OIL: Crude steady above $81, near two-month high
TOKYO, Oct 4 (Reuters) - U.S. crude futures stood steady above $81, near their highest levels in almost two months on Monday, helped as the dollar stayed near a six-month low against the euro.
The contract rose as high as $81.87 on Monday, the highest since $82.67 hit on Aug. 6. Oil rose 6.7 percent last week, its best weekly gain since prices rose 7.7 percent in the week to Feb. 19 as the dollar slumped and China posted strong economic data.
COMMODITY MARKETS: Huge selloff in agriculture overshadows oil, gold
NEW YORK, Oct 1 (Reuters) - Fear of high corn stockpiles and uncertainties in the outlook for sugar and cotton sparked a massive sell-off in agricultural markets on Friday, overshadowing the rally in energy and metals.
"I'm sure that the market had outstripped its fundamentals," Keith Brown, a cotton broker in Moultrie, Georgia, said after U.S. cotton futures plunged about 4 percent from 15-year highs. "(Speculators) carried us up ... now, they are feeding upon themselves like piranha trying to get out faster than the next guy."
GLOBAL MARKETS: Dollar slumps, stocks up on Fed speculation
NEW YORK, Oct 1 (Reuters) - The dollar hit a six-month low versus the euro but global stocks edged higher on Friday after Federal Reserve officials said more must be done to lift the slow-growing U.S. economy.
"We have had some good news today, especially from China, that prompted a rally in Europe and was carried through the U.S.," said Stephen Massocca, managing director at Wedbush Morgan in San Francisco, referring to equity markets.
U.S. data supports modest 3rd-quarter growth hopes
WASHINGTON, Sept 30 (Reuters) - New U.S. claims for jobless aid fell last week, while manufacturing in the nation's Midwest region grew faster than expected in September, supporting the view that economic activity picked up a bit in the third quarter.
Another report on Thursday showed consumer spending was slightly stronger than expected in the April-June period, causing the government to revise up its second-quarter growth estimate to a 1.7 percent annualized pace from 1.6 percent.
PRECIOUS-Gold at record for sixth day; U.S. policy in focus
LONDON, Oct 1 (Reuters) - Gold hit record highs for a sixth successive session on Friday as the dollar fell to a six-month low against the euro, with expectations for further U.S. monetary easing driving strong demand for the precious metal.
Spot gold touched a peak of $1,317.10 and was bid at $1,315.65 an ounce at 1013 GMT, against $1,305.25 late in New York on Thursday. U.S. gold futures for December delivery rose $8.20 to $1,317.80.
FOREX-Dollar index hits 8-mth low as ISM seen weak
LONDON, Oct 1 (Reuters) - The dollar sank to an eight-month low against a currency basket on Friday as investors took speculation U.S. manufacturing due later in the day would be weak as a chance to sell the greenback.
The dollar hit its weakest against the euro since March on the view that it will face more losses if the Federal Reserve eases monetary policy further to support the economy.
Dlr falls before ISM; world stocks up on China
LONDON, Oct 1 (Reuters) - The dollar fell to an 8-month low against a basket of currencies as traders bet a U.S. manufacturing index later in the session would be weak, while world stocks were mostly firm due to upbeat Chinese data.
"The market clearly anticipates more quantitative easing from the Fed, just look at the dollar," said Philippe De Vandiere, analyst at IG Markets in Paris.
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