Crude oil prices slipped on Wednesday after US stockpiles rose more than expected last week. Futures for WTI for November delivery were down $0.44 to trade at $44.79 per barrel, while Brent futures slid $0.36 to trade at $47.87 per barrel. Traders also expressed their concerns about the economic situation in China due to its effect on oil demand.
Platinum prices tumbled below $900 per ounce and hit the lowest level since January 2009 amid worries over the impact of the Volkswagen emissions scandals on demand. Spot prices for the metal were down 1.3% to $904.30 per ounce after an earlier low of $894. Platinum is about to experience its most considerable monthly loss since September 2011.
The Canadian Dollar dropped versus its US counterpart despite stronger oil prices, as the sentiment was hit by fears over global economic growth and commodities turmoil. USD/CAD advanced 0.2% to $1.3418 by 11:22 AM GMT, after reaching the session high at $1.3431. Ahead in the week, traders will eye the release of the Canadian GDP figure for July, as well
Even though the British Pound seems to be climbing up, it nevertheless struggles to end its downward rally against the Greenback and remain at higher levels. Despite the fact that the cable stays bearish, it hovers above the prior week's low of about $1.5130. On Tuesday, the Sterling gained 0.12% to 1.5190 dollars.
Prices of the yellow metal edged lower on Tuesday, extending the two-day losing streak, while prospects of the 2015 rate hike in the US are still in place. The bullion declined by 0.57% to $1,125.60 per troy ounce by 08:45 AM GMT. Meanwhile, analysts are pointing out that the precious metal failed to confirm its safe-haven status, as it continues
The stock markets in Europe fell on Tuesday, with the global sentiment in the markets weak due to fears over economic growth. Germany's DAX 30 index declined 0.56%, the UK's FTSE 100 index dropped 0.8%, while the French CAC 40 index lost 0.75%. On the corporate front, the mining sector is in focus amid commodities rout. London-listed commodity firm Glencore,
Crude futures climbed on Tuesday, halting a hefty losses of almost 3% in the prior session, however traders remained worried over China's economic slowdown and global supply glut. Futures for WTI grew 0.72% to $44.75 per barrel, while Brent futures rose 0.63% to $47.64 per barrel by 07:21 AM GMT. Meanwhile, experts claim that oil received only short-term support from
The shared currency rose against the Greenback on Tuesday, as the recent turmoil in commodity prices prompted investors to run to save havens, such as the Euro and the Yen. The EUR/USD pair climbed 0.19% to $1.1275 by 07:09 AM GMT. The risk aversion hit the market amid the renewed rout in commodities on the back of a slump in
The BoE is expected to keep its interest rates unchanged until mid-2016 and not raise them anytime soon, which is primarily caused by the gloomy global economic outlook, said CEBR. In addition to that, it is believed that an increase in May or August next year is more possible than in February, as previously projected. The UK economy is forecasted
As reported by Italy's statistical office Istat, confidence in the country's manufacturing sector stepped up in September. More precisely, the Manufacturing Confidence Index increased to 104.2 from 102.7 booked in August, thus, recording the highest level since May 2011. Economists projected 102.7. Meanwhile, the CCI reached 112.7 in the ninth month of the year from August's 109.3, recording the highest
After a week of considerable losses, the Sterling gained 0.12% to trade at $1.5191 against the US Dollar, which is still below the levels of around $1.56 witnessed last week. Aside from the BoE's Deputy Governor for Financial Stability John Cunliffe's speech, all eyes will be on the speeches held by nine Fed officials this week, including Fed Chair Janet
Profits earned by Chinese industrial firms declined 8.8% on an annual basis in August, after a drop of 2.9% recorded in July, said National Bureau of Statistics. Such weak performance was primarily driven by a fall in the prices for industrial goods. Industrial companies' profits with yearly revenues higher than 20 million yuan made 448.1 billion yuan in August.
The shared currency turned bearish and fell versus the US Dollar, as traders are focusing on the upcoming speeches of the FOMC voting members. The EUR/USD pair dropped 0.15% to $1.1173 by 07:46 AM GMT, hovering near daily low. Meanwhile, the US Fed will remain in the headlines with the nine Fed speakers scheduled over the week, while the most
Asian stock markets showed mixed results on Monday, with Japanese shares posting steep losses due to a sell-off in the auto and pharma sectors. However, the trading volumes in the region were light with Hong Kong, Taiwan and South Korea shut for holidays. Japan's' benchmark Nikkei plunged 1.32%, the Shanghai Composite index was up 0.28%, while the Australian S&P ASX
In spite of a decline in US drilling operations for the fourth week in a row, crude oil prices slid lower, with weak economic outlook being one of the main drivers for it. China's industrial profits fell 8.8% in August from a year ago, while industry profits decreased 1.9% from January to August. Futures for Brent dropped $0.47 to trade
The Euro weakened against the US Dollar after Janet Yellen's comment that the Federal Reserve may start its rate hike already this year. As a result, the European currency dropped to present lows of $1.1155 down from the prior $1.1230. During the previous week the policy-setting committee made up its mind to keep interest rates unchanged due to the latest market volatility
Gold prices dropped in Asia, following Federal Reserve Chair Janet Yellen's speech yesterday. She underlined a very likely increase in interest rates by the end of this year, which, in turn, would give a boost to the Greenback. Gold futures for December delivery tumbled 0.4% to trade at $1,149 per troy ounce, whereas December future contracts for silver slid 0.35%
Gold prices slid 1%, while the Greenback recovered amid revived expectations regarding the Fed's interest rate hike for the first time over the last ten years. Gold futures tumbled 0.7% to $1,125.22 per ounce. The biggest fall amongst precious metals was made by platinum, which dropped 3.4% to $932.75 per ounce, after its lowest decline since January 2009 to $929.50.
Stock markets in Europe rose on Wednesday in the choppy trading session amid renewed fears over the health of the Chinese economy. The positive PMI data for France was among the factors which boosted the investor's mood. Germany's DAX 30 index added 1.22%, while the UK's FTSE 100 index gained 1.33%. Among the other indices, the French CAC 40 index
The Japanese Yen consolidated on the downside shortly after the European open on Wednesday, as the US Dollar bulls took control. The USD/JPY pair edged 0.13% higher to ¥120.26 by 08:22 AM GMT. Earlier in the session, the Yen was buoyed by weak Chinese manufacturing data. Meanwhile, analysts say that concerns over China could trigger another wave of risk aversion
Both Australian and New Zealand's currencies experienced their biggest three-day slip over a month due to a sudden fall in Chinese manufacturing data, raising concern about the economy's state. The Aussie slid 0.9% to $0.7025, whereas the Kiwi fell 0.6% to $0.6257. In contrast to that, the Japanese Yen stepped up by 0.4% to 119.74 per US Dollar and by
Equity markets slid deeper into the red on Wednesday after a factory gauge in China shrank more than expected, adding to worries over slowdown in the world's second biggest economy. The PMI measure fell from 47.3 in August to a preliminary 47.0 in September. The Shanghai Composite slumped 2.16%, while Hong Kong's benchmark Hang Seng dropped 2.33%. Elsewhere, the Australian
Due to an abrupt decline in consumer spending along with investment, the Eurozone's second biggest economy did not make any progress in terms of GDP growth in Q2. More precisely, the French economic output booked a growth of 0% in Q2 on a quarterly basis, just after it posted a 0.7% growth in Q1 of 2015. Consumer spending remained static
Crude futures recovered from early losses after weak Chinese manufacturing data on Wednesday, following the decrease in the US oil reserves. Futures for WTI rose 0.93% to trade at $46.79 per barrel, while Brent futures were traded 0.55% higher at $49.36 per barrel by 07:28 AM GMT. Meanwhile, crude stockpiles in the US fell by 3.7 million barrels in the