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US oil drilling rigs count rises this week

Economies.com
2021-05-07 18:14PM UTC

Baker Hughes Co. reported today that the number of US oil rigs rose by 2 to 344 rigs this week.

 

The number of natural gas rigs rose by 7 to 103 rigs, with the total number of natural gas and oil rising by 9 to 447 rigs.

 

 

Dollar deepens losses after US monthly jobs report

Economies.com
2021-05-07 19:53PM UTC

The US dollar slumped against its peers on Friday, after the release of a disappointing monthly jobs report.

 

Data showed that the US economy has added 266,000 jobs during April, worse than forecasts of 990,000 jobs.

 

The US unemployment rate rose to 6.1% in April from 6% in March, while analysts forecast a drop to 5.8%.

 

Chinese data showed today that the country's service PMI rose to 56.3 points in April, beating forecasts of 54.2 points.

 

The Chinese trade balance recorded a surplus of 277 billion yuan, better than forecasts of 130 billion yuan.

 

The dollar index fell against a basket of currencies by 0.8% to 90.2 points as of 19:42 GMT, after it hit a high of 90.9 points and a low of 90.2 points.

Gold closes higher, scores weekly gain

Economies.com
2021-05-07 19:58PM UTC

Gold prices rose on Friday, as the US dollar slumped against its peers after the US monthly jobs report.

 

Data showed that the US economy has added 266,000 jobs during April, worse than forecasts of 990,000 jobs.

 

The US unemployment rate rose to 6.1% in April from 6% in March, while analysts forecast a drop to 5.8%.

 

US President Joe Biden said after the data that economy is on the right track despite a vastly disappointing monthly jobs 

 

The dollar index fell against a basket of currencies by 0.8% to 90.2 points as of 19:46 GMT, after it hit a high of 90.9 points and a low of 90.2 points.

 

Gold June futures rose 0.9% or $15.60 to $1,820.1 an ounce, and closed at the highest level since February 10 at $1,831.30 an ounce, with a weekly gain of 3.6%.

Canada loses over 200,000 jobs in April

Economies.com
2021-05-07 13:07PM UTC

The Canadian Department of Labour revealed adding more than expected jobs were lost during April, and unemployment rose.

 

Data showed that the Canadian economy has lost 207,100 jobs during April, after adding 303,100 jobs in March, and worse than forecasts of losing 160,000 jobs.

 

The unemployment rate rose to 8.1% in April from 7.5% in March, while analysts forecast a rise to 7.8%.