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
Equity markets across Asia recorded gains, as investors expect the Chinese government to add further stimulus to prop up its stock markets. The Shanghai Composite jumped 4.9% to 3,928 points, the Sensex rose 0.4% to 28,357 points, while the Nikkei 225 gained 0.4% to 20,809 points. Meanwhile, the Singapore's FTSE Straits Times Index edged 0.2% higher to 3,196.6 points by
The yellow metal edged higher on Monday; however, the precious metal continued to trade below the important $1,100 an ounce level. Strong US non-farm payrolls figure confirmed September as a candidate for a rate hike by the Fed. Nevertheless, the bullion futures rose 0.3% to $1,097.4 an ounce by 7:30 AM GMT. In July, non-farm payrolls added 215,000 jobs, above
The shared currency was traded almost unchanged against the Greenback on Monday, as traders kept focusing on new bailout deal in Greece and the Fed's Lockhart speech. The EUR/USD pair edged 0.07% higher at $1.0974 by 07:15 AM GMT. Meanwhile, optimism among the EU officials is growing, as Greece is more likely to approve new austerity measures.
The common currency traded higher against the Aussie, as the Euro was boosted by hopes of a Greek deal and the Aussie was under pressure by slipping commodity prices. The 19-nation shared currency rose 0.3% to 1.4842 against the Aussie by 7:20 AM GMT. The Australian currency fell, as oil futures declined below the $44 a barrel level and economic
Crude oil futures traded below the $44 a barrel level on Monday, after market sentiment was damaged by economic data from China and the strengthening Dollar. The US benchmark WTI futures slipped 0.3% to $43.72 a barrel, while the European Brent Crude lost 0.1% to $49.19 a barrel by 7:10 AM GMT. Chinese outbound shipments fell 8.3% in July, thus
The stock futures in the US were muted on Friday, as traders kept focusing on the release of non-farm payrolls data as well as unemployment figures. The S&P 500 futures were about unchanged at 4,526, the DJIA futures went up 3 points to 17,378, while those for Nasdaq 100 were flat at 4,526. Meanwhile, analysts say that the upcoming US
The Pound traded sideways against the Greenback, after UK's trade deficit was released and as traders await US non-farm payrolls data release. The Cable was flat at the 1.5517 mark by 9:00 AM GMT. Britain's trade deficit rose to 1,601 million Pounds, mostly due to strengthening Sterling against the European and US counterparts. July payrolls data is expected to show
Bullion was hovering near a five-year low on Friday, on track to extend its losses for seventh consecutive week, gold's longest losing run since 1999. The yellow metal managed to recover above the level of $1,090, reaching the daily high of $1,096.8 by 07:05 AM GMT, but then it resumed the decline. Investors will focus their attention on the US
Equities in Asia traded mixed, as investors wait for the release of the US employment data, which could determine the possible timing of the rate hike by the Federal Reserve. The Japan's Nikkei edged 0.29% higher, Australia's S&P ASX 200 plummeted 2.41%, while Hang Seng rose 0.7%. Meanwhile, stocks in China jumped in sight of new possible support measures from
Equity markets across Europe edged lower on Friday, as investors await the US non-farm payrolls figure released later in the day. The Stoxx 600 fell 0.2% to 400 points, the DAX 30 slipped 0.4% to 11,534 points, while the France's CAC 40 0.2% to 5,181 points. Meanwhile, the Italian FTSE MIB was flat at 23,805 points, while the Spain's IBEX
Prices of oil were in green on Friday, however analysts say it could be just a short-term upward trend, while crude futures still face a sharp weekly decline. WTI were traded up 0.47% at $44.85 a barrel, while futures for Brent rose 0.48% to $49.75 per barrel. Meanwhile, global oversupply and the firm US Dollar still put pressure on oil
The Australian Dollar strengthened against the Greenback, after the Reserve Bank of Australia confirmed with its quarterly Statement of Monetary Policy that it was happier with Aussie's depreciation. The Aussie surged 0.45% to 0.7377 against the US Dollar by 7:15 AM GMT. The depreciation in the local currency increased the demand for Australian goods and services. In addition, the RBA
The EUR/GBP pair fell, after the data was released about the UK's industrial sector. The data had limited effect on the cross, as traders await BoE's policy meeting and the report on inflation. The common currency fell 0.2% to 0.6973 against the Sterling by 9:45 AM GMT. Manufacturing production in Britain for June grew by 0.2% on month-over-month basis and
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