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
European equity markets jumped on Monday, ignoring the high volatility in Asian stocks and worries over Chinese economy. Germany's DAX index increased 1.13%, the UK's FTSE 100 index rallied 1.09%, while the French CAC gained 1.18%. The pan-European Stoxx 50 index added 1.12%. Among main gainers were shares of commodity trader Glencore, which soared by 12% after company unveiled its
The New Zealand Dollar slipped against the Greenback on Monday, as the US labour data release on Friday showed basically positive results and put more pressure on commodity currencies, even though the US payrolls missed estimates. The NZD/USD pair was traded 0.24% lower at $0.6271 by 07:40 AM GMT. Meanwhile, the Fed's rate hike prospects in September remains on the
Equity markets in Asia turned mostly lower amid choppy trade on Monday, as nervousness among investors prevailed following the concerns over the health of Chinese economy. The Shanghai Composite Index slumped 2.52% after news that the economy in China grew less last year than the market initially thought. Elsewhere, Hong Kong's Hang Seng slipped 0.42%, the Japanese Nikkei advanced 0.38%,
The shared currency edged slightly higher versus the US Dollar on Friday, as market participants are waiting for the US labour data due today. The EUR/USD pair added 0.14% to $1.1137 by 10:11 AM GMT, after reaching session high at $1.1160. Meanwhile, job gains for August in the US are anticipated to stay near the prior month's levels of 215,000,
European markets decreased on Friday as investors turned their attention to the US unemployment data and non-farm payrolls. London's FTSE 100 contracted 1.66% to 6,091.56, French CAC 40 decreased 1.82% to 4,569.29, while German DAX slipped 1.78% to 10,133.84 by 9:40 AM GMT on Friday.
Stocks in Asia declined on Friday, as investors are cautious ahead of the US nonfarm payrolls report that may play a crucial role in the Fed's decision about the timing of the rate hike. The Shanghai Composite Index slipped 0.37%, while Hong Kong's Hang Seng lost 0.45%. In Japan, the Nikkei index plunged 2.15%, reaching its lowest since February. Meanwhile,
Factory orders in the Euro zone's biggest economy plunged in July, witnessing a bigger than expected fall, as the official report revealed on Friday. German industrial orders fell 1.4% in the seventh moth of the year, while economists expected the a 0.6% decrease. In the previous month the revised gauge rose 1.8%. On a yearly basis, the number of orders
Crude futures were traded lower on Friday, as traders wait for the key US jobs data later in the day that could influence the Greenback, as well as commodity prices. Futures for WTI declined 2.15% to $45.92, while Brent futures dropped 2.01% to $49.83 by 07:18 AM GMT. After another week of high volatility, both benchmarks are likely to end
The ECB Governing Council made no changes in interest rates for ninth consecutive meeting on Thursday. Refinancing rate was left at the record low of 0.05% and the overnight deposit rate stayed at negative 0.20%, while the marginal lending rate remained at 0.30%. Moreover, attention moved to Mario Draghi's press conference that will take place later in the session.