Pound rises on speculation that sell-off was excessive

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Source: Bloomberg
© Scanpix/AFP
The British Pound rebounded from a 3-year low on speculation that recent decline was excessive. The currency dropped yesterday as the data showed that U.K. manufacturing shrank, indicating weakening recovery. The Sterling jumped 0.1% to 1.4881 per U.S. Dollar, while it was virtually unchanged against the Euro and traded at 85.94 pence.
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Wed, 10 Jul 2013 09:03:06 GMT

Gold falls first time in three days on China, ahead of Fed minutes

Gold dropped as Chinese overseas sales declined more-than-forecast in June and as investors expect minutes from the Federal Open Market Committee's meeting previous month on speculation the central bank will start to taper bond purchases. Spot gold retreated 0.6% to 1,244.03 per ounce and the August Bullion contract remained steady at $1,246 per ounce.

Wed, 10 Jul 2013 08:25:06 GMT

European Index futures fall on China recession worries

European stock-index futures declined, showing the Stoxx Europe 600 Index will retreat from its highest level in about a month, as data indicated Chinese overseas sales and inbound shipments declined more-than-predicted. Euro Stoxx 50 Index futures maturing in September dropped 0.2% to 2,655.

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