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

Oil prices fell today, Wednesday, after the increase in crude inventories, which increases the fears of supply. Therefore, it is expected that US crude production will decline by 600 thousand barrels
07-2020 08 08:20:53

Corona virus infection in the United States of America reached its maximum, reaching two million, 840 thousand and 906 cases, according to the Centers for Disease Control yesterday, after it recorded
07-2020 06 00:36:17

After the long collapse, the American labor market is achieving some relative recovery, as the number of added jobs yesterday reached 4,800 million jobs, which exceeded all expectations, and came as
07-2020 03 00:34:55

Beginning with the latest developments in commodities, the gold futures contracts started this morning with a rise of 0.70%, to be traded at 1784.56 dollars an ounce, after opening at 1771.61 dollar
07-2020 01 03:47:05

Oil prices continued to lose their losses after the recovery in demand decreased, due to the high number of injuries they suffer, and Brent crude fell by the same percentage 2%, which in turn pays to
06-2020 29 05:49:33

More News