Breaking News

Dollar stumbles further, Euro stands tall

News Date: 12/10/2015 01:24:15

 Asian stocks kept rising on Monday as investors flock back to emerging assets after losing faith in a U.S. rate rise any time soon. Hong Kong listed shares rose 1.36% with similar gains for mainland Chinese stocks. Korea's main index rose by half a percent. Jakarta's rose by 0.6%.


 Japanese market is on holiday. American and Canadian markets are as well.


Oil kept its momentum on Monday after a temporary stumble on Friday. It was pushed higher by data revealing that U.S. drillers cut oil rigs for the sixth straight week, cutting it by nine rigs in the week to 9 October. Total rig count now after the last cut is 605, falling sharply from a high of 1,609 reached last year.


  In Asian trading, Brent oil rose half a dollar, to trade at $52.98 a barrel. U.S. oil rose 45 cents fetching $49.96 a barrel.


Dollar kept falling on Monday, as traders unwind previous long positions after doubts the Fed won't raise rates this year. As of 04:58 GMT, Against Sterling it fell to 1.5331. Against the Euro it fell for the third straight session, trading around 1.1371. Against the Yen, it was last trading around its Friday closing price at 120.15.


Euro kept up its ground on Monday after gains last week, pushing further ahead, Against Sterling it traded at 0.7415. Against Yen, it stood near a three-week high at 136.62.


Commodity currencies rose on Monday, keeping up their impressive gains against the Dollar. Australian dollar rose for the ninth day in a row, touching a fresh seven-week high. It was last trading at 0.7331. Canadian dollar rose as well, trading at near a ten-week high on Monday at 1.2917.


Spot gold rose 0.14% in early trading, fetching $1,158.04 an ounce. Silver rose 0.20%, trading at $15.85 an ounce.


Investors will be waiting for wide-range reports in the coming days, specially from China and U.S., the nearest of them is the foreign direct investment report for China, potentially released today, it's forecast to have grown 9.2% year to date.      


Latest news

Advertising sources reported that the number of confirmed cases of Covid virus 19 reached 12 million and 800 thousand cases, as the largest number of infections was recorded with a total of 839,850 c
07-2020 13 03:43:07

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

More News