Tags Posts tagged with "Commodities"

Commodities

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The dollar rallied as markets turned attention back towards slowing growth in emerging economies. A research note from the Asian Development Bank turned investors’ back to the situation in China.

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GBP/USD rallied over 1.55 in early trade after some of robust earnings and wage data. Average UK earnings came in with a 2.9 percent gain in July over the prior three months.

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Disappointing data on Chinese industrial output reignited concerns over the world’s second biggest economy. A brief rally in metals and commodities went into reverse Monday...

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EUR/USD was testing resistance around the 1.13 area. EUR/USD found a floor around 1.1082 earlier in the week and has been rising steadily for the past four days.

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UK manufacturing activity fell in July according to recent figures. Manufacturing production fell by 0.8 percent in July. Analysts had expected a small rise of 0.2 percent on the month, so the release had a negative impact on sterling.

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The US dollar was higher against commodity currencies on Monday. The greenback was trading up strongly against the Canadian, the New Zealand dollar and was breaking even on the Australian dollar.

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Cable continued its bearish trend today pushing down below the 1.53 line. A disappointing outlook on the UK’s service industry was enough to keep the sell orders coming in.

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The Bank of Canada surprised markets for a second time this year by cutting their target “overnight” rate of interest to 0.5% from 0.75%. The Canadian dollar fell sharply on the news as did other high yields.

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Markets will be nervously eying events in China this week with particular emphasis on the Chinese authorities and any possible intervention.

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Oil futures stabilized on Wednesday after experiencing some of the biggest falls in three months. Brent crude futures stabilized around the 56 dollar mark despite physical supplies of crude rising on the week.