The Pound jumped after the British economy grew in line with economist expectations. The UK's Gross Domestic Product rose by 0.7% in Q2, while it grew year-over-year slightly below the market expectations at 2.6%. The main driver behind growth was the service sector, which makes up 78% of the total economic output. The Pound rose 0.35% to 1.4075 against the
Gold stayed around its weakest levels since 2010, despite the cheaper US Dollar, as investors remain doubtful, awaiting the FOMC announcement due tomorrow. The yellow metal traded around $1095 per troy ounce by 06:20 AM GMT on Tuesday. Meanwhile, the Federal Open Market Committee statement will provide traders with more hints on possible Fed's rate hike, which could add more
The common currency declined against the Greenback on Tuesday, after worries over Chinese stock market turmoil spread to Europe. The Euro fell 0.25% to 1.1065 against the Dollar. The shared currency lost 0.2% to 0.7120 against the Sterling, while it traded flat against the Yen at the 136.739 level by 8:10 AM GMT. On Monday, the 19-nation currency strengthened to
Crude prices declined to four-month low on early Tuesday after stocks around the world dropped, following the tumble in Chinese equities. Meanwhile, the concerns of global oversupply still weight the oil market down, however a weaker Greenback helped to balance prices. WTI fell 0.3% to $47.24 a barrel, while Brent September futures went down by 0.6% to $53.13 a barrel.
The New Zealand Dollar jumped during the Asian trading session amid weakening Dollar, as FOMC meeting and GDP data release will occur on Wednesday. The Kiwi soared 0.9% to 0.6664 against the Greenback by 7:25 AM GMT. However, gains were limited after turmoil in Chinese equities continued. The Shanghai Composite declined 1.7% on Tuesday on top of 8.5% slump on
Chinese equity markets continued to slide on Tuesday after losing 8.5% in the previous session, however, rest of the Asian markets showed mixed results. The Shanghai Composite Index fell 1.6% to 3,665 points, the Nikkei 225 slipped 0.1% to 20,329 points, while the Singapore's FTSE Straits Times Index was 0.8% lower to 3,286.62 points. Meanwhile, the Hang Seng rose 0.9%
Equity markets across Asia declined on Monday, as the Shanghai Composite recorded largest single-day plunge since 2007 amid worries over the Chinese economy. The Shanghai Composite lead the way by plunging 8.5% to 3,726 points, the Hang Seng fell 3.2% to 24,321 points, while the Sensex slid 1.4% to 27,711 points. Meanwhile, the Nikkei 225 lost 1% to 20,350 points
The yellow metal prices soared on Monday, as weakening Dollar boosted demand for the precious metal. The gold traded 1.6% higher to $1,103.1 an ounce by 7:20 AM GMT. The Greenback weakened amid the FOMC meeting and the GDP figure later in the week, therefore giving a possible timeline for the rate hike by the Fed. Last week the gold
Crude oil futures traded sideways early on Monday, after previous week's decline amid supply glut and strengthening Dollar. The New York- traded NYMEX fell 0.10% to $48.09 a barrel, while across the pond Brent Crude futures edged 0.1% higher to $54.70 a barrel by 7:00 AM GMT. Analysts believe that oil prices possibly will follow the US Dollar and NYMEX
Stock markets across Europe were in the red on Monday, with US macroeconomic data and the Fed's meeting in focus throughout the week. The FTSE 100 fell 0.2% to 6,564 points, the DAX 30 declined 0.8% to 11,253, while the CAC 40 slipped 1% to 5,006 points. Meanwhile, the Stoxx 600 Index retreated 1.2% to 390 points, the FTSE MIB
The Dollar traded lower against its European and Japanese counterparts on Monday, as investors await the FOMC meeting and the US GDP figure later in the week. The Euro was 0.4% higher 1.1022 against the Dollar, the Greenback slipped 0.2% to 123.4720 against the Yen, while WSJ Dollar Index dropped 0.2% to 88.28 points by 6:50 AM GMT.
Futures of US stock indexes indicated that stocks markets would open higher on Friday amid positive sentiment, after surprising Amazon Q2 earnings. The futures of Dow Jones Industrial Average edged 0.1% higher to 17.699 points, the Nasdaq 100 Index rose 0.3% to 4,636 points, while the S&P 500 futures advanced 0.2% to 2,102.75 points by 10:50 AM GMT. Amazon stock
The 19-block shared currency fell on Friday, as German and French flash manufacturing PMI's for July declined unexpectedly. The Euro lost 0.4% to 1.0940 against the Greenback, while slid 0.3% to 135.662 against the Japanese Yen by 10:25 AM GMT. Manufacturing PMI of the Europe's largest economy for July was 51.5 compared to expected reading of 51.9, while France's manufacturing
Oil futures rose marginally early in the trading session on Friday, however, lost some of its gains after Chinese July PMI figure fell short of expectations. New York-trade Crude advanced 0.5% to $48.71 a barrel, while the Brent Crude futures traded flat at $55.26 a barrel by 8:00 AM GMT. Chinese PMI figure read 48.2 in July in comparison to
Stock markets across the Asia-Pacific regions took a dive after Chinese manufacturing PMI figure disappointed for July, therefore, indicating slowing manufacturing activity. The Asia Dow slipped 0.9% to 3,102 points, the Shanghai Composite slid 1.3% to 4,071 points, while the Hang Seng declined 1.1% to 25,133. Meanwhile Sensex fell 0.3% to 28,292 by 7:45 AM GMT.
Commodity prices of industrial metals hit recent year lows on Friday, as sluggish Chinese PMI data put further pressure on the future outlook for commodities. Three-month delivery copper futures dove 1.6% to $5272.5 a ton, while aluminium declined 1.4% to $1,636 a ton. Moreover, Zinc slid 1% to $1,981 a ton, however, tin jumped 1% to $14,950 a ton by
Gold rallied above the $1,100 level on Thursday, despite the investor bearish outlook on the precious metal, as they believe the Dollar will continue to appreciate. The bullion futures advanced 0.9% to $1,101.9 an ounce by 8:10 AM GMT. On Monday, the yellow metal traded as low as $1,080 an ounce, the lowest level in five years. According to ABN
Stock markets across the Asia-Pacific regions booked mixed results, as investors kept an eye on earnings season and turbulence in the commodity markets. The Shanghai Composite Index rose 2.4% to 4,124 points, the Nikkei 225 edged 0.4% to 20,684 points, while the Hang Seng advanced 0.5% to 25,419 points. Meanwhile, Sensex was flat at 25,503 points and the Australia's S&P/ASX
The Euro traded higher against the US and the Japanese counterparts, after the Greek government voted for second round of preconditions from creditors needed to start negotiating for a bailout package. The Euro rose 0.5% higher to 1.0980 against the Greenback, while it advanced 0.3% to 135.8830 against the Yen by 7:40 AM GMT, however, traders are sceptical whether the
US Crude futures traded below $50 dollars a barrel, after unexpectedly rise of 2.5 million barrels in weekly crude inventories. The US-traded NYMEX edged 0.2% higher to $49.29 a barrel, while across the pond, the Brent Crude futures were 0.1% lower to $56.05 a barrel by 7:20 AM GMT. Moreover, the NYMEX futures have fallen by more than 17% in
The common currency fell against the Pound after Bank of England revealed that all nine committee members voted to keep interest rates at 0.5%. The Euro fell 0.6% to 0.6990 against the Pound by 10:50 AM GMT. Moreover, traders on Thursday will pay close attention to June retail sales in UK, which should see an improvement from May's figure.
Stock indexes in America are set to open lower on Wednesday, after Apple and Microsoft corporations posted disappointing Q2 results for investors. The S&P 500 futures were down 0.4% to 2,106 points, the futures of Dow Jones Industrial Average traded 0.4% to 17,789 points, while the tech-heavy Nasdaq 100 Index fell 1.1% to 4,615.5 points by 10:20 AM GMT. Microsoft
The yellow metal was lower for the tenth straight day on Wednesday, as the Dollar continued to appreciate and its strength has impact on Dollar-denominated commodities. The gold futures traded 1% lower to $1,092.9 an ounce by 8:50 AM GMT. The possibility of a rate hike by the Fed later in the year is pushing the Greenback higher. In addition,
The Pound advanced against the Greenback on Wednesday, as traders in the UK await the Bank of England's meeting minutes release. The pair soared 0.35% to 1.5611 by 8:30 AM GMT, but was trading at 1.5624 shortly after the European stock markets opened. In addition, on Tuesday it was released that the UK government's net borrowing in June decreased to