors reassess the governor of the BoE Mark Carney's comments, which sparked concerns about the British economy.
The British government led by PM Boris Johnson is preparing to implement the Brexit by January 31, which will be followed by a transitional period until December 31.
Governor of the Bank of England, Mark Carney, hinted a potential rate cut and a quantitative easing in the near-term to stimulate the slowing economic growth in the UK.
The World Economic Forum will launch in Davos, Switzerland next week, in the presence of hundreds of high-level personales from various countries, including company CEO's, bankers, billionaires and politicians, including US President Trump.
GBP/USD rose by 0.5% to 1.3018 as of 20:14 GMT, and hit a high of 1.3116 and a low of 1.3013.
Dollar rises on continued trade deal optimism
The US dollar rose against most currencies on Friday, to snap a 2-day rally amid a thaw in global markets after the US and China signed the Phase-One trade deal.
The US Vice President, Mike Pence, announced the launch of the trade talks for the Phase-Tow of the trade pact with Beijing.
Data showed today that housing starts and building permits in the US housing market rose in December.
The market will eye President Trump's impeachment trial before the US Senate next week.
Democrats in the House of Representatives voted on accusing President Trump of misusing his powers obstructing the US Congress, which may lead to his removal.
The dollar index rose against a basket of major currencies by 0.3% to 97.6 points as of 19:09 GMT, after hitting a day high of 97.6 and a low of 97.2.