Oil futures rallied on Friday amid rebound in the Chinese stocks and the weakening Dollar, while investors kept an eye on Iran's nuclear talks. New York-traded NYMEX traded 1.8% higher to $53.70 a barrel and the London-traded Brent Crude rose 1.7% to $59.85 a barrel by 7:20 AM GMT. On Friday, major Chinese equity indexes rallied between two and five
Bank of England decided to leave its policies unchanged amid mixed signals from macroeconomic data and the uncertainty over Greece's future in the Euro zone. England's central bank kept its key benchmark interest rate at 0.5%, which has not changed since March 2009. Economists predict that the Bank of England's first interest rate hike will come in the Q1 of
Chinese stocks rose the most in six years on Thursday, while rest of the stock markets in Asia-Pacific region added modest gains. The Shanghai Composite jumped 5.8% to 3709.33 points, the Hong Kong's Hang Seng Index rose 3.7% to 24,393 points, while the Nikkei 225 gained 0.6% to 19,856 points. Meanwhile, Sensex fell 0.4% to 27,574 points and the Australia's
Stock markets across Europe rose on Thursday, as the Chinese stock market regained some of its losses and the deadline for the Greek talks approached without a deal in sight. The Stoxx 600 soared 1.6% to 379 points, the DAX 30 gained 1.5% to 10,911 points, while the FTSE 100 rose 0.9% to 6,547 points. Meanwhile, the IBEX 35 added
Germany's trade surplus swelled to a record-high in May on increasing foreign demand for German goods. Europe's largest economy's trade surplus rose to 22.8 billion euros from 21.5 billion euros in April, however, economists had forecasted only a surplus of 20.3 billion euros. Moreover, exports increased by 1.7% from previous month to 102.1 billion euros, while inbound shipments rose 0.4%
Bank of England will most probably not raise the rates on Thursday, following the Greek uncertainties and unconvincing domestic economic picture, therefore keeping it at a 0.5% level. UK inflation in May was 0.1%, far from the BOE's target of 2%, meanwhile some concerns about downward pressure are raised by the appreciating Sterling.
Crude futures gained on Thursday, as the Chinese equity markets rallied approximately 5.5% on the day. However, investors are still cautious about the Chinese stock market, crisis in Greece and rising crude reserves. New York-traded WTI rose 1.6% to $52.48 a barrel, while London-traded Brent Crude added 1.1% to $58.02 a barrel by 7:15 AM GMT. During the past week
The Yen traded higher against the Dollar and the Euro on Wednesday, amid turmoil in Greece and selloff in China. The Yen rose 0.5% higher to 134.02 against the common currency while it rose 0.8% to 121.53 against the Greenback by 8:00 AM GMT. Moreover, Japan's current account surplus in May reached 1.8 trillion yen, which is the biggest figure
Gold prices declined to four-month low, as investors chose other safer assets amid the Greek crisis and bear stock market in China. Bullion futures fell 0.4% to $1,147.5 per ounce by 7:30 AM GMT. Analysts stated that the selloff in Chinese equities is pushing commodity prices lower, and the uncertainty over Greece is forcing investors to sell commodities and invest
The shared currency contracted on Tuesday amid deepening political uncertainty regarding Greece. Intraday the Euro zone's currency sank 0.9% to 1.0959, which is the lowest level since June 2015. Nevertheless, the Greenback is also affected by essential US data, while the investors are monitoring the Fed on its decision to raise interest rates September.
Australia's stock markets closed higher on Tuesday with main contributors coming from financial, telecom services and consumer discretionary sectors. The S&P/ASX 200 added 1.94% to 5,581.4 points, while the S&P/ASX 200 VIX showing the S&P/ASX 200 options' implied volatility contracted 11% to 17.8 points.
Stocks in European markets retreat, especially those recognized as vulnerable to Greece's contagion. Italy's and Portugal's stocks sank more than 3.8%, while benchmark indexes lost 2% in Germany and France on Monday. Moreover, half of the 18 stock markets in Western Europe have lost at least 10% of their value from the 2015 highs.
US stocks are set to open lower on Monday, as worries over possible Greek exit from the Euro zone increased. The futures for Dow Jones Industrial Average fell 0.8% to 17,514 points, the S&P 500 futures dropped 0.7% to 2,054 points, while Nasdaq 100 Index was down 0.8% to 4,392 points by 11:40 AM GMT. The selloff occurred after approximately
On Monday, oil futures declined sharply after Greek voters said ‘no' to international creditors' demands for a bailout plan. New York-traded Crude declined 4.7% to $54.26 a barrel, while the London-traded Brent Crude traded 2.9% lower to $58.57 a barrel by 11:15 AM GMT. Moreover, oil prices were affected by high levels of oil-inventories in the US and the possibility
European shares plummeted and the shared currency depreciated, following the Greek voters' elimination of austerity measures, forcing the investors to choose safety of the bunds. The Stoxx Europe 600 slid 0.6% to 381.11 points by 10:30 AM GMT after the index tumbled 3.4% last week. Meanwhile, ten-year government bunds paid 0.73% versus 2.32% and 2.29% on Italian and Spanish bonds
The Swiss statistic's office stated that the CPI for the month of June saw a 0.1% rise, compared with a increase of 0.2% in May. The cost of living decreased 1%, compared to the June of 2014, lower than the market expectation of a 1.2% decline. The strengthening Swiss Franc has had its effects on the Swiss economy, as the
The Euro recovered some of the losses against the Dollar, after Yanis Varoufakis has surprisingly stepped down as the Greek Finance Minister. The common currency traded at 1.1058 against the greenback, or 0.5% lower by 7:30 AM GMT. After the results of the Greek referendum the Euro declined below the 1.10 level, as the the results increase the possibility of Greece's
Bullion spot prices inched up on the London exchange, after the US Bureau of Labor Statistics announced the last month's non-farm payrolls below the expectations, which resulted in the weaker Greenback. Gold was growing 0.4% to $1,167.60 per troy ounce at the start of European trading Friday. Among other precious metals, platinum was trading up 0.5% to $1,084.06 an ounce.
European shares contracted towards the biggest weekly decline in two months, while closely monitoring discussions over Greece referendum. The FTSEurofirst300 fell 0.2% to 1,524.75 by 07:00 AM GMT, in total reaching 3.1% drop for the week. Meanwhile Stoxx600 index retreated 0.1% to 385.01 by 09:45 AM GMT.
Crude-oil prices declined on Friday on US oil production and rig count increased. The New York-traded Crude futures fell 0.7% to $56.54 a barrel, while the London-traded Brent Crude futures slipped 0.7% to $62.13 a barrel by 9:00 AM GMT. The US oil-rig count increased for the first time in 29 weeks, as in the past week oil-rig figure increased
Service sector in France continued to expand in June, as activity growth sped up. June services PMI figure came out at 54.1, compared with May's 52.8, thus providing optimism for further expansion in the sector and in the French economy. This solid PMI figure could suggest that Gross Domestic Product in Q2 might add strong expansion on top of the
Chile's equity valuations are the most attractive since November 2009, as the stocks are cheaper than the rest of Latin America. The MSCI Chile index's price to future earnings ratio is seen at a discount first time in more than five years. Moreover, Latin America's biggest economy is expected to contract 1.3%, while Chile's should advance 2.7% this year.
The Australian Dollar continued to slide against the US Dollar on disappointing consumer spending data and slump in prices of iron ore. The Aussie dropped 0.8% to $0.7571 by 7:45 AM GMT, which is the three-month low, however, above the six-year low of $0.7533. Retail sales in Australia increased by 0.3% in May, compared with the expectation of 0.5%, and
Stock markets in the Asia-Pacific region showed mixed results ahead of the weekend and the Greek referendum. The Shanghai composite continued to slide, as it fell 5.9% on the day to 3,684 points and the Hong Kong's Hang Seng declined 0.5% to 26,163 points. Meanwhile, Nikkei 225 Index added 0.01% to 20,540, the Sensex Index rose 0.5% to 28,095 points,