The currency pair was seen at its two-month low and an additional decrease is expected in case the economic output of the UK meets forecasts. During the European morning session there was minimal volatility and the cross consolidated at around £0.72. Later today, the preliminary UK GDP estimate for the third quarter is due and is expected to be down
After the release of the German Ifo Business Climate Index for October, which appeared to be somewhat better than that of the previous month, the Euro proceeded higher. The EUR/USD currency pair changed hands on the upside after a sharp decline witnessed during the end of the prior week, stepping up 0.24% to reach $1.1038. The single currency fell to
Europe's number one economy's business sentiment revealed a decline in the tenth month of the year, the first time in the last four months. The Ifo Business Climate Index fell to 108.2, below 108.5 booked in September, however, beyond the expected figure of 107.8. The present assessment sub-survey recorded 112.6 points in October, after the prior month's 114 points, while
The New Zealand Dollar jumped up against its US counterpart due to the currency's recovery from the Bank of China's surprising announcement of an interest rate cut. The Kiwi reached $0.6793 during Monday's early European session, which was the session high. Following that, the currency pair was up 0.30% changing hands at $0.6772. Compared to the Euro, the Kiwi was
Prices for crude oil stayed weak on Monday due to a slowing demand outlook implying that an excess of supply will persist for the next months. WTI futures for December delivery were $0.14 higher to trade at $44.74 per barrel. Brent futures for delivery in December were also up by $0.14 trading at $48.13 per barrel. The oversupply in oil
The continuous weakening of the Greenback keeps boosting both the Euro and the British Pound, pushing the currency pairs to higher levels. At the current moment, EUR/GBP gained 0.06% and trades at around £0.72, having recovered from the lows of 0.7183. The EUR/GBP pair stepped up from 0.7169 hit on Friday. Later today, the release of the German Ifo data
Crude futures dropped on Wednesday, following a bigger-than-anticipated growth in the US oil reserves, with traders also waiting for the OPEC meeting in Vienna. Futures for WTI fell 1.71% to trade at $45.50 per barrel, while contracts for Brent were traded 1.35% lower at $48.05 per barrel by 07:30 AM GMT. Crude stocks in the US jumped by 7.1 million
Investors bought the shared currency on Tuesday and it was seen rising against the US Dollar, even though the data session in the Euro zone revealed unsatisfying figures for the current account and the German PPI. EUR/USD advanced 0.29% to $1.1356 by 09:20 AM GMT. Concerning the economic data, the current account in the Euro area for August dropped notably
The New Zealand Dollar advanced against its US counterpart on Tuesday ahead of Fonterra's dairy auction, which will be followed by a public speech of Fed's Chair Janet Yellen. The NZD/USD pair added 0.76% to trade at $0.6837 by 08:05 AM GMT, recovering from Monday's low of $0.6780. The Kiwi benefited from rising prices of dairy products, as New Zealand
The Australian Dollar jumped against the Greenback on Monday, as the Chinese economic growth slowed lesser than were anticipated in the third quarter. The AUD/USD pair advanced 0.59% to $0.7304 by 08:27 AM GMT. The better-than-expected headline number from the world's second biggest economy also improved the economic outlook for Australia, as the trade with China continues to contribute more
Equity markets in Asia were mixed amid choppy trade on Monday, as the GDP data from China showed that the world's second largest economy cooled lesser than expected. The Shanghai Composite Index dropped 0.11%, while Hong Kong's Hang Seng slipped 0.05%. Elsewhere, the Japanese benchmark Nikkei fell 0.88%, the Australian S&P ASX edged 0.03% higher, while South Korea's Kospi index
Crude futures edged lower on Monday after a mixed report on China's economic data, with ongoing worries about the global oversupply continue to weigh on traders' mood. Futures for WTI declined 0.49% to $48.04 per barrel, while contracts for Brent were traded 0.5% lower at $50.21 per barrel. Meanwhile, China's economy expanded 6.9% in the third quarter, beating estimates for
The shared currency failed to rise above the threshold of $1.14 on Friday and slipped down, as traders are focusing on the upcoming CPI data from the Euroland. The EUR/USD fell 0.25% to trade at $1.1358 by 08:22 AM GMT. In the previous session the Greenback was boosted by upbeat core CPI data from the US, while Europe's CPI figure
Asian equities cruised higher on Friday, following the encouraging lead from the Wall Street, while expectations of further stimulus from Beijing and Tokyo also improved investors' mood. The Japanese Nikkei rose 1.08%, the Shanghai Composite Index advanced 1.62%, while Hong Kong's Hang Seng added 0.74%. The Australian S&P ASX closed 0.73% higher, while South Korea's Kospi index edged 0.15% lower.
Crude futures was trading elevated on Friday, as traders bet declining US oil production may decrease a global supply glut. However, both benchmarks are heading for weekly falls. Futures for WTI advanced 1.49% to $47.06 per barrel, while Brent futures added 1.17% to trade at $50.31 per barrel by 07:29 AM GMT. Friday's recovery was also sparked by comments from
The Australian Dollar dropped against its US counterpart on Friday, following the RBA's review of financial stability, which pointed to higher downside risks in domestic housing and mortgage markets. The AUD/USD pair slipped 0.4% to trade at $0.7295 by 07:20 AM GMT. Meanwhile, the latest economic data from Australia, including the jobs report, added to the rising speculations that the
The yellow metal edged up to reach its three-and-a-half-month high on Thursday, benefiting from the diminishing prospects of the rate hike in the US in 2015. Futures for bullion added 0.47% to $1,185.30 per troy ounce by 08:50 AM GMT, after hitting $1,190 per ounce on Tuesday, its highest level since June 22. Later in the day, investors will monitor
Equity market in Europe opened higher on Thursday, as sluggish economic data from China and the US is likely to keep the Fed from hiking rates this year. Germany's DAX 30 index edged 0.99% up, while the UK's FTSE 100 index advanced 1.03%. Among the other indices, the French CAC index gained 0.88%, while the pan-European Euro Stoxx index increased
Oil futures edged lower on Thursday ahead of the US crude inventory report that may show a huge rise in oil reserves. Futures for WTI fell 0.86% to $46.26 per barrel, while contracts for Brent declined 0.31% to $49.50 per barrel by 07:56 AM GMT. Meanwhile, oil prices remains under the pressure, as concerns about slowing demand and persisting global
Disappointing US data boosted speculation that the Fed will not hike rates in 2015, triggering traders to reduce the Greenback longs. Meanwhile, the safe-haven Yen benefited from the growing uncertainty around the timing of monetary policy tightening in the US. The USD/JPY pair dropped 0.42% to trade at ¥118.35 by 07:35 AM GMT. Ahead in the day, investors will eye
The Sterling advanced versus the US Dollar on Wednesday after the data from the UK showed that wages rose less than was initially anticipated, but the unemployment rate dropped further to the lowest level since 2008. The Cable dropped to $1.5283 right after the data release, however it managed to recover back above the $1.53 level to a new session
According to the official report on Wednesday, consumer prices in France posted a 0.4% monthly drop in September, reversing August's 0.3% increase, while on a yearly basis inflation remained flat. Meanwhile, experts and markets are now waiting for the further ECB moves, including possible expansion of the QE program, aimed to combat the low inflation around the Euro zone.
Equity markets across Asian declined on Wednesday after the official data from China revealed that consumer inflation cooled more than anticipated in September, adding to concerns over the world's second largest economy. The Shanghai Composite dipped 0.95%, while Hong Kong's benchmark Hang Seng dropped 0.89%. Elsewhere, Japan's Nikkei index plunged 1.89%, the Australian S&P ASX fell 0.11%, while South Korea's Kospi index
The shared currency benefited from investors' worries over Chinese growth and advanced versus the US Dollar, however the recent slowdown in German economic sentiment limited gains. The EUR/USD added 0.35% to trade at $1.1417 by 07:19 AM GMT. The single European currency proved its safe-haven status, as it extended gains amid another sell-off in Asia after disappointing Chinese CPI data.