Farm commodities except for corn rallied on Wednesday on crop-harming weather in the US, Brazil and India. Moreover, commodity group faced an increased volatility as investors were nervous, awaiting USDA report released during the US morning session on Wednesday. Wheat rose as dry and hot weather is likely to persist in the US. Moreover, wheat caught moment after USDA cut global
Nikkei 225 posted the largest decline in more than a month on Wednesday after BoJ refrained from additional easing measures. FOMC minutes also added pressure on the Japanese stocks. Fed did not announce extension of asset-purchasing policy despite faltering US economy. Meanwhile, high-tech equities remained weak after Tuesday's profit warnings from the US. Sharp and Panasonic tumbled 7% and 4.5%.
Energy commodities surged on Wednesday despite stronger US Dollar and continuous global growth concerns. EIA report release and hot weather forecasts in the US provided support for the commodity group. Crude oil soared after EIA reported that US crude oil inventories declined much more than expected last week. However, crude oil came under pressure as worries over supply disruptions from Norway
Dow Jones Industry Average ended US session with moderate loss of 0.38% on Wednesday after disappointing Fed minutes. Lack of additional stimulus for the US economy created notable pressure on the US equities. Only oil and gas sector went higher, advancing by 1.20% on soaring energy prices. EIA report indicated that a decline in US crude oil inventories was much
Industry metals, excluding aluminum, advanced on Wednesday despite stronger greenback and global demand concerns. Adding pressure on the commodity pack, Fed officials were indecisive in regards to the next round of QE. Aluminum was the only loser on continuous closures of mines amid low prices. United Co Rusal, world's largest aluminum producer, plans to halt about 70,000 MT of output at
US stocks declined for the fifth consecutive day on Wednesday as Fed minutes indicated that US economy still faces a lot of downside risks, comprising possible budget crisis in Washington and persistent stagnation in the Eurozone. At the same time, the Fed was not ready to launch more measures to stimulate US economy. S&P 500 closed almost flat with minor
Precious metals were slightly higher on Wednesday despite disappointing FOMC minutes. Fed members were divided on launching more stimulating measures thus implementation of QE3 seems less likely in the next meeting in August. Gold climbed 0.59% despite inaction of the Fed. The yellow metal found some support on easing measures in the EU and China. Silver followed the gold's suit, rising by
As the crisis is hitting, the Euro is now around a two-year low versus the greenback, currently at 1.2234, and European shares slide down as well. At the same time the US Dollar gains in value across the board, as against a basket of its key counterparts it is now trading for 83.49, while before overnight trade the index was at a record high
The Central Bank of Brazil decreased the benchmark interest rate by 50 basis points to 8%. Lower rate is supposed to bolster the economy and is a part of the overall looser monetary policy, to which the central bank started to adhere in August last year, when the interest rate was at 12.5%. However, the Brazilian currency has not been
The Bank of Korea decreased its interest rate for the first time since February 2009. Seven-day benchmark interest rate was cut by 0.25% to 3%. Moreover, bond prices jumped, leading to record low yield, therefore, bonds for June 2015 lost 0.23% and now have interest rate of 2.97%. The Won instantly fell against the US Dollar by 0.7% to KRW 1148.85 per USD. Governor Kim Choong
As last week, it was reported that the sales of Peugeot decreased by 13% and overall, the company is experiencing losses, it was decided to close down the most unprofitable plants in France. This means that around 8,000 workers will lose their jobs. However, the company added that they will help and support these workers in finding a new place
The Australian Bureau of Statistics posted new data regarding the labor force on Thursday, July 12. It says that 27 000 job places were cut in July. This action most likely will rise unemployment level from 5.1% to 5.2%. Full-time workers were the main target for eliminating. In June 2012 was the biggest cut of full-time employees since November 2011 amounting to 33 500 position.
Japan's ten-year government bond interest rate has recorded the lowest value since 2003 of 0.77% as the asset-purchase budget increased to 45 trillion Yen by the Bank of Japan. The five-year yields also decreased in value, reaching 0.175% going down by one basis point.
In June, this year, payrolls were decreased, thus increasing the unemployment rate to 5.2% in July. As reported by the Statistics Bureau in Sydney, the numbers by 27,000 jobless people as there is a lack of full time employees. Furthermore, the Australian Dollar weakened against the US Dollar to USD1.0193, with the interest rate of the one-year bonds going down
German DAX Index advanced 0.66% to trade at 6,438 on Wednesday despite mounting Eurozone's debt pressure after Italy's borrowing costs surged above 6%. Metro dropped 1.80% after Tuesday's rally while Deutsche Post retreated 1.12%. Meanwhile, Health care sector moved higher, with Fresenius and Fresenius Medical Care rising by 1.10% and 1.22%. Financials were mixed. Deutsche Bank increased by 0.04% whereas
UK stocks declined on lingering concerns over the Eurozone's economy. The German Constitutional Court delayed its decision regarding planned changes in bailout rules on Tuesday. Financial stocks extended losses, with Lloyds Banking, Barclays and HSBC tumbling by 1.68%, 1.20% and 0.34%, respectively. Commodity producers also declined. Rio Tinto and BHP Billiton retreating 1.25% and 1.14%. Meanwhile, Glencore International soared 1.53%
Hong Kong shares closed slightly higher on Wednesday as strong performance of the China's real estate industry outweighed weakness of financials. Hang Seng Index rose 0.1% to 19,419.9 as stable investments in infrastructure provided additional support for the cement and railway stocks. Financial sector lost 0.10% after reports that Hong Kong's banks were exposed to bed loans. China Construction Bank
Nikkei 225 Index moved lower by 0.08% on Wednesday's session to trade at 8,851 ahead of the FOMS minutes release due later in the day. However, speculation that the Bank of Japan will announce additional easing measures after Thursday's meeting supported Japanese shares. Meanwhile, chip-makers were dragged lower by weakness of the US technology sector. Advantest and Dainippon Screen declined
Spot gold prices went up on Wednesday, July 11, after biggest decline since June. Gain of 0.4% brought price to USD 1574.50 an ounce after 1.4% decline on July 10. However August-delivery gold futures contract fell by 0.3% to USD 1574.80 in the USA. Though gold prices now are highly dependent on Eurozone's finance ministers decision on resolving debt crisis. Analysts expect spot gold to
Rural commodities apart from coffee declined on Monday on speculation that weather conditions in the US top-growing regions are likely to improve in the nearest future. Meanwhile, traders are cautious ahead of the USDA global crop report due on Wednesday. Wheat fell as expectations for cooler weather and rains in the northern part of the US Great Plains will ease
Energy commodities lost supply risk premium on Tuesday and ended the day on the negative note. Stronger US Dollar and continuous turmoil in the single currency union also created notable pressure on the commodity group. Crude oil plunged more than 2% after Norway's government demanded oil workers to stop the strike. Brent oil retreated as China's oil imports dropped in June.
Dow Jones Industry Average followed bearish trend on Tuesday, falling by 0.65% to 12,653.1. Investors tended to switch to safe-haven assets despite anticipation of FOMC meeting. Falling commodity prices and forthcoming corporate earnings reports added pressure on the US blue chips index. The top-loser was aluminum maker, Alcoa, which cut its earnings estimate for 2012 amid weak aluminum prices. However,
Industry metals declined in a choppy session ahead of the FOMC meeting due on Wednesday. Moreover, weak imports data from China and spiking borrowing costs in Spain and Italy weighted on base metals. Aluminum lost 0.68% amid strong greenback and global growth fears. However, Alcoa predicted stronger demand in the next quarters thus bolstering light metal's price. Copper declined as recent 17.5%
Precious metals tumbled on Tuesday on weaker Euro as uncertainties in the Eurozone continued to mount. Moreover, Fed member denied rumours about extension of asset-purchasing programme thus sending the commodity group lower. Gold moved lower after Italian PM said that additional backup may be needed to reduce Italy's borrowing costs. Silver followed gold's suit, falling by 1.96%. Mixed equities and an