• MTS Economic News_20170508

    8 May 2017 | Economic News


• The euro rose to as high as $1.1024 EUR=, its highest in about six months, before stepping back to $1.0984, 0.1 percent below late U.S. levels last week.

• China's exports and imports rose in April but missed analysts' expectations, as domestic and foreign demand faltered and commodity prices fell.

China's April exports rose 8.0 percent from a year earlier, missing analysts' expectations, while imports expanded 11.9 percent, official data showed on Monday.

• North Korea said on Sunday it has detained another U.S. citizen on suspicion of "hostile acts" against the state, which would make him the fourth American to be held by the isolated country amid heightened diplomatic tensions with Washington.

Kim Hak Song, who worked for the Pyongyang University of Science and Technology, was detained on Saturday, the North's KCNA news agency said.

"The security of U.S. citizens is one of the department's highest priorities. When a U.S. citizen is reported to be detained in North Korea, we work with the Swedish embassy in Pyongyang," a State Department official said in an emailed statement, declining to provide further details for privacy reasons.

• Oil prices rose on Monday as Saudi Arabia's energy minister said an OPEC-led production cut scheduled to end in June would likely be extended to cover all of the year, or even into 2018, although another increase in U.S. drilling capped gains.

Brent crude futures LCOc1 were at $49.48 per barrel at 0652 GMT, up 38 cents, or 0.75 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $46.52 per barrel, up 30 cents, or 0.7 percent.


Reference: Reuters
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