Precious metals finished last week on the negative note as Wednesday's FOMC minutes raised concerns that the Fed may end its growth-boosting measures sooner-than-expected. However, disappointing numbers from the U.S. economy coupled with weaker greenback limited the downward trend. Gold closed near a 21-month low amid persistent decline in investment demand. Holdings in ETPs backed by the yellow metal dropped 2,406.16
Gold spot price lost 6.2% to $1,483 an ounce last week, what was the biggest slide since December 2011. However, financial institutions, such as hedge funds, added more bullish bets on gold, net long positions increased by 19% in the week ended at 9th of April, as the precious metal market entered a bear's market. Also, investors are affected by Goldman
The Canadian Dollar, also known as kiwi, depreciated by 0.3% to 1.0136 per U.S. Dollar in the morning of Toronto trading hours on Friday. The kiwi lost its value against the U.S. counterpart for the first time this week, as sales data in the U.S was the worst in previous nine months. Sales were 0.4% worse in March, as in February
West Texas Intermediate oil futures for May settlement were lower by $2.90, or 3.1%, to $90.61 per barrel by midday trading session in New York on Friday. The price of oil slipped to a one-month bottom, as Commerce Department announced retail sales numbers, which indicated a 0.4% slide in sales in March, the most since June, 2012. Also, an index
The 17-nation bloc currency decreased against the majority of its counterparts on Friday amid concerns about escalating debt crisis before a meeting of the Eurozone's finance ministers discussing situation in Cyprus, Greece and Slovenia. The Euro dip 0.2% to $1.3072 earlier on Friday London session after it rose to its strongest since February 28 at $1.3138 yesterday.
The Australian and New Zealand's currencies are heading for a weekly gain on Friday before a data showed that Chinese economy expanded at the fastest rate in a year in the Q4 and amid speculation that BoJ's monetary easing will increase demand for overseas investments. The Australian Dollar rose 0.1% to $1.0550 after touching the highest since January 11 at
Core inflation in Spain stayed flat in March from the month before, however, the overall consumer price index dropped in line with original estimates from 2.8% in February to a level of 2.4% in March, the statistical office INE reported on Friday. The report showed the core CPI excluding fresh food and energy remained at 2.3% in March, the highest
Industrial output in the 17-nation bloc rose at the faster pace than preliminary estimated on February after it was falling in the previous month, a data revealed by the statistical office Eurostat showed on Friday. According to the data industrial production advanced 0.4% in February reversing a 0.6% decline recorded in January, while it was forecast to gain 0.2% in
British economy's leading economic indicator improved for the second consecutive month on February suggesting that the U.K. economy may avoid a triple-dip recession recovering modestly later this year, the Conference Boards reported on Friday. The leading economic index rose 0.4% on a monthly basis to 102.4 in February after increasing 0.2% in the prior month.
Wholesale price inflation in Germany increased at the weakest rate since December 2009 in March with the wholesale price index rising annually by 0.3% after gaining 1.4% in the previous month, a report released by the Federal Statistics unveiled on Friday. The report also showed the headline index declined 0.2% on a monthly basis in March following a 0.1% jump the month before.
Hong Kong shares retreated on Friday, as analysts expect the Chinese economy to grow slower than expected in January-March. The Hang Seng Index lost 0.1%, or 12.22 points, to 22,089.05. Utilities and financials increased the most by adding 0.6% and 0.1%, respectively. Esprit Holdings Ltd, a manufacturer and retailer of fashion clothes, surged 1.7% to HK$9.99. Furthermore, Henderson Land Development
Inflation based on the consumer price index in India slowed down in March after it was rising for five successive months, a report released by the Central Statistics Office showed on Friday. The report showed the general CPI advanced 10.39% on an annual basis in March following a 10.91% increase recorded in February; the March's level is the lowest since
Japanese equities traded red on Friday as the Yen appreciated against the Dollar weighing on the blue-chip companies dependent on exports. The Nikkei 225 Index declined 0.5%, or 64.02 points, to 13,485.14, yet close to its highest value in 20 months. Japanese electric companies were among the top performers, as the utility sector surged 2.9%. Tokyo Electric Power Co Inc
French current account balance came in deficit in February from the month before, however, the current account gap narrowed, a data released by the Bank of France revealed on Friday. The data said the seasonally adjusted current account deficit shrank to 4.947 billion euros in February from January's level of 5.020 billion euros, while in February the current account gap
U.S. blue chips surged on Thursday, as jobless-benefit claims fell more than expected. In addition, retailers jumped amid advance in March sales. The Dow Jones Index climbed 0.4% to 14,865.14 points, the highest value ever. 25 out of 30 companies and eight out of nine sectors included in the gauge posted gains. Pfizer Inc, a pharmaceutical corporation, rallied 2.4% to
Gold futures are set to record its third weekly loss as investors are seeking for higher-yielded assets amid speculation the Federal Reserve may begin pulling back its bond purchases as the economy recovers. Bullion for delivery in April was traded at $1,563.60 an ounce as of 2 p.m. Singapore time after it declined to the lowest in one week at
Japan's government bonds dropped on Friday falling four fourth day this week as demand for securities was curbed by the Bank of Japan's offer to purchase short- to long-term securities in a total value of 2.51 trillion yen ($25.3 billion). The Japanese benchmark 10-year yield increased by six basis points to 0.635% at 4:24 p.m. Tokyo time after the rate
U.S. stocks advanced, with the Standard & Poor's Index climbing for a fourth consecutive day, as retailers rallied on rising sales in March and the applications for unemployment benefits dropped more than expected. The S&P 500 Index surged 0.4% to 1,593.37. All but one group in the index edged higher. GameStop Corporation, a developer of electronic game and PC entertainment
The U.S. Dollar depreciated versus the majority of its counterparts on Friday before a report showed that retail sales in the U.S. stalled in March suggesting the Federal Reserve may need to keep its loosen monetary policy in order to recover the economy. The U.S. Dollar slipped 0.2% to 99.46 yen after it touched its highest in four years at
West Texas Intermediate oil decreased for the second straight day on Friday as the International Energy Agency reduced its global oil demand forecast, however prices are set to record the fifth weekly gain in six weeks. WTI for delivery in the next month dropped 36 cents to $93.15 a barrel on the NYMEX and was traded at $93.17 as of
Emerging-market shares decreased on Friday snapping a four-day rally as Infosys (INFO) ltd's forecast of sales matched expectations and economists projected slow recovery of South Korean carmakers and shipbuilders. The MSCI Emerging Markets Index declined by 0.6% to 1,023.48 as of 1:35 p.m. Hong Kong time paring its rise this week to 1.5%.
German government bunds were little changed on Friday with the benchmark 10-year yield heading for its weekly drop before a report showed that industrial output in the Eurozone increased in February. 10-year rate was at 1.30% at 7:09 a.m. in London after the yield increased to 1.33% yesterday, the highest level since March 27.
U.S. Treasuries were set to record a weekly loss as the President of the Philadelphia Federal Reserve Charles Plosser said that the central bank should change its loosen monetary policy and reduce bond purchases in next few months. U.S. benchmark 10-year yield was little changed at 1.79% at 7:08 a.m. London time and the price of the bonds were at
European shares declined on Friday ending a four-day rally for the benchmark Stoxx Europe 600 Index before the U.S. retail sales report showed steady level of sales and as Eurozone's finance ministers meeting in Dublin. The Euro Stoxx 50 Index futures declined 0.5% to 2,603 earlier on Friday London session, however the Stoxx 600 has advanced 5.5% this year.