Wednesday 13th September Business & Commercial Briefing: including Forex movements, Gold and FTSE 100
Commodities Update – The Latest from the Financial Markets FTSE & DOW
Equities and Assets The Markets react to weakened Dollar
European equity markets fell steeply across the board, with US stocks expected to follow suit after early falls in Japan and Korea. Gold futures prices jumped to highs of $1,331.90 per troy ounce as investors bought safe havens.
Oil Prices Rise again due to Supply Issues
Oil prices rose today after official US data showed a decline in crude inventories for the eighth straight week. Brent crude, the global benchmark, lifted 0.89 per cent to $52.33 a barrel while US benchmark West Texas Intermediate (WTI) futures increased 0.86 per cent to $48.24 a barrel.
Gold Prices rise to $1300 per ounce
Gold prices have risen to the highest level since November last year as investors shift away from risky assets in the wake of geopolitical uncertainty. Futures for the yellow metal rose to $1,303.90 per ounce late this morning, while spot gold remained just below $1,300 per ounce.
Keep a track of the latest movements on all the important commodities form around the globe.
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Forex – Today’s Exchange Rates & Latest Prices on Cryptocurrencies
The rise of Bitcoin earlier this weak to $5000 has resulted in a drop by 12%. The pound has become weaker and is effecting foreign investment into the UK. Which has again fallen.
Bitcoin hits a three week low as it gets slammed as ‘Volatile’
Bitcoin prices have tumbled over $1,000 over the past month as China clamps down on cryptocurrency. Chinese authorities have reportedly decided to ban the trading of Bitcoin and other cryptocurrencies on domestic exchanges. That has pushed Bitcoin as low as $3,978 over the weekend. It has since ticked upward to about $4,177 as of early Monday.
Additionally JP Morgan Chase chief executive Jamie Dimon slammed cryptocurrencies as a “fraud” last night, pushing the already slipping value of Bitcoin down another notch.
The Pound rises against the Euro
The pound rose to more than a three-week high against the euro today as investors speculated that the Bank of England may sound more hawkish on interest rates this week. The pound gained 0.2 per cent today, at less than 91 pence per euro for the first time since 18 August.
The US Dollar hits a 12 month low
The US dollar fell to its lowest level in 18 months on This morning as North Korean tensions and flooding in Texas added to the strong euro to drive the greenback lower. Despite the physical threat to the Japanese mainland, the yen, a traditional safe haven, appreciated sharply against the dollar. The dollar fell to its lowest level since April 2017 against the yen in morning trading, at ¥108.27.
Get the latest information from the financial markets. Including the latest value on the Dollar, Pound, Euro, Pak Rupee, UAE Dirham, Indian Rupee. This section also includes all the latest information the cryptocurrencies.
Your daily Business Briefing of all the relevant news and updates in the Business world, sourced & referenced, regarding today’s market updates, currency updates,Stocks and share movement on a Global scale.
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