Precious metals rallied on Wednesday alongside with risk-assets after the US House of Representatives agreed on the budget for 2013, avoiding so-called fiscal cliff. The commodity group also found strong support on speculation that central banks across the globe will continue stimulus measures to boost their economies. Gold followed riskier assets, jumping on encouraging news from the US. Moreover, investors
Gold traded near the highest level in two weeks after predictions that lawmakers would continue to sustain their economies lead to a rise in demand for store of value. Spot gold reached $1,694.81 an ounce, the most since December 18. Bullion for February settlement remained almost unchanged at $1,686.80 an ounce, and there was seen a 12th year rise as
German equities rose, sending the DAX index to its five-year high, as the U.S. lawmakers agreed on a budget bill that halts the so-called "fiscal cliff". Yesterday, the U.S. House of Representatives passed the budget legislation. Experts say another compromise in February will lead to further rally in the stock market.The German DAX index edged 1.88% higher to 7,757.96, showing
U.K. blue chips rallied to the highest level in 17 months, exceeding the 6,000 reading for the first time since July 2011, as U.S. lawmakers passed a budget deal and prevented automatic tax increases and spending cuts. The U.S. Senate approved the budget proposals in early hours on January 1. The FTSE 100 index climbed 2.35% to 6,038.48 by 16:00
Australian equities advanced to their highest level in 19 months on January 1, as U.S. lawmakers made a budget deal to avert spending cuts and tax hikes. Gains in Australian shares were mostly led by top miners, as U.S. budget deal erased concerns on possible recession in the nation's economy. The S&P/ASX 200 index rose 1.23%, or 56.99 points, to
Indian shares jumped to their highest level in 20 months after the U.S. senate passed a budget bill trying to avert the so-called "fiscal cliff" coming into effect on January 1. Experts said the agreement would give more confidence to investors of emerging-market stocks. The Indian Sensitive index advanced 0.8% to 19,580.81. The gauge has rallied 26% in 2012, as
Hong Kong blue chips advanced sending up the Hang Seng index adding to its 23% gain in the last year, as U.S. lawmakers reached a budget deal and Chinese manufacturing sector improved for a third month. A report on January 1 showed the China Purchasing manager's Index was 50.6 the prior month. The index jumped 2% to 23,103.97, first time
German equities rose, sending the DAX index to its five-year high, as the U.S. lawmakers agreed on a budget bill that halts the so-called "fiscal cliff". Yesterday, the U.S. House of Representatives passed the budget legislation. Experts say another compromise in February will lead to further rally in the stock market. The German DAX index edged 1.88% higher to 7,757.96,
U.K. blue chips rallied to the highest level in 17 months, exceeding the 6,000 reading for the first time since July 2011, as U.S. lawmakers passed a budget deal and prevented automatic tax increases and spending cuts. The U.S. Senate approved the budget proposals in early hours on January 1. The FTSE 100 index climbed 2.35% to 6,038.48 by 16:00
The U.S. manufacturing expanded in December after shrinking to the lowest level in three years in the previous month. The ISM's manufacturing index rose to 50.7 from 49.5 in November, the weakest since July 2009. Reading above 50 indicates that the sector is expanding. "The worst part of the manufacturing slowdown is behind us," Bricklin Dwyer, Economist at BNP Paribas, said
Manufacturing activity of the Asia's third largest economy increased to its highest figure in a six-month period in December as factory output rose together with bigger volumes of ordered books, a survey of HSBC showed on Wednesday. The HSBC Purchasing manufacturing Index recorded its biggest monthly gain in the last month of 2012, when rose from 53.7 in November to 54.7 in December.
Harmonized inflation in the Eurozone's largest economy went up unexpectedly in the last month of 2012, the Federal Statistical Office reported on Wednesday. The report showed the harmonized index of consumer prices in Germany accelerated 2.1% annually in December following a 1.9% drop in the month before, while the consumer price index added also 2.1% in the last month after
Activity among factories in the Eurozone fell more than expected in the last month of 2012 as new orders declined, purchasing manager's surveys in the 17-nation bloc showed on Wednesday, pointing out a contrast to signs of recovery in China. Markit's Eurozone Manufacturing Purchasing Manager's Index dropped from 46.2 in November to December's 46.1. while in China the PMI stood at
Australian equities advanced to their highest level in 19 months on January 1, as U.S. lawmakers made a budget deal to avert spending cuts and tax hikes. Gains in Australian shares were mostly led by top miners, as U.S. budget deal erased concerns on possible recession in the nation's economy. The S&P/ASX 200 index rose 1.23%, or 56.99 points, to
The Aussie almost touched the bottom, falling versus majority of 16 major peers, as U.S. policymakers could not find agreement to avert "fiscal cliff", reducing demand for riskier assets. The Australian currency bought $1.0399, yet it is predicted that the Aussie might advance toward $1.07 by the middle of the year, before touching $1.01 by the end of 2012.
The Yen and greenback debased versus most peers after U.S. policymakers introduced legislation to prevent "fiscal cliff" of tax increases and automatic spending cuts, decreasing demand for refuge assets. The Yen fell to 87.27 per greenback, the weakest since July 2010, and it dropped to 115.82 per Euro, the lowest since July 2011, while the greenback stood at $1.3272 versus
Gold sored to the highest in two weeks, advancing with other commodities after the greenback debased, as U.S. policymakers launched legislation preventing increase of income-tax for majority of workers, easing anxiety that a recovery of the U.S. economy might be stopped. Spot gold climbed to $1,684.75 an ounce, the most since December 18, as well as silver, platinum and palladium
Oil climbed, setting for a three-month high, as the U.S. Congress passed a Senate-approved decision that would prevent tax increases and spending cuts that endangered further growth of the U.S.A. Crude for February settlement increased to $92.85 a barrel, up $1.03, while Brent oil for February delivery climbed 83 cents, or 0.8%, to $111.94 a barrel.
The Pound Sterling climbed to 16-month high versus the greenback after U.S. policymakers introduced legislation to prevent automatic spending cuts and tax increases, diminishing demand for the greenback. The Pound gained 0.4% to $1.6317, the most since August 2011, while dropped 0.2% to 81.34 pence versus the shared currency.
Malaysia's Ringgit gained the strongest point in 11 weeks as the U.S. House introduced a bill averting income-tax rise for at least 99% of U.S. households, increasing demand for riskier assets. The Ringgit rose 0.6% to 3.0372 per greenback in Kuala Lumpur, the highest since October. It is believed that the currency's strength was driven by buying of government bonds
Taiwan's Dollar soared to the highest in seven weeks as the U.S. Congress launched a budget bill which may prevent $600 billion in tax increases and spending cuts. The currency climbed 0.4% to NT$29.014 versus the greenback, after touching NT$29.005, the highest point since November. The Taiwan Dollar strengthened 4% in previous year as overseas investors increased their holdings of
British Manufacturing PMI climbed to its highest level since September 2011, adding to signs the economy has started growing at the end of 2012. The Markit Manufacturing PMI advanced more than expected in December to 51.4 from 49.2 the prior month. However, manufacturing composes only 10% of the UK's output. "UK manufacturing exited 2012 on a positive note, with
Indian shares jumped to their highest level in 20 months after the U.S. senate passed a budget bill trying to avert the so called "fiscal cliff" coming into effect on January 1. Experts said the agreement would give more confidence to investors of emerging-market stocks. The Indian Sensitive index advanced 0.8% to 19,580.81 The gauge has rallied 26% in 2012,
Hong Kong blue chips advanced sending up the Hang Seng index adding to its 23% gain in the last year, as U.S. lawmakers reached a budget deal and Chinese manufacturing sector improved for a third month. A report on January 1 showed China Purchasing manager's Index was 50.6 the prior month. The index jumped 2% to 23,103.97, first time in