Euro hold losses

August 17, 2015

The euro held near its session lows against the dollar on Friday after the European Commission confirmed a deal to lend cash-strapped Greece up to 86 billion euros over three years following talks in Brussels. In late U.S. trading, the euro was down 0.4 percent at $1.1103, slightly above its session low of $1.1099, while it was down 0.5 percent at 138.00 yen, hovering near its session low of 137.94 yen.

Recent changes to how China manages its currency could bring the country "quite close to a float" in its exchange rate, a top International Monetary Fund official said on Friday in a review of the country's economy. As the shift away from investment continues, the IMF said the country should prepare for slower growth in the medium term. The IMF said officials should "calibrate" fiscal and other policies toward a growth rate of as little as 6 percent next year, compared with an estimated 6.8 percent this year and growth in excess of 10 percent before the 2007 global financial crisis. Trouble in China has held down global commodity prices and posed a risk to growth in other countries, including the United States. While cheaper oil and copper helps consumers and producers, it has also bedeviled officials at the Federal Reserve and other central banks trying to forecast inflation.

Gold turned slightly lower on Friday as the dollar shifted higher on encouraging U.S. data and as investors weighed the impact of China's currency intervention on the timing for the first U.S. interest rate increase in nearly a decade. Spot gold was down 0.2 percent at $1,112.36 an ounce by 2:05 p.m. EDT (1805 GMT) after hitting $1,126.31 on Thursday, its highest since July 20. The precious metals complex moved in the opposite direction of U.S. crude oil, which turned higher after reaching a 6.5-year low. Spot silver saw deeper losses of 1.7 percent, down to a session low of $15.15 an ounce.

Publication source
Markets.com information  Markets.com reviews

December 2, 2016
It's not the jobs numbers
It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President...
December 2, 2016
OPEC alliance stuck a global agreement
The Oil prices jumped on Wednesday after the organisation members agreed to pare production first time since 2008, to reduce global oversupply, which made the prices collapse by half since mid-2014...
December 2, 2016
Rebound continues in UK construction
The latest data on the UK construction sector was released this morning, and will likely be seen as positive overall as the recovery from the Brexit shock appears to be persisting. Despite this the FTSE 100 is under pressure this morning...

XM Rating
Vantage FX Rating
OANDA Rating
Fort Financial Services Rating
Tickmill Rating
XTB Rating

OptionBit Rating
365BinaryOption Rating
Empire Option Rating
Banc De Binary Rating
OptionRally Rating
TopOption Rating