Silver prolonged its four-day jump, rising on positive physical demand and strong report from China, touching the highest level since June 20. Silver futures increased 3.42% to $21.105 per ounce, mainly driven higher by gold, adding to signs silver has plummeted about 30% and the gold retreated almost 25% in 2013.
The Japanese Yen depreciated after a government data that indicated on Japan's economic slowdown in the second quarter of the year, spurring speculation that nation's central bank will have to boost the monetary stimulus measures. The Yen dropped 0.3% to 96.53 per Dollar at 7:58 a.m. in London after reaching 95.81 on August 8, while it fell 0.1% to 128.56
The British currency was little changed versus the greenback and shared currency ahead of the U.K. house prices data in July that are expected to be at the highest level in three years. The Sterling was at $1.5490 by 7:39 a.m. in London after reaching $1.5574 on August 8, the strongest since June 19, while it traded at 86.04 pence
The Dollar Index gained for a second straight day ahead of U.S. retail sales report that is expected to show an advance for fourth month in a row, indicating on that the Fed might start tapering soon. The Dollar Index added 0.1% to 81.238 at 6:45 a.m. London time. The U.S. Dollar climbed 0.3% to 96.51 Japanese Yen, after falling
Canadian stock markets were red after employment data for July missed analysts' forecast. Dorel Industries plummeted 15% after showing lower-than-projected earnings and revealed plans of job cuts. The Standard & Poor's/TSX Composite gauge dropped 0.1%, or 14.88 poijnts, to 12,538.04 as of 9:49 a.m. Toronto time.
Brazilian Real appreciated as the nation's central bank intervened by auctioning foreign-exchange swaps and as China, the largest trading partner of Brazil, showed better-than-expected industrial output. The Real gained 0.3% to 2.2769 per greenback as of 10:30 a.m. Sao Polo time, extending its advance for this week to 0.5%.
U.S. stocks traded lower at opening as major economic reports or news are not expected today, and as investors are worried about the Federal Reserve's asset purchases programme. The S&P 500 gauge declined 0.17% to 1,694.66 at 1:32 p.m. GMT. The Nasdaq Composite decreased by 0.08% to 3,666.10. The only economic news released today will be the wholesale inventories for
The Canadian Dollar fell 0.24% to C$1.0432 against the greenback at 12:36 a..m. GMT as Canada's jobless report showed disappointing results. Employment declined by 394,000 in July, while stayed unchanged in June. Unemployment rate reached 7.2% in July. The nation's employment indicators have been fluctuating in the last few month and the unemployment rate is fairly steady, a bit above
WTI futures gained 1% as China posted its industrial production report which overshot estimates, increasing expectations for higher demand for the oil. WTI futures rallied 1.07% to $104.51 per barrel, with the European benchmark Brent declining 0.68% to $107.41 per barrel. Chinese industrial output climbed 9.7% in July, beating analysts expectations of a 8.9% rise.
Gold declined in London amid bets the Federal Reserve will scale back bond purchases. Gold for immediate settlement retreated 0.3% to $1,309.48 per ounce, while silver plummeted 0.1% to $20.2475 per ounce. Gold ETP holdings slipped 0.1% to 1,946.917 metric tons yesterday, the lowest level since May 2010.
The growth rate of Russia's economy most likely accelerated, while it failed to do so for the last six quarters. According to Bloomberg economist survey, GDP gained 2% in the second quarter from a year earlier. The growth most likely was still mainly driven by household consumption. The official GDP report will be published later today.
U.K. construction industries added output significantly in the second quarter, more than estimated before. The nation's construction sector expanded 1.4%, while it contracted 1.8% in the first quarter. The output lost 0.7% on month-on-month basis between May and June. PMI that measures business activity in the construction sector has been above the contraction mark for three months.
Most shares in Switzerland gained after Chinese trade data topped the estimates. The Swiss Market Index gained 0.2% to 7,967.98 as of 10:49 Zurich time, as two stocks rose for each that slipped. The equity-benchmark is little changed weekly; however, it has advanced 17% this year to date, while the Swiss performance Index added 0.2% today.
U.K. trade balance deficit shrank in June after trade data showed that overseas sales increased by 4.9%, making it the best quarterly export performance. The trade deficit dropped to 8.1 billion Sterling compared to 8.7 billion in May, making it the lowest reading in a year, according to Office for National Statistics. The exports rose approximately 5% to 78.4 billion
The U.S. Dollar headed towards a weekly fall versus all its major peers after data showed that China's, Europe's and U.K's economies are strengthening, curbing demand for the greenback. The U.S. currency remained steady at 96.63 versus the Yen, headed towards a weekly drop of 2.3%. The 17-nation currency was flat at $1.3381.
The Sterling strengthened versus the U.S. Dollar, as the Federal Reserve does not provide signs on when it may begin to taper bond purchases, and after the release of trade balance report for June. The Britain's currency advanced 0.12% to $1.5556 versus the greenback and increased 0.09% to 0.8604 against the Euro, and gained 0.10% to 150.36 against the Japanese
U.K. shares increased for the second day, with the FTSE 100 Index paring the largest weekly fall since June, following data that indicated Chinese industrial production advanced more-than-expected in July. The FTSE 100 added 10.37 point to 6,540.05, while the FTSE All-Share Index inched up 0.2% and Ireland's ISEQ Index rallied 0.4%.
Asian benchmark shares index is set to halt its longest one-week streak of gains since January as Nikon Corp. profit forecast was lowered. The MSCI Asia Pacific Index slipped 0.1% to 133.58 at 2:23 p.m. Hong Kong time; however, the equity-benchmark is set for a 1.5% fall weekly, snapping one and a half month of gains, making it the longest
German government bunds declined, prolonging a weekly fall, ahead of data that analysts said will indicate industrial output in France increased in June. The 10-yer bond yield jumped two basis points to 1.71% and the 1.5% bond maturing in May 2023 retreated 0.165 to 98.17, adding to signs German bunds contracted 1.4% this year.
European shares rose for a second straight day after Chinese trade data topped the expectations. The Stoxx Europe 600 Index added 0.3% to 304.94 as of 8:08 a.m. London time and it is set for 0.3% advance this week. The gauge has increased 11% since June 24, when it reached the lowest level after ECB and BoE stated that they
The Australian currency jumped against the greenback as better-than-forecast China's industrial output helped the Australian Dollar to stay above $0.91. The Australian Dollar advanced 0.45% to $0.9143 versus the U.S. Dollar and rose 0.53% to A$1.4626 against the Euro. Chinese industrial output grew 9.7% in July from a year ago, overshooting analysts expectations of 8.9% jump.
The Canadian Dollar appreciated to the highest level in approximately a month after China's and Germany's trade data topped the estimates, spurring bets that demand for Canada's commodities will rise. The Loonie gained 0.9% to C$1.0328 per U.S. Dollar as of 5 p.m. Toronto time, after it climbed 1.1% to C$1.0304 earlier, the highest level in a week.
The British currency was little changed versus the greenback and the shared currency, headed for gains this week against both peers, ahead of U.K. construction data that are expected to show a decline. The Sterling was at $1.5552 by 7:49 a.m. in London after appreciating to $1.5574 on Thursday, the strongest level in almost two months, while it traded at
Gold futures rebounded reacting to the greenback's depreciation and the U.S. jobless claims data. Investors are still waiting for any signals on how long the Fed will maintain the quantitative easing programme. Prices of the yellow metal added 1.47% to $1,304.40 per ounce, while silver advanced 3.06 to $20.105 per ounce.