Gold snapped some of the previous climbs on Friday, after strong U.S. report from Thursday boosted speculation the the Federal Reserve may begin tapering in September. The December gold contract on Comex decreased 1.10% to $1,397.20 per ounce, and silver futures dropped 2.51% to $23.535 per ounce.
U.K. shares declined, prolonging the FTSE 100 Index's monthly decrease, ahead of the report on U.S. business activity and consumer spending. The benchmark FTSE 100 slipped 0.3% to 6,462.15 and the broader FTSE All-Share Index retreated 0.3%, while Ireland's ISEQ Index declined 0.6%. Shell and BP, largest oil companies in Europe, declined 0.9% to 2,096.5 pence and 0.9% to 446.65,
The Japanese currency snapped its two-day decline and advanced versus the U.S. Dollar, as Japan posted inflation and industrial output report earlier in the day. The Japanese Yen rallied 0.35% to ¥97.98 against the greenback and jumped 0.23% to ¥129.92 against the 17-nation currency, and climbed 0.27% to ¥151.02 versus the Sterling.
The U.S. Dollar headed towards its largest weekly advance in two months versus the Euro on speculation the U.S. data today will boost the case for the Federal Reserve to taper bond purchases. The greenback was steady at $1.3236 versus the Euro and declined 0.4% to 97.95 against the Japanese Yen, while the Yen jumped 0.5% to 129.64 versus the
Canadian currency declined to the weakest level this week ahead of data tomorrow that may indicate the Canadian economy stagnated the most since 2009 in June, while an increase in U.S. economy fueled the case for tapering measures. The Canada's Dollar fell 0.4% to C$1.0523 versus the greenback, adding to signs it has declined 2.4% in August.
The U.S. Dollar stayed high as markets eyed important macro economic report from U.S. The U.S. Dollar remained flat versus the Euro, gaining 0.69% to $1.3246 and advanced 0.86% to 98.47 versus the Yen, and rallied 0.24% to $1.5488 against the Sterling. The second quarter GDP rate in the U.S. advanced to 2.5%, surpassing analysts' expectations of 2.2% growth.
U.K. shares increased, halting the decline for two days in a row, ahead of the release of a report on U.S. economic expansion and as Vodafone Group Plc announced it may sell its 45% stake in the joint venture to Verizon Communications Inc. The FTSE 100 Index increased 32.69 point to 6,462.75, while Vodafone inched up 8.1% to 204.7 pence.
Japanese Yen decreased versus the U.S. currency, as investors have been digesting U.S. plans about a possible attack against Syria after Syria's government possibly used chemical weapons against people. The Japanese currency depreciated 0.54% to ¥98.16 against the U.S. Dollar and plummeted 0.41% to ¥152.19 against the Sterling.
Japanese government bonds increased, sending 30-year note yield to the lowest level in 12 weeks, while the plan of military action in Syria boosted demand for the safer Asian nation's bonds. Japanese 10-year yield decreased to 0.71%. Thirty-year bond yields decreased to 1.745%, the lowest figure since June 10.
Italian government bonds rallied for the second day on bets easing of political tension in Italy will fuel demand for 6 billion-euro auction of five- and 10-year notes today. Italian 10-year yield jumped two basis points to 4.39% and the 4.5% note expiring in May 2023 inched up 0.17 to 101.225. Italy last auctioned 10-year bonds at the average of 4.46% on
Asian benchmark share index advanced from the lowest level in two months after energy stocks climbed as worries military action in Syria will stop global oil supplies boosted crude prices higher this week. The MSCI Asia Pacific Index inched up 0.6% to 129.85, with Japanese Topix index jumping 0.2% and South Korean Kospi Index gaining 1.2%.
Gold dropped from a three-month peak on Syria's tension as economic data from U.S. may add to the case for the Fed's tapering, also technical analysis showed an upcoming reduction in prices. Immediate delivery gold slid for the first time in six days 0.9% to $1,404.88 an ounce and stayed at $1,407.49 as of 2:51 p.m. Singapore time, following a
German 10-year government bunds were steady ahead of data that mayl indicate the unemployment rate in Germany remained near the two-decade low this month. German 10-year note yielded 1.88% and the 1.5% bond maturing in May 2023 remained at 96.67. The German unemployment rate was unchanged at 6.8% in August.
European stocks soared, cutting a three-day drop for the Stoxx Europe 600 Index, while investors awaited U.S. economic growth and unemployment data and also German jobless claims. The Stoxx Europe 600 added 0.6% to 299.72 as of 8:07 a.m. London time, balancing off this month's losses, while the S&P's 500 Index futures advanced 0.3% and the MSCI Asia Pacific Index
The Sterling increased for the second day against the common currency as the Bank of England Governor Mark Carney could not persuade investors that the central bank will maintain interest rates at the record low. The Sterling appreciated 0.3% to 85.62 versus the Euro and remained steady at $1.5519 against the greenback.
West Texas Intermediate decreased under the $110 level and Brent declined under $116 per barrel, as heated oil markets are expecting further steps regarding Syria. The October WTI contract declined 1.11% to $108.86 per barrel, while the European benchmark Brent dropped 1.15% to $115.28 per barrel.
The Australian currency advanced against the U.S. peer, after falling for four days in a row, recovering from the lowest level in three weeks as official report indicated private consumption had increased well ahead of expectations in July. The Aussie rallied 0.38% to $0.8974 against the greenback and gained 0.53% to $1.4839 against the Euro. Private consumption gained 4% in
The Dollar remained above the Euro after its strongest soar in a week prior to U.S. data that might indicate the economy advanced faster than estimated, giving more reason for the Fed to reduce stimulus. The greenback added 0.2% to $1.3315 per Euro at 6:38 a.m. London time, following a 0.4% appreciation yesterday, while the Yen lost 0.2% to 97.79
The Pound appreciated from a three-week low as BoE Governor could not convince investors that interest rates will be kept very low. The sterling added 0.4% to 85.82 pence per Euro as of 3:18 p.m. in London, while the Pound lost 0.1% to $1.5530, following a drop to $1.5429 on August 14. The two-year gilt yield soared 0.05 percentage points
U.S. Stocks were stable, following the S&P's 500 Index plunge to the lowest in eight weeks yesterday, as data indicated pending sales of ready-to-live homes reduced by 1.3% in July and concerns over Syria keep investors cautious. The S&P 500 added almost 0.1% to 1,680.87 as of 10:07 a.m. New York time, while the Dow Jones Industrial Average gained 0.1%
BoE Governor Mark Carney reassured in his speech that interest rates will not rise before jobless rate hits 7%. The jobless rate is predicted to hit 7% not before late 2016, implying that the key rate will remain at ultra low 0.5% until then.
The British currency recovered from the lowest level in two weeks versus the U.S. Dollar, as the BoE's chief Mark Carney spoke about the central bank's future plans. The Sterling dropped 0.32% to $1.5498 against the greenback and dropped 0.17% to £0.8654 versus the Euro, and declined 0.19% to 150.25 versus the Japanese Yen.
Emerging-market shares decreased to the lowest level, driven by Turkey, Egypt and the Philippines,amid worries the U.S. plans to take military action against Syria. The Turkish and Indian currencies depreciated to record low levels. The MSCI Emerging Markets Index retreated 0.8% to 908.32.
Treasuries declined, with five-year bonds snapping a three-day increase, ahead of the U.S. auctions $35 billion of the bonds today. The U.S. five-year bond yield advanced two basis points to 1.55% and the 1.375% security expiring in July 2018 retreated 3/32 to 99 7/32. The 10-year note yield gained to 2.73%.