Crude oil prices moved higher on Friday amid hopes that rising demand and a drop in US stockpiles would reduce the oversupply in oil that has put pressure on the market for over a year. WTI futures for delivery in November were up 2%, or $0.99, to trade at $50.42 per barrel. As to Brent futures for November delivery, these
The New Zealand Dollar jumped up to its highest level in over six weeks following the most recent FOMC meeting that suggested policymakers were tending to keep interest rates unchanged. The Kiwi rose $0.6661 from $0.6605, while the trade-weighted index increased from 71.04 to 71.60. The U.S. Dollar index stood at 95.308 from previously 95.479 following the earlier drop to
Prices for gold edged higher on Friday following the US Dollar weakness after the FOMC's recent monetary policy meeting giving little indication on an interest rate increase until the end of 2015. Thus, gold futures stepped up 0.1% to $1,140.10 per ounce, after tumbling 0.6% in the prior session. The bullion is up 2% for the week. As to other
Oil moved somewhat higher, even though gains remained limited due to a surprising surge in US inventories, which pushed prices down previously in the session. WTI futures for November delivery were up $0.17 to trade at $47.98 per barrel, whereas futures for Brent stepped up $0.15 trading at $51.48 per barrel. As reported by EIA, the US crude oil reserves
The Aussie tumbled against its US counterpart following the Greenback's recovery from its recent losses recorded due to speculations that the Federal Reserve will postpone its interest rate hike until beginning of next year. The AUD/USD pair reached its session low of $0.7165 over late Asian trading. Subsequently, the currency pair fell 0.46% to change hands at $0.7174.
Crude oil jumped up and extended gains from the last session due to decreasing US stockpiles and falling Dollar that is believed to foster the commodity's demand. WTI futures for November delivery stepped up $0.59 to trade at $49.12 per barrel, whereas Brent futures for delivery in November increased $0.38 to reach $52.30 per barrel. US oil production dropped 120,000
The US currency weakened against the Japanese Yen on Wednesday after the Bank of Japan decided to keep its policy unchanged. The US Dollar was trading 0.16% lower at ¥120.11, just after shortly falling to its daily low of ¥119.75 after the BOJ's decision. Late Tuesday, the Greenback was below ¥120.24 in New York.
Wall Street is set for a slightly lower open on Tuesday, pausing from a rally posted in the past few days, as investors are digesting prospects for the Fed rate hike delay and are bracing themselves for the third-quarter earnings session. Futures for the Standard & Poor's 500 index gave up 0.3%, those for the DJIA fell 0.2%, while futures
According to the Institute for Supply Management's report, the US non-manufacturing index dropped to 56.9 points in September from August's 59.0 points. Although the figure was not in line with analysts' forecast of 58.0 points, it nevertheless remained above the 50-point handle, indicating the service sector's growth. Business activity and new orders both tumbled in September, with 60.2 and 56.7
The Japanese Yen outstripped the US currency on Tuesday and kept further increasing, thus, recovering after four consecutive sessions of losses. At the current moment, the currency pair trades 0.23% lower, at ¥120.22, heading towards ¥120.06. Market participants are expecting further actions form the Bank of Japan that is scheduled to have another monetary policy meeting tomorrow.
Prices in Switzerland tumbled for the 11th month in a row, recording the biggest annual fall since 1959, the Federal Statistical Office reported. Measured on an annual basis, the Swiss consumer prices slid 1.4%, equal to the decline rate in August. Analysts had projected prices to decrease by 1.5%. In monthly terms, the Consumer Price Index booked an increase of
New Zealand's currency climbed up against the US Dollar on Tuesday amid the Reserve Bank of Australia's announcement of an unchanged monetary policy for the fifth consecutive month. The NZD/USD pair changed hands at $0.6493, slightly easing from its session high of initially $0.6516. According to statistics published earlier, New Zealand's business confidence indicator dropped to minus 14 in Q3,
The house prices in the UK experienced in September their biggest decline in more than one year, reported Halifax. The home cost on average dropped 0.9% from the prior month. In contrast to that, prices soared 2.7% in August. Compared with a year ago, prices increased 8.5% in September, while they rose by 2% in Q3. House-price inflation started to
The Australian Dollar extended gains against its US counterpart on Tuesday, as the RBA kept its interest rate on hold for the fifth consecutive month. The AUD/USD advanced nearly 0.7%, to trade at the fresh two-week high of $0.7134 just after the decision. By holding its interest rate steady at 2%, the RBA showed that the recent falls in commodity
Even though the Greenback stayed weak after the release of US employment data, the single European currency failed to strengthen against the US Dollar. The Euro continues to trade choppy on Tuesday, fluctuating around 1.12 dollars. This was also influenced by the most recent German data on factory orders for the eight month of the year that posted a second
European equity markets opened lower on Tuesday, following weak factory orders in the Euro area's number one economy powerhouse, with traders trying to plot the next Fed's policy moves. Germany's DAX 30 index declined 0.19%, while the UK FTSE 100 index lost 0.31%. Among the other indices, the French CAC 40 edged 0.05% lower, while the pan-European Euro Stoxx decreased
Prices for crude oil were trading flat on Tuesday ahead of a report on US commercial crude inventories. WTI futures for November delivery were down $0.01 to trade at $46.25 per barrel, whereas Brent futures for delivery in November climbed up $0.09 to trading at $49.34 per barrel. In the prior week, the US government reported that refineries operated at
Factory orders in Germany remained in the red in August, indicating that the Euro zone's biggest economy is also vulnerable to headwinds from slowdown in emerging economies. According to Tuesday's report, industrial orders in Germany fell 1.8% during the reported month, while analysts expected the reading to post a 0.5% increase. In the prior month, the revised gauge dropped 2.2%.
The British services PMI tumbled for the ninth month of the year, down from the 55.6 points in August to 53.3 last month, making it the lowest reading of the services sector activity since April 2013. As a result, the Sterling dropped after the PMI release and the EUR/GBP pair traded somewhat above the 0.74 mark. On Thursday, the BoE will
Prices for gold tumbled on Monday; however, the metal largely kept gains from their biggest rise in approximately nine months in the prior session as weak US employment numbers dampened expectations for this year's rate hike. Gold futures for delivery in December fell 0.22% to reach $1,134.10 per ounce. Futures for silver slipped 0.51% to $15.185 per ounce, whereas those
The World Bank has downgraded its economic growth forecast for East Asia and the Pacific for the present and upcoming year that was mainly driven by dull economic indicators for China. More precisely, the Bank forecasts the Asia Pacific region to grow 6.5% in 2015 and 6.4% the next year, which is lower than the previous projection of 6.7%. The
The British Pound advanced versus the US Dollar on Monday, following Friday's disappointing employment figures from the US. The Cable added 0.38% to trade at $1.5231 by 07:55 AM GMT, after slipping to $1.5169 in the early Asian session. The Sterling also received a little boost from today's uptick in the stocks across Europe. Meanwhile, ahead in the day, traders await the services PMI
Prices for crude oil rose on Monday after the Greenback declined due to the released US jobs data that came in weaker than expected. WTI futures for November delivery were up $0.32 to trade at $45.86 per barrel, while futures for Brent increased $0.32 to trade at $48.45 per barrel. The Dollar index last fell 0.02% to reach $95.810.
The Australian Dollar jumped up after the release of the disappointing US non-farm payrolls data from the previous week, hence pushing the analysts' expectations for the Fed's interest rate hike into the beginning of the next year. The Aussie climbed up from Friday's $0.7046 to trade at $0.7061. After the weekend, the Antipodean currency reached its peak of $0.7069 following