Breaking News

Sterling falls after BOE revised its forecasts.

News Date: 5/11/2015 09:47:59
Update Date: 5/11/2015 10:32:48

Sterling collapsed to a three-week low against dollar to 1.5231 after Bank of England indicated that near-zero inflation wouldn't pick up till deep into 2016, stretching out further in time bets on a rate hike. Sterling fell 1.18% against Euro to 0.7147. It fell to a one-week low against Yen to 185.36.


Dollar gave up its earlier gains after data showed unemployment claims rising to 276K, much higher than the 263K forecast. It fell 0.15% against Euro to 1.0880 after touching a 14-week high earlier. Dollar touched a ten-week high against Yen before easing back to 121.68.


European shares were mostly up on Thursday; with the pan-European index FTSEurofirst gaining 0.08%. Germany's DAX rose 72 points, or 0.65% to 10,914. France's CAC rose 43 points, or 0.89% to 4,992. Britain's FTSE fell however, pulled down by touristy companies affected by Egypt's security problems. It was last down 16 points, or 0.25% to 6,397.


Wall Street opened slightly higher, with Dow Jones up ten points, or 0.06% to 17,878. NASDAQ gained 4 points, or 0.08% to 5,145. S&P 500 rose a point, or 0.05% to 2,103.


Crude prices fell, with Brent futures for December down 12 cents, or 0.26% to $48.46 a barrel. U.S. crude futures fell 33 cents, or 0.71% to $46 a barrel.


Australian dollar erased its losses and rose 0.20% to $0.7160. Canadian dollar was down, affected by the fall in oil prices. It last stood at C$1.3171, down 0.17% for the day.


Gold futures inched up a dollar, or 0.07% to $1,107 an ounce. Silver futures fell 10 cents, or 0.72% to $14.95 an ounce.


Latest news

On Friday, oil prices continued to harvest more losses, retreating to the lowest levels, with the high rate of coronavirus infections in the United States of America, and due to fears of isolation an
07-2020 10 06:16:09

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

More News