The gauge of service sector in the UK came out at 57.4 in July, pulling back from last month's 58.5, and below expectations of 58.1. However, the PMI measure stayed above 50, showing expansion in the sector for the thirty-first month. The service sector continues to prop up the UK economy, accounting for 78% of total GDP, and was the
Stocks in Asia broadly rose on Wednesday after the measure of services sector in China reached a near one year high. Japan's Nikkei gained 0.5%, South Korea's Kospi edged up 0.1%, while Hang Seng in Hong Kong rose 0.4%. However, the stocks in China continued to decline despite the positive sentiment in services sector. The Shanghai Index dropped 1.7%, while
Prices for oil rose on Wednesday amid the expectations for a fall in the US stockpiles. Moreover, positive sentiment towards crude was also boosted by an increase in Chinese services PMI. WTI was up 0.72% at $46.04 per barrel, while Brent rose 0.8% to $50.73 per barrel by 08:03 AM GMT. However, the firm Greenback erased potential gains for oil,
Stock markets in Europe edged lower on Tuesday, following weak reporting results from European companies and concerns about health of Chinese economy. The pan-European STOXX fell 0.6%, while both the German DAX and the French CAC 40 edged slightly lower with BMW and Credit Agricole among the worst performers. Meanwhile, the Athens equity market slumped 4% after a 16% plunge
The common currency advanced marginally against the Dollar, as the lack of economic data released on Tuesday limited movements by the pair. The Euro rose 0.1% to 1.0965 against the Greenback by 8:40 AM GMT. Traders remained calm, as they await economic figure packed Wednesday, when the US trade balance, ISM Non-Manufacturing PMI, and the Crude oil inventories figures will
The yellow metal was traded higher on Tuesday, breaking three consecutive sessions of decline, after slightly disappointing data from the US showed that rate hike is less likely to happen in September. The futures for gold rose 0.07% at 1,090.00 per ounce by 08:25 AM GMT. Meanwhile, analysts claim that the Federal Reserve may take more cautious approach and postpone
The EUR/GBP pair traded sideways on Tuesday, as traders await construction PMI figure from Britain. The Euro was 0.05% higher to 0.7032 against the Sterling by 8:10 AM GMT. Market watchers expect the construction PMI figure for July to improve to 58.5 from 58.1 in June. This UK data release is just one of series this week, therefore, the Pound
Equity markets in the world's second largest economy advanced, after new restrictions imposed by the Chinese government limited short selling. However, rest of the markets in Asia experienced losses. The Shanghai Composite jumped 3.7% to 3,757 points, while the Hang Seng edged 0.1% lower to 24,392 points. Furthermore, the Sensex lost 1% to 27,890 points, and the Nikkei 225 fell
The Australian Dollar jumped against the American counterpart, as the Reserve Bank of Australia left interest rates unchanged at 2% and showed its satisfaction of Aussie's current value. The AUD/USD pair rose 1.29% to $0.7383, extending its gains to 12-day high. The RBA Governor Glenn Stevens added in his statement that the Aussie is close to its fair value, however
According to official data, the number of unemployed fell by 74,000 in July, while market participants expected a decline of just 44,500. This is a further indication that the jobs market and the economy in Spain is recovering, as unemployed figure dropped by 94,700 in June. Moreover, unemployment rate in Q2 of 2015 fell by 1%, although youth unemployment remains
Crude oil futures surged on Tuesday, after prices dropped almost 4% during Monday's trading session. The WTI futures for September delivery rallied 0.9% to $45.58 a barrel, while the European Brent Crude advanced 0.6% to $49.78 a barrel by 7:20 AM GMT. Crude futures rose, as investors await weekly inventory data from the past week, which could have significant impact
The Sterling stayed calm against the Greenback after the better-than-expected manufacturing PMI data came out in the UK. The Cable was trading flat at $1.5615 by 08:48 AM GMT. Ahead in the day, the US manufacturing and spending data are awaited. Change in consumer spending in June is expected to decline to 0.2% compared to 0.9% in previous month, affecting
On Monday, the Greek stock market saw massive losses after trading resumed, amid political uncertainty and a lack of confidence among investors. The Athex Composite Share Price Index slid 20% to 635.59 points by 8:45 AM GMT. The Greek market opened for trading for the first time in five weeks. The National Bank of Greece declined 30%, while other Greek
Equity markets in Asia were in the red on Monday, as Chinese manufacturing PMI figure of 47.8 in July indicated that the sector had further contracted from June's figure of 49.4. The Shanghai Composite declined 1.1% to 3,623 points, the Hang Seng fell 1.3% to 24,319 points, while the Nikkei 225 lost 0.2% to 20,548 points by 8:00 AM GMT.
Majority of the stock markets across Europe edged lower, as investors await the Greek stock market to open after being shut for five weeks. The DAX 30 slipped 0.3% to 11,281 points, the IBEX 35 slid 0.3% to 11,148 points, while the CAC 40 lost 0.1% to 5,078 points. Meanwhile, the FTSE 100 fell 0.1% 6,688 points, while the Stoxx
The Loonie continued to decline against the Greenback, as oil prices traded below $47 a barrel. The Dollar rose 0.3% to 1.3124 against the Canadian counterpart by 7:30 AM GMT; however, the pair traded as high as 1.3140 right before the European markets opened. The traders offloaded Canadian currency on Monday, as the outlook on the WTI oil futures looked
The yellow metal was hovering near its five-year lows on Monday amid weak physical demand and traders' bearish mood in light of rate hike prospects in the US. Futures for gold edged 0.02% lower to $1,094.7 per ounce by 06:40 AM GMT. Analysts say the Fed could start to normalize its monetary policy already in September; however, some claim that
Oil futures continued to slide on early in the trading session on Monday, as investors attempt to evaluate Iran's impact on the oil supply, once the sanctions are lifted. The New York WTI traded 0.9% lower to $46.71 a barrel, while the European benchmark Brent Crude declined 1% to $51.70 a barrel by 7:10 AM GMT. Iran intends to increase
The total value of Canada's economy decreased for the fifth consecutive month in May, influenced by low manufacturing output and gas and oil extraction along with weak results in wholesale trade. Country's GDP shrank 0.2% to 1.64 trillion Canadian dollars in May, following a 0.1% drop in April. Canada's economy slid 0.6% year-on-year in Q1, based on that, BoC cut
Euro area's consumer price inflation remained in green for the third consecutive month in July, while the main gauge stayed in line with expectations. The inflation rate in all Euro zone counties rallied 0.2% on an annual basis in the first half of the year after 0.3% rise reported in June. Core inflation added 1.0% in July, following 0.8% gain
US stock futures of major indices were in the red before the opening bell on Friday, as investors were cautious of increased end of month volatility. The futures of S&P 500 Index was 0.1% lower to 2,101.75 points, the futures Dow Jones Industrial Average lost 0.1% to 17,667, while the NASDAQ 100 Index fell 0.1% to 4,590.25 points by 10:20
The Loonie was under pressure from the US Dollar on Friday, as trader focal point was on the possible rate hike in September. The Greenback rose 0.25% to 1.3031 against the Canadian Dollar by 8:10 AM GMT. Moreover, the Loonie was further pressured by the slipping oil prices that traded below the important $48 a barrel level. In addition, the
The Dollar traded sideways against the Yen and the common currency on Friday, as investors digest US economic data and its impact on the timeline for the rate hike by the Fed. The EUR/USD pair traded 0.03% lower to 1.0927, while USD/JPY pair edged 0.05% higher to 124.2615 by 7:55 AM GMT. Moreover, further economic data from the US and
Equities in Europe opened slightly higher on Friday for a third day, with very low volatility. Investors continued to keep focus on earning reports and ongoing rout in Chinese stocks, while the reaction to decline in German retail sales in June was minimal. The pan-European Stoxx 50 advanced 0.17%, the French CAC 40 index rose 0.33%, while the FTSE 100