India to benefit from low oil prices
Aug 12, 2015 10:18 am UTC| Commentary
According to a latest report by the International Monetary Fund (IMF), weak economic growth is still the norm in emerging economies- with the exception of India. The IMFs World Economic Outlook (WEO) for this year,...
Euro crosses $1.11against USD on Greek deal
Aug 12, 2015 09:32 am UTC| Commentary
The euro keeps on surfing on the wave of Greek agreement optimism, reaching fresh August highs while completely shrugging off the risk-off hit from China.The European currency ignored the risk-off punch administered by the...
EUR/GBP soars to 1-month high as UK wage growth slows down
Aug 12, 2015 09:29 am UTC| Commentary
The pound had a hard time as the UK labour market continued to improve, although wage growth came out weaker than expected.Average UK weekly earnings ex-bonuses for June remained robust at 2.8% year-on-year, while...
Coffee prices defy weakness of commodity prices
Aug 12, 2015 09:25 am UTC| Commentary
Over the past two days of trading, Arabica coffee has risen by 10% in price to a good 137 US cents per pound, while Robusta coffee has gained by roughly half that amount. There has been no new news, apart from the fact...
Gold price supported by renewed Yuan devaluation
Aug 12, 2015 09:14 am UTC| Commentary
PBoC increased the fixing of the USD-CNY yeasterday is lending renewed support to gold this morning. The price records a three-week high of $1,120 per troy ounce. Lower rate hike expectations are also giving gold a boost...
OPEC and EIA differs on development of non-OPEC supply
Aug 12, 2015 09:07 am UTC| Commentary
OPEC sees the oil market as being significantly oversupplied. The call on OPEC looks set to total 29.23 million barrels per day on average this year, and to climb to 30.12 million barrels per day next year. According to...
WTI oil price closed at lowest level in 6.5 years
Aug 12, 2015 08:58 am UTC| Commentary
Oil prices fell sharply yesterday. Brent dropped by 2.4% to $49 per barrel, while WTI even shed 4% to $43 per barrel - the lowest WTI closing price in 6½ years. That said, oil prices are largely resisting this...