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
The Pound was trading almost flat versus the Greenback on Thursday after bulls took a breather as risk sentiment stabilizes. The GBP/USD pair edged 0.05% higher to $1.5615 by 08:29 AM GMT. Ahead in the day investors will eye the US retail sales data, which is anticipated to show the slight growth in consumption in July after a modest contraction
The yellow metal slipped on Thursday as the US Dollar firmed. However, the bullion managed to stay near a three-week high as the devalued Yuan raised concerns over the pace of anticipated rate hikes in the US. The prices for gold dropped 0.49% to $1,117.70 by 07:55 AM GMT. Analysts say that if the Fed's takes more cautious approach to
Prices for oil jumped on Thursday amid another fall in the US crude stocks and the devaluation of the Yuan. Futures for WTI rose 0.67% to $43.59 per barrel, while futures for Brent grew 1% to $50.69 per barrel. Meanwhile the EIA lifted its projection concerning global oil demand for this year, however analysts say that China's currency devaluation could
The PBoC devalued the national currency against the Greenback for the third consecutive day on Thursday, trying to align the Yuan's value to its offshore trading value. The central bank of China set the USD/CNY up 1.1% at 6.4010. Moreover, Chinese authorities intend to flood the money market with 40 billion Yuan on Thursday. Meanwhile, analysts anticipate further depreciation of
The shared currency extended its gains against the Greenback on Wednesday, following the traders' optimism on the Greek bailout deal. The EUR/USD pair rose 0.97% at $1.1150 by 11:18 AM GMT, trading around one-moth high. The Euro was mainly supported by the agreement between Greece and its creditors on a new bailout deal, while ignoring risk-off sentiment coming from the
Wall Street was set to open sharply lower on Wednesday as the second devaluation of the Chinese national currency hurt exporters' shares. The DJIA futures declined 1.21%, while those for the S&P 500 slip 0.96%. Carmakers, technology companies, miners and luxury-goods makers are expected to post losses after the PBoC's devaluation move as China is one of their top export
Futures for oil rose, erasing the morning losses amid the weaker US Dollar and fresh inventory data ahead in the day. Crude prices sharply fell on Wednesday after the PBoC devalued the Yuan for a second day, deteriorating China's purchasing power for oil. However, oil prices recovered after the US Dollar lost its strength. WTI jumped 0.79% at $43.42, while
Equity markets in Europe moved lower on Wednesday as Chinese authorities continued with the Yuan devaluation, rising concerns over the growth outlook for the world's second largest economy. The pan-European Stoxx 600 index slumped 2%, the German DAX erased 2.12%, while the French CAC 40 lost 2.27%. Devaluation of Yuan scared many investors to move from risky equities into safe-haven
The data released on Wednesday showed that industrial production in China slowed down to 6% year-on-year in July, missing the estimated 6.6%. Moreover, the growth in retail sales slowed to 10.5% year-on-year. Meanwhile, weak production figures and the fall in the domestic retail sales in China triggered the PBoC for the further Yuan devaluation, in order to support economy and
The Australian Dollar extended its losses and hit 2009 low on Wednesday, as China devalued the national currency for the second day in a row. The AUD/USD pair was traded 0.11% lower at $0.7292 by 07:41 AM GMT. China is one of the biggest Australia's trading partners, while the Aussie has the largest exposure to the world's second biggest economy
The yellow metal prices rose on Wednesday, staying above the psychological barrier of $1,100, as the Chinese national currency continued to slip further. Gold gained 0.77% at $1,116.20 by 07:11 AM GMT. The PBoC devalued the Yuan for the second time this week, adding more pressure on currency markets and sparking interest in safe-haven assets, such as precious metals including
The ZEW survey showed that investors' confidence in Germany deteriorated again in August, despite the stable results in the German economy and successful negotiations between Greece and its lenders on the bailout deal. The ZEW index, one of the leading indicators of economic health, declined to 25.0 in August in Germany, compare to anticipated 31.9 points and the previous month