Despite the 11 year highest daily exchange rate fix by the PBoC, the Chinese Yuan fell 0.06% onshore to trade at 6.4795 against the US Dollar after opening, staying in the bounds of the daily guidance restriction of 2%. The 0.6% increase in the daily fixing did not, however, hinder the Hong-Kong traded equivalent to meet the 6.4837 Yuan mark, which
The Hang Seng index traded lower on Friday, reflecting the trend of Hong Kong markets. While the Japanese market was closed for a public holiday, other Asian indices were mixed. The Shanghai Composite Index traded 0.1% lower at 2 945.34 points at 6:00 GMT and the Hang Seng index dropped by 1.2% and showed 21 122.75 points at 6:00 GMT,
The Euro traded expensively against the Dollar, hovering just beneath the $1.14 mark, as investors await US macro data announcement later on Friday. Releases on personal spending, income as well as the employment cost and PCE indices may later give a grasp of the potential inflation levels. The consumer confidence gauge is expected to slightly pick up, while it is
Bullion futures continued their rise on Friday as the Dollar lost its value, following the Fed's verdict to leave interest rates unchanged at 0.5%. Futures surged 0.9% to show $1,277.70 per ounce at 4:30 GMT while the Dollar index dropped by 0.4%. The spot price for bullion is on track to a 2.7% weekly gain and has jumped 3.4% for
The Personal Consumption Expenditure Price Index grew 0.3% during the first three months, following a 0.3% increase registered in the Q4 2015 and surpassing economists' 0.2% forecast. The PCE Index eliminating food as well as energy rose 2.1% in the Q1 2016, whereas analysts expected a 1.9% hike, after a 1.3% improvement seen in the Q4 2015.
Germany's Consumer Price Index jumped 0.1% year-over-year in April, following the 0.3% inflation rate seen in the previous month and falling behind the 0.2% forecast. Meanwhile, the country's monthly inflation gauge showed a negative 0.2% reading, compared to the 0.8% hike reported in the third month of the year.
US stock markets opened Thursday's trading session lower, following the Bank of Japan's decision to keep its monetary policy steady. The Dow Jones Industrial Average Index lost around 0.2%, trading at 18,010.39, whereas the S&P 500 Index dropped 0.2% and the Nasdaq Composite Index lost 0.1%, trading at 2,091.84 and 4,857.65 points respectively.
The number of filings for unemployment benefits declined by 9,000 to 257,000 in the week ended April 23, following the previous week's revised up 248,000. Analysts forecasted jobless claims to grow by 12,000 to 260,000. It was the 59th consecutive week that jobless claims remained below the 300,000 mark, indicating a strong labour market.
On Wednesday, the Energy Information Administration's weekly report revealed that crude oil inventories in the US increased by 2.0 million in the period ended April 22, following a 2.1 million increase seen in the previous seven days and surpassing analysts' forecasts for a 1.4 million gain.
Wednesday's data showed that the Pending Home Sales Index in the United States jumped 1.4% to 110.5 in the third month of the year, touching its 10-month high and following February's revised down 3.4% gain. Moreover, the Index rose 2.9% on an annual basis, according to the National Association of Realtors.
The US monthly international trade deficit decreased to $56.9 billion in the third month of the year, according to the latest data released by the US Department of Commerce on Wednesday. Until today, analysts expected to see the $62.8 shortfall after February's $63.4 billion reading.
The level of unemployment plunged by 1.7%, reaching the lowest level since the dot com bubble in 2000, however, it is likely that this indicator does not legitimately reflect the employment status of the country. The sharp increase in the partially employed as well as a surge in the average unemployment time displays no positive trend in unemployment and that the slip is likely due
The Pound surged against the US Dollar to show $1.46 in advance of the quarterly UK GDP data release. Expectations show a 0.2% drop in GDP growth from the first quarter and divergence between the expected and actual number is likely to heighten volatility. While blame of a slowdown is put on the Brexit talks, the polls show that the public is leaning towards remaining
The Euro has been trading steadily against the US Dollar at $1.13, however, volatility is bound to increase as the verdict on fed funds is announced on Wednesday afternoon. Although the rate is likely to remain at 0.5%, the dovish sentiment following the poor performance of the US economy during the first quarter may put more downward pressure on the Dollar.
Oil prices reached their 2016 high on Wednesday as the US crude inventories took a plunge. A 0.95% rise in WTI led crude futures to climb as high as $44.46 at 5:00 GMT per barrel as Brent futures rallied 1.07% and traded at $46.23 at 5:00 GMT. During the session, both indices showed their 2016 highs as WTI reached $44.83 per barrel while Brent
The CPI sank to 0.2% in March, presenting the first inflation drop in seven years that caused the Australian Dollar to lose its value against the US Dollar. The Australian Dollar was trading at $0.7765 before the announcement, surging by 1.50% to $0.7630 after the news came out. The drop in the CPI is an indicator for a potential interest rate cut to sustain
According to the latest data released by the Federal Housing Finance Agency on Thursday, the House Price index showed a 0.4% reading on a seasonally adjusted basis in the second month of the year, following the previous month's revised down 0.4% result and meeting economists' forecasts.
The Mid Atlantic region's manufacturing activity significantly fell, compared to the previous month. The Philadelphia Fed Manufacturing Index dropped to a negative 1.6 reading in the fourth month of the year from a positive 12.4 seen in March, its highest level since June 2015. Until today, analysts expected the Index to show an 8.9 result in April.
On Thursday, the Department of Labor released its fresh figures for the week ended April 16. The number of people who applied for unemployment benefits dropped to 247,000, reaching its lowest level since November 1973 and exceeding analysts' forecast of an increase to 263,000 from 253,000 filings registered in the previous seven days.
The European Central Bank decided Thursday to keep its interest rates at current or even lower levels and proceed with its current QE plan, until the inflation rate improves. Moreover, Mario Draghi, President of the ECB, highlighted economic slowdown in emerging markets, a relatively meagre public investment and the need for structural reforms.
On Wednesday, the Energy Information Administration's weekly report revealed that crude oil inventories in the US increased by 2.1 million in the period ended April 15, following a 6.6 million surge seen in the previous seven days. The results exceeded analysts' forecasts for a 2.4 million barrels rise.
Sales of existing homes in the US improved in March after a February fall. The National Association of Realtors reported on Wednesday that US home sales grew 5.1% to 5.33 million in the previous month, following February's 7.3% drop to 5.07 million and surpassing analysts' forecast of a rise to 5.30 million sales.
Britain's Office for National Statistics announced that the unemployment rate remained unchanged at 5.1% in the three months to February, while the number of jobless claims unexpectedly grew 6,700 in March, compared to analysts' expectations of a 11,300 fall, and following a revised 9,300 drop posted in February.
Europe's largest stock markets closed Tuesday's trading session higher. The Euro Stoxx 600 Index gained 1.4%, with all sectors in the green zone. Britain's FTSE 100 Index added 0.8%, helped by a rally in UK-listed mining shares. France's CAC Index increased 1.2%, whereas Germany's DAX Index rose 2.2% after the ZEW released its promising Investor Confidence Index for April.