Wheat traded in Chicago decreased for the second day in a row on Wednesday before a monthly crop report released by the U.S. Department of Agriculture showed that world inventories were higher before the 2013 harvest. July Wheat futures declined 0.7% to $7.0875 a bushel earlier on the CBOT as the trading was 7% higher than the 100-day average.
Gold futures traded in New York decreased on Wednesday falling from the highest level in a week amid speculation that demand for the precious metal as a wealth protection may be reduced by improving economic growth. Bullion for delivery in June dropped 0.4% to $1,579.90 an ounce earlier on the New York's Comex after it reached its highest since April
U.S. property prices are increasing on a faster pace than incomes of buyers, when they were 15% higher relative to income in February, suggesting that the house prices may decline in U.S. cities as mortgages will advance and decrease affordability, a study by the Zilliow Inc. showed on Wednesday. House prices in the country gained 10.2% in February, the largest
West Texas Intermediate oil tumbled on Wednesday after increasing for two straight days, as the U.S. report showed that inventories in the country reached their highest figure since 1981. WTI for delivery in the next month slipped 52 cents to $93.68 a barrel on the NYMEX and was traded at $93.84 at 12:46 p.m. in London after it rose 84
U.S Treasuries continued to fall on Wednesday after the Federal Reserve meeting's minutes showed that several members want the central bank to reduce its assets-buying program later in 2013 and stop it by the end of the year. The benchmark 10-year yields increased three basis points to 1.78% at 9:21 a.m. in New York after it dropped to its lowest
Industrial output in Italy fell at the slower-than-expected pace in the month of February, when it dropped annually by 3.8% compared to a 4% slide originally projected, while the overall production slipped 7.6%, the statistical office Instat reported on Wednesday. The report also showed that industrial output declined 0.8% on a sequential basis in February, while it was forecast to
Manufacturing production in France advanced in February led by a strong expansion in refining and transport sectors helping the overall output recover at the faster rate than preliminary estimated, the statistical office Insee reported on Wednesday. The report said that industrial production rose 0.7% on a monthly basis in February after it dropped 0.8% the month before.
Bank lending in Japan increased in the first three months of 2013 mainly due to a gain of lending provided by regional banks, a data released by the Bank of Japan unveiled on Wednesday. The data said that loans and discounts rose by 1.5% in the Q1 after it expanded by 1.0% in the quarter before, while the average amount
Eurostat reported on Wednesday that hourly labour costs grew in most of the European Union countries in the last year. For the period from 2008 to 2012 wages and non-wage costs gained 8.7% in EUR28, with the largest increase of 15.5% in Austria. The only country that experienced a decline in salaries was Greece, which witnessed 11.2% fall.
Wall Street finished green on Tuesday, sending higher the Standard & Poor's Index for the first back-to-back rally in almost one month, as investors cheered the earnings season kicking off, and Chinese inflation slowed. The S&P 500 Index climbed 0.4% to 1,568.61. Seven out of ten groups in the benchmark gauge edged higher. First Solar jumped 46% for the biggest
Merchandise exports in Portugal declined on a monthly basis in February amid weaker demand in Europe and the rest of the world, the Statistics Portugal reported on Tuesday. The report said that shipments out of the country dropped by 4.4% in February reversing a 19.5% rise in January, while on an annual basis exports slipped 2.6% in February after they
The performance of French economy is set to expand by 0.1% in the first three months of 2013 as the forecast stayed unchanged from the previous estimate, according to a survey released by the Bank of France on Tuesday. The survey data showed that the country's business confidence fell from 95 points in February to 93 in March, while the
Bank lending to private sector in Italy declined for the seventh successive month in February despite a low level of interest rates in the country, a report revealed by the Bank of Italy showed on Tuesday. The report said that private sector lending dropped by 1.3% in February after it slipped 1.6% in the previous month, while household lending fell
Farm commodities were mixed on Tuesday ahead of the USDA monthly Wasde report due on Wednesday. Growing fears over unfavorable weather conditions in the U.S. were supportive for the commodity complex. However, profit taking as well as forecasts of strong harvest this year weighed on rural commodities. Wheat dropped as the market awaits confirmation of China's wheat purchases from the U.S.
Energy futures apart from natural gas advanced on Tuesday ahead of the closely-watched EIA supply report due on Wednesday. Meanwhile, optimism over global stimulus after the BoJ launched a massive easing program and China's inflation slowed more than expected boosted energy demand potential. Crude oil advanced after inflation data from China. However, gains were limited as market players were cautious
Precious metals except for palladium rebounded on Tuesday after bigger-than-expected drop in China's inflation rate sparked speculation that the country has a room to ease its monetary policy. Moreover, broadly softer US Dollar lent support to the commodity group. Gold traded near an one-week high amid hopes stimulus measures across the globe will continue. At the same time, a
Industrial metals soared on Tuesday on hopes that slower inflation in China will reduce pressure on the policymakers to tighten monetary policies further. At the same time, expectations of surplus on physical markets this year coupled with high LME inventories restricted an upward trend of base metals. Aluminum gained on hopes for monetary policy loosening in China. However, expectations of an
Building permits in Canada increased in the month of February as a decline in the residential sector was offset by higher construction intensions of non-residential sector, a data released by the Statistics Canada unveiled on Tuesday. The data said that building permits worth C$6.0 billion in February, when they advanced by 1.7% from the month before.
Wholesale inventories in the world's largest economy surprisingly declined in February, a report released by the Commerce Department showed on Tuesday, at the same time wholesale sales recorded a notable rebound. Wholesale inventories slipped 0.3% in February reversing an increase of 0.8% in the month before, while wholesale sales moved up 1.7% in February after it rose 0.8% in January.
Emerging-market shares advanced first time in a week on Tuesday mainly due to an increase of consumer and energy companies after a report showed lower-than-expected inflation in China easing the pressure for monetary policy tightening. The MSCI Emerging Markets Index gained 0.4% to 1,011.26 on Tuesday after it dropped to the lowest since November 30.
The Australian and New Zealand's currency advanced as loosen monetary policy in the U.S. and Japan weighted on their government bond yields boosting the South Pacific's assets relative value. The so-called Aussie increased 0.2% to $1.0429 and it was traded at 103.82 yen, while the New Zealand's Dollar gained 0.2% to NZ$1.2285 per Australian dollar following a climb to NZ$1.2274.
The British Pound appreciated to the highest level in six weeks against its U.S. counterpart on Tuesday after a report showed that industrial production in the U.K. advanced above the forecast in February suggesting that the country might avoid a triple-dip recession. The Sterling gained 0.4% to $1.5316 on Tuesday after it reached $1.5363 on April 5, the highest since
U.S. Treasuries increased on Tuesday amid speculation that buying at today's $32 billion auction of three-year notes will be boosted by the Bank of Japan's decision to double its assets purchases. The benchmark U.S. 10-year yields decreased by two basis points to 1.73% at 9:31 a.m. in New York after it dropped to the lowest since December 12 at 1.68%
Unemployment in Switzerland shrank in the month of March with the jobless rate falling to a non-seasonally adjusted 3.2% from the previous month's level of 3.4%, a report unveiled by the State Secretariat for Economic Affairs showed on Tuesday. Year-on-year, the unemployment rate stayed flat at 3.2%, while the total number of unemployed people decreased from 126,392 in March 2012