With Wall Street shut on Monday due to the Labor Day holiday, investors looked to Europe for trading cues. Bourses in the U.K., Germany and France closed flat to lower after regional manufacturing activity for August fell to a 13-month low. The data will likely be closely watched by the European Central Bank as it prepares to hold a policy meeting this Thursday.
Tensions over Ukraine and Russia remain in focus. Reuters reported that the European Union is working on contingencies if Moscow turns off the gas pipes in retaliation to additional sanctions. Separately, Ukraine has begun peace talks with pro-Russian separatists, who say they would be willing to remain as part of Ukraine if granted special status.
Japan's benchmark Nikkei hit a more than one-month high while the yen weakened to a new 2014 low after data showed that summer bonuses and regular pay rose for the second straight month in July. Higher salaries are a vital component of Prime Minister Abe's economic stimulus plan.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities.
Opinions are the authors — not necessarily OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Recommended Content
Editors’ Picks
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
EUR/USD mired near 1.0730 after choppy Thursday market session
EUR/USD whipsawed somewhat on Thursday, and the pair is heading into Friday's early session near 1.0730 after a back-and-forth session and complicated US data that vexed rate cut hopes.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
Bank of Japan expected to keep interest rates on hold after landmark hike
The Bank of Japan is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT.