Crude futures extend losses on Monday, as a global supply glut, the stronger US Dollar weighed on a poor outlook for the commodity. Futures for WTI fell 1.43% to $45.39, while contracts for Brent crude dropped 1.30% to $48.97 by 10:53 AM GMT. The trading volume may be thin on Monday due to the celebration of the Labour Day holiday
The Pound advanced against the Greenback on Monday, recovering from a four-month low. However, today's trading is expected to be in a narrow range due to a lack of fundamentals and the US Labour Day holiday. The Cable was trading 0.42% higher at $1.5230 by 08:27 AM GMT, after falling to a fresh four-month low at $1.5156 at the end
European equity markets jumped on Monday, ignoring the high volatility in Asian stocks and worries over Chinese economy. Germany's DAX index increased 1.13%, the UK's FTSE 100 index rallied 1.09%, while the French CAC gained 1.18%. The pan-European Stoxx 50 index added 1.12%. Among main gainers were shares of commodity trader Glencore, which soared by 12% after company unveiled its
The New Zealand Dollar slipped against the Greenback on Monday, as the US labour data release on Friday showed basically positive results and put more pressure on commodity currencies, even though the US payrolls missed estimates. The NZD/USD pair was traded 0.24% lower at $0.6271 by 07:40 AM GMT. Meanwhile, the Fed's rate hike prospects in September remains on the
Equity markets in Asia turned mostly lower amid choppy trade on Monday, as nervousness among investors prevailed following the concerns over the health of Chinese economy. The Shanghai Composite Index slumped 2.52% after news that the economy in China grew less last year than the market initially thought. Elsewhere, Hong Kong's Hang Seng slipped 0.42%, the Japanese Nikkei advanced 0.38%,
The shared currency edged slightly higher versus the US Dollar on Friday, as market participants are waiting for the US labour data due today. The EUR/USD pair added 0.14% to $1.1137 by 10:11 AM GMT, after reaching session high at $1.1160. Meanwhile, job gains for August in the US are anticipated to stay near the prior month's levels of 215,000,
European markets decreased on Friday as investors turned their attention to the US unemployment data and non-farm payrolls. London's FTSE 100 contracted 1.66% to 6,091.56, French CAC 40 decreased 1.82% to 4,569.29, while German DAX slipped 1.78% to 10,133.84 by 9:40 AM GMT on Friday.
Stocks in Asia declined on Friday, as investors are cautious ahead of the US nonfarm payrolls report that may play a crucial role in the Fed's decision about the timing of the rate hike. The Shanghai Composite Index slipped 0.37%, while Hong Kong's Hang Seng lost 0.45%. In Japan, the Nikkei index plunged 2.15%, reaching its lowest since February. Meanwhile,
Factory orders in the Euro zone's biggest economy plunged in July, witnessing a bigger than expected fall, as the official report revealed on Friday. German industrial orders fell 1.4% in the seventh moth of the year, while economists expected the a 0.6% decrease. In the previous month the revised gauge rose 1.8%. On a yearly basis, the number of orders
Crude futures were traded lower on Friday, as traders wait for the key US jobs data later in the day that could influence the Greenback, as well as commodity prices. Futures for WTI declined 2.15% to $45.92, while Brent futures dropped 2.01% to $49.83 by 07:18 AM GMT. After another week of high volatility, both benchmarks are likely to end
The ECB Governing Council made no changes in interest rates for ninth consecutive meeting on Thursday. Refinancing rate was left at the record low of 0.05% and the overnight deposit rate stayed at negative 0.20%, while the marginal lending rate remained at 0.30%. Moreover, attention moved to Mario Draghi's press conference that will take place later in the session.
The growth in the UK services sector surprisingly slowed its pace in August, as the PMI reading showed on Thursday. The index of activity declined to 55.6 in August, down from the print of 57.4 points in July, missing the estimates of 57.6 points. Meanwhile, the recent slowdown in manufacturing and services sectors in the UK could weigh on the
European stock markets surged on Thursday amid ECB meeting later in the session. London's FTSE 100 advanced 1.81% to 6,193.43, French CAC 40 gained 1.53% to 4,624.51, while German DAX soared 1.78% to 10,226.79 by 9:00 AM GMT on Thursday. Additionally, Chinese markets were closed for a two-day national holiday after a turmoil in the markets in a recent weeks.
The Sterling dipped below the $1.53 mark as weaker than expected UK's fundamentals were released this week. The Cable retreated 0.19% to $1.5262 by 8:05 AM GMT on Thursday, falling from its daily high of $1.5312. Moreover, great focus this session is on the UK's PMI for services, the main driver of the UK's economy, which is predicted to be
The Australian Dollar depreciated versus its US peer on Thursday, as an abrupt slide in the country's retail sales brought speculations about the possible interest rate cut by the RBA back on the table. Official data showed that retail sales plummeted 0.1% in July, following a jump to revised 0.6% in the preceding month, dragging the AUD/USD currency pair down
Non-farm productivity of US workers increased more than it was estimated in the second quarter of this year amid an improvement in GDP and advance in working hours. The data, released on Wednesday, showed that the productivity climbed 3.3% in Q2, while market estimated a 2.9% climb. Additionally, the output of employees added 4.7%, while they spent 1.4% more hours
The Greenback kicked higher versus the Yen as investors encouraged risk taking on Wednesday after disappointing Chinese PMI data, released in the previous day, drove traders into the safety of the Yen. The US Dollar climbed 0.68% to 120.15 against the Yen by 7:50 AM GMT on Wednesday, trading as low as 119.22 earlier in the day.
European stock markets grew on Wednesday, partly erasing the losses booked in the previous session, although investors still remain worried over the global economic outlook. Germany's DAX advanced 0.64%, while the UK's FTSE 100 index added 0.35%. Among the other indices, the French CAC 40 index rose 0.61%, while the pan-European Stoxx 50 gained 0.56%. Meanwhile, the high volatility persists
The trading session in Asia was volatile on Wednesday amid persisting worries over the health of China's economy. The Shanghai Composite Index slipped 0.2%, while the smaller Shenzhen Composite closed down 2%. Elsewhere, the Australian S&P ASX was flat after weak GDP data, adding 0.1%, the Japanese Nikkei fell 0.39%, while South Korea's Kospi edged 0.05% higher and Hong Kong's
Crude futures slid on Wednesday, following a stronger than expected build in the US oil stockpiles and weaker manufacturing data from both China and the US, which fuelled a further decline in prices. Futures for WTI dropped 1.87% to $44.54 per barrel, while Brent futures slumped 1.47% to $48.81 per barrel by 07:20 AM GMT. Meanwhile, the latest weekly US
The Australian Dollar erased early gains against its US counterpart on Tuesday, as worries over the Chinese economy continue to weigh on the Australian economy. The AUD/USD pair was traded 0.71% lower at $0.7059 by 13:21 PM GMT, after erasing the RBA-led gains amid risk-off sentiment on the market. Earlier today the RBA decided to leave the interest rate unchanged
Canada's GDP contracted in Q2 of this year, making it the second consecutive shrinking in a row. GDP in Canada shrunk 0.5% in Q2, while previous quarter's drop of 0.6% was revised down to a 0.8% decline. Despite the negative growth, the second quarter's decline is better than estimated 1% contraction. Additionally, GDP for June climbed 0.5%, the fastest growth
The Greenback fell against the Yen on Tuesday as weak Chinese data was released earlier in the session, turning investors to look for safety of the Japanese currency. The US Dollar slipped 1.09% to 119.91 against the Yen by 11:25 AM GMT on Tuesday, seen as low as 119.53 earlier in the day, breaching the 120.00 mark.
Stocks in the US were set to open lower on Tuesday, as investors are worried over factory contraction in China and the concerns about growth of global economy. Futures for the Standard & Poor's 500 index dropped 1.97% in the first day of September after the index posted losses of 6.47% in August. Futures for the Nasdaq dived 2.2%, while