Crude prices tumbled on Monday, following the massive sell-off in global financial markets, as the turmoil in Chinese equity markets reinforced the concerns over the global economic growth. The WTI futures slumped 2.65% to $39.38 per barrel, while Brent crude dropped below $45 for the first time in over seven years, trading 2.51% lower at $44.30 per barrel by 08:04
The shared currency rose against the US Dollar on Monday, as the turmoil in Chinese stock markets raised concerns over the health of the global economy, diminishing the prospects of the rate hike in the US. The EUR/USD pair was seen 0.98% higher at $1.492 by 07:38 AM GMT, trading near its seven-month high. Meanwhile, the analysts expect further strengthening
Stock markets in Asia posted steep losses on Monday, with equities in China hit the hardest amid rising concerns over the health of the world's second largest economy. The Shanghai Composite Index slumped 8.35%, while the Hang Seng index fell 5%. Elsewhere, the Australian S&P ASX 200 dived 4.09%, in Japan the Nikkei Index lost 4.61%, while South Korea's Kospi
The shared currency failed to hold early gains against the Greenback, following the mixed flash PMIs from Germany and France. The French flash manufacturing index for August dipped to 48.6 from 49.6, while the same gauge in Germany rose to 53.2 from 51.8. The reaction of the EUR/USD pair was quite mild, as the Euro edged 0.09% higher to $1.1250,
Crude futures expanded the losses on Friday, heading for a significant weekly losing streak, as the global oversupply and concerns about health of China's economy supported bearish sentiment. WTI futures gave up 1.02% to trade at $40.89 per barrel, while contracts for Brent crude slipped 1.14% to $46.09 per barrel by 08:04 AM GMT. Worries over demand for oil in
Equity markets in Asia fell to multi-lows, as the massive sell-off was sparked by disappointing Chinese factory activity. The preliminary PMI for August in the second largest economy dropped to 47.1, its six-and-a-half low. Meanwhile, the Shanghai Composite index was down 4.21%, Japan's Nikkei fell 2.98%, while Australia's S&P ASX 200 was off 1.40% and The Korean Kospi declined 2.01%.
Gold prices rose on Friday as the stock market turbulence drives investors into safe havens. The precious metal was also supported by the weakening US Dollar, as the Fed is less likely to hike rates in September. Gold advanced 1.03%, trading at $1,164.10 per troy ounce in early trading session, holding slightly below its six-week high. The rapid growth in
The US stock index futures dropped sharply, as oil prices extended losses and traders digested the Federal Reserve's dovish tone in Wednesday's minutes. The ongoing rout in Chinese equities was also among the factors which set the Wall Street to post a third straight day of losses. Futures for the DJIA dropped 0.8%, while those for the S&P 500 index
The Australian Dollar dropped versus its US counterpart on the back of the concerns over the Chinese economy, as equity markets in China continued to shrink this week. Worries over the second biggest economy triggered a risk-off sentiment among traders, dragging lower emerging market currencies, but also the Aussie, which is most dependent on China. The AUS/USD pair slipped 0.59%
The Sterling plunged versus the Greenback on Thursday, following weaker-than-expected sales figures from the UK. The official data reported that the volume of retail sales advanced 0.1% in July after a 0.1% decline in June, missing the estimate of +0.4%. The Cable lost 0.36%, trading at $1.5620 by 09:19 AM GMT. Meanwhile, the weak retail sales data did not support
Stock markets in Asia fell on Thursday, as worries around the world's second largest economy and the cloudy outlook for the timing of a rate hike in the US scare investors off. China's benchmark Shanghai Composite lost 3.4%, South Korea's Kospi was down 1.28%, while the Nikkei Stock Average slipped 0.94% and the S&P ASX 200 dropped 1.70%. Analysts say
Crude futures dipped further on Thursday following the decline in previous sessions, as the unexpected growth of the US oil inventories reinforced fears of global supply glut. WTI futures dropped 0.7% to $40.98 per barrel, while contracts for Brent crude fell 0.59% to $46.88 per barrel by 07:58 AM GMT. A slowing Chinese economy, global oversupply and a firm US
Greece made a €3.4 billion bond and interest payment to the European Central Bank on Thursday. This happened one day before Greece received its first €13 billion tranche from a new bailout package, which was officially approved by the European Stability Mechanism after the votes in the German and Dutch parliaments. Altogether, the third bailout package amounts to €86 billion,
The yellow metal extended its gains, hitting a one-month high on Thursday, as the Fed minutes revealed that the expected rate hike in September is not on the table yet. Policymakers of the Fed are concerned that dwindling US inflation and a struggling global economy place a bigger risk on hiking rates. Gold futures rose 1.09% to $1,139.40, as more
The EUR/USD pair was trading flat on Tuesday ahead of the US housing data due today and the Wednesday's Fed meeting minutes. The shared currency was traded 0.09% lower at $1.1067 by 11:33 AM GMT. For the Euro, the first important data for this week will be published on Friday, with flash manufacturing PMI figures from the biggest European economies,
Wall Street was set to open lower on Tuesday, following the sell-off in Chinese equities over the Yuan concerns. Futures for the DJIA dropped 0.2%, those for the S&P 500 index slipped 0.2%, while futures for the Nasdaq 100 index gave up 0.2%. Looking ahead, investors are waiting for the Fed meeting minutes on Wednesday, which could hint more about
The Sterling soared against the Greenback as the rate of inflation in the UK rose above estimates. The Cable jumped 0.53%, hitting a session high of $1.5668. The CPI figure released on Tuesday showed that the inflation rate increased to 0.1% in July, beating a zero growth forecast, while the core CPI soared above estimates by 1.2% on an annual
Crude futures plunged on Tuesday as a global supply glut, a strong US Dollar and a sluggish outlook for the Chinese economy all put more pressure on oil prices. Futures for WTI dropped 0.74% to $41.56 per barrel, while Brent futures dipped 0.70% to $48.41 per barrel by 08:15 AM GMT. Analysts say the move was largely speculative, driven by
Asian shares fell on Tuesday on concerns that devalued Yuan and cooling demand in China will weigh on the trade-reliant region. The Shanghai Composite Index widened losses to 6.12%, while Hong Kong's Hang Seng Index fell 1.16%. Elsewhere, South Korea's Kospi dropped 0.62%, Japan's Nikkei was down 0.32%, while Australia's SP ASX tumbled 1.20%. Meanwhile, the Yuan stabilised after a
The New Zealand Dollar jumped on Tuesday after Russian Federation partially lifted a ban and allowed 29 New Zealand dairy companies to sell their products to Russia. The NZD/USD pair rose 0.25% at $0.6587 by 07:13 AM GMT. The lift of the ban will give a huge relief to New Zealand dairy sector, which suffered a 70% decrease in global
Despite a lack of news EUR/USD managed to stabilise around 1.1060 and then the rate rallied 30 pips. While there are no major data releases to watch at the beginning of the week, traders will focus on the Greek bailout programme as well as on the US CPI figures and the FOMC minutes in the days ahead. The Euro declined
Indices in Europe were traded mainly higher on Monday as investors watch for progress in concluding the third bailout programme for Greece. Germany's DAX 30 index gained 0.21%, the French CAC 40 index added 0.25%, while the pan-European Stoxx 50 rose 0.19%. However, the FTSE 100 lost 0.2%. The best performer was the stock of Alstom, which jumped 7%, as
The Australian Dollar extended losses versus its US counterpart, as traders are waiting for the US CPI figures and the FOMC minutes, which could determine the timing of the Fed's rate hike. The Aussie dropped 0.13% against the Greenback, trading near $0.7364 at 09:06 am GMT. The Australian currency was also hit by the devaluation of the Yuan, since China
Equity markets in Asia showed mixed results on Monday as relative stability in the Yuan decreased concerns over further China's currency devaluation. The Shanghai Composite Index was up 0.73%, while the smaller Shenzhen Composite rose 0.6%. Elsewhere, the Hang Seng Index declined 0.74%, while South Korea's Kospi dipped 0.75%. In Japan, the Nikkei rose 0.49% as disappointing growth boosted hopes