US stocks closed lower on Tuesday as they plummeted in the afternoon with concerns about Ukraine having a large effect. As reports came out that Russian troops were gathering near the Ukraine border stocks from the energy sector took the biggest hit falling 2.1%. Overall, the DJI finished 0.84% lower and the S&P 500 fell 0.97%.
New Zealand employers recruited workers at a slower pace than projected in the second quarter, adding to omens that economic growth is decelerating, reacting to higher borrowing costs. The employment rose 0.4%, adding 10,000 jobs, compared to the first quarter, when the employment increased 0.9%. The unemployment rate dropped to 5.6%, the lowest level in nearly five years.
The US Dollar index was near a 11-month high as upbeat US data helped it climb on Wednesday. With the index reaching 81.626 on Tuesday the last number was not far off at 81.550. In addition the main force behind the move was the US services sector and factory orders data. Meanwhile, the Kiwi was lower due to falling milk prices.
The Sterling strengthened versus the U.S. Dollar as figures revealed the U.K. service sector was highly active in July. The Cable was trading at 1.6873 yesterday afternoon. Moreover the Sterling appreciated versus the common currency, with EUR/GBP standing at 0.7923, and versus the Yen, with GBP/JPY up 0.25% reaching 173.28. The U.K. service sector grew at the fastest pace during the last eight months in July.
West Texas Intermediate was near its three day highs before the US supply data. The WTI was up 20 cents as the futures for September were trading at $98.49 a barrel. With the Texas light sweet falling 4.1% last week the inventories will show the further direction of the crude. Meanwhile, Brent for the same month was little changed at $105.37 a barrel.
Within the block of eighteen nations, composing the Euro zone, retail sales rose by 0.4% from the previous month, adding up to a total of 2.4% while on a year-on-year basis. The data, which proved to be marginally less than forecast, reflects patterns in consumer spending. Due to be held on Thursday is the ECB meeting on the topic of
Britain's service sector activity grew rapidly in July, providing positive signs over the U.K. economic outlook. The services PMI jumped to 59.1, well ahead of the expected 57.9. The analysts forecast 0.8% growth in GDP if the service sector activity develops at the same pace in the upcoming months.
The Euro Zone services PMI decreased in the second quarter, the reports indicated today. The figures showed the index slipped to 54.2 from 54.4 in the first quarter. The analysts anticipated the data to remain unchanged. However, the reading stays comfortably above the 50.0 threshold as the Euro Zone slowly recovers from the most recent recession.
英国7月服务业PMI值于8月5日公布，数据显示为服务业PMI升至8个月高点59.1，高于预期的57.9。也大大高于6月的57.7。上周公布的制造业PMI值表现疲软，触底一年低点，但结合周一强健的建筑业PMI和表现优秀的服务业PMI，足以将7月综合PMI推升至3个月高点，达到59.1，高于六月的58.4。综合表现优秀。
The Sterling rose against the US Dollar after the release of services PMI data in the UK. It had been forecast that the UK's services PMI would rise to 58. However, the actual value was higher than anticipated - 59.1 in July, compared to previous month's 57.9. The surprising data caused the Cable to rise to 1.6887, representing a 0.15% hike.
India's central bank reminded about the inflation threat to the country's growth on Tuesday and decided to hold the interest rates hoping to beat inflation once and for all. With the inflation already falling from more than 10% to 7.3% in June and the GDP growth halving to less than 5% many are awaiting interest cuts. However, the RBI has made its stance clear and would
This Tuesday gold futures rose, driven by projections regarding the possibility of an increase in interest rates. Still, the price remained ranging below $1,300, as investors wait for further hints from the data concerning US factory orders for June and ISM Non-Manufacturing PMI for July, due to be released later this day. Gold futures fluctuated between 1,288.30 and 1,293.50.
Driven by additional rises in new work within companies, the Italian business activity kept on rising in July. Although it had a solid increase to 52.8, it still represents a slight downfall from 53.9 in June, its highest level in forty three months. A minor drop to 53.2 had been forecast, so the data released represents an outstanding rise nevertheless.
South Korea's Won appreciated for the second day in a row after the exporters repatriated their overseas income and foreign-exchange reserves grew to a record. The exports jumped 5.7% in July as compared to the year before and the foreign-exchange reserves now amount to $368 billion. The Won climbed 0.2% to 1,031.75 per dollar and it is being backed up by the U.S. Dollar sales by
The Kiwi held steady versus the Greenback, as demand for the US Dollar slowly recovered after the disappointing unemployment claims report on Friday. With more US data to be released later this day, the market keeps holding steady, as traders wait for the outcome. The pair hit 0.8511 during the Asian session and proceeded to consolidate at 0.8524.
The US Dollar was near a ten-and-a-half month high against other major currencies on early Tuesday as there was little volatility for the Dollar index and it stood at 81.320. The muted trade is understandable drawing nearer to the main central bank policy reviews. In addition, the Aussie actually rose with many betting on an unchanged RBA's stance.
The Bank of Japan policy makers are concerned about the signals of the vulnerability of the economy after a sales-tax increase. The Governor Haruhiko Kuroda is set to discuss this week the possibility to ease their estimation of Japan's overseas sales and also whether to express concern about the fall in industrial production.
The US shares finished higher on Monday as a late surge led by Berkshire Hathaway and followed by gains in most sectors allowed the S&P 500 recover from last week's disappointing performance. Only the utilities index .SPLRCU held the rally back by falling 0.59%. Nevertheless, the gains were quite substantial as DJI added 0.46% and the S&P 500 was 0.72%
The Aussie weakened for the first time in two days after the reports showed the activity of Chinese services stagnated first in many years. The Australian Dollar depreciated against all but one of its major peers after the RBA kept the interest rate on hold today. The Aussie dropped 0.1% to 93.27 U.S. cents today after gaining 0.4% during the preceding two days.
The Greenback was almost unchanged today versus the Swiss Franc following the issue of the favourable figures from Switzerland and as investors stayed cautious after the release of the U.S. employment report. USD/CHF reached 0.9059 today in the afternoon. The Swiss economists reported today that the PMI rose to a three-month high of 54.3 in July in contrast to the anticipated 52.8.
Construction PMI dropped from the previous month to 62.4. However, despite the decrease from June's 62.6, the data released managed to surpass its 62.0 forecast. The Sterling rose by 0.07%, trading at 1.6832 against the US Dollar. Traders are expected to remain cautious as the BoE will announce its decision regarding interest rates on Thursday.
South Korea's Won appreciated the most in nearly four months as the U.S. economy created fewer jobs in July than anticipated. The Won grew 0.7% to 1,029.75 per Dollar today, the biggest gain since April 9th. The economists believe the South Korea currency is regaining some of the losses it incurred on August 1st. Some of the investors are said
The US Dollar had its largest daily fall in almost a month as there were disappointments from both the inflation and employment numbers. The Dollar index fell 0.2% on Friday, which was not a large drop but one that had not been seen for a while. With the index rising more than 2% in the last month some argue this
As traders assess the possibility of higher interest rates in the US, gold futures rose on Monday. Due to disappointing unemployment figures, traders are wary that interest rates in the US may not raised as soon as expected. During the European session, gold prices fluctuated between 1,292.50 and 1,296.30.