Oil futures fell on Friday, with the latest OPEC comments weighing on prices, however both crude benchmarks are likely to book weekly profit. Futures for WTI were traded 1.22% lower at $46.31 per barrel, while Brent futures declined 0.65% to 448.76 per barrel by 07:21 AM GMT. Meanwhile, officials in Kuwait, a key producer of the OPEC, said that they
The Australian Dollar fell versus its US counterpart on Tuesday, as the RBA minutes raised the prospects of further rate cuts and pointed to a long-term weakness in the Aussie. The AUD/USD pair lost 0.17% and was traded at $0.7125 by 07:34 AM GMT, after it reached the session low at $0.7103. Earlier today, the RBA minutes overshadowed the short-lived
Crude prices dropped on Monday, as weakening demand weighed on markets, although the US futures were supported by reduced American drilling. Futures for WTI were traded 0.54% lower at $44.41 per barrel, while contracts for Brent fell 1.16% to $48.46 per barrel by 08:10 AM GMT. Meanwhile, analysts say that the major downside risks for oil come from uncertainty over
Asian stocks showed a mixed performance on Monday, as investors digested a bunch of Chinese industrial data released over the weekend and tread cautiously ahead of the Fed's meeting this week. The Shanghai Composite index dropped 2.67%, while the Hang Seng in Hong Kong added 0.38%. Meanwhile, the Australian S&P ASX index advanced 0.5%, the Japanese Nikkei index fell 1.63%,
The shared currency expanded its gains against the US Dollar, staying well above the $1.13 handle, as the low probability of a rate hike by the Fed in September is likely to put more pressure on the Greenback. The EUR/USD pair advanced 0.27% to $1.1362 by 07:14 AM GMT. Even though the major focus is turned to the upcoming Fed's
The yellow metal was traded in the red on Friday, as it erased all overnight gains and fell below the mark of $1,110 per troy ounce. Gold dropped 0.32% to $1,106 per ounce, after reaching the session high of $1,111 in the early Asian trading. Bullion is on pace for a third consecutive weekly decline, as investors stay cautious ahead
Equity markets across Asia ended Friday's session mixed amid lack of economic releases, and with the focus turning to the approaching Fed's crucial meeting on interest rates next week. The Shanghai Composite index edged 0.07% higher, while the Hang Seng index rose 0.40%. Meanwhile, the Japanese Nikkei declined 0.19%, the Australian S&P ASX lost 0.47%, while South Korea's Kospi dropped
The shared currency rose against the US Dollar on Friday, with traders looking to the US session for incentives, as the release of the German CPI data did not have any considerable impact on the spot. The EUR/USD pair advanced 0.23% to $1.1304 by 07:45 AM GMT. Later in the day, investors will focus on the release of the US
Crude futures fell on Friday, following the weekly stockpiles report from the US, as well as the latest comments from Saudi Arabia. The OPEC's top oil exporter sees no need for an emergency producer meeting to defend oil prices. Futures for WTI were traded 1.81% lower at $45.10 per barrel, while Brent futures dropped 1.43% to $48.19 per barrel by
The Sterling was trading modestly flat versus the Greenback on Thursday ahead of the BoE meeting. The Cable was changing hands around $1.5370 in the early European session, adding 0.08% to $1.5278 by 08:28 AM GMT. The major focus in Europe is turned to the BoE's interest rate decision paired with the minutes due today, while investors will also eye
Stocks across Asia closed mainly with losses on Thursday, as disappointing economic data from China and Japan heightened concerns over the global growth. An optimism that new measures will revive China's growth seemed to be only short lived, as the Shanghai Composite Index dropped 1.45% after rising by 2.3% in the prior session. Elsewhere, the Japanese Nikkei contracted by 2.51%,
Gold halted its fall seen in the previous sessions, standing above the psychological mark of$1,100 per troy ounce, as the bullish mood on stock markets around the world calmed down. The yellow metal added 0.40% to $1,106.40 per ounce by 07:37 AM GMT on Thursday. The recent decline in gold prices was caused by a rally on equity markets and
The New Zealand Dollar tumbled against the US Dollar on Thursday, as the RBNZ reduced the interest rate by 25 basis points to 2.75%, leaving the door open to further cuts. The NZD/USD pair declined 1.54% to trade at $0.6288 by 07:21 AM GMT. The Reserve Bank also announced that the Kiwi remained overvalued, and the further depreciation could support
Crude futures were trading flat on Wednesday, with investors cautious ahead of weekly inventory report. Contracts for WTI dropped 0.28% to trade at $45.83, while Brent futures advanced 0.3% to $49.65 by 08:07 AM GMT. In the early Asian session both oil benchmarks managed to rise on the back of the stock rally, however later gains were dumped by the
The Australian Dollar was traded higher versus its US counterpart on Wednesday, following a speech from the RBA's deputy Philip Lowe, who said that the current low interest rates and the weak Aussie correspond to Australia's economic conditions. The AUD/USD added 0.43% to $0.7046 by 07:51 AM GMT. However, some of the gains were capped by a weak consumer data
Equity markets in Asia soared on Wednesday, as investor confidence got a boost from the weaker Yen, as well from a rally in the US stocks, which helped to overcome the recent unease over China. The Shanghai Composite Index rose 2.32%, Hong Kong's Hang Seng jumped 3.56%, while South Korea's Kospi added 2.96%. In Japan, the Nikkei rocketed 7.71%, offsetting
The Euro zone economy grew more rapidly than previously estimated in the three months to June, as a pickup in exports offset a slowdown in household consumption and a decline in investment spending. The GDP was revised higher to 0.4% from 0.3% in the second quarter, while the estimate for the first three months of the year rose to 0.5%
Stocks across Europe rose on Tuesday, despite disappointing trade data from China. The trading mood and strong gains in energy and banking sectors were boosted by the growth of the Euro zone's revised GDP, which increased by 0.4% in the second quarter. Germany's DAX index surged 2.17%, the French CAC index added 1.88%, while the UK's FTSE 100 index rose
The Australian Dollar erased its post-China data losses and was set higher versus the US Dollar, as speculations that the Fed will refrain from hiking rates next week, pushed the Greenback investors to liquidate long positions. The AUD/USD pair rose 0.76% to $0.6976 by 08:44 AM GMT. Nevertheless, the Aussie remains under pressure by worries over China, which is Australia's
Gold prices are treading water on Tuesday after a four-losing streak, despite the weakening US Dollar. The yellow metal is still hovering near a two-week low, as it struggled to find a direction amid doubts over a looming US interest rate rising. Bullion ticked up 0.10% to $1,119.20 per troy ounce by 08:20 AM GMT. Meanwhile, prospects of the rate
Prices for oil were higher on Tuesday after a massive sell-off in the previous session, as the weaker US Dollar offered some support to the commodity. However, a persisting global oversupply and worries over a slowing Chinese economy limited gains on oil. Futures for WTI rose 1.15% to $44.76 per barrel, while Brent contracts gained 1.04% to $48.12 per barrel
Equity markets in Asia were mostly higher on Tuesday after a six-day losing streak, even though trading was highly volatile, as Chinese imports fell more than expected in August, raising fears over health of the second largest economy. The Shanghai Composite index advanced 2.93%, South Korea's Kospi edged 0.24% lower, while Kong Kong's Hang Seng added 3.19%. In Japan, the
Crude futures extend losses on Monday, as a global supply glut, the stronger US Dollar weighed on a poor outlook for the commodity. Futures for WTI fell 1.43% to $45.39, while contracts for Brent crude dropped 1.30% to $48.97 by 10:53 AM GMT. The trading volume may be thin on Monday due to the celebration of the Labour Day holiday
The Pound advanced against the Greenback on Monday, recovering from a four-month low. However, today's trading is expected to be in a narrow range due to a lack of fundamentals and the US Labour Day holiday. The Cable was trading 0.42% higher at $1.5230 by 08:27 AM GMT, after falling to a fresh four-month low at $1.5156 at the end