GoldMoney (Other OTC: BTGDF – news) dealing manager Kelly-Ann Kearsey said: “The US Federal Reserve’s caution with regard to when it might put up interest rates has hit the dollar this week, and that combined with the continued economic woes in China has pushed...
The worldwide Monetary Fund has yet to make a final decision on whether or not to add any new currency to its new SDR basket this year. The rest of the world is watching. To have a substantive beneficial impact on trade, the renminbi would need to see rapid depreciation, a...
The Caixin Chinese Purchasing Manager’s Index, formerly released by HSBC, showed that manufacturing activity in August slowed to a six-and-a-half-year low. Markit’s Composite Flash Purchasing Managers’ Index, based on surveys of thousands of companies and seen...
A private factory gauge unexpectedly fell to the lowest level in more than six years, data Friday showed. At the same time, policy makers also expressed concerns that given recent drops in commodity prices inflation is still too low to justify an interest rate increase.
A lot of the FTSE is oil and gas and mining stocks and those are at the mercy of commodity prices, and there’s no knowing where they are going to end up’.
Whatever the precise cause (and the estimate may in any case be revised down), the outlook for the Greek economy remains bleak owing to the trauma of late June and July when the banks were closed for three weeks and capital controls were introduced.
China’s stocks wiped out gains spurred by an unprecedented government campaign to prop up prices amid weakening economic data and signs of capital outflows.
The U.S. benchmark hit 6-1/2 year lows near $40 a barrel on Wednesday and Brent crude for October delivery LCOc1 was down 29 cents at $46.33, after settling 54 cents lower in the previous session. Oil is down 34 percent from its high of $61.43 this year, and 62 percent from its...
It said in a note: “We believe demand and supply fundamentals remain solid and expect prices to recover further once markets have digested the first Fed move”.
“The markets’ response to Chinese surprise devaluation of its currency against the US dollar is ample evidence that investors worry about further measures across Asian countries in order to prop up export competitiveness”, said Anand James, the co-head of the...