Market review 4-7-2016

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Europe in the red, investors still cautious after Brexit

Equities in Europe were trading lower on Monday with investors still weighing the Brexit implications on the stock market. UK’s FTSE 100 dropped 0.42%, the German DAX lost 0.46% and the French CAC 40 was trading down by 0.54%. Down under, Australian shares reversed recent losses and closed higher by 0.67% on Monday despite the uncertainty surrounding the federal election’s outcome. The Australian ASX 200 closed up by 0.67% after no party managed to win a majority over the weekend and elections failed to produce any clear winner.  Japan’s NIKKEI 225 bounced back from earlier declines, rising by 0.6%. Hong Kong’s Hang Seng added 1.37% and the Chinese Shanghai composite gained 1.9%. Wall Street remained closed on Monday due to the American independence day holiday.

The Aussie reverse losses as the FX market calms

Following the election’s confused outcome, the Aussie dropped to $0.7514. The Japanese Yen found strength against the Dollar, trading at 102.66. The Dollar/Yen pair recovered from Friday’s low levels, induced by Britain’s exit from the Euro Zone. The Chinese Yuan was last traded at 6.6629 against the Dollar. The British Pound bounced back from its 31 year low and is traded at $1.3284. The currency touched a three decades’ low after referendum results showed most votes in favor of exiting the European Union. The greenback remains stable against most major currencies.

Oil prices rise as market settles, Metals higher on safe-haven demand

Crude oil prices climbed on Monday following the Saudi energy minister’s comments on the market’s new balance and despite Asia’s slowing demand for oil weighing on sentiment. Brent crude futures added 23 cents and were traded at $50.58 per barrel. U.S crude is at $49.16, up by 17 cents.  Gold prices climbed on Monday as Britain’s Brexit supported the gold’s rising prices. The yellow metal reached a two – year peak overnight last week and is now at $1,351.35 an ounce for Spot gold. U.S gold futures were up as well and are currently at $1,354.40 an ounce. Silver finds support from the U. K’s vote as well, last seen up by 2.7% and at $20.29 an ounce. Platinum on the rise with a 0.3% climb to $1,062.05 an ounce and Palladium up by 0.2% at $605.47 an ounce.

 

 

Market review 13-6-2016

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Markets in the red ahead of Fed and BOJ meetings

Lower open on Monday in Wall Street as traders face a busy week of central bank policy meetings in the U.S, U.K and Japan. The mass shooting in Orlando, Florida is expected to weigh on sentiment as well. No significant data is due from the U.S today. The Dow Jones opened down by 0.67%, the S&P 500 is 0.92% lower and the Nasdaq off by 1.29%. The Federal Reserve is set to start its two-days open market committee on Tuesday although a June interest rate hike seems to no longer be on the table after the May weak nonfarm payroll numbers.  The Bank of Japan (BOJ) is holding a policy meeting on Wednesday and experts say the BOJ just might rattle markets with an additional easing. The BOE (Bank of England) is also scheduled to have a meeting this week as U.K citizens are preparing for the June 23 referendum regarding the country’s membership in the European Union. Latest polls jolt the markets, showing that most brits prefer to disconnect from the EU. The U.K’s FTSE is 0.49% lower, the French CAC 40 slides by 1.69% and the German DAX is down by 1.59% this Monday.  In Asia, markets finished lower as investors eye the Feds and the BOJ’s meetings as well as the referendum from the U.K. The Japanese Nikkei 225 plunged by 3.51% as a result of a stronger Yen and shares from Sony, Toyota, Nissan and Honda leading the losses. Hong Kong’s Hang Seng fell by 2.73% and China’s Shanghai composite dropped 3.23% after the mainland’s fixed – asset investment growth edged down by 9.6% between January and May.

The buck recovers as the Yen surges on Brexit concerns

The Yen is hits a three – year high against the Pound and the Euro. Considered to be a safe – haven currency, the Yen finds support ahead of the BOJ two – days meeting and over a British exit from the EU. the Japanese currency continues to strengthen, currently 1% higher against the dollar. The pair USD\JPY is traded at 105.83. The Pound is down across the board at $1.4213, pressured by England’s up and coming referendum. The greenback advanced by 1.2% against a basket of other major currencies, bouncing back from its June low and boosted by a potential rate hike from the U.S.

Crude dips on stronger Dollar, Gold surges on jittered markets

Oil prices drop over concerns of a slowing European and Asian economy and a stronger Dollar which is making fuel less affordable for countries using other currencies. Brent crude futures drop by 51 cents to $50.03 a barrel and U.S crude lost 61 cents at $48.46 a barrel. Gold hits a four – week high before major Central Banks meetings and England’s referendum. Spot gold climbed 0.8% to $1,283.66 an ounce and the precious metal rallied by an overall of 6% since the May payroll data from the U.S was published.

Market Review 9-6-2016

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New Zealand Dollar soaring on RBNZ policy, The greenback plunge

The Dollar continues to weaken against a basket of major currencies with the U.S. dollar index hitting its lowest since May 6, down by 0.2%. The greenback began its spiral down after some disappointing jobs data from the U.S that has made an interest rate hike from the Fed less likely in June. The euro climbed 0.1%, traded at $1.1387 and the yen rose to 107 yen against the greenback. The Pound inched down by 0.1% to $1.4494 as uncertainty hovers over Britain’s June 23 referendum. The country is to decide whether to remain in the European Union, increasing demand for safe – haven bunds. In New Zealand, The Reserve Bank of New Zealand (RBNZ) surprises investors and keeping interest rates unchanged, sending the Kiwi up by 1.7% to $0.7140. The NZ Dollar reached a high of $0.7148 that was last seen at June 2015.

Shares dip on global growth concerns, New data eyed in the U.S

Asian stocks closed session lower on Thursday thanks to the weakening Dollar that’s weighing Japanese shares down and global growth concerns. Data from Japan showed a decline in machinery orders while in China exports for May dropped as well. The NIKKEI 225 dropped by 0.97% due to the weaker back that’s lifting the Yen. Among the mail losers were Japanese exporters Toyota, Nissan and Sony. Down under, Australia’s ASX 200 closed trading 0.15% lower with major miners leading gains. Hong Kong’s Hang Seng fell by 0.14% and China’s Shanghai composite dropped by 0.32%. European bourses followed the Asian sentiment and closed lower as well. UK’s FTSE lost 0.88%, The German DAX dropped 1.35% and the French CAC 40 was down by 1.11%. In Wall Street, stocks posted gains on Wednesday with the Dow Jones Industrial Average soaring above the 18,000 level, a key position it last touched on April 27.  The S&P 500 closed session in a new high for the year, adding 0.33%. The Nasdaq climbed by 0.26% with Alphabet leading the gains and Apple posting loses. Despite recent gains, stocks are expected to open lower on Thursday as traders wait for fresh data from the U.S.

Oil reached 2016 high as U.S inventories drop, Gold hits three-week high

A combination of a weaker Dollar, a decrease in U.S crude stocks and strong demand had oil surging to new highs for the year. Brent crude oil futures rose by 23 cents to $52.74 a barrel and U.S crude was up by 33 cents at $51.56 a barrel. The U.S Energy Information Administration (EIA) released data showing a 3.23 fall in U.S crude stocks last week. A weaker Dollar is also dragging oil prices down as Dollar – traded fuel becomes more affordable for countries using other currencies. Gold reached a three-week high on Thursday, boosted by a sluggish Dollar and weakening expectations for an interest rate hike from the Federal Reserve in the short time. Spot gold remained flat at $1,262 an ounce and U.S gold climbed by 0.2% to $1,262.90 an ounce.

Market review 5-6-2016

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U.S jobs data sends markets spiraling, Asia mostly higher

Equities in Europe experienced a steep fall on Friday following a disappointing U.S nonfarm payroll report. The states added just 38,000 new jobs in the month of May, significantly below expectations from Wall Street of 162,000. London’s FTSE index managed to close up by 0.4% while the French CAC 40 ended session down by 1%, as did the German DAX.

The surprisingly weak data from the U.S also includes a lower unemployment rate of 4.7% but leaves analysts boggled, especially since it’s the last piece of data before the Federal Reserve’s meeting. Stocks in the U.S closed slightly lower on Friday. The Dow Jones Industrial Average closed down by 31 points or 0.18% with Goldman Sachs leading the losses, the S&P 500 dropped by 0.29% and the Nasdaq composite lower as well by 0.58%.  Asian bourses closed up on Friday as they awaited the jobs data from the U.S and despite a stronger Yen. The Japanese Nikkei 225 rose by 0.48% after two days in the red. China’s Shanghai composite ended session up by 0.44%, Hong Kong’s Hang Seng index added 0.35% and down under, Australia’s ASX 200 finished its trading 0.76% higher.

The Dollar drops to lowest level in three weeks on U.S jobs report

The Greenback tumbled on Friday after jobs data from the U.S came in below predictions and raised questions on whether the Fed would hike interest rates as planned. The buck is currently at 106.7 Yen, down by 1.9% and meeting its lowest level since May. The Euro was last seen 1.7% higher against the Dollar, at $1.133 and briefly reached its highest level since May 17. The Pound lost 0.01% against the dollar, at 1.4518 GBP and while the Aussie currency rose to $0.7364 against the buck.

Gold surges on weaker Dollar, Oil lower on higher rig count

The yellow metal enjoyed a 2% jump and is now on track for its biggest one-day rise in seven weeks after data from the U.S came in worst then expected, advancing speculations that the Federal Reserve will hold its next planned rate hike. The American economy failed to meet expectations in creating new jobs, a fact that will make it harder for the Fed to further raise interest rates. The payroll data helped Gold rebound from its three-and-a-half-month low. Spot gold rose by 2.74% to $1,243 an ounce and U.S gold futures for the August delivery climbed 2.5% to $1,242.90 an ounce. While interest rates hikes boost the Dollar and make gold less affordable for investors, doubts about raising rates and a weaker back support the precious metal and boost its value. Spot Platinum was up as well, by 3.1% at $983.04 an ounce, Spot Silver scaled up by 2.53% to $16.38 an ounce and Spot palladium surged by 3.8% to $552.89 an ounce. Crude oil prices fell by more than 1% after data revealed smaller than expected raise in U.S oil rigs for the second time this year. Brent Crude lost 30 cents and is at $49.74 a barrel and WTI crude was down by 1.1% at $48.62 a barrel.

 

 

 

 

Market review 30-5-2016

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Yellen’s comments hit waves in global markets

Equities in the U.S closed session higher on Friday following the Federal Reserve chair Janet Yellen’s comments on interest rates. Yellen suggested a rate hike in the next few weeks is an appropriate step. The Dow Jones Industrial Average climbed 2.1%, having its best week since March 18. The S&P 500 added 2.3%, experiencing its best week since March 4, with the finance sector leading its gains. The Nasdaq had its best week since February 19, raising by 3.4% with Microsoft, Baidu and Alphabet posting gains. Markets in the U.S remained closed on Monday for memorial day.

European shares, on the other hand, closed mixed on Monday after Yellen’s talk. The German DAX rose around 0.29% while the French CAC 40 fell by 0.15%. The UK’s FTSE 100 remained closed on Monday due to a public holiday. On the shares front, Volvo traded lower following the cartel charges from the European Union the company and other large truckmakers in Europe are expected to face in the next weeks.

In Asia, session closed mixed with the Japanese NIKKEI 225 surging 1.39% as the Dollar found strength against the Yen. The Shanghai composite closed session up by 0.1% and Hong Kong’s Hang Seng climbed by 0.3%. Australia’s ASX 200 closed flat.

The Dollar surges on Fed’s hike expectations

The greenback reached a two-month high against a basket of major currencies, including the Yen, raising to 111.39 Yen. Recent climb is attributed to the Fed’s chair Yellen’s talk, raising expectations for a rate hike from the U.S soon. In Tokyo, Prime Minister Shinzo Abe stated he would postpone a sales tax hike that was scheduled for next April. The hike is now due in two and a half years, supporting the Dollar against the Yen. The Euro hoovers near a two and a half month low, at $1.1097. London and the U.S markets are closed for public holidays.

Iraq raises export, marking down oil prices

Crude prices dipped to $49 a barrel on Monday following Iraq’s crude export raise and Canada’s production restart after wildfires hit the region. OPEC (Organization of the Petroleum Exporting Countries) is set to meet in Vienna this week and most experts predict no change in current production policy. Brent crude futures were down by 35 cents to $48.97 a barrel, declining three days in a row. WTI crude dropped 20 cents at $49.13 a barrel. Gold hits a three-and-a-half-month low following the Dollar’s rise. The precious metal dropped by 1.1% to $1.199.60 an ounce for the first time since February after the Fed’s chair Janet Yellen comments on a higher rate sent the Dollar surging. A higher interest rate will increase the cost of gold holding – an asset that does not earn interest. A hike will also boost the Dollar, making the yellow metal more expensive for other currency users.

 

 

 

 

Market Review 3-3-2016

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Hong Kong drags behind Asian surge, Wall Street eyes payroll data

Asian markets expended their wins today due to a few paramount global events set to take place in the upcoming days. Japan’s NIKKEI 225 ended session up by 1.28%, the TOPIX rose by 1.44% and South Korea’s KOSPI gained 0.55%. China’s Shanghai composite closed in a positive trend, adding 0.36% while Hong Kong’s Hang Seng was the exceptional among Asian bourses, closing down by 0.73%. In Australia, the ASX 200 finished session with a gain of 1.19% thanks to gains in the financial, energy and materials sectors. The recent rally in the markets is supported by the upcoming U.S non – farm payroll report due on Friday, China’s National People’s Congress (NPC) that will start this weekend, and the Bank of Japan and the European Central Bank’s meeting next week. Fresh data from China’s service sector showed a weakening in growth, with business activity advancing at a modest pace only.
In Wall Street, investors are on edge, waiting for tomorrow’s U.S jobs report. The important report to watch for is the February employment report that is expected to present a rise of 190,000 jobs and an employment rate of 4.9%, according to Reuters. The Federal Reserve released its beige book, showing overall growth in economic activity in most regions across the U.S, further boosting indices. The Dow Jones Industrial Average rose by 0.20%, the S&P 500 climbed 0.41% and the Nasdaq added 0.29%. European markets closed lower but managed to finish off the red with the German DAX up by 0.13%, the FTSE advancing by 0.38% and the French CAC 40 only 0.04% higher.

Oil prices steady after oversupply concerns erase bullish trend

Crude prices were traded mainly flat today after glut concerns in the U.S produced no supply tempering actions from the world’s greatest oil producer. Oil experienced a recent rally that is now coming to a halt on glut worries. Brent crude dropped 10 cents to $36.83 a barrel as U.S crude futures added 1 cent and is priced at $34.67 a barrel. Crude inventories in the U.S reached a new high, counting an addition of 10.4 million barrels last week. Global oil production is exceeding demand, contributing to the 70% drop in oil prices since 2014. Gold rebounded and is back above $1,240 an ounce today as equity markets reversed, boosting appetite for the precious safe – haven metal. Spot gold rose by 0.2% to $1,242 an ounce and U.S gold futures for April delivery climbed to $1,243 an ounce.

Traders out for risk, boosting the Aussie and weighing on the Yen

The Australian dollar touched its two – month high on traders’ increased appetite for risk. The safe – haven Yen. On the other hand, surrendered gains to the U.S dollar, Now at 114.0 Yen. The Euro rose by 0.6% against the Yen, at 123.95 Yen.

Market Review 22-2-2016

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Equities on the rise following commodities’ surge

Asian markets ended trading mainly higher, extending last week’s gains. The Chinese market was leading the advances with the Shanghai Composite up by 2.37%. In Japan, the NIKKEI 225 benchmark index finished the day 0.90% higher. Moving to Korea, the Kospi tilted between gains and losses only to close trade flat. Hong Kong’s Hang Seng climbed by 0.96% and the Australian ASX 200 closed with a 0.98% gain with the financial sector leading the advances. In Wall Street, a rise in commodity prices boosted trader’s sentiment. The Dow Jones Industrial Average opened higher by 188 points, as did the S&P and the Nasdaq. Earning reports are due from Motorola solutions, Dean Foods and Fitbit. European shares were on the rise this morning following a positive trend in Asia and a recent commodity prices recovery. UK’s FTSE climbed by 1.26% with the HSBS stock limiting gains and dropping by 2.7%. The German DAX rose by 1.79% with BMW leading the gains and rising by 2%. The German vehicle manufacturer announced a new model to compete with the Mercedes S-class. The French CAC 40  seen higher as well with a 1.61% rise.

Oil prices slightly higher, Gold falls mid-rally trend

Crude prices remain at their lowest for the year and at the focus of investors’ attention in last months, but managed to squeeze out gains with U.S crude up 1.72% to $30.15 a barrel and Brent crude 1.36% higher at $33.46 a barrel. OPEC’s general secretary Abdalla Salem El – Badri is set to speak at the CERAWeek energy conference in Houston later today and generate some new headlines for the crude oil market. Gold prices plunged by 2% today on a count of a strong dollar and an increasing appetite for risk. The yellow metal recent rally boosted prices to its yearly highest this month and the precious metal still holds above $1,200 an ounce. Spot gold fell by 1.73% at $1,206 an ounce.

The Pound drops on European exit worries

The Japanese Yen is still going strong against the greenback, now at 112.86 following an announcement from the Bank of Japan regarding a shift in policy to a negative interest rate. The Pound experienced its biggest one-day loss in eleven months following concerns over Britain’s future in the European Union and London’s mayor joining the “Brexit” camp. The Sterling dropped 2.1% against the dollar, now at $1.4102. The dollar topped a basket of leading currencies with a 0.87% gain after some strong data from the U.S on Friday. The buck is firm against the Yen at 113.34 Yen. The Euro seen weaker with a 1% fall against the dollar. The Aussie and Kiwi both hover around the 1.5% higher.

Market Review 8-2-2016

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Shares see red following mixed U.S data, Nikkei breaks four days low

European stocks took a dive to their lowest since 2014 today with the pan-European STOXX 600 down by 2.7%, the FTSE 100 dropping 2.2%, the German DAX 2.9% lower and the French CAC 40 falling by 2.8%. The negative trend is due to a mixed employment data report from the U.S that had traders guessing the Federal Reserve’s next move.  The U.S nonfarm payroll data was published on Friday, stating that the American economy grew by 151,000 new jobs in January – Less than estimated by economists that predicted a gain of 190,000 jobs. But the U.S market also received some good news as the unemployment rate dropped by 4.9% from 5% and wages climbed by 0.5%. The upbeat data could result in another interest rate hike from the Fed as early as this year. Wall Street brokers had another reason to bite their fingernails as technology stocks experienced a steep fall. The Nasdaq dropped by 3.25 following a loss in the Apple shares and Biotechnology ETF (IBB). The Dow Jones Industrial Average fell by 3 digits and closed 1.29% lower and the S&P 500 ended session unchanged.

The Australian and Japanese markets erased previous losses this morning. Markets in China, Hong Kong, Taiwan and other major bourses in Asia were closed for the lunar New Year celebrations. The ASX 200 closed flat at 4,975.40 after erasing 0.70% losses and the Japanese NIKKEI 225 closed up by 1.10%, breaking a four- session losing streak.

Oil slips as gold surges to new three month high

Crude oil prices eased down following a meeting between OPEC officials, Saudi Arabia and Venezuela representatives. The discussions produced no real indication for steps to be taken to raise oil prices.  Brent Crude fell by 72 cents to $33.34 a barrel and U.S crude futures lost 84 cents, down to $30.04 a barrel. OPEC is set to release its monthly report on Wednesday and the International Energy Agency on Tuesday. Gold had its biggest rise since 2013 this week as stocks decline and global growth concerns prompt a weaker dollar. Investors seek safe-haven in the precious metal, pushing it up 0.55% to $1,180.01 an ounce.

The Yen finds strength while Euro banks equities tumble

The Japanese Yen rises against the greenback by 0.5% following concerns over the drop in European banks shares. Another refuge currency, the Euro, dropped by 1% against the safe-haven Yen and by 0.6% against the dollar, now at $1.1092. Worries over the economic growth in the U.S had the dollar fall to its lowest in four years last week, but strong employment data managed to stabilize the buck. The dollar is still under pressure on an interest rate hike speculations. Investors are focusing on Fed’s chair Yellen’s talk on Wednesday.

 

 

Market Review 4-12-2015

Euro tumbles on solid U.S data and Draghi comments

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The dollar seen higher against the European currency on Friday after the U.S jobs report showed a solid rise in jobs and payroll. The greenback also gained against the Yen and Swiss Franc, last higher by 0.55% and at 123.21 Yen, and up by 0.61 at 0.9967 franc. The Euro lost 0.62%, now at $1.0871. The common currency hit a low after ECB president Mario Draghi’s speech in New – York, cutting interest rates on deposits by only 10 points. The Ruble is set for its biggest loss for the week following OPEC’s decision to expand crude output. The Russian currency fell by 1% against the buck at 68.0920. Russia makes about 50% of its budget revenue from oil and natural gas export. The price of oil in rubles dived to its lowest since 2009.

Crude edges lower after OPEC maintaining production policy

Oil prices edged lower after OPEC announced it will be taking a “wait and watch” approach, and will be maintaining oil production to retain market share. Brent crude dropped by 80 cents to $43.05 a barrel and U.S crude lost 2.7% at $39.97 a barrel. The OPEC organization did not break under pressure poorer members of the cartel and refused to cut down in crude production, leaving it at current level. Gold prices climbed up by 2%, reaching a two – week high following the U.S non-farm payroll report that seems to support an interest rate hike as early as this month. Spot gold gained 2.3% to $1,086.51 an ounce. Silver rose as well by 2.5% and traded at $14.44 an ounce. Platinum added 3% to its value, now at $870.60 an ounce.

Strong jobs report has wall street surging

Stocks in the U.S climbed by 2% on Friday following a better – than – expected jobs report, a supported rates hike from the Federal Reserve in December and European central bank  president Mario Draghi’s dovish stand on monetary policy.  The S&P 500 gained 0.08%, the Dow Jones Industrial Average added 0.3% with Goldman Sacks leading the gains and the Nasdaq composite closed up by 1.7%. The recent up lifting employment data managed to drag stocks out of their Thursday fall, reporting a rise in hourly pay, jobs and a 5% unemployment. The recent jobs report is the last of the most meaningful releases before the much – expected hike from the Fed. The Fed is scheduled to raise interest rates for the first time in a decade in its meeting on December 15 and 16. European shares, on the other hand, closed lower as investors react to U.S jobs data, OPEC’s policy meeting and the European Central Bank easing monetary policy. The ECB president Draghi announced there will be further assets purchasing and cuts in deposit rates.  UK’S FTSE closed down by 0.6%, the German DAX lost 0.3% as did the French CAC 40. Among leading stocks was Volkswagen that closed up by 0.1% after announcing a new supervisory board chairman, mending the company after the emission scandal. In Asia, equities dropped to a three – week low as traders eye the Fed’s testimony on an improving job market in the U.S and ECB’s easing measures. Hong Kong’s Hang Seng lost 0.81%. The Japanese NIKKEI 225 fell by 2.81% to a three-week low while a merger between Toshiba, Fujitsu and Sony’s PC spin – off businesses was announced on Friday. The merger will challenge the current market leader in Japan – Lenovo. China’s Shanghai composite tumbled 1.66% with major banks closing in the red.

 

 

 

Market Review 4-12-2015

Euro tumbles on solid U.S data and Draghi comments

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The dollar seen higher against the European currency on Friday after the U.S jobs report showed a solid rise in jobs and payroll. The greenback also gained against the Yen and Swiss Franc, last higher by 0.55% and at 123.21 Yen, and up by 0.61 at 0.9967 franc. The Euro lost 0.62%, now at $1.0871. The common currency hit a low after ECB president Mario Draghi’s speech in New – York, cutting interest rates on deposits by only 10 points. The Ruble is set for its biggest loss for the week following OPEC’s decision to expand crude output. The Russian currency fell by 1% against the buck at 68.0920. Russia makes about 50% of its budget revenue from oil and natural gas export. The price of oil in rubles dived to its lowest since 2009.

Crude edges lower after OPEC maintaining production policy

Oil prices edged lower after OPEC announced it will be taking a “wait and watch” approach, and will be maintaining oil production to retain market share. Brent crude dropped by 80 cents to $43.05 a barrel and U.S crude lost 2.7% at $39.97 a barrel. The OPEC organization did not break under pressure poorer members of the cartel and refused to cut down in crude production, leaving it at current level. Gold prices climbed up by 2%, reaching a two – week high following the U.S non-farm payroll report that seems to support an interest rate hike as early as this month. Spot gold gained 2.3% to $1,086.51 an ounce. Silver rose as well by 2.5% and traded at $14.44 an ounce. Platinum added 3% to its value, now at $870.60 an ounce.

Strong jobs report has wall street surging

Stocks in the U.S climbed by 2% on Friday following a better – than – expected jobs report, a supported rates hike from the Federal Reserve in December and European central bank  president Mario Draghi’s dovish stand on monetary policy.  The S&P 500 gained 0.08%, the Dow Jones Industrial Average added 0.3% with Goldman Sacks leading the gains and the Nasdaq composite closed up by 1.7%. The recent up lifting employment data managed to drag stocks out of their Thursday fall, reporting a rise in hourly pay, jobs and a 5% unemployment. The recent jobs report is the last of the most meaningful releases before the much – expected hike from the Fed. The Fed is scheduled to raise interest rates for the first time in a decade in its meeting on December 15 and 16. European shares, on the other hand, closed lower as investors react to U.S jobs data, OPEC’s policy meeting and the European Central Bank easing monetary policy. The ECB president Draghi announced there will be further assets purchasing and cuts in deposit rates.  UK’S FTSE closed down by 0.6%, the German DAX lost 0.3% as did the French CAC 40. Among leading stocks was Volkswagen that closed up by 0.1% after announcing a new supervisory board chairman, mending the company after the emission scandal. In Asia, equities dropped to a three – week low as traders eye the Fed’s testimony on an improving job market in the U.S and ECB’s easing measures. Hong Kong’s Hang Seng lost 0.81%. The Japanese NIKKEI 225 fell by 2.81% to a three-week low while a merger between Toshiba, Fujitsu and Sony’s PC spin – off businesses was announced on Friday. The merger will challenge the current market leader in Japan – Lenovo. China’s Shanghai composite tumbled 1.66% with major banks closing in the red.