Australia's Dollar fell for a second successive day against the Yen before inflation data this week that might initiate further interest rate cuts, decreasing demand for the country's assets. The Aussie lost 0.6% to 94.15 yen and traded at $1.0511 after earlier fetching $1.0486 January, the lowest since January 8. The New Zealand Dollar lost 0.8% to 74.85 yen and
Japan's currency recovered from the lowest level in 2 ½ years as the Bank of Japan two-day policy meeting commenced. The Japanese yen has declined 5.9% versus the U.S. dollar in the previous month amid speculation the BOJ will add stimulus to prop up the nation's economy. The Yen gained 0.5% to 89.61 per greenback after earlier trading at 90.25,
Farm commodities apart from sugar finished the week in the green area amid escalated concerns over the US winter-wheat crops and coffee leaf rust in Central America. Strong US grains export data released on Thursday also supported grains. Wheat attained a three-week high on concerns over the US winter-wheat harvest. The US Climate Prediction Center expects dry weather to persist
Energy futures extended previous gains on upbeat Chinese figures. China's GDP expanded by annualized 7.9% in Q4 of 2012 versus expectations of a 7.8% growth. Moreover, the International Energy Agency raised its global demand forecast for 2013 by 240,000 barrels per day, citing robust China' demand. Crude oil edged up on bright demand outlook in China and a recent decline
Industrial metals were mixed on Friday amid dismal US data and positive China's numbers. China's GDP climbed by annualized 7.9% in Q4 of 2012 compared to forecasts of a 7.8% expansion. At the same time, US UoM consumer sentiment dropped to a seasonally adjusted 71.3 in December compared to estimates of an increase to 75.0. Aluminum dipped on an unexpected
Precious metals except for silver snapped a four-day winning streak on profit-taking after weak consumer sentiment data from the US. Meanwhile, market players are likely to remain focused on the BoJ meeting, the Eurozone finance ministers' meeting and the US debt ceiling talks due this week.Gold retreated as investors locked in gains after the previous rally. Weak US consumer sentiment
U.K. Stocks rose extending their gains as the FTSE 100 Index was at its highest since May 2008. The gauge advanced on expanding Chinese economy and better than expected data for the world's largest economy. The Chinese data offset U.K. retail sales figure that fell unexpectedly 0.1% in the last month. The FTSE 100 advanced 0.6%, or 38.73 points, to
U.S. equities rallied, with the Standard & Poor's 500 Index peaking at its five-year high on initial unemployment claims that beat the estimates and better than expected housing data. The S&P 500 climbed 0.6% to close at 1,480.94. All but one sector edged higher within the gauge. Cbs Corp.soared 1.7% to $40.95 as the company's owner revealed its plans to
The Standart & Poor's 500 Index increased by 0.6% to 1,480.94 points in the end of New York trading session on Thursday. The major stock index reached the highest level in the last five years on better than estimated initial jobless claims and data from housing sector. Investors traded with bullish sentiments, as housing starts increased by 12.3% in December
The Canadian Dollar, also called Lonnie, appreciated to 98.58 cents per U.S. Dollar in the end of Toronto trading session on Thursday. The market traded the Lonnie positively and pushed it higher from a two-week low, as data from the largest world economy increased its growth prospects. Canada is the biggest trading partner of the U.S., therefore increasing demand will
The Swiss Franc was lower by 0.7% to 1.2461 per Euro in the end of London trading session on Thursday. This level was the lowest since May, 2011, as the Mario Draghi, the ECB President, said that there are noticeably higher capital inflows in the EU region. The Swiss Franc depreciated by 2% this year, the second largest drop after
Asian shares gained for the first time in 3 days as reports in the U.S. and China overshot economists' expectations and the Japanese Yen traded close to the lowest level in 30 months. The MSCI Asia Pacific Index advanced 1.1% to 134.64. China's Shanghai Composite Index rose 1.1% and Hong Kong's Hang Seng Index added 0.9%.
Asian currencies set for a fourth weekly advance amid optimism that the world's economy is recovering. The Baht headed for the biggest weekly gain since 2011 and fetched 29.72 per U.S. Dollar yesterday, the highest level in 17 months. India's Rupee climbed to 54.20 per greenback, a one-month high, while Taiwan's Dollar rose 0.3% this week to NT$28.94 versus the
New Zealand consumer prices declined last quarter, which was against economists' expectations of a 0.1% rise, on cheaper imports and sluggish economy, paving the way for the nation's central bank to extend a period of low interest rates. Consumer prices fell 0.2% from the previous quarter, when they increased 0.3%, according to Statistics New Zealand.
German shares were slightly changed as they traded close to their two-week high as growth in the world's second largest economy increased its pace of growth the first since 2010. Growth in the nation revived. The DAX index advanced 0.1% to 7,738.48. The index has gained 1.6% this year. Commerzbank AG advanced the most by 2.17% as an index
Hong Kong shares advanced after Chinese economic reports showed the nation has snapped the declining economic growth which throughout the last seven quarters. The Hang Seng index closed up 1.1% at 23,601.8, showing its highest level since June 2011. Growth-sensitive groups, such as banks, were among the best performing benchmark indices. All sectors edged higher with oil and gas shares
Japanese stocks reversed their previous losses this week and edged higher after reports showed the economic data in China improved and U.S. economy showed some positive signs with improving housing and less jobless claims. In addition, the Yen traded close to is lowest level in 30 months. The Nikkei Stock Average rallied 2.9% and reached its highest level in more
U.S. blue chips advanced as U.S. housing starts rose 12.1% to 954,000 in December to 954,000 on annual basis and the number of unemployment claimants dropped by 37,000 to 330,000, the lowest level since January 2008, last week. The Dow Jones Industrial Average advanced 0.6% to 13,596.02. All but one sector gained in the index. Intel Corp. shares surged 2.6%,
Australia's and New Zealand's Dollars strengthened to the highest level against the Japanese Yen in more than 4 years as Japan's currency weakened on speculation policymakers will push the Yen down further to stimulate economic growth. The Australian Dollar advanced 1.4% to 94.79 yen yesterday and touched 95.02 yen, the highest since August 2008. The Kiwi rose 1.1% to 75.16
The Shanghai Composite Index was higher by 1.4% to 2,317.07 points on the Asian trading session on Friday, extending the weekly gains to 3.3%. That was the largest weekly increase this year, as the domestic data showed better-than-expected economic growth in the fourth quarter. The GDP increased by 7.9% in Q4 and retail sales surged by 15.2% in December.
Rural commodities except for coffee retreated on Thursday despite improved risk-appetite among investors after upbeat US data. Grains dropped even despite supportive USDA weekly report. At the same time, concerns over ample global supplies continued to weight on softs.Wheat halted its rally despite bullish reading of the USDA report on weekly export sales. US sold more than 570,000 tonnes of
Energy futures were bullish on Thursday on positive US housing and employment data. US jobless claims dropped more than expected last week while housing starts soared by 12.1% in December, beating forecasts of a 4.6% increase. Crude oil continued to gain inspiration from falling US inventories. The EIA reported on Wednesday that US stockpiles dropped by 0.9 million barrels compared
Industrial metals advanced on Thursday despite an unexpected contraction of manufacturing activity in Philadelphia region. Base metals complex found support on better-than-expected numbers from the US job and housing market. Meanwhile, market players continued to anticipate Chinese data releases due on Friday.Aluminum climbed, tracking gains of the US equities. However, the upswing was limited by bloated LME inventories. LME stocks
Precious metals jumped for the fourth session in a row amid broadly softer US Dollar and weak manufacturing data from the US. Philadelphia region's manufacturing activity unexpectedly contracted in January, boosting hopes for additional stimulus from the Fed. However, upbeat data from the US labour and housing market limited gains of the commodity group.Gold climbed, being supported by weaker US