The second estimate of the UK GDP released on Friday left the growth unchanged at 2.6% year-on-year and 0.7% quarter-on-quarter, meeting the estimates. In the second quarter of 2015 the UK economic was mainly driven by a rise in exports and a strong services sector, which advanced 0.7%. Meanwhile, economists revised their GDP growth prediction for the UK economy for
European equity markets erased early gains and turned red, as investors took cautious approach after a volatile week in global stock markets. The Stoxx 600 opened 0.1% higher, but fell 0.6% shortly after. London's FTSE 100 dropped 0.3%, the German DAX edged 0.9% lower, while the French CAC was down 0.5%. Later in the day, the investors will also eye
The Sterling extended its gains versus the Greenback on Friday ahead of the UK GDP data. The official GDP estimate is projected to show the UK economy grew at a rate of 0.7% in the second quarter of 2015. The Cable added 0.16% to $1.5426 by 07:58 AM GMT. The US data session due today will also attract traders' attention,
Stock markets in Asia rose on Friday, as the solid US economic growth data calmed sentiment and offset concerns about global growth. China's benchmark Shanghai Composite ended 5% higher, following a 5.4% rally on Thursday. Meanwhile, Hong Kong's Hang Seng Index advanced 0.64%, the Japanese Nikkei climbed 3%, while South Korea's Kospi rose 1.56%. Nevertheless, analysts claims that overall sentiment
Crude futures climbed on Friday after the biggest daily rise in six years in the previous session, and are on track to break an eight-week losing streak. WTI futures were trading 1.20% higher at $43.04 per barrel, while Brent crude gained 0.76% to $47.83 per barrel by 07:06 AM GMT. The recent rally in oil prices was mainly sparked by
The economy of the United States expanded more than expected in the Q2 amid strong domestic demand, showing rather solid momentum that would still allow the Fed to raise its interest rates later this year. The official data showed that the country's GDP rose at an annualized rate of 3.7% in the second quarter, much higher than the forecasted rate
Spanish economy continued to expand in the second quarter of this year, as the final GDP figures confirmed on Thursday. The official data showed that the fourth largest economy in the Euro area saw its gross domestic product grow 1.0% quarter-on-quarter during the April-June period, after adding 0.9% in the first quarter of this year. Spanish consumers helped boost the
The shared currency failed to hold early gains versus the US Dollar on Thursday, as the Greenback strengthened across the board, following traders' positive expectations from fresh US data due today. EUR/USD edged 0.06% lower at $1.1307 by 07:59 AM GMT after reaching the session high of $1.3630. Meanwhile, the US GDP report later in the day is expected to
The equity markets in Asia posted gains on Thursday, as a sharp rebound on Wall Street eased fears of prolonged global market rout. In China the Shanghai Composite Index jumped 5.40%, after crashing to a 23% loss over the past five sessions. Elsewhere, the Nikkei was up 1.08%, Australia's S&P ASX gained 1.17%, while South Korea's Kospi advanced 0.73% and
Crude futures climbed on Thursday amid declining US stockpiles and a weakening Greenback, however the US oil benchmark still holds below the psychological $40 level. Contracts for Brent rose 2.82% to $44.35 per barrel, while WTI futures jumped 2.90% to $39.72 per barrel by 06:57 AM GMT. The bullish sentiment was also supported by the recovery in Asian stock markets
The New Zealand Dollar was trading flat against its US counterpart on Wednesday, following the steep decline in two previous sessions, when the Kiwi hit a fresh six-year low. The NZD/USD pair edged 0.49% higher to $0.6501 by 10:05 AM GMT. Later in the day, traders will focus on the release of core durable goods orders from the US, which
The yellow metal failed to hold early gains on Wednesday, despite the further decline in Chinese stocks, as investors do not consider the recent rate cut by the PBoC as a sufficient measure to boost slowing Chinese economy. Bullion was trading 0.1% lower at $1,136.10 per ounce by 08:48 AM GMT. Meanwhile, the outlook for gold prices remains cautious, as
Crude futures were treading water on Wednesday, as the PBoC lowered rates in order to help the slowing economy and calm down the recent turmoil in Chinese equities. However, the concerns about a supply glut still persist, putting more pressure on oil prices. WTI failed to rise above $40 level, trading 0.14% higher at $39.44 per barrel, while Brent crude
Stock markets showed mixed results on Wednesday, with Chinese equities extending the decline, as investors' confidence remained frail despite the fresh monetary stimulus from the PBoC. The Shanghai Composite failed to rebound and closed down 1.3%, after turning sharply lower in the final 10 minutes of trading. Elsewhere, Japan's Nikkei rose 3.2%, the Australian S&P ASX advanced 0.69%, while Hong
The shared currency remained apathetic towards the upbeat reading of Germany's IFO business confidence index. The EUR/USD pair was trading 0.47% lower at $1.1557 by 08:41 AM GMT. Meanwhile, the recent data revealed that sentiment in the German business sector slightly improved in August, as the IFO Business Climate Index rose to 108.3, above the 108 booked in July.
Bullion edged lower on Tuesday after reaching a seven-week high in the previous sessions amid stock market rout. The yellow metal slipped 0.31% to $1,148.90 per troy ounce by 07:55 AM GMT. The signs of recovery in global stock markets after the massive sell-off in tandem with the strengthening US Dollar put more pressure on gold, which attracted many investors
Equity markets in Asia managed to recover from three-year lows on Tuesday amid volatile trading, though Chinese stocks continued to decline. The Shanghai Composite Index slipped 7.63%, while the smaller Shenzhen Composite Index fell 6%. Elsewhere, the Australian ASX 200 advanced 2.72%, Japan's Nikkei dropped 3.96%, while South Korea's Kospi rose 0.92%. Despite the sell-off in Chinese shares, Beijing did
Crude futures rebounded from steep losses on Tuesday ahead of the US weekly inventory report. WTI rose 1.49% to $38.81 per barrel, while contracts for Brent advanced 1.24% to $43.22 per barrel by 07:10 AM GMT. The recent sell-off in oil was mostly sparked by the global supply glut and worries over China, which is one of the leading oil
European stocks opened in red on Monday, as worries over China's slowing economy persist, triggering the sell-off across the global equity markets. Germany's DAX dived 2.74%, the French CAC 40 slumped 2.58%, while the UK's FTSE 100 sank 2.46%. Meanwhile, all the sectors in Germany and France posted losses, with shares of exporters hit the most as China is a
Crude prices tumbled on Monday, following the massive sell-off in global financial markets, as the turmoil in Chinese equity markets reinforced the concerns over the global economic growth. The WTI futures slumped 2.65% to $39.38 per barrel, while Brent crude dropped below $45 for the first time in over seven years, trading 2.51% lower at $44.30 per barrel by 08:04
The shared currency rose against the US Dollar on Monday, as the turmoil in Chinese stock markets raised concerns over the health of the global economy, diminishing the prospects of the rate hike in the US. The EUR/USD pair was seen 0.98% higher at $1.492 by 07:38 AM GMT, trading near its seven-month high. Meanwhile, the analysts expect further strengthening
Stock markets in Asia posted steep losses on Monday, with equities in China hit the hardest amid rising concerns over the health of the world's second largest economy. The Shanghai Composite Index slumped 8.35%, while the Hang Seng index fell 5%. Elsewhere, the Australian S&P ASX 200 dived 4.09%, in Japan the Nikkei Index lost 4.61%, while South Korea's Kospi
The shared currency failed to hold early gains against the Greenback, following the mixed flash PMIs from Germany and France. The French flash manufacturing index for August dipped to 48.6 from 49.6, while the same gauge in Germany rose to 53.2 from 51.8. The reaction of the EUR/USD pair was quite mild, as the Euro edged 0.09% higher to $1.1250,
Crude futures expanded the losses on Friday, heading for a significant weekly losing streak, as the global oversupply and concerns about health of China's economy supported bearish sentiment. WTI futures gave up 1.02% to trade at $40.89 per barrel, while contracts for Brent crude slipped 1.14% to $46.09 per barrel by 08:04 AM GMT. Worries over demand for oil in