The shared currency extended its gains against the Greenback on Wednesday, following the traders' optimism on the Greek bailout deal. The EUR/USD pair rose 0.97% at $1.1150 by 11:18 AM GMT, trading around one-moth high. The Euro was mainly supported by the agreement between Greece and its creditors on a new bailout deal, while ignoring risk-off sentiment coming from the
Wall Street was set to open sharply lower on Wednesday as the second devaluation of the Chinese national currency hurt exporters' shares. The DJIA futures declined 1.21%, while those for the S&P 500 slip 0.96%. Carmakers, technology companies, miners and luxury-goods makers are expected to post losses after the PBoC's devaluation move as China is one of their top export
Futures for oil rose, erasing the morning losses amid the weaker US Dollar and fresh inventory data ahead in the day. Crude prices sharply fell on Wednesday after the PBoC devalued the Yuan for a second day, deteriorating China's purchasing power for oil. However, oil prices recovered after the US Dollar lost its strength. WTI jumped 0.79% at $43.42, while
Equity markets in Europe moved lower on Wednesday as Chinese authorities continued with the Yuan devaluation, rising concerns over the growth outlook for the world's second largest economy. The pan-European Stoxx 600 index slumped 2%, the German DAX erased 2.12%, while the French CAC 40 lost 2.27%. Devaluation of Yuan scared many investors to move from risky equities into safe-haven
The data released on Wednesday showed that industrial production in China slowed down to 6% year-on-year in July, missing the estimated 6.6%. Moreover, the growth in retail sales slowed to 10.5% year-on-year. Meanwhile, weak production figures and the fall in the domestic retail sales in China triggered the PBoC for the further Yuan devaluation, in order to support economy and
The Australian Dollar extended its losses and hit 2009 low on Wednesday, as China devalued the national currency for the second day in a row. The AUD/USD pair was traded 0.11% lower at $0.7292 by 07:41 AM GMT. China is one of the biggest Australia's trading partners, while the Aussie has the largest exposure to the world's second biggest economy
The yellow metal prices rose on Wednesday, staying above the psychological barrier of $1,100, as the Chinese national currency continued to slip further. Gold gained 0.77% at $1,116.20 by 07:11 AM GMT. The PBoC devalued the Yuan for the second time this week, adding more pressure on currency markets and sparking interest in safe-haven assets, such as precious metals including
The ZEW survey showed that investors' confidence in Germany deteriorated again in August, despite the stable results in the German economy and successful negotiations between Greece and its lenders on the bailout deal. The ZEW index, one of the leading indicators of economic health, declined to 25.0 in August in Germany, compare to anticipated 31.9 points and the previous month
Equity markets in the US are expected to open in the red on Tuesday, led mainly by companies exporting their goods to China, where the PBoE decided to devaluate the Yuan. Futures for the DJIA declined 0.4%, while futures for the S&P 500 index dropped 0.6%. Chinese currency devaluation is expected to weight negatively on luxury good and auto sector
Crude oil futures slumped on Tuesday, pausing from Monday's rally, as China devalued the national currency, raising concerns on demand for oil in the second biggest economy. WTI futures slid 0.73% at $44.63 per barrel, while Brent futures fell 0.60% to $50.11 per barrel. The pressure on oil prices also came from the firmer Greenback and trader's cautious expectations of
Equity markets across Europe were in the red on Tuesday, as investors evaluated developments in China and Greece. The European benchmark Stoxx 600 slid 0.5% to 398 points, the FTSE 100 fell 0.5% to 6,700 points, while the German DAX 30 lost 0.8% to 11,507 points. Furthermore, the Spanish IBEX 35 declined 0.5% to 11,260 points, and the FTSE MIB
The yellow metal slipped on Tuesday, amid the strengthening Dollar, after the PBoC decided to depreciate the Renmibi. The bullion futures for December delivery fell 0.3% to $1,100.7 an ounce by 7:35 AM GMT. Appreciating Greenback means that the sentiment is bearish for dollar-denominated commodities. Holders of weaker Yuan will have less purchasing power of commodities therefore, it is likely
Greek officials and internationals lenders agreed on details of the new multi-billion-euro bailout deal on Tuesday after a 23-hour session of talks. The pact is estimated to be worth of 86 billion Euros, however there was no official confirmation of the bailout's size yet. Greek authorities said that they expect the agreement to be approved by parliament before the end
The Australian national currency slipped against the Dollar, after the Chinese government unexpectedly depreciated Renmibi. The Australian Dollar fell 1% to 0.7333 against the Greenback by 7:25 AM GMT. The Aussie suffered, since China is Australia's largest export partner, therefore a weaker Yuan means that the Chinese companies will have smaller purchasing power of Australian goods.
The People's Bank of China decision to devaluate the Yuan caused the global risk-off sentiment, boosting demand for safe-haven currencies - the US Dollar and the Japanese Yen. The shared currency dropped 0.32% against the US Dollar at $1.0975 by 07:06 AM GMT. Meanwhile, the PBoC devalued the nation's currency to its lowest rate versus the Greenback in three years
Currency of the world's second largest economy declined against the Greenback on Tuesday, after the PBoC devalued the Yuan. The Dollar soared 1.9% to 6.3299 against the Yuan by 7:15 AM GMT. The move came after the Chinese exports fell by 8.3% in July, on a year-over-year basis. The Chinese government has become worried over the slowing economy, therefore, a
The Australian Dollar extended its depreciation against the Greenback on Monday amid falling prices of commodities and disappointing economic data from China. The Aussie dropped 0.78% at $0.7360 by 10:27 AM GMT. The main pressure on the Australian currency came from the downturn in commodities, with aluminium and copper hovering around multi-month lows and oil prices continued to slide.
The Dollar rose against the Japanese counterpart on Monday, after traders saw an opportunity from a dip on Friday. The Greenback jumped 0.45% to 124.73 against the Yen by 10:30 AM GMT. Investors bought into the dip after US payrolls reported that 215,000 jobs were added in July, compared to 225,000 expected by market participants. Moreover, Japan's current account shrank
The Canadian Dollar continued to decline against its American counterpart on Monday, approaching to lows reached after positive July's payrolls data in the US last Friday. The USD/CAD pair rose 0.31% at $1.3174 by 09:58 AM GMT. With no data eyed in Canada, traders will focus attention on the Fed's index of labour market conditions, as well as on speeches
Futures of the major US stock indices climbed ahead of the opening bell on Monday, as the Dow Jones Industrial Average eye to break a seven trading session losing streak. The futures of Dow Jones rose 0.2% to 17,356 points, the S&P futures gained 0.3% to 2,079.5 points, while the NASDAQ 100 Index advanced 0.3% to 4,533.25 points by 10:00
The New Zealand Dollar declined against the US counterpart, as traders sold of the pair after Friday's rally. The Kiwi slumped 0.8% to 0.6569 against the Greenback by 9:45 AM GMT. The Dollar bounced back against the Kiwi after it was reported that 215,000 new jobs were added in July and the June's figure was revised higher to 231,000. Thus,
Equity indices across Europe erased its early session gains, as news from large companies' shook up stock markets. The Stoxx 600 fell 0.5% to 395 points, the FTSE 100 declined 0.8% to 6,663 points, while the DAX 30 lost 0.3% to 11,458 points. Furthermore, the Spanish IBEX 35 gave up 0.2% to 11,157 points, however, the Italian FTSE MIB gained
Japan's current surplus saw a decline in June, as domestic investors saw a drop in returns from overseas. The broad gauge of trade decreased to 558.6 billion yen in June, from 1.88 trillion in May. The significant drop in the surplus was primarily caused by income surplus, which fell to 656.9 billion yen from 2.01 trillion yen in May. However,
Equities in Europe opened in green amid more optimism over a new Greece bailout deal and disappointing economic data from China. The Britain's FTSE 300 rose 0.3%, both, French CAC 40 and German DAX were up 0.5%, while the pan-European Stoxx 600 index remained almost flat. European stocks recovered from the slight downturn after the US jobs data boosted expectations of