Breaking News

Euro surges after unemployment fell to to its lowest in 4 years.

News Date: 7/1/2016 10:02:31
 
The Eurozone unemployment rate fell to 10.5% in November, the lowest level since October 2011, and down from 10.6% in October. And in other good news for the currency, a survey tracking economic sentimet rose in December to 106.8 from November's 106.1. Retail sales however were a sore point, falling 0.3% m/m in November. Nonetheless, Euro bulls saw enough to rally the currency 0.72% against the dollar to 1.0857. Euro jumped to an 11-week high against sterling at 0.7432. It erased its losses against the yen, gaining 0.20% to trade at 128.  

It was another story for the struggling sterling, which plunged to its lowest in 5-1/1 years against the dollar at 1.4585, down 0.33% for the day. Sterling is besieged by uncertainty regarding the future of Britain in the EU, after a poll released earlier showed the camp of "Out" exceeding the camp of "In" for the first time. Sterling additionally fell to a new 14-month low against the yen at 172.20.

European shares took a beating after Chinese shares plunged more than 7% before being halted, and following the People's Bank of China devaluation of the yuan by half a percent, showing that the economy is weaker than is thought. the pan-European index FTSEurofirst tumbled to a 3-month low at 1,351, down 2.92% for the day. Germany's DAX dipped 240 points, or 2.34% to 9,975. Britain's FTSE index slid 112 points, or 1.85% to 5,961. France's CAC skidded 70 points, or 1.66% to 4,406.

Oil prices recovered some of their heavy losses but remained down for the day, with Brent crude futures down 51 cents, or 1.48% at $33.69 a barrel. U.S. West Texas Intermediary (WTI) crude futures lost 55 cents, or 1.62% to $33.31 a barrel.  

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

Logs

Advertisements