Breaking News

Yen hovers around two-week trough after mixed data

News Date: 29/3/2016 02:28:25
Japan's yen extended its losses on Tuesday after a spate of mixed data from the world's third largest economy, showing the unemployment rate edging up to 3.3% in February, from January's 3.2%, while retail sales rose only 0.5% y/y, missing expectations of a 1.6% rise.

Household spending on the other hand rose 1.2% y/y, beating expectations of a 1.8% slump, but that didn't help the local currency a lot, which hovered around a two-week low against its American rival at 113.61, down 0.15% on the day, while also inching down 0.10% versus the euro to trade at 127.13, a multi-week low as well.

Japan's Nikkei index gave up 0.20% after the largely disappointing data, trading last at 17,103, while Australian shares, coming from a long holiday, tumbled 1.60%. China's Shanghai index registered a loss of 0.75%, while South Korea's KOSPI index bucked the trend, advancing 0.62% to a week high.

Oil prices remained pressured by rising inventories and production across the world, unmatched by demand, with U.S. West Texas Intermediate (WTI) crude futures dropping 26 cents, or 0.70% to trade at $39.11 a barrel, while Brent crude futures fell 35 cents, or 0.86% to move around $40.51 a barrel.

Investors wait for a speech by the Federal Reserve chairwoman Janet Yellen to gauge whether the Fed is on track to hike interest rates next month, following bullish statements from other Fed official, which would rally the dollar and affect stocks negatively.

Also from the United States, CB consumer confidence is expected to edge up to 93.9 in March, compared to February's three-month low reading of 92.2, which would be mildly positive for the greenback.

Latest news

Curse continues... Inflation is following us to 2023 Inflation led most of the banks in the world to raise interest rates, in an attempt to reduce it . The International Monetary Fund expects that t
12-2022 30 06:28:23

Gold prices fluctuate with the reduction of dollar's losses Gold's prices varied after its positive start at the expense of the dollar’s decline, which tended to reduce its losses, while oil c
12-2022 29 03:29:32

Vladimir Putin takes revenge by Russian oil embargo President Vladimir Putin has banned Russian oil in response to the price cap. He has signed a decree retaliating against the West's imposition of
12-2022 28 03:04:38

Gold prices rose today, Tuesday, affected by the decline of the dollar, which declined by 0.3%, and gold rose by 0.4% to reach $1804.99 an ounce, and gold futures rose by 0.4% to reach $1811.90. The
12-2022 27 04:19:22

The first Saudi-Japanese ministerial dialogue meeting for energy The Saudi Prince of Energy and the Japanese Minister of Economy and Industry held a meeting in Riyadh - Saudi Arabia, in which they
12-2022 26 02:50:27

More News