Oil gains as bullish bets on rising prices hit record high
LONDON Oil prices rose on Monday as investors showed record confidence in prices rising further, though gains were capped by the prospect of faster growth in U.S. oil production.
BEIJING It is not wise for the United States to point its finger at the yuan's exchange rate and demand appreciation, the Chinese foreign ministry said on Tuesday.
In a statement on its website, the ministry said that the United States should focus on its own economic recovery and work to maintain stability of its own currency.
The statement added that expectations for yuan appreciation were not strong, and that a stronger currency would do little to resolve the Sino-U.S. bilateral trade imbalance.
The yuan has rallied for nine straight days amid strong criticism from the United States about China's currency policy.
(Reporting by Kevin Yao and Aileen Wang; Writing by Simon Rabinovitch; Editing by Benjamin Kang Lim)
WASHINGTON Contracts to buy previously owned U.S. homes dropped in January on a shortage of inventory in the Midwest and West regions, the National Association of Realtors said on Monday.
WASHINGTON U.S. President Donald Trump said on Monday he is seeking a "historic increase" in military spending to be funded by cuts elsewhere in government.