Crude oil futures slumped on Tuesday, pausing from Monday's rally, as China devalued the national currency, raising concerns on demand for oil in the second biggest economy. WTI futures slid 0.73% at $44.63 per barrel, while Brent futures fell 0.60% to $50.11 per barrel. The pressure on oil prices also came from the firmer Greenback and trader's cautious expectations of
Equity markets across Europe were in the red on Tuesday, as investors evaluated developments in China and Greece. The European benchmark Stoxx 600 slid 0.5% to 398 points, the FTSE 100 fell 0.5% to 6,700 points, while the German DAX 30 lost 0.8% to 11,507 points. Furthermore, the Spanish IBEX 35 declined 0.5% to 11,260 points, and the FTSE MIB
The yellow metal slipped on Tuesday, amid the strengthening Dollar, after the PBoC decided to depreciate the Renmibi. The bullion futures for December delivery fell 0.3% to $1,100.7 an ounce by 7:35 AM GMT. Appreciating Greenback means that the sentiment is bearish for dollar-denominated commodities. Holders of weaker Yuan will have less purchasing power of commodities therefore, it is likely
Greek officials and internationals lenders agreed on details of the new multi-billion-euro bailout deal on Tuesday after a 23-hour session of talks. The pact is estimated to be worth of 86 billion Euros, however there was no official confirmation of the bailout's size yet. Greek authorities said that they expect the agreement to be approved by parliament before the end
The Australian national currency slipped against the Dollar, after the Chinese government unexpectedly depreciated Renmibi. The Australian Dollar fell 1% to 0.7333 against the Greenback by 7:25 AM GMT. The Aussie suffered, since China is Australia's largest export partner, therefore a weaker Yuan means that the Chinese companies will have smaller purchasing power of Australian goods.
The People's Bank of China decision to devaluate the Yuan caused the global risk-off sentiment, boosting demand for safe-haven currencies - the US Dollar and the Japanese Yen. The shared currency dropped 0.32% against the US Dollar at $1.0975 by 07:06 AM GMT. Meanwhile, the PBoC devalued the nation's currency to its lowest rate versus the Greenback in three years
Currency of the world's second largest economy declined against the Greenback on Tuesday, after the PBoC devalued the Yuan. The Dollar soared 1.9% to 6.3299 against the Yuan by 7:15 AM GMT. The move came after the Chinese exports fell by 8.3% in July, on a year-over-year basis. The Chinese government has become worried over the slowing economy, therefore, a
The Australian Dollar extended its depreciation against the Greenback on Monday amid falling prices of commodities and disappointing economic data from China. The Aussie dropped 0.78% at $0.7360 by 10:27 AM GMT. The main pressure on the Australian currency came from the downturn in commodities, with aluminium and copper hovering around multi-month lows and oil prices continued to slide.
The Dollar rose against the Japanese counterpart on Monday, after traders saw an opportunity from a dip on Friday. The Greenback jumped 0.45% to 124.73 against the Yen by 10:30 AM GMT. Investors bought into the dip after US payrolls reported that 215,000 jobs were added in July, compared to 225,000 expected by market participants. Moreover, Japan's current account shrank
The Canadian Dollar continued to decline against its American counterpart on Monday, approaching to lows reached after positive July's payrolls data in the US last Friday. The USD/CAD pair rose 0.31% at $1.3174 by 09:58 AM GMT. With no data eyed in Canada, traders will focus attention on the Fed's index of labour market conditions, as well as on speeches
Futures of the major US stock indices climbed ahead of the opening bell on Monday, as the Dow Jones Industrial Average eye to break a seven trading session losing streak. The futures of Dow Jones rose 0.2% to 17,356 points, the S&P futures gained 0.3% to 2,079.5 points, while the NASDAQ 100 Index advanced 0.3% to 4,533.25 points by 10:00
The New Zealand Dollar declined against the US counterpart, as traders sold of the pair after Friday's rally. The Kiwi slumped 0.8% to 0.6569 against the Greenback by 9:45 AM GMT. The Dollar bounced back against the Kiwi after it was reported that 215,000 new jobs were added in July and the June's figure was revised higher to 231,000. Thus,
Equity indices across Europe erased its early session gains, as news from large companies' shook up stock markets. The Stoxx 600 fell 0.5% to 395 points, the FTSE 100 declined 0.8% to 6,663 points, while the DAX 30 lost 0.3% to 11,458 points. Furthermore, the Spanish IBEX 35 gave up 0.2% to 11,157 points, however, the Italian FTSE MIB gained
Japan's current surplus saw a decline in June, as domestic investors saw a drop in returns from overseas. The broad gauge of trade decreased to 558.6 billion yen in June, from 1.88 trillion in May. The significant drop in the surplus was primarily caused by income surplus, which fell to 656.9 billion yen from 2.01 trillion yen in May. However,
Equities in Europe opened in green amid more optimism over a new Greece bailout deal and disappointing economic data from China. The Britain's FTSE 300 rose 0.3%, both, French CAC 40 and German DAX were up 0.5%, while the pan-European Stoxx 600 index remained almost flat. European stocks recovered from the slight downturn after the US jobs data boosted expectations of
Equity markets across Asia recorded gains, as investors expect the Chinese government to add further stimulus to prop up its stock markets. The Shanghai Composite jumped 4.9% to 3,928 points, the Sensex rose 0.4% to 28,357 points, while the Nikkei 225 gained 0.4% to 20,809 points. Meanwhile, the Singapore's FTSE Straits Times Index edged 0.2% higher to 3,196.6 points by
The yellow metal edged higher on Monday; however, the precious metal continued to trade below the important $1,100 an ounce level. Strong US non-farm payrolls figure confirmed September as a candidate for a rate hike by the Fed. Nevertheless, the bullion futures rose 0.3% to $1,097.4 an ounce by 7:30 AM GMT. In July, non-farm payrolls added 215,000 jobs, above
The shared currency was traded almost unchanged against the Greenback on Monday, as traders kept focusing on new bailout deal in Greece and the Fed's Lockhart speech. The EUR/USD pair edged 0.07% higher at $1.0974 by 07:15 AM GMT. Meanwhile, optimism among the EU officials is growing, as Greece is more likely to approve new austerity measures.
The common currency traded higher against the Aussie, as the Euro was boosted by hopes of a Greek deal and the Aussie was under pressure by slipping commodity prices. The 19-nation shared currency rose 0.3% to 1.4842 against the Aussie by 7:20 AM GMT. The Australian currency fell, as oil futures declined below the $44 a barrel level and economic
Crude oil futures traded below the $44 a barrel level on Monday, after market sentiment was damaged by economic data from China and the strengthening Dollar. The US benchmark WTI futures slipped 0.3% to $43.72 a barrel, while the European Brent Crude lost 0.1% to $49.19 a barrel by 7:10 AM GMT. Chinese outbound shipments fell 8.3% in July, thus
The stock futures in the US were muted on Friday, as traders kept focusing on the release of non-farm payrolls data as well as unemployment figures. The S&P 500 futures were about unchanged at 4,526, the DJIA futures went up 3 points to 17,378, while those for Nasdaq 100 were flat at 4,526. Meanwhile, analysts say that the upcoming US
The Pound traded sideways against the Greenback, after UK's trade deficit was released and as traders await US non-farm payrolls data release. The Cable was flat at the 1.5517 mark by 9:00 AM GMT. Britain's trade deficit rose to 1,601 million Pounds, mostly due to strengthening Sterling against the European and US counterparts. July payrolls data is expected to show
Bullion was hovering near a five-year low on Friday, on track to extend its losses for seventh consecutive week, gold's longest losing run since 1999. The yellow metal managed to recover above the level of $1,090, reaching the daily high of $1,096.8 by 07:05 AM GMT, but then it resumed the decline. Investors will focus their attention on the US
Equities in Asia traded mixed, as investors wait for the release of the US employment data, which could determine the possible timing of the rate hike by the Federal Reserve. The Japan's Nikkei edged 0.29% higher, Australia's S&P ASX 200 plummeted 2.41%, while Hang Seng rose 0.7%. Meanwhile, stocks in China jumped in sight of new possible support measures from