Breaking News

Yen plumbs one-month low after mixed data

News Date: 31/8/2016 04:57:07
 
Japan's yen tumbled to a one-month trough against the dollar after mixed data from Japan, as industrial production didn't change in July, missing expectations of 0.7% rise, while housing starts rose 8.9% in the month, beating forecasts of a 7.6% rise.

The Japanese currency last traded at 103.18 against the dollar, after hitting a month low at 103.34, down 0.20% on the day, but the dollar index was nonetheless own 0.08% due to losses against European currencies.

Japan's Nikkei index on the other hand surged nearly one percent, as the weaker yen buoys exporters' balance sheets, while the pan-European FTSEurofirst 300 index added 0.34% to 1,361.

Crude prices tumbled on Wednesday on oversupply worries, with Brent crude futures down 35 cents, or 0.72% to $48.37 a barrel, while U.S. crude futures shed 20 cents, or 0.43% to hover around $46.15 a barrel.

Investors wait for an array of data later, with crude oil inventories expected to have risen 1.1 million barrels last week, adding to the previous reading's 2.5M increase, which would be negative for oil prices.

U.s. pending home sales are forecast to have risen 0.7% m/m in July, easing besting June's 0.2% growth, which would be positive for the dollar.

Latest news

The dollar fell broadly on Monday after a difficult week, after more Chinese cities, including financial hub Shanghai and Urumqi in the far west, announced easing restrictions related to Covid-19, wh
12-2022 05 03:14:06

After the speeches delivered by Federal Reserve Chairman Jerome Powell, announcing that the interest rate will rise by 50 points instead of 70 points, gold prices rose by more than 2% to reach levels
12-2022 02 03:06:59

US Federal Reserve Chairman Jerome Powell announced the decision to slow the rate of interest rate hikes, starting in December, and stated that inflation is still very high, and that interest rates w
12-2022 01 02:57:28

The dollar fell from the highest level in a week on Wednesday, before a speech by the Chairman of the Economic Reserve, Jerome Powell, and became hovering near its lowest level in a month, and the ma
11-2022 30 04:50:47

Stocks in the United States closed lower at the end of yesterday’s trading, after the Chinese protests against the policies of Covid 19 raised economic concerns, to accompany the shares indices
11-2022 29 01:22:11

More News

Logs

Advertisements