The Yen lost its position and fell from the highest level in three weeks versus the Dollar, since US stock futures gave a signs of a gain after five days loss, cooling safer assets demand. Japan's currency lost 0.6% to 119.04 against the Dollar after reaching to 118.06, the highest since December 17. Moreover, the Yen fell 0.4% to 141.26
On Wednesday gold futures slumped, but held close to the three-week high, as investors were impatient about the Fed's data release. Gold futures slid 0.37%, or $4.50, to $1214.90 per troy ounce, compared to Yesterday's three-week peak of $1223.30. During 2014 gold lost approximately 2% amid anticipated strong economic recovery, that would force the Fed to rise interest rates sooner
Unemployment in Germany fell to its lowest level in December, indicating the Europe's largest economy recovery outlook is improving. The number of unemployed dropped seasonally adjusted 27,000 to 2.841 million previous month, the Federal Labor Agency reported today. There are now 10,000 and 17,000 less unemployed in eastern and western parts, respectively.
The Euro slid to the weakest level in nine years as concerns about global economy and collapsing Brent crude oil prices, which fell below $50 a barrel for the first time since May 2009, drove investors to turn to safe-haven assets. The Euro dropped to $1.1842 amid speculation the European Central Bank will deploy quantitative easing soon.
Oil experienced a record drop since May 2009 of below $50 per barrel due to speculation that US inventories will rise, increasing global oversupply. Brent futures slid 2.3% for five consecutive days of losses, while crude stockpiles in the US largely expanded, whereas oil's second-largest consumer, China, is expecting slower imports. During last year oil slumped by the largest amount
On Wednesday the Euro declined to a nine-year low versus the US Dollar before the Eurozone inflation data release. EUR/USD hit a low of 1.1851, the weakest since 2006, amid expectation that stimulus measures by the ECB will be set early this year. One of the reasons of Euro's weakness was the US Dollar index, which hit a nine-year high
On Tuesday US natural gas prices fluctuated due to investors monitoring unstable changing weather forecasts for the next two-week period. In February natural gas tacked on 0.6 cents at $2.889 a million British thermal units. Short-term weather forecasts called for chill temperatures, boosting demand for heating fuel, while extended forecasts showed that colder readings were expected closer to the end
Oil declines below $55 per barrel and rises rumors about Norway's central bank will be forced to lower rates again. Brent crude experienced a 54% decline since June's high, which had a great impact on Norway's industry, where oil and gas make up to 22% of GDP. In the same amount of time the Krone lost approximately 20% versus the
Russian bond insurance cost against default jumped to the highest level in nearly six years amid concerns the nation's credit rating cut to junk is imminent. Thus Russian Ruble declined for a second day, while contracts increased to 126 basis points in three days, along with five-year credit default swaps gaining 63 basis points up to 601. The Ruble weakened
US stock futures almost unchanged, since investors are weighting whether the signals of a stable economy will lift equities after the drop in energy shares that headed the S&P 500 Index to its highest decline since October. The S&P 500 Index futures rose 0.1% to 2,016.6 in New York, comparing with an earlier 0.3% advance.
The Yen reached its highest two-day gain during last three weeks versus the Dollar, since a drop in stocks and oil stocked Japan's haven assets demand. The Yen added 0.7% to 118.81 against the Dollar at the trading session in London. Moreover, the Yen advanced 0.9% to 141.44 versus the Euro after touching 141.39, the highest level since November 3.
On Tuesday gold futures reached a new high of the past three weeks amid Greece's unknown future in the Eurozone. After metal's futures for February hit a three-week peak of $1211.80, they slid slightly and remained at $1209.80 per ounce. Competition against yield-bearing assets is tough for precious metals when rates are rising, as high borrowing rates are bearish for
Gold gained for a third day, setting the longest run of advances since October, as political uncertainty and slumping equity markets in Greece boosted demand for the yellow matal. Gold for immediate delivery climbed 0.8% to $1,214.43 an ounce, the strongest since December 16. Bullion for February settlement at Comex added 0.6% to trade at $1,211.60 per ounce.
Oil fell through $50 a barrel on speculation the US crude inventories are expanding, developing a global glut supply that was leading prices to the weakest level since 2009. Futures dropped 3.1% in New York. Oil lost as much as 50% in 2014, the biggest drop since the financial crisis in 2008, after the OPEC rejected cutting output.
On Tuesday the Euro nearly reached a nine-year low versus the US Dollar amid the Eurozone's private sector activity data showing a much slower rate than anticipated in December. EUR/USD was at a 1.1905, down 0.22%, posting the worst performance since February 2006. Last month's services PMI declined from 51.7 to 51.4 points, still above the threshold level of below
On Monday the UK Pound continued to fall, briefly reaching a 17-month low, due to deteriorating conditions in development in the construction sector. The Sterling lost 0.44% and fell to $1.5255 versus the US Dollar, dipped to the 17-month low of $1.5176, but managed to recover at around $1.5300 afterwards. Construction PMI decayed to 57.6 points and had a major impact
Natural gas futures continue to rebound from the lowest level in 27-month in New York on speculation the demand for the heating fuel may increase due to the blow of arctic air. Natural gas futures for February settlement rose 4.4% to reach $3.135 per million British thermal units and traded at $3.132 in Singapore.
The common currency slid to the lowest level in nine years against the Dollar on speculation the ECB is going to start quantitative easing program. The shared currency fell 0.4% to $1.1959 at 8:56 a.m. in London after touching $1.1864, the weakest since March 2006. Moreover, the Euro dropped 0.5% to 143.92 against the Yen.
On Monday the Euro dropped to a nine-year low versus the US Dollar among rising expectations that QE measures will be implemented by the ECB. The Euro was pressured lower by the strong US Dollar, with EUR/USD hitting 1.1858, the lowest since February 2006, while inflation is expected to decline 0.1%, which would be the first slide to the negative
Oil dropped for a third day, resuming its fall from the lowest since 2009 as supplies from Russia and Iraq are strengthening speculation that the oversupply, which guided crude into a decline, may preserve this year. Black gold futures slid 2.1% as Iraq plans to boost exports, while Russia's output has already reached a new record. Brent fell 48% last
On Friday the US Dollar climbed to a nine-year high versus other major currencies, prior to US manufacturing data report release. On account of the recent US data, expectations were increased for the Fed to raise interest rate in the near future, supporting the currency. The Greenback index gained 0.55% to 91.14, the highest since 2005, while EUR/USD hit the
The Russian ruble got closer to the worst annual decline since 1998 as government interventions suffered a setback in strengthening its currency. This year the Ruble was the worst performing currency, losing 42% of its value, due to Western sanctions and low oil prices, which pushed Russia's economy into recession. Government bonds weakened a lot in emerging markets, with the
Oil dropped to the lowest since 2009 due to speculation that US crude inventories will remain at the highest level in 30 years. US futures for the commodity declined 1.7%, while stockpiles are expected to stay at 387.2 million barrels for the week ended December 26. Black Gold slid 46% for the past year, close to its largest annual decline
As oil becomes more affordable, the European households are starting to spend more. According to Jens Weidmann, Bundesbank President, this may act as a positive factor for the Euro zone economy and thus could decrease the chance of the QE by the ECB. Still, many officials of the monetary authority remain worried regarding the slow inflation and say the European