FXHIGHWAY

 Breaking News

Safe-haven yen extends rally after North Korea's nuclear test.

News Date: 6/1/2016 00:52:31
Update Date: 6/1/2016 01:22:11
 

North Korea announced testing a hydrogen nuclear bomb, its fourth test so far, and setting off thereafter fears of rising tensions in the region. Investors flocked to buy the safe-haven yen, helping it touch a fresh 11-week high against the dollar at 118.62, up 0.35% for the day. Yen surged to a 14-month high against sterling at 173.86, up 0.46%. It jumped to an 8-1/2 month high against the euro at 127.46 with a 0.34% profit.

 

Asian shares fell broadly as rising regional tensions came with more weakness from China, as a private survey showed Services PMI slipping to 50.2 for December, considerably lower than November's 51.2, and barely above 50 which separates growth from contraction. Japan's Nikkei dived to a 10-week low, down 1.30%. Australia's S&P/ASX 200 index fell 1.20%, while South Korea's KOSPI gave up half a percent. China's CSI300 index rose marginally however by 0.20%, as the government unleashed a slew of measures to help lift stocks.

 

Wall Street closed with mixed results, with Dow Jones up 9.72 points, or 0.06% to 17,158.66. NASDAQ dipped 11.66 points, or 0.24% to 4,891. S&P 500 rose 4.05 points, or 0.20% to 2,016.71.

 

Oil prices remained under pressure due to excessive supply and a strengthening dollar. Brent crude futures lost 12 cents, or 0.33% to $36.50 a barrel, not far from an 11-year low at $35.98. U.S. West Texas Intermediary (WTI) crude futures were barely up by 7 cents, or 0.19% to $36.04 a barrel.

 

Canadian dollar tumbled to a 12-1/2 year low at C$1.4026, as slumping oil prices put negative pressure on the commodity-reliant Canadian economy. Australian dollar hit a three-week low at $0.7124, while New Zealand's Kiwi slid to a 4-week low at $0.6656.

 

A slew of crucial data is due for release today; from the U.K., Services PMI is forecast at 55.6 for December, marginally lower than November's 55.9, but still an indication of strong growth in the sector, which might be good news for the battered sterling.

 

From the U.S., crude oil inventories are forecast to have fallen half a million barrels last week, which would be positive for oil prices.   

 

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

Logs

Advertisements