Breaking News

Asian shares slump, yen advances.

News Date: 13/11/2015 01:00:01

Asian shares fell as commodities take a nosedive, and a potentially imminent Fed rate hike continue to rattle markets. Japan's Nikkei lost 0.64%, while China's Shanghai index fell 1.16%. Australia's S&P\ASX 200 index skidded 1.30%. Korea's KOSPI gave up 0.98%, while India's Nifty slipped 0.79%.


Wall Street ended Thursday's trading with deep losses, with Down Jones relinquishing 254 points, or 1.44% to 17,448. NASDAQ lost 61 points, or 1.22% to 5,005. S&P 500 fell 29 points, or 1.40% to 2,045.


Dollar pushed back after losses yesterday, with its index up 0.19% to 98.75. Dollar fell to a one-week low against Euro on Thursday at 1.0810, it advanced 0.23% today to 1.0791. Dollar fell to a similar low against Sterling, before recovering by 0.12% to 1.5210. It was almost flat against Yen at 122.63.


Yen advanced for the second day against Sterling, scaling 0.09% up to 186.52. It gained 0.22% against Euro to 132.32.


U.S. crude prices were hammered by more build-up in oil inventories, with the futures falling to a fresh ten-week low, losing a further 20 cents, or 0.48% to $41.55 a barrel, and coming perilously close to a 6-1\2 year low reached in August at $37.75. Brent futures for December recovered a bit however, rising 5 cents, or 0.11% to $45.22 a barrel.  


Canadian dollar fell to a ten-week low against U.S. dollar before recovering to C$1.3298. Australian dollar muscled ahead for the second day, trading 0.12% higher at $0.7134.


 Gold futures fell to a four-month low yesterday, before recovering a dollar, or 0.10% to $1,082 an ounce. Silver futures were down by 2 cents, or 0.18% to $14.23 an ounce.


A flurry of economic data is released today.  German preliminary GDP reading is forecast to show a growth of 0.3% q\q for third quarter, a touch lower than the second quarter's 0.4% growth. A flash GDP estimate for the whole Eurozone is expected to show a 0.4% growth q\q. lower numbers would further push ECB into more easing in December, bringing the Euro down.


From U.S., retail sales are forecast to have grown 0.3% in October m\m, while producer price index PPI is forecast to have grown 0.2% in October m\m.  Matching the forecasts would further enhance the chances of a Fed rate hike in September, pushing Dollar higher.


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