The British Pound climbed against the Greenback, reaching the weekly high, as traders move away from the U.S Dollar, anticipating weak U.S GDP data for the second quarter. Additionally, experts watch closely CBI report on national retail and distributional sector numbers, which are predicted to surge to +27 points in August from +21 points seen in July. The Sterling advanced
The Yen gained against the Greenback after disappointing performance of the U.S. shared and before negative expectations regarding the U.S GDP numbers for the second quarter due to poor investments and inventories data. Stronger Yen caused a decline in exports, while Nikkei gave up 0.48%. Experts are now focusing on the industrial production and inflation figures for July to be
Wall Street experienced a sluggish trading day on Wednesday as the S&P 500 slowly crept up to a further record high. However, some of the stocks were highly traded after their earnings reports. Notably, Express leaped 12.7% and closed at $16.45, while Best Buy added 6.3%. Overall, the Dow Jones and the S&P 500 were little changed at 17,122.01 and 2,000.12, respectively.
The Australian Dollar edged up against the Greenback, reaching the three-week high after better-than-expected capital expenditures numbers were released. The Australian Bureau of Statistics recorded an increase of 1.1% in capital expenditures during the second quarter, beating the market expectations by a wide margin. Nonetheless, experts predict investments in mining sector to decrease next quarter. Volatility is expected to rise after
The shared currency advanced against the Greenback after reaching the eleven-month low as a result of the Fed Governor speech at the Jackson Hole Symposium. The Euro gained after German Finance Minister Wolfgang Schaeuble commented on Mario Draghi's speech, calling the fiscal policy topic 'over-interpreted'. Experts are predicting more movement from the EUR/USD pair tomorrow, after Germany is scheduled to release
WTI and Brent prices declined as concerns about oil-production vanished, which made traders abandon their longs. The October contract for the Texas light sweet was 0.35% lower and traded at $93.56 a barrel. Brent for the same month lost 0.15% and was at $102.57 a barrel. With supply data showing a smaller inventories decline than expected at 944,000 barrels fuel inventories increased by 1.25
The Canadian Dollar climbed up against its U.S. namesake to the four week high after the news on the Burger King and Tim Hortons multi billion dollar deal came out. The major deal, backed by the world's famous investor Warren Buffet, boosted demand for the Loonie, helping it to gain 0.72% to end at C$1.0870. Additionally, investors are anticipating Canadian
The Australian Dollar climbed to a three-week high as capital expenditure showed an improving outlook for the economy by increasing 1.1% last quarter. With the Aussie rising 0.2% against the US Dollar and the pair trading at 93.57 overall for the month the AUD/USD pair has gained 0.6%. Meanwhile, the Euro also gained against the US Dollar and was trading at 1.3210.
The Japanese Yen gained against the Greenback, rebounding from the seven-month low after the Dollar bulls backed off. Experts forecast positive numbers on soon-to-be released Consumer Price Index, predicting Japanese industrial production to climb 1%, following a sharp decline of 3.4% a period before. Revised inflation numbers predict contraction to 3.4% on a year-to-year basis, from 3.6% expected before. The
The British Pound inched up against the U.S. counterpart after hitting five-month low as traders move attention to the upcoming U.S growth data and U.K interest rate speculations. The Sterling experienced additional pressure after approved mortgage lending number fell in July. Nonetheless, traders keep focus on a possible interest rate hike by Bank of England till the end of the
The New Zealand Dollar gained against the Greenback after reaching six-month low caused, as experts explain, by Reserve Bank of New Zealand intervention. Experts predicted even further RBNZ attempts to decrease high value of the Kiwi, as a way to fuel the export demand in the light of declining fundamentals and negate the negative effect of declining dairy prices (40%
The Canadian Dollar has nudged against the U.S Dollar ahead of the anticipated numbers on Gross Domestic Product estimates for both nations. Although the Greenback benefited from increased demand earlier last week, mainly caused by better then expected job numbers and improvements in U.S equity markets, experts revised GDP expectations with a 0.1% drop to 3.9%. Additionally, the Canadian GDP
The Australian Dollar surged against the Greenback after numbers on durable goods orders were released earlier this week. The earlier numbers reported an increase of 22.6% in durable goods, or 0.8% drop in case aircraft orders excluded. Additionally, experts explain the phenomena by increased numbers of investors willing to diversify after the safe haven Yen reached six month low. Nonetheless,
The biggest European banks are putting trillion dollar worth bad assets for sale, as tougher capital requirement rules limit banks from issuing new loans. According to experts, toxic assets such as loans and under-performing operations climbed by 65% surpassing the $1.7 trillion mark. Furthermore, banks have already sold loans backed up by property for over $50 billion in the six
The Canadian Dollar gained against the Greenback after trading at four month low, reached following a hawkish Janet Yellen's speech at Jackson Hole Symposium and disappointing commodity price numbers including decline in crude oil and gold prices, which gave additional boost to the U.S Dollar. The Loonie is having a rather light week with no major news scheduled until Friday, when
The British Pound continues to stay at the five month low against the Greenback after the speech of the Fed Chair Janet Yellen at the Jackson Hole Symposium and the disappointing number of approved housing mortgages numbers in the U.K. The approved mortgages declined to 47,297 missing the economists' expectations by a wide margin. Nonetheless, the approvals gained 12% in
U.S services sector expansion rate is slowing down, as the Purchasing Managers Index fell down to 58.5 in August, its lowest point since May. Although services sector is experiencing substantial growth rate, experts suggest that it might have lost the momentum after reaching pre-crisis level in July. Nonetheless, experts remain positive and forecast PMI to inch up to a 59.5
The U.S new-home housing market is experiencing unexpected decline in the month of July against experts' forecasts, contracting by 2.4% to 412,000 units. Although the costs of borrowing remain at historically low levels, potential buyers were winded up by tight credits and slow wage growth, experts explain. Furthermore, sales of previously owned accommodations have inched up fourth month in the
The British Pound has been climbing high since last year, gaining overall 13.64% against the Greenback. The significant increase was stimulated by economic growth well ahead of the expectations, poor macroeconomic data from the U.S side and a hawkish tone of the Bank of England. Although few U.K manufacturers report decline in export numbers, experts explain the phenomenon by sluggish
The Japanese Yen nudged higher against the Greenback after overriding seven-day continuous slip. The Yen gained against all but one major trading peers, as investors seek haven currency in the light of the upcoming Russian president Vladimir Putin and Ukraine president Petro Poroshenko meeting. Additionally, the latest negative Euro zone and New Zealand numbers supported demand for the Japan's currency. The
The Euro zone's currency is down to the 11-month low after the Janet Yellen and Mario Draghi speech at the Jackson Hole Symposium last Friday. As Janet Yellen provided some ground for speculation regarding possible future U.S interest rate hike and Mario Draghi expressed concerns over slow inflation, the Euro-bulls left the shared currency at a $1.32 level. Experts are
The Canadian Dollar started this week with a gap-down against the Greenback, after Fed Chair Janet Yellen's positive words concerning U.S economic recovery provided grounds for Dollar bulls. The Loonie has hard-data week schedule ahead with second quarter GDP data report this week. Experts forecast an annual increase in Canada's GDP by 2.6%, as well as economics expansion by 0.2%
The Australian Dollar inched up this week towards 3-week peak after it reached a 2-month low against the Greenback, as the economic calendar for the Aussie this week is rather light. The Aussie started this week with a small slide in Asia, after the Fed Chair Janet Yellen discussed the prospects of the U.S. recovery. Nonetheless, a lack of major
The British Pound has been experiencing a continuous 7-week-long slip against the Greenback, as uncertainty over Bank of England plan to hike interest rate in the near future pressures the Sterling. Furthermore, the July's muted inflation report puts more weight onto the currency. Nonetheless, the Credit Agricole experts remain bullish regarding the Pound's future. The experts predict the BoE to