The growth in the UK services sector surprisingly slowed its pace in August, as the PMI reading showed on Thursday. The index of activity declined to 55.6 in August, down from the print of 57.4 points in July, missing the estimates of 57.6 points. Meanwhile, the recent slowdown in manufacturing and services sectors in the UK could weigh on the
European stock markets surged on Thursday amid ECB meeting later in the session. London's FTSE 100 advanced 1.81% to 6,193.43, French CAC 40 gained 1.53% to 4,624.51, while German DAX soared 1.78% to 10,226.79 by 9:00 AM GMT on Thursday. Additionally, Chinese markets were closed for a two-day national holiday after a turmoil in the markets in a recent weeks.
The Sterling dipped below the $1.53 mark as weaker than expected UK's fundamentals were released this week. The Cable retreated 0.19% to $1.5262 by 8:05 AM GMT on Thursday, falling from its daily high of $1.5312. Moreover, great focus this session is on the UK's PMI for services, the main driver of the UK's economy, which is predicted to be
The Australian Dollar depreciated versus its US peer on Thursday, as an abrupt slide in the country's retail sales brought speculations about the possible interest rate cut by the RBA back on the table. Official data showed that retail sales plummeted 0.1% in July, following a jump to revised 0.6% in the preceding month, dragging the AUD/USD currency pair down
Non-farm productivity of US workers increased more than it was estimated in the second quarter of this year amid an improvement in GDP and advance in working hours. The data, released on Wednesday, showed that the productivity climbed 3.3% in Q2, while market estimated a 2.9% climb. Additionally, the output of employees added 4.7%, while they spent 1.4% more hours
The Greenback kicked higher versus the Yen as investors encouraged risk taking on Wednesday after disappointing Chinese PMI data, released in the previous day, drove traders into the safety of the Yen. The US Dollar climbed 0.68% to 120.15 against the Yen by 7:50 AM GMT on Wednesday, trading as low as 119.22 earlier in the day.
European stock markets grew on Wednesday, partly erasing the losses booked in the previous session, although investors still remain worried over the global economic outlook. Germany's DAX advanced 0.64%, while the UK's FTSE 100 index added 0.35%. Among the other indices, the French CAC 40 index rose 0.61%, while the pan-European Stoxx 50 gained 0.56%. Meanwhile, the high volatility persists
The trading session in Asia was volatile on Wednesday amid persisting worries over the health of China's economy. The Shanghai Composite Index slipped 0.2%, while the smaller Shenzhen Composite closed down 2%. Elsewhere, the Australian S&P ASX was flat after weak GDP data, adding 0.1%, the Japanese Nikkei fell 0.39%, while South Korea's Kospi edged 0.05% higher and Hong Kong's
Crude futures slid on Wednesday, following a stronger than expected build in the US oil stockpiles and weaker manufacturing data from both China and the US, which fuelled a further decline in prices. Futures for WTI dropped 1.87% to $44.54 per barrel, while Brent futures slumped 1.47% to $48.81 per barrel by 07:20 AM GMT. Meanwhile, the latest weekly US
The Australian Dollar erased early gains against its US counterpart on Tuesday, as worries over the Chinese economy continue to weigh on the Australian economy. The AUD/USD pair was traded 0.71% lower at $0.7059 by 13:21 PM GMT, after erasing the RBA-led gains amid risk-off sentiment on the market. Earlier today the RBA decided to leave the interest rate unchanged
Canada's GDP contracted in Q2 of this year, making it the second consecutive shrinking in a row. GDP in Canada shrunk 0.5% in Q2, while previous quarter's drop of 0.6% was revised down to a 0.8% decline. Despite the negative growth, the second quarter's decline is better than estimated 1% contraction. Additionally, GDP for June climbed 0.5%, the fastest growth
The Greenback fell against the Yen on Tuesday as weak Chinese data was released earlier in the session, turning investors to look for safety of the Japanese currency. The US Dollar slipped 1.09% to 119.91 against the Yen by 11:25 AM GMT on Tuesday, seen as low as 119.53 earlier in the day, breaching the 120.00 mark.
Stocks in the US were set to open lower on Tuesday, as investors are worried over factory contraction in China and the concerns about growth of global economy. Futures for the Standard & Poor's 500 index dropped 1.97% in the first day of September after the index posted losses of 6.47% in August. Futures for the Nasdaq dived 2.2%, while
The jobless rate in the Euro zone fell more than was anticipated by economists, hitting its lowest since 2012. The data release on Tuesday showed that the unemployment rate across the Euro area hit 10.9% in July, comparing with 11.1% in June. Among the many states of the Euro zone, Greece showed the worst employment situation, while Germany posted the
European shares slipped on Tuesday after China's official PMI, reported earlier in the session, showed the weakest monthly level since 2012. London's FTSE 100 dropped 2.16% to 6,112.96, German DAX fell 2.40% to 10,014.72, while French CAC 40 slipped 2.22% to 4,549.86 by 8:25 AM GMT on Tuesday. PMI dropped to 49.7 in August from 50.0 in the previous month.
The Sterling dropped versus the US Dollar on Tuesday after the release of worse-than-expected manufacturing data from the UK. The GBP/USD was trading 0.09% lower at $1.5325 by 08:50 AM GMT, after falling from the session high at $1.5407. Meanwhile, the manufacturing activity in the UK slowed down in August, as the PMI measure showed the contraction to 51.5, down
Crude futures were in red on Tuesday, giving up their overnight gains, as weak Chinese factory data brought back worries over oil demand from the world's major energy consumer. WTI futures were traded 4.21% lower at $47.13 per barrel, while futures for Brent slumped 4.38% to $51.75 per barrel by 08:34 AM GMT. Meanwhile, traders are still bracing for very
Equity markets in Asia fell on Tuesday, following the disappointing manufacturing data from the world's second biggest economy that fuelled concerns about growth in China and its neighbouring economies. China's official manufacturing PMI for August fell to 49.7, from 50.0 in July. The Shanghai Composite Index dropped 1.28%, the Japanese Nikkei Index closed 3.84% lower, while the Australian S&P ASX
The yellow metal began the new month trading in green as disappointing manufacturing data from China came out earlier in the day, raising concerns over country's future growth. Gold added 1% to $1,143.00 by 8:00 AM GMT on Tuesday. China's official manufacturing PMI dropped to 49.7 in August from 50.0 in July. This is the weakest level since August 2012.
The yellow metal was dragged down over the week, as better than expected data from the US was published, strengthening the Greenback. Gold fell 0.69% to $1,125.30 by 13:05 GMT on Monday. Earlier, the precious metal reached its highest level in seven weeks for a short period of time amid problems in China and rising fears over delayed Fed's rate-hike.
The shared currency extended gains versus the US Dollar, supported mainly by persisting worries over China, which triggered risk-off sentiment in the markets and drove demand for save havens. The EUR/USD pair rose 0.28% to $1.1210 by 08:32 AM GMT, after hitting $1.1261 earlier in the session. Later in the day, traders will eye the Euro zone preliminary CPI figures,
Equity markets in Asia closed lower on Monday on the back of worries over China, as well as on controversial comments over the timing of monetary policy tightening in the US. The Shanghai Composite Index dropped 0.82%, widening its monthly losses to 13.5%. Elsewhere, the Australian S&P ASX fell 1.07%, the Japanese Nikkei lost 1.28%, as the stronger Yen hurt
The recent Asian stock market rout and uncertainty in global financial markets drove more investors into the Japanese Yen, as a safe haven currency. The USD/JPY pair fell 0.41% to ¥121.19 by 07:32 AM GMT on Monday. Meanwhile, trader's attention is mainly turned to the prospects of the rate raising by the Fed, as any signs of higher volatility diminish
Crude futures fell on Monday after the last week's rally, sparked by the rebound in stock markets in China and a drop in US stockpiles. WTI futures dropped 1.46% to $44.60 per barrel, while contracts for Brent crude slid 1.48% to $49.32 per barrel by 07:06 AM GMT. However, despite the steep weekly gains, oil prices are still heading for