The Chinese currency declined on Monday falling against the U.S. Dollar after the People's Bank of China doubled the daily fixing to the Greenback in order to fulfill a commitment to let the market play bigger role in the region's economy. The Yuan opened today at $6.15 per U.S. Dollar and it dropped to $6.1642 later during the session.
Wall Street futures advanced earlier on Monday session rebounding from a notable decline recorded last week after referendum in Ukraine's Crimea passed without any violence. The Dow Jones industrial average gained 85 points, the Standard & Poor's 500 Index increased 9.5 points and the Nasdaq Composite index added 22.75 points.
Global shares increased on Monday trading session rising from the lowest level in four weeks as the Japanese currency slipped amid signs that the geopolitical tension in the Ukraine's Crimea eases after this weekend's referendum passing without major violence. The MSCI world equity gauge tracking shares from 45 countries gained as much as 0.1% after falling to one-month low last
The U.S. currency increased on Monday rising against the euro-area currency and the Japanese Yen as European and the U.S. shares gained on the session amid signs that the Ukraine's Crimea geopolitical tension eases. The so-called Greenback added as much as 0.45% to 101.78 yen, near its lowest level in two weeks at 101.205, while it gained to $1.3889 per
The European currency held firm on Monday trading session and traded near its long-term highs versus the U.S. Dollar after a government report showed that inflation in the 18-ation bloc declined last month suggesting that the ECB may loosen its monetary policy. The Euro dropped 0.2% ti $1.3889 and it was seen near two-and-a-half year high at $1.3967.
Australia's currency appreciated versus all of its major counterparts, as Westpac renounced its predictions for further RBA yield cuts in 2014. The Aussie strengthened as much as 0.4% to 90.62 U.S. cents at 6:12 p.m. in Sydney from Friday trading session, after it dropped earlier 0.4%. The currency contracted 0.4% last week. The Australian Dollar advanced 0.6% to 92.05 yen,
Copper in London almost reached a 44-month low after China increased the trading limits of the Yuan against the greenback. The metal for July delivery traded at $6,466.75 a metric ton as of 10:39 a.m. in Hong Kong after it added as much as 0.3% and dropped as much as 0.4%. The contract was little changed at $6,415 on Thursday
The Japanese Yen dropped for the first time in six days versus the greenback as Russian stocks gained after Crimea's referendum to split from Ukraine and a rise in tensions between the Russian Federation and the EU. Japan's currency contacted as much as 0.4% to 101.79 per greenback at 8:41 a.m. London time after it advanced 1.9% last week. The
Gold is heading to the highest price in more than a half year, completing the longest advance since August 2011, as a vote in the Black Sea peninsula to split from Ukraine and join Russia boosted a safe haven demand. The yellow metal for immediate delivery touched $1,383.53 an ounce as of 3:25 p.m. in Singapore after $1,383.05 on Friday
WTI contacted from the highest settlement in three days amid speculation that Crimea's referendum on leaving Ukraine would not lead to an interruption in oil supplies. West Texas Intermediate crude for April contract dropped as much as 22 cents to $98.67 a barrel in trading on the NYMEX as of 9:09 a.m. London time. The contract advanced 69 cents to $98.89 on Friday trading session.
Credit rating agency Moody's Investors Service has downgraded Royal Bank of Scotland long-term rating to Baa1 on lower profit outlook. The RBS now has medium-grade rating with moderate credit risk. The British lender was downgraded after the credit agency reviewed the bank and received information that RBS might set aside nearly £3 billion to cover potential expenses.
The Czech Statistical Office announced slower industrial production growth in January. The industrial production advanced 5.5%, while most of the analyst expected the production to grow 6.7%. In previous month it rose 9.3%, the strongest development in almost three-year time. The biggest drop was experienced in manufacturing output, which slowed down from 11.8% to 7.6% in January.
The European Central Bank President Mario Draghi announced that the forward guidance might weaken the Euro and lower inflation-adjusted interest rates in order to align growth in price level with the bank's 2% target. The shared currency advanced 7.2% versus the U.S. currency in the past year, and posted a 7% gain against the basket of major peers.
The central bank of Chile has cut the interest rates to 4%, which is the fourth time in half year time. The economy in Chile has advanced 1.4% in January, thus still having the slowest economic growth in four years, after the destructive earthquake in year 2010. Despite the slow slow growth at the beginning of the year, the policy
The German annual inflation slowed to 1.2% in February, thus decreasing by 0.1% from January, and still having lower rate than European Central Bank's 2% target rate for the euro zone. The German consumers paid smaller amount for motor fuels, as the prices tumbled 6.3% in February, while prices for electricity soared 2.3% and for food 3.5%.
The Japanese shares tumbled, as the tension grows in the Crimea and demand for safe-heaven assets increased. The Topix Index retreated 3.2%, after all industry groups fell. Big drop was experienced for Toyota Motors Corp., which slumped 3% while the EBook Initiative Japan Co. plummeted 15%. The Topix Index has slumped 5.2% this week, thus having biggest weekly loss in
The Yen surged 0.2% against the greenback, thus heading for its five-day winning streak, as the tension between Russia and Ukraine increases demand for safe-heaven assets. The Japanese currency is set for 1.6% weekly gain against the U.S. currency, while Yen has soared 1.8% against the shared currency since March 7.
WTI picked up from its lowest price almost in a month amid speculation earlier dip was not justified. West Texas Intermediate crude for April delivery added 61 cents to $98.60 a barrel and was at $98.24 at 11:59 a.m. London time in trading on the NYMEX. The contract contacted 2% to $97.99 on Wednesday trading session, the biggest drop since
The U.K. currency added the most in one month versus the greenback amid speculation that the Bank of England will hike the rate. The Sterling strengthened 0.4% to $1.6681 as of 4:19 p.m. London time, the biggest advance since Feb. 14. The Pound appreciated 0.2% to 83.49 pence per 18-nation currency after the price contracted to 83.78 pence, the lowest
The Australian Dollar is set for a weekly decline against the Dollar and the Yen as Chinese economy is slowing and ahead of a referendum in Crimea on breaking away to join Russia. Australia's currency contracted 0.3% to 90.05 U.S. cents as of 5:15 p.m. in Sydney from Thursday trading session, when it gained 0.5%. It fell 0.6% to 91.44
Gold reached the highest level in half a year ahead of a referendum in Crimea on whether to leave Ukraine and as China's slowing growth prompted demand for a save haven. The yellow metal for immediate delivery gained 0.5% to $1,376.64 an ounce, the highest price since Sept. 10, and was set at $1,370.85 as of 2:39 p.m. in Singapore,
West Texas Intermediate crude fluctuated on Thursday trading session and traded near the weakest level in more than a month after a government data unveiled that manufacturing growth in the world's second largest economy slowed down. WTI for settlement in April fell 2% yesterday and slightly added 19 cents to $98.18 per barrel on the NYMEX as of 3 p.m.
The European currency increased on Thursday trading session rising towards the strongest level in over a two-year period as policy makers showed support for the area's recovery signaling that the interest rates may stay at current levels until the economy improves. The Euro jumped by 0.3% to $1.3938 by 6:43 a.m. London time following a gain to $1.3949, the most
Manufacturing sector in the 18-nation bloc continued to recover, according to the HIS Global Insight Chief European and UK Economists Howard Archer, pointing on the last economic data showing that the sector remains strong. However, the statistical office Eurostat reported that industrial production in Eurozone slipped 0.2% on a monthly basis in January following a 0.4% drop in December.