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
Equity markets across Asia grew on Monday, as the trading mood was boosted thanks to weak employment report from the US, which cooled expectations that the Federal Reserve will start raising interest rates soon. Japan's Nikkei index rallied 1.58%, the Australian S&P ASX jumped 1.9%, while South Korea's Kospi added 0.44%. In the meantime, Hong Kong's Hang Seng rose 1.38%,
The US Dollar strengthened versus the Yen and the Euro ahead of the widely awaited release of US non-farm payroll data, which could enable to clarify whether there is going to be a hike in interest rate by the Fed during the next monetary policy meetings. The shared currency tumbled 0.19% trading at $1.1174, while the Dollar increased by 0.11%
Crude oil prices stepped up due to the growing conflict in Syria that raised concerns over supply interruption in the region. Futures for Brent rose 0.5% to trade at $48.64 per barrel, whereas WTI futures were traded 1.2% higher at $45.33 per barrel. Nevertheless, crude prices are expected to end the week in negative territory.
The British Pound remained stable and stayed at positive levels on Friday following the latest release of the UK PMI data from the construction sector, which visibly expanded territory in September. The Sterling climbed up 0.20% against the Greenback and is presently trending at $1.5160. The activity in the British construction sector advanced reaching 59.9 points, thus, being the highest
Following the final report on the UK GDP figures for the second quarter confirming an increase of 0.7% quarter-on-quarter up from the recorded 0.4% in Q1, the British Pound managed to advance on Wednesday. The total economic output rose by 2.4% on year, which was against the forecasted 2.6% growth. The Sterling gained 0.21% to 1.5179 US dollars, recovering from
Crude oil prices slipped on Wednesday after US stockpiles rose more than expected last week. Futures for WTI for November delivery were down $0.44 to trade at $44.79 per barrel, while Brent futures slid $0.36 to trade at $47.87 per barrel. Traders also expressed their concerns about the economic situation in China due to its effect on oil demand.
Platinum prices tumbled below $900 per ounce and hit the lowest level since January 2009 amid worries over the impact of the Volkswagen emissions scandals on demand. Spot prices for the metal were down 1.3% to $904.30 per ounce after an earlier low of $894. Platinum is about to experience its most considerable monthly loss since September 2011.
The Canadian Dollar dropped versus its US counterpart despite stronger oil prices, as the sentiment was hit by fears over global economic growth and commodities turmoil. USD/CAD advanced 0.2% to $1.3418 by 11:22 AM GMT, after reaching the session high at $1.3431. Ahead in the week, traders will eye the release of the Canadian GDP figure for July, as well
Even though the British Pound seems to be climbing up, it nevertheless struggles to end its downward rally against the Greenback and remain at higher levels. Despite the fact that the cable stays bearish, it hovers above the prior week's low of about $1.5130. On Tuesday, the Sterling gained 0.12% to 1.5190 dollars.
Prices of the yellow metal edged lower on Tuesday, extending the two-day losing streak, while prospects of the 2015 rate hike in the US are still in place. The bullion declined by 0.57% to $1,125.60 per troy ounce by 08:45 AM GMT. Meanwhile, analysts are pointing out that the precious metal failed to confirm its safe-haven status, as it continues
The stock markets in Europe fell on Tuesday, with the global sentiment in the markets weak due to fears over economic growth. Germany's DAX 30 index declined 0.56%, the UK's FTSE 100 index dropped 0.8%, while the French CAC 40 index lost 0.75%. On the corporate front, the mining sector is in focus amid commodities rout. London-listed commodity firm Glencore,
Crude futures climbed on Tuesday, halting a hefty losses of almost 3% in the prior session, however traders remained worried over China's economic slowdown and global supply glut. Futures for WTI grew 0.72% to $44.75 per barrel, while Brent futures rose 0.63% to $47.64 per barrel by 07:21 AM GMT. Meanwhile, experts claim that oil received only short-term support from
The shared currency rose against the Greenback on Tuesday, as the recent turmoil in commodity prices prompted investors to run to save havens, such as the Euro and the Yen. The EUR/USD pair climbed 0.19% to $1.1275 by 07:09 AM GMT. The risk aversion hit the market amid the renewed rout in commodities on the back of a slump in
The BoE is expected to keep its interest rates unchanged until mid-2016 and not raise them anytime soon, which is primarily caused by the gloomy global economic outlook, said CEBR. In addition to that, it is believed that an increase in May or August next year is more possible than in February, as previously projected. The UK economy is forecasted
As reported by Italy's statistical office Istat, confidence in the country's manufacturing sector stepped up in September. More precisely, the Manufacturing Confidence Index increased to 104.2 from 102.7 booked in August, thus, recording the highest level since May 2011. Economists projected 102.7. Meanwhile, the CCI reached 112.7 in the ninth month of the year from August's 109.3, recording the highest
After a week of considerable losses, the Sterling gained 0.12% to trade at $1.5191 against the US Dollar, which is still below the levels of around $1.56 witnessed last week. Aside from the BoE's Deputy Governor for Financial Stability John Cunliffe's speech, all eyes will be on the speeches held by nine Fed officials this week, including Fed Chair Janet
Profits earned by Chinese industrial firms declined 8.8% on an annual basis in August, after a drop of 2.9% recorded in July, said National Bureau of Statistics. Such weak performance was primarily driven by a fall in the prices for industrial goods. Industrial companies' profits with yearly revenues higher than 20 million yuan made 448.1 billion yuan in August.
The shared currency turned bearish and fell versus the US Dollar, as traders are focusing on the upcoming speeches of the FOMC voting members. The EUR/USD pair dropped 0.15% to $1.1173 by 07:46 AM GMT, hovering near daily low. Meanwhile, the US Fed will remain in the headlines with the nine Fed speakers scheduled over the week, while the most
Asian stock markets showed mixed results on Monday, with Japanese shares posting steep losses due to a sell-off in the auto and pharma sectors. However, the trading volumes in the region were light with Hong Kong, Taiwan and South Korea shut for holidays. Japan's' benchmark Nikkei plunged 1.32%, the Shanghai Composite index was up 0.28%, while the Australian S&P ASX