In spite of a decline in US drilling operations for the fourth week in a row, crude oil prices slid lower, with weak economic outlook being one of the main drivers for it. China's industrial profits fell 8.8% in August from a year ago, while industry profits decreased 1.9% from January to August. Futures for Brent dropped $0.47 to trade
The Euro weakened against the US Dollar after Janet Yellen's comment that the Federal Reserve may start its rate hike already this year. As a result, the European currency dropped to present lows of $1.1155 down from the prior $1.1230. During the previous week the policy-setting committee made up its mind to keep interest rates unchanged due to the latest market volatility
Gold prices dropped in Asia, following Federal Reserve Chair Janet Yellen's speech yesterday. She underlined a very likely increase in interest rates by the end of this year, which, in turn, would give a boost to the Greenback. Gold futures for December delivery tumbled 0.4% to trade at $1,149 per troy ounce, whereas December future contracts for silver slid 0.35%
Gold prices slid 1%, while the Greenback recovered amid revived expectations regarding the Fed's interest rate hike for the first time over the last ten years. Gold futures tumbled 0.7% to $1,125.22 per ounce. The biggest fall amongst precious metals was made by platinum, which dropped 3.4% to $932.75 per ounce, after its lowest decline since January 2009 to $929.50.
Stock markets in Europe rose on Wednesday in the choppy trading session amid renewed fears over the health of the Chinese economy. The positive PMI data for France was among the factors which boosted the investor's mood. Germany's DAX 30 index added 1.22%, while the UK's FTSE 100 index gained 1.33%. Among the other indices, the French CAC 40 index
The Japanese Yen consolidated on the downside shortly after the European open on Wednesday, as the US Dollar bulls took control. The USD/JPY pair edged 0.13% higher to ¥120.26 by 08:22 AM GMT. Earlier in the session, the Yen was buoyed by weak Chinese manufacturing data. Meanwhile, analysts say that concerns over China could trigger another wave of risk aversion
Both Australian and New Zealand's currencies experienced their biggest three-day slip over a month due to a sudden fall in Chinese manufacturing data, raising concern about the economy's state. The Aussie slid 0.9% to $0.7025, whereas the Kiwi fell 0.6% to $0.6257. In contrast to that, the Japanese Yen stepped up by 0.4% to 119.74 per US Dollar and by
Equity markets slid deeper into the red on Wednesday after a factory gauge in China shrank more than expected, adding to worries over slowdown in the world's second biggest economy. The PMI measure fell from 47.3 in August to a preliminary 47.0 in September. The Shanghai Composite slumped 2.16%, while Hong Kong's benchmark Hang Seng dropped 2.33%. Elsewhere, the Australian
Due to an abrupt decline in consumer spending along with investment, the Eurozone's second biggest economy did not make any progress in terms of GDP growth in Q2. More precisely, the French economic output booked a growth of 0% in Q2 on a quarterly basis, just after it posted a 0.7% growth in Q1 of 2015. Consumer spending remained static
Crude futures recovered from early losses after weak Chinese manufacturing data on Wednesday, following the decrease in the US oil reserves. Futures for WTI rose 0.93% to trade at $46.79 per barrel, while Brent futures were traded 0.55% higher at $49.36 per barrel by 07:28 AM GMT. Meanwhile, crude stockpiles in the US fell by 3.7 million barrels in the
After an increase of 3-4% in the prior session, oil prices dropped again. Futures for WTI fell $0.64 to trade at $46.04 a barrel, whereas Brent futures were down $0.48 trading at $48.44 a barrel. According to analysts, such a fall in prices was driven by a weak outlook of the economy and a continuing oversupply of oil. Goldman Sachs
Switzerland's trade surplus declined considerably in August, as the strength of the Swiss Franc weighed on exports, official data revealed on Tuesday. The trade surplus fell to ₣2.87 billion in the reported month from ₣3.58 billion in July. Analysts expected a balance of ₣2.77 billion. Meanwhile, experts claim that the Swiss economy will remain subdued until the end of the
The goods' prices in the EU's largest economy declined far more than expectated in August, which was heavily influenced by energy prices. Producer prices dropped 0.5% month-on-month in August and were 1.7% below the numbers of the same period last year. With the exception of energy prices, the German producer prices decreased 0.2% on a monthly basis and fell 0.5%
According to projections made by Goldman Sachs, the Euro may experience a decline of as many as 10 US cents due to extension of the European Central Bank's easing measures. The bank forecasts that the ECB will keep the monthly volume of the QE at the current rate, namely at €60 billion, but until the end of the next year,
The FOMC's choice to keep its monetary policy unchanged in the previous week did not awake any appetite for risk. The Japanese Yen firmed over the mid-Asian session to trade 0.16% up at 119.76 per US Dollar. The currency is primarily profiting from the risk averse sentiment taking place throughout the markets. This, in turn, exerted its influence on stock
Equity markets in Asia mostly declined on Monday, as the Fed decision to keep interest rates near zero raised concerns about global growth. The Japanese Nikkei index dropped 1.96%, Hong Kong's Hang Seng index closed 1.11% lower, while the Australian S&P ASX plunged 2.02% and South Korea's Kospi tumbled 1.57%. The Shanghai Composite index reversed a 1% loss to end
Crude futures rose on Monday, following the US drillers' projections to cut more rigs because of low prices. However, a global oversupply and worries about slowing energy demand still weigh on oil prices. Futures for WTI were traded 1.57% higher at $45.41 per barrel, while Brent contracts added 1.31% to $48.10 per barrel by 07:03 AM GMT. Meanwhile, the number
The Australian Dollar rose above the $0.72 handle again, meaning the currency climbed up 1.16% to reach $0.7248. The Reserve Bank of Australia Governor Glenn Stevens believes that the lower Aussie will exert more influence on the Australian economy despite the fact that growth lags behind the bank's expectations. During the last two years, the Aussie tumbled 25% against the
The New Zealand Dollar surged against the US Dollar on Friday, as market participants digest Thursday's FOMC statement. The NZD/USD pair rose 0.97% to $0.6403 by 07:38 AM GMT. In the prior session the pair closed 0.2% lower, despite jumping more than 1% after the release of the FOMC decision. Meanwhile, the Fed indicated that it will leave the door
Oil futures fell on Friday, with the latest OPEC comments weighing on prices, however both crude benchmarks are likely to book weekly profit. Futures for WTI were traded 1.22% lower at $46.31 per barrel, while Brent futures declined 0.65% to 448.76 per barrel by 07:21 AM GMT. Meanwhile, officials in Kuwait, a key producer of the OPEC, said that they
The Australian Dollar fell versus its US counterpart on Tuesday, as the RBA minutes raised the prospects of further rate cuts and pointed to a long-term weakness in the Aussie. The AUD/USD pair lost 0.17% and was traded at $0.7125 by 07:34 AM GMT, after it reached the session low at $0.7103. Earlier today, the RBA minutes overshadowed the short-lived
Crude prices dropped on Monday, as weakening demand weighed on markets, although the US futures were supported by reduced American drilling. Futures for WTI were traded 0.54% lower at $44.41 per barrel, while contracts for Brent fell 1.16% to $48.46 per barrel by 08:10 AM GMT. Meanwhile, analysts say that the major downside risks for oil come from uncertainty over
Asian stocks showed a mixed performance on Monday, as investors digested a bunch of Chinese industrial data released over the weekend and tread cautiously ahead of the Fed's meeting this week. The Shanghai Composite index dropped 2.67%, while the Hang Seng in Hong Kong added 0.38%. Meanwhile, the Australian S&P ASX index advanced 0.5%, the Japanese Nikkei index fell 1.63%,
The shared currency expanded its gains against the US Dollar, staying well above the $1.13 handle, as the low probability of a rate hike by the Fed in September is likely to put more pressure on the Greenback. The EUR/USD pair advanced 0.27% to $1.1362 by 07:14 AM GMT. Even though the major focus is turned to the upcoming Fed's