Gold prices rose on Friday as the stock market turbulence drives investors into safe havens. The precious metal was also supported by the weakening US Dollar, as the Fed is less likely to hike rates in September. Gold advanced 1.03%, trading at $1,164.10 per troy ounce in early trading session, holding slightly below its six-week high. The rapid growth in
The US stock index futures dropped sharply, as oil prices extended losses and traders digested the Federal Reserve's dovish tone in Wednesday's minutes. The ongoing rout in Chinese equities was also among the factors which set the Wall Street to post a third straight day of losses. Futures for the DJIA dropped 0.8%, while those for the S&P 500 index
The Australian Dollar dropped versus its US counterpart on the back of the concerns over the Chinese economy, as equity markets in China continued to shrink this week. Worries over the second biggest economy triggered a risk-off sentiment among traders, dragging lower emerging market currencies, but also the Aussie, which is most dependent on China. The AUS/USD pair slipped 0.59%
The Sterling plunged versus the Greenback on Thursday, following weaker-than-expected sales figures from the UK. The official data reported that the volume of retail sales advanced 0.1% in July after a 0.1% decline in June, missing the estimate of +0.4%. The Cable lost 0.36%, trading at $1.5620 by 09:19 AM GMT. Meanwhile, the weak retail sales data did not support
Stock markets in Asia fell on Thursday, as worries around the world's second largest economy and the cloudy outlook for the timing of a rate hike in the US scare investors off. China's benchmark Shanghai Composite lost 3.4%, South Korea's Kospi was down 1.28%, while the Nikkei Stock Average slipped 0.94% and the S&P ASX 200 dropped 1.70%. Analysts say
Crude futures dipped further on Thursday following the decline in previous sessions, as the unexpected growth of the US oil inventories reinforced fears of global supply glut. WTI futures dropped 0.7% to $40.98 per barrel, while contracts for Brent crude fell 0.59% to $46.88 per barrel by 07:58 AM GMT. A slowing Chinese economy, global oversupply and a firm US
Greece made a €3.4 billion bond and interest payment to the European Central Bank on Thursday. This happened one day before Greece received its first €13 billion tranche from a new bailout package, which was officially approved by the European Stability Mechanism after the votes in the German and Dutch parliaments. Altogether, the third bailout package amounts to €86 billion,
The yellow metal extended its gains, hitting a one-month high on Thursday, as the Fed minutes revealed that the expected rate hike in September is not on the table yet. Policymakers of the Fed are concerned that dwindling US inflation and a struggling global economy place a bigger risk on hiking rates. Gold futures rose 1.09% to $1,139.40, as more
The EUR/USD pair was trading flat on Tuesday ahead of the US housing data due today and the Wednesday's Fed meeting minutes. The shared currency was traded 0.09% lower at $1.1067 by 11:33 AM GMT. For the Euro, the first important data for this week will be published on Friday, with flash manufacturing PMI figures from the biggest European economies,
Wall Street was set to open lower on Tuesday, following the sell-off in Chinese equities over the Yuan concerns. Futures for the DJIA dropped 0.2%, those for the S&P 500 index slipped 0.2%, while futures for the Nasdaq 100 index gave up 0.2%. Looking ahead, investors are waiting for the Fed meeting minutes on Wednesday, which could hint more about
The Sterling soared against the Greenback as the rate of inflation in the UK rose above estimates. The Cable jumped 0.53%, hitting a session high of $1.5668. The CPI figure released on Tuesday showed that the inflation rate increased to 0.1% in July, beating a zero growth forecast, while the core CPI soared above estimates by 1.2% on an annual
Crude futures plunged on Tuesday as a global supply glut, a strong US Dollar and a sluggish outlook for the Chinese economy all put more pressure on oil prices. Futures for WTI dropped 0.74% to $41.56 per barrel, while Brent futures dipped 0.70% to $48.41 per barrel by 08:15 AM GMT. Analysts say the move was largely speculative, driven by
Asian shares fell on Tuesday on concerns that devalued Yuan and cooling demand in China will weigh on the trade-reliant region. The Shanghai Composite Index widened losses to 6.12%, while Hong Kong's Hang Seng Index fell 1.16%. Elsewhere, South Korea's Kospi dropped 0.62%, Japan's Nikkei was down 0.32%, while Australia's SP ASX tumbled 1.20%. Meanwhile, the Yuan stabilised after a
The New Zealand Dollar jumped on Tuesday after Russian Federation partially lifted a ban and allowed 29 New Zealand dairy companies to sell their products to Russia. The NZD/USD pair rose 0.25% at $0.6587 by 07:13 AM GMT. The lift of the ban will give a huge relief to New Zealand dairy sector, which suffered a 70% decrease in global
Despite a lack of news EUR/USD managed to stabilise around 1.1060 and then the rate rallied 30 pips. While there are no major data releases to watch at the beginning of the week, traders will focus on the Greek bailout programme as well as on the US CPI figures and the FOMC minutes in the days ahead. The Euro declined
Indices in Europe were traded mainly higher on Monday as investors watch for progress in concluding the third bailout programme for Greece. Germany's DAX 30 index gained 0.21%, the French CAC 40 index added 0.25%, while the pan-European Stoxx 50 rose 0.19%. However, the FTSE 100 lost 0.2%. The best performer was the stock of Alstom, which jumped 7%, as
The Australian Dollar extended losses versus its US counterpart, as traders are waiting for the US CPI figures and the FOMC minutes, which could determine the timing of the Fed's rate hike. The Aussie dropped 0.13% against the Greenback, trading near $0.7364 at 09:06 am GMT. The Australian currency was also hit by the devaluation of the Yuan, since China
Equity markets in Asia showed mixed results on Monday as relative stability in the Yuan decreased concerns over further China's currency devaluation. The Shanghai Composite Index was up 0.73%, while the smaller Shenzhen Composite rose 0.6%. Elsewhere, the Hang Seng Index declined 0.74%, while South Korea's Kospi dipped 0.75%. In Japan, the Nikkei rose 0.49% as disappointing growth boosted hopes
Gold prices rose on Monday as the recent devaluation of the Yuan in China reinforced the risk-off sentiment on the market, with the yellow metal reaffirming its position as a safe-haven asset. Gold advanced 0.33% at $1,116.30, up from its Friday close at $1,115.30. Meanwhile, analysts say that gold could extend its gains if the Federal Reserve does not hike
Crude futures dropped on Monday as a firmer US Dollar and ongoing global oversupply hamper appetite for crude. WTI futures lost 1.39% to $41.91, while Brent futures dipped 1.18% to $48.61 by 07:13 AM GMT. Meanwhile, concerns on oil global supply glut remain, as the OPEC is likely to boost production to 33 million barrels a day and the US
Equities in Europe rose on Friday as traders cheered the approval of the new bailout deal by the Greek parliament, awaiting the outcome of the Eurogroup meeting. Germany's DAX advanced 0.55%, the French CAC 40 index added 0.60%, while the UK's FTSE 100 was 0.49 higher. Traders will turn their attention to Brussels, where the Eurogroup is discussing the technical
The New Zealand Dollar fell against its American counterpart on Friday after the disappointing retail sales report. Moreover, the Greenback remained firm, pushing the Kiwi close to the six-year low. The NZD/USD pair slipped 0.58% to $0.6528 by 08:09 AM GMT. Core retail sales in New Zealand rose only by 0.1% during the second quarter compared to a 2.3% rise
The futures for WTI crude dropped below $42 per barrel on Friday, reaching a fresh six-year low, as rising oil stocks in the US added to concerns over global supply glut. The US crude was trading at $41.96 per barrel by 04:23 GMT, while Brent futures edged slightly higher at $49.60. Meanwhile analysts predict that slowdown in China's economy, world's
Following a poor start in 2015 Germany's economy showed a better performance in the second quarter, with preliminary GDP registering a 0.4% growth. Europe's powerhouse economy expanded by 0.4% compare to 0.3% growth in the first quarter, while analysts anticipated a 0.5% increase. The main contribution to economy expansion was made by net exports, which increased as the Euro remained