On Wednesday, the Office for National Statistics published the labor data in the UK for February, reporting that amount of claiming job-seekers declined by 18, 000, which is better than forecasted -8, 800. Average Earnings Index soared to 2.1%, while unemployment rate remained unchanged at 5.1%. Sterling did not show notable reaction and held at £0.785 against the Euro.
The Business Survey Index of big manufacturers in Japan dropped to -7.9 in Q1 2016, greatly away from analyst expectations of 4.2 and making it the worst reading since June 2014. The main drivers of this fall were weakening global economic situation and the Yen's appreciation, thus making a fall in demand for Japanese products.
The single European currency extended earlier gains crossing the $1.06 handle amid a set of manufacturing PMIs that demonstrated positive results. The Euro edged up to its intraday highs at around 1.0618 following the release of Germany's PMI data for November that expanded to 52.9. Euro Area PMI matched expectations coming in at 52.9, while German jobless rate fell to
Bullion prices moved up around 1%, rising from almost six-year lows on short covering and as the Greenback slipped from its multi-months highs. Spot gold jumped to the session's high at around $1,074.34 per ounce, before trading up 0.7% at $1,071.40. It gained 0.5% on Monday. The major impacts on gold prices this week are expected to be the ECB's
Retail sales in Germany surprisingly fell in October posting worse-than-expected results. Measured in yearly terms, retails sales increased 2.1% from 3.5% in the previous month, while on a monthly basis retail sales dipped 0.4% in October, down from zero growth booked in September. Analysts had forecasted sales to fall by 0.2%. In the first ten months of the year, retail
After a relatively quiet ending of the prior week on the global markets, the present week has a number of data sets to offer, such as the ECB's decision, the ruling of the IMF on the Chinese Yuan, Fed Chair Janet Yellen's speech, and US nonfarm payrolls. The EUR/USD currency pair remains pressured on the monetary policy decisions of the
Crude prices were below $42 on the final day of November, just after the weekly gains booked during the previous week. Futures for WTI for January delivery climbed $0.10 to trade at $41.81 per barrel, while Brent futures for January delivery dipped $0.06 to reach $44.80 per barrel. Prices for both of the benchmarks have declined by around 10% in
The Euro Area's current account surplus recorded a huge rise in September, ECB data reported. The seasonally adjusted current account booked an increase in its surplus reaching €29.4 billion from €18.7 billion in the previous month. That was the highest level in the last 8 months, when the surplus accounted for €30.6 billion. Non-seasonally adjusted, the current account totalled €33.1
The shared European currency has left its session top versus the US Dollar and descended to the 1.0670 region. More precisely, the currency pair moved 0.12% to reach new session lows at 1.0670, after it faced rejection around the area of 1.0715. The FOMC minutes on Wednesday showed that the Fed is about to lift interest rates by the end
Crude oil prices climbed up on Thursday amid a small increase in US oil stockpiles. US weekly crude oil inventories increased by about 0.25 million barrels, noticeably below market forecasts of over 2 million barrels. Futures for WTI for December delivery edged up $0.19 to trade at $41.05 per barrel, while Brent futures for delivery in January rose $0.40 to
Gold weakened again and hovered near its lowest level over the last five years ahead of the US inflation data release later today and growing expectations of an interest rate increase in December. Spot gold dipped $3.95 or 0.4% to trade at $1,078.46 per troy ounce. US gold fell 0.6% to reach $1,077.50. Elsewhere in metals trading, palladium was down
Consumer inflation in the UK stayed in negative territory for the second month in a row in October, highlighting worries over deflationary pressures. Prices dropped 0.1% from a year ago, the same as in the preceding month and in line with analysts' forecasts. Core inflation that excludes energy prices and volatile food advanced to 1.1% from previously 1%. The BOE
Europe's shared currency extended losses against the Greenback for the fourth consecutive month and hit fresh lows. The currency pair dropped 0.28% to reach its 7-month low of 1.0656. The EUR/USD pair remains under pressure due to the effects caused by the Paris attacks on the Eurozone's economic outlook. Investors believe that the ECB has to further expand its economic
Crude oil extended gains on Tuesday, moving further away from its two months lows witnessed during the previous week. In spite of the increase, economists stated that prices would remain low for the rest of the year due to the oil markets still being strongly oversupplied. Futures for WTI edged up $0.12 to trade at $41.86 per barrel, whereas Brent
Following the Paris attacks on Friday, demand for gold moved up, as the metal regained its role of a safe-haven asset that is perceived by traders as less risky during times of uncertainty and turmoil. The bullion added 1.2% to trade at $1,094.44 per ounce. However, economists cautioned that these gains are probably only of short-term character due to a
The Euro fell to its six-and-a-half month low versus the US Dollar and the Japanese Yen after the deadly terror attacks in Paris. The single currency tumbled 0.5% to $1.0710, moving towards the prior week's six-and-a-half months low of $1.0674. The Euro also slipped against the Japanese currency, hitting a low of 130.645 Yen, the lowest level since April 29.
Prices for the yellow metal edged higher on Tuesday, adding minor gains. However, the bearish sentiment remains amid increasing expectations of a Fed rate hike by the end of this year. Gold for delivery in December jumped up $0.40 to reach $1,088.10 per troy ounce. The trade ranged between $1,087.40 and $1,094.90. Trading stays tame due to investors' anticipation of
The British Pound slipped against the other main currencies in European morning session. The UK currency moved down to 0.7128 versus the Euro and 1.5134 against the Swiss Franc, off its previous highs of 0.7107 and 1.5189, respectively. The Sterling fell to 186.05 against the Japanese Yen and 1.5092 versus the US Dollar, from its prior highs of 186.47 and
According to the latest IEA report, oil markets are slowly rebalancing and crude prices are recovering. The Agency forecast the oil prices to be in the $80 per barrel range by 2020, with further price increases thereafter. The IEA stated that demand would gradually rise to 2020, adding on average about 900,000 barrels per day on year and moderately increasing
The shared currency was witnessed marginally lower against the Greenback, primarily driven by a possible rate increase in December. The Euro edged 0.07% lower reaching $1.0743. The single currency had tumbled to $1.0707, the lowest level since April, just after outstanding US employment data. Due to the European calendar offering rather minor data, it is not likely that it will
Prices for gold managed to add some gains during the week's last trading day, however, stayed near its seven-week low pressured by a stronger Greenback and the rising likelihood of an interest rate hike by the Fed. Gold futures for delivery in December jumped up by 0.40% to trade at $1,108.60. As to other metals, silver futures for delivery in
The British pound extended losses and dropped to its one-month low against the Greenback after the most recent report on the British manufacturing and industrial production data for September, which came in weaker than expected. Following the release, the GBP/USD currency pair moved 0.45% down to reach $1.5140, its lowest level since October. Investors are now anticipating the release of
Crude oil was trading in positive territory after considerable losses made in the previous session, with the bearish sentiment still driven by the global excess of supply. Futures for WTI for December delivery rose $0.34 to trade at $45.54 per barrel, while Brent futures for December delivery climbed up $0.27 trading at $48.25 per barrel. Prices for the two benchmarks
Prices for the yellow metal held near a one-month low as the Greenback rose to a three-month high and gold looked vulnerable to additional losses after Fed Chair Janet Yellen pointed at the possibility of an interest rate hike in December. Spot gold edged down 0.12% to trade at 1,107.00 per troy ounce in London. As to other precious metals,