The unemployment rate in Greece declined in May, however, the long term outlook for unemployment in the highly indebted country remains bleak. In May, the unemployment rate fell to 25%, compared to 25.6% in April. Meanwhile, the youth unemployment rate remained above the 50% level. Meanwhile, the Greek government is in talks to strike a deal with its creditors for
The manufacturing industry in the UK showed a slight improvement in June, with a growth of 0.2%, as increased output of metals and weapons helped to boost the sector. Nevertheless, the total industrial production dropped below estimates, following the biggest fall in gas and oil extraction in 17 months. The UK's total production declined by 0.4% against the anticipated rise
The New Zealand Dollar recovered from six-year low seen in the previous session, when the Kiwi was pushed back by weak domestic jobs figures and the robust US ISM data. The NZD/USD was traded up 0.38% at $0.6530, after reaching the daily high of $0.6552. Traders will eye the US labour data ahead in the week, which could boost expectations
The equities in the world's second largest economy inched lower on Thursday, as investors evaluate Beijing's commitment to prop up the stock market. However, rest of markets in Asia recorded mixed performances. The Shanghai Composite fell 0.9% to 3,662 points, the Hang Seng was down 0.5% to 24,388 points, while the Nikkei 225 nudged 0.2% higher to 20,664 points by
The common currency fell slightly against the Sterling on Thursday, as all eyes are on the economic data releases from the UK and BoE's meeting. The Euro slipped 0.1% to 0.6980 against the Pound by 7:50 AM GMT. Besides the BoE's rate hike decision, Manufacturing and Industrial Production figures on a month-over-month basis will be released. Moreover, BoE's inflation report
European equities opened lower on Thursday, as investors await the Bank of England's ‘Super Day'. The Stoxx 600 declined 0.5% to 402 points, the UK's FTSE 100 dropped 0.5% to 6,722 points, while the DAX 30 slipped 0.1% to 11,624 points. Meanwhile, Spain's IBEX 35 lost 0.3% to 11,249, the Italian benchmark FTSE MIB fell 0.4% to 23,828 points, while
The shared currency rose against the Greenback, following the rebound in German factory orders, revealed on Thursday. Industrial orders in the largest European economy grew 2% in June, while analysts anticipated a slight 0.1% growth. The single currency was sent higher to $1.0943 right after the data came in, however soon calmed again to trade up 0.07% at $1.0911 by
Bullion futures traded sideways on Thursday, after strong economic data from the US fuelled a Dollar rally and put pressure on the dollar-denominated commodities. The yellow metal traded flat at $1,085.8 an ounce by 7:20 AM GMT.the Greenback rallied after the Atlanta Fed's Chief, gave bullish comments about the likelihood of a rate hike in September, if strong inflation and
Oil prices edged slightly lower on Thursday morning, as investors evaluated crude inventory data released on Wednesday. The US benchmark WTI futures slipped 0.5% to $44.94 a barrel, while the European Brent Crude lost 0.1% to $49.53 a barrel by 7:10 AM GMT. US Crude inventories saw a 4.4 million decline last week, while analysts had expected a decrease of
The yellow metal dropped on Wednesday after the Fed voting member Dennis Lockhart showed his support for a rate increase in September. Bullion fell 0.38% to $1,086.20 by 11:26 AM GMT, after recovering from session lows of $1,083.30. Ahead in the day, the US ADP employment figure is expected, which could put the Fed closer to the start of policy
Equities in Europe rose on Wednesday against the background of positive earnings reports and mostly solid services PMIs from Europe. The French CAC 40 added 1.04%, the UK FTSE 100 gained 0.29%, and the German DAX advanced 1.03%, while pan-European Stoxx 50 increased 0.93%. Among the major gainers were carmakers, commodity producers and French bank Societe Generale, which surged 8.3%.
The shared currency remained mute against the Greenback on Wednesday, after the Euro zone services PMI data came out above the expectations, showing that the tertiary sector in Europe continued to expand in July. The EUR/USD pair edged down 0.19% to $1.0858, as the positive numbers from European economies were outweighed by the expectations of the Fed rate hike in
The gauge of service sector in the UK came out at 57.4 in July, pulling back from last month's 58.5, and below expectations of 58.1. However, the PMI measure stayed above 50, showing expansion in the sector for the thirty-first month. The service sector continues to prop up the UK economy, accounting for 78% of total GDP, and was the
Stocks in Asia broadly rose on Wednesday after the measure of services sector in China reached a near one year high. Japan's Nikkei gained 0.5%, South Korea's Kospi edged up 0.1%, while Hang Seng in Hong Kong rose 0.4%. However, the stocks in China continued to decline despite the positive sentiment in services sector. The Shanghai Index dropped 1.7%, while
Prices for oil rose on Wednesday amid the expectations for a fall in the US stockpiles. Moreover, positive sentiment towards crude was also boosted by an increase in Chinese services PMI. WTI was up 0.72% at $46.04 per barrel, while Brent rose 0.8% to $50.73 per barrel by 08:03 AM GMT. However, the firm Greenback erased potential gains for oil,
Stock markets in Europe edged lower on Tuesday, following weak reporting results from European companies and concerns about health of Chinese economy. The pan-European STOXX fell 0.6%, while both the German DAX and the French CAC 40 edged slightly lower with BMW and Credit Agricole among the worst performers. Meanwhile, the Athens equity market slumped 4% after a 16% plunge
The common currency advanced marginally against the Dollar, as the lack of economic data released on Tuesday limited movements by the pair. The Euro rose 0.1% to 1.0965 against the Greenback by 8:40 AM GMT. Traders remained calm, as they await economic figure packed Wednesday, when the US trade balance, ISM Non-Manufacturing PMI, and the Crude oil inventories figures will
The yellow metal was traded higher on Tuesday, breaking three consecutive sessions of decline, after slightly disappointing data from the US showed that rate hike is less likely to happen in September. The futures for gold rose 0.07% at 1,090.00 per ounce by 08:25 AM GMT. Meanwhile, analysts claim that the Federal Reserve may take more cautious approach and postpone
The EUR/GBP pair traded sideways on Tuesday, as traders await construction PMI figure from Britain. The Euro was 0.05% higher to 0.7032 against the Sterling by 8:10 AM GMT. Market watchers expect the construction PMI figure for July to improve to 58.5 from 58.1 in June. This UK data release is just one of series this week, therefore, the Pound
Equity markets in the world's second largest economy advanced, after new restrictions imposed by the Chinese government limited short selling. However, rest of the markets in Asia experienced losses. The Shanghai Composite jumped 3.7% to 3,757 points, while the Hang Seng edged 0.1% lower to 24,392 points. Furthermore, the Sensex lost 1% to 27,890 points, and the Nikkei 225 fell
The Australian Dollar jumped against the American counterpart, as the Reserve Bank of Australia left interest rates unchanged at 2% and showed its satisfaction of Aussie's current value. The AUD/USD pair rose 1.29% to $0.7383, extending its gains to 12-day high. The RBA Governor Glenn Stevens added in his statement that the Aussie is close to its fair value, however
According to official data, the number of unemployed fell by 74,000 in July, while market participants expected a decline of just 44,500. This is a further indication that the jobs market and the economy in Spain is recovering, as unemployed figure dropped by 94,700 in June. Moreover, unemployment rate in Q2 of 2015 fell by 1%, although youth unemployment remains
Crude oil futures surged on Tuesday, after prices dropped almost 4% during Monday's trading session. The WTI futures for September delivery rallied 0.9% to $45.58 a barrel, while the European Brent Crude advanced 0.6% to $49.78 a barrel by 7:20 AM GMT. Crude futures rose, as investors await weekly inventory data from the past week, which could have significant impact
The Sterling stayed calm against the Greenback after the better-than-expected manufacturing PMI data came out in the UK. The Cable was trading flat at $1.5615 by 08:48 AM GMT. Ahead in the day, the US manufacturing and spending data are awaited. Change in consumer spending in June is expected to decline to 0.2% compared to 0.9% in previous month, affecting