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 rose this morning, due to the halt in oil and gas production due to a hurricane in the United States of America, as the price of crude oil increased by approximately 1.5%, reaching 41.13 d
09-2020 16 06:30:20

We open the trading week with a rise in gold prices today, after it witnessed a decline in the last days of last week, as it is a safe haven for investors, especially when crises that negatively affe
09-2020 14 06:22:57

Gold prices experienced a remarkable decline at the beginning of the week after it concluded its Asian trading at a high, affected by the great rush of investors, if this morning the gold futures con
08-2020 31 08:11:31

We start today's events, Tuesday, by the rise in oil prices affected by the easing of precautionary measures to combat turquoise corona in the world. US West Texas crude futures are expected to decre
08-2020 26 04:51:45

The dollar opened the week’s trading, declining, due to the development of health conditions in its negative curve due to the spread of the Corona pandemic, and because of the attempt to find a
08-2020 24 07:44:30

More News

Logs

Advertisements