Oil Prices Rally After US Energy Data, USD and EUR Rise Against Yen
September 11, 2015 6:23 am
US stocks ended the session in positive territory after a volatile session in which Apple and biotech stocks led the charge. Asian shares also climbed higher but gains were limited by uncertainty over whether the Federal Reserve will raise interest rates next week. The Dow closed 76 points higher at 16330, the S&P500 rose 10 points to close at 1952.
The USD appears to be heading for a 1.5% weekly gain, rising 0.2% to 120.82 yen after hitting a ten day high against the Japanese currency, at 121.38 overnight. The Yen was also on the retreat against the Euro; the common currency rose to a two-week high of 136.45 Yen, having gained 2.7% so far this week. The Euro was steady at $1.1248 and on track for a 1.3% weekly rise. The Aussie Dollar, after climbing 0.8% overnight, was holding firm at $0.7067. GBP, which hit a two-week high against USD at $1.5476 on the bank’s optimistic outlook, last traded around $1.5443.
U.S. crude slid 0.2% at $45.82 a barrel, after rallying 4% on U.S. Energy Information Administration data that showed strong demand for gasoline. Brent, which gained 2.8% in the previous session, was slightly lower at $48.87. Spot gold nudged up from U.S. levels to $1,112.20 an ounce, but was still on track to drop by nearly 1% for the week.
Within the equity space full year pre tax profits fell 2% to £77.8m at pub group JD Wetherspoon as the company continued to battle competition from supermarkets and restaurant groups. Revenues were up 7.4% to £1.5bn in the year to 26 July 2015 while like for like sales rose 3.3%
US stocks ended the session in positive territory after a volatile session in which Apple and biotech stocks led the charge. Asian shares also climbed higher but gains were limited by uncertainty over whether the Federal Reserve will raise interest rates next week. The Dow closed 76 points higher at 16330, the S&P500 rose 10 points to close at 1952.
The USD appears to be heading for a 1.5% weekly gain, rising 0.2% to 120.82 yen after hitting a ten day high against the Japanese currency, at 121.38 overnight. The Yen was also on the retreat against the Euro; the common currency rose to a two-week high of 136.45 Yen, having gained 2.7% so far this week. The Euro was steady at $1.1248 and on track for a 1.3% weekly rise. The Aussie Dollar, after climbing 0.8% overnight, was holding firm at $0.7067. GBP, which hit a two-week high against USD at $1.5476 on the bank’s optimistic outlook, last traded around $1.5443.
U.S. crude slid 0.2% at $45.82 a barrel, after rallying 4% on U.S. Energy Information Administration data that showed strong demand for gasoline. Brent, which gained 2.8% in the previous session, was slightly lower at $48.87. Spot gold nudged up from U.S. levels to $1,112.20 an ounce, but was still on track to drop by nearly 1% for the week.
Within the equity space full year pre tax profits fell 2% to £77.8m at pub group JD Wetherspoon as the company continued to battle competition from supermarkets and restaurant groups. Revenues were up 7.4% to £1.5bn in the year to 26 July 2015 while like for like sales rose 3.3%
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