The U.S. Dollar fell below 100 Yen, attaining the lowest level in near a month amid worries that the Fed will reduce its stimulus. The greenback rose 0.3% to 99.81 Yen as of 6:05 a.m. London time, this four-day 2.8% gain versus the U.S. Dollar was the biggest since May 9, while the Dollar Index touched a near one-month low
The Canadian currency strengthened the most in 12 months versus its U.S. counterpart as the U.S. manufacturing data missed expectations, damping the bets that the Fed will scale back the stimulus. The Canadian Dollar gained 0.9% to C$1.0278 per U.S. Dollar as of 5 p.m. Toronto time after rising 1.1%, the biggest advance since June 29, 2012.
Gold extended gains after the biggest advance in two weeks on speculation that the Fed will continue its stimulus as the U.S. economic data did not meet expectations. Spot gold rose 0.3% to $1,415.15 an ounce and touched $1,411.80 as of 12:19 p.m. Singapore time. The bullion prices climbed 1.7% on Monday, the biggest jump in two weeks, while the
The Australia's and New Zealand's currencies advanced more than 2% versus the greenback on Monday, as the U.S. currency declined following a disappointing U.S. manufacturing report. The Aussie gained 2.1% to 0.9774 against the U.S. currency, while the kiwi also appreciated 2.1% to 0.8101 versus the U.S. Dollar.
Gold advanced on Monday, partially rebounding from the last session's slip, after the US Dollar dropped before U.S. economic report that will show more information on how long the U.S. quantitative easing measures will last. U.S. gold futures gained 0.8% to $1,404 an ounce, and spot gold increased to the highest level of the session by 1.3% and was at
West Texas Intermediate Crude Oil climbed from a one-month low after U.S. shares recovered and the U.S. Dollar depreciated versus its major counterparts. The July WTI crude contracts increased 0.8% to $92.67 a barrel and the July Brent oil contracts climbed 1.1% to $101.53 a barrel. The S&P 500 futures rose 1.3% from the lowest level in three weeks.
The Canadian currency advanced versus its U.S. counterpart after better-than-expected data on manufacturing in Europe raised investors interest in more risky assets. The Canadian Dollar climbed 0.2% to 1.0350 against the U.S. Dollar after reaching the weakest level in a year versus the greenback on May 29.
The 17-nation currency held a rise from the previous week against the U.S. Dollar as the data indicated manufacturing in the Eurozone fell slower than initially expected in May. The common currency remained flat at 1.30 against the U.S. Dollar and climbed 0.4% to 1.2464 versus the Swiss currency, and was steady at 130.53 against the Yen. The Euro bloc
U.S. stock futures climbed after the Standard & Poor's 500 Index recorded its first losses for the week since November amid ideas that data due later in the day may indicate manufacturing was steady in May. S&P 500 futures maturing this month gained 0.5% to 1,637.2. The Dow Jones Industrial Average rose 0.6% to 15,190.
Hedge funds pushed gold prices upwards as slower than expected GDP growth in the U.S. boosted speculations that the Fed will maintain its stimulus. Gold futures increased 0.4% last week while the bullion spot prices has surged 58% since late 2008 due to unprecedented monetary stimulus.
Global fixed income market data showed sharp monthly losses in May after the Dollar rose and shares hit record highs on speculation the U.S. economy's growth will allow the Fed to scale back its monetary stimulus. The U.S. Treasury yields, German and U.K. bonds are all predicted to increase by the end of the year from current positions, while bond
Volatility of Treasury prices will increase when central banks withdraw their stimulus, according to the BIS. Yields on 10-year U.S. government bonds rose 0.46 percentage points last month due to speculation that the Fed could slow down its monetary stimulus amid recovering economy. The jump was the highest since December 2010 when yields rose 50 basis points.
Germany plans to provide EUR 1 billion worth of support to Spanish small and medium-sized enterprises in an attempt to fight rising unemployment. The aid package consists of various financial instruments that will be used to improve Spanish SMEs' capital structure and deal with liquidity shortfalls. The German finance ministry expects other European organizations to contribute to the program as
Manufacturing activity index in the U.K. jumped from 50.2 in April to 51.3 in May - the highest level in 14 months, while economists predicted an increase to 50.3. The level above 50 indicates expansion of the sector. The economy in the U.K. is recovering, although not fast enough, according to Mervyn King, the Governor of the Bank of England.
U.K. shares declined, with the benchmark FTSE 100 Index falling to near one month low, led by weak China's manufacturing numbers and a decline in the U.S. stocks. The FTSE 100 slipped 0.8% to 6,532.42 as of 8:48 a.m. London time, reaching the lowest level in almost a month, while the FTSE All-Share Index also slid 0.8%.
Experts said that there would be little progress in U.S. manufacturing sector before today's official data release. Index above 50 indicates expansion and the prediction stood at 50.7. Growth in factory activity has been slowing since it reached almost a 24-month high in February 2013. It is expected that growing demand for cars and residential construction will lead to higher
The measure of manufacturing activity in the Eurozone increased from 46.7 to 48.3 in May and beat the expectations of 47.8. The gauge below 50 indicates contraction and it has not been above that level since July 2011. Better than expected manufacturing data lead to 0.3% appreciation of the Euro against the U.S. Dollar as of 10:11 a.m. Brussels's time.
According to IMF, the Swedish Krona's strength is not a threat to Sweden's economy and its strengthening shows the country's economic success. The Krona rose 9.7% in the year of 2012 and this appreciation was the biggest among 10 most-traded currencies. The Swedish economy grew 0.6% in the first three months of this year, beating expectations.
U.S. crude-oil prices declined on Monday as the report about China's manufacturing data didn't meet the expectations. Crude oil for July delivery dropped 0.2% reaching $91.81 a barrel on pressure coming from the appreciating U.S. Dollar. The ICE Dollar index strengthened to 82.237 from 82.297 on last week's Friday, the index gained approximately 2% in May.
European shares retreated for a second straight day, prolonging a one-month low; on concerns the Fed will scale back its stimulus and as the Chinese manufacturing dropped. The Stoxx 600 slipped 0.9% to 298.23 as of 8:11 a.m. London time, the lowest level in one month, while Standard and Poor's 500 Index futures gained 0.1% after a 1.4% fall on
The British Sterling rose versus the U.S. Dollar ahead of a report that is expected to show growth in U.K. manufacturing for the first time in four months. The British currency gained 0.3% to $1.5246 as of 7:50 a.m. in London after touching $1.5249 earlier, while the Pound appreciated 0.1% to 85.44 pence per Euro. The Sterling has depreciated 2.4%
Gold gained, prolonging its first back-to-back weekly rally in four months, as the U.S. Dollar's strengthening stopped and the outflows in investor stakes slowed. Spot gold rose 0.7% to $1,397.90 an ounce and was at $1,395.95 as of 2:08 p.m. Singapore time. The yellow metal for August delivery rose 0.2% to $1,395.30 an ounce on the Comex, New York.
Asian shares declined after regional benchmark index fell for a third day in a row as the improving U.S. economic data raised worries that the Fed will wind down the stimulus. The MSCI Asia Pacific Index dropped 0.8% to 133.76 at 1:22 p.m. Tokyo time. Japan's Topix index slipped 2.3%, while the Hong Kong's Hang Seng Index gained 0.5%.
The Japanese Yen extended a three-day advance versus the U.S. Dollar as regional shares fell on worries that the Fed may reduce the stimulus. The Japanese currency appreciated 0.1% to 100.33 per Dollar at 7:52 a.m. London time after gaining 1.9% in the last three sessions, while the Yen traded at 130.64 per Euro.