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

The number of global Coronavirus infections is increasing at an unexpected speed, and German Chancellor Angela Merkel said yesterday that the pace of new infections is advancing day after day, and at
11-2020 17 08:37:57

Japanese stock indices closed lower today, due to undermining investor sentiment for fear of a rise in Corona cases, and the Nikkei index fell by 0.53% to 25385.87 points, and over the course of a we
11-2020 13 05:10:43

The US dollar manage this morning, to achieve progress during the trading session, as the « safe currency » rose by 0.04% to indicate 93.073, and the dollar fell against the Japanese yen
11-2020 12 08:11:42

Trump is still trying to raise the curtain on the corruption – as he claims – which was defined by the polling process in the last major US election that was sorted by Democrat Joe Biden,
11-2020 11 08:58:20

Most of the global markets rebounded on Monday, right after the opening of the weekly trading session, after Democrat Joe Biden won the US presidential elections, and both stocks and commodities rebo
11-2020 10 09:23:45

More News