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

Futures contracts for gold declined with European trading after it was high in the Asian session : with the beginning of today’s hours, futures contracts rose by 0.66%, to be traded at a price
09-2020 21 09:52:41

Gold futures rose for December delivery according to the Asian session on Friday. As it increased by 0.47%, to be traded at the price of 1959.00 dollars per ounce, and it was previously traded at a
09-2020 18 06:02:31

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

More News

Logs

Advertisements