Oil futures for March settlement were down by 12 cents to $96.65 a barrel on the New York Mercantile Exchange during Singapore trading session on Wednesday. The average volume was higher by 38% above the 100-day average and the price was traded close to the highest level since September, 2012. Oil was traded positively on speculation, that the U.S. will
The Australian Dollar, also called Aussie, slipped by 0.3% to $1.0535 in the end of Sydney trading session on Wednesday. The Aussie was traded pessimistically, erasing a two-day gain, as consumer prices increased less than expected and do not reached economists forecast. Consumer data brings pressure for the Reserves Bank of Australia to cut the key interest rate further.
Wheat futures for March settlement were lower by 0.8% to $7.7275 for one bushel on Chicago Board of Trade during Singapore trading session on Wednesday. Commodity traders were selling wheat, as rains might bring some relief to crops in the U.S., which are suffering from drought. Weather forecast, which say that some precipitation will be brought next week, pushed market
Spot price of gold was at $1.693.55 an ounce by midday in Singapore's trading session on Wednesday. Gold price was very close to a four-week peak at $1,696.28, as the U.S. lawmakers voting today on debt limit's suspension until 16th of May. The U.S. House of Republicans is scheduled to have a voting on temporary suspension of $16.4 trillion debt
The Nikkei 225 declined by 1.8% to 10,516.97 points by midday Tokyo trading session on Wednesday. The major Japanese index experienced its first three-day loss since elections have ended. Japanese stocks declined as the Yen depreciates after the Bank of Japan announcement that it will implement open-ended stimulus only from 2014.
Rural commodities except for corn posted sharp losses on Tuesday despite improved demand for risky assets and weaker greenback. Rain forecasts in the US as well as better weather conditions in Brazil put notable pressure on the commodity complex. Wheat declined on speculation that rains in the US may improve prospects of drought-stricken crops. Furthermore, profit-taking after a sharp increase
Energy futures jumped on Tuesday amid soft US Dollar and BoJ policy decision. BoJ announced an open-ended asset purchasing program and lifted its inflation target to 2% to stimulate economy in 2014. Upbeat German economic sentiment reading also was supportive for the commodity group. Meanwhile, market players remained cautious ahead of the EIA report due on Thursday. Crude oil climbed
Industrial metals apart from nickel surged, being boosted by stimulus measures from the BoJ and weaker greenback. However, dismal US data releases capped the upswing. Also weighing on the commodity group was increased caution ahead of US debt ceiling decision due on Wednesday. Aluminum advanced as risk appetite improved after the BoJ announced stimulus measures to boost faltering economy. At
Precious metals rallied on Tuesday after the BoJ announced an open-ended asset purchasing program and raised its inflation target by 2%. Sending the commodity group higher the US Dollar depreciated further on weak data from US real estate and manufacturing sectors. Gold advanced after the BoJ unveiled its stimulus measures. However, the gains were capped by an increase in gold's import
German shares paired their biggest losses in a week as Bafin, the nation's financial regulator, said he would ask Deutsche Bank AG to stimulate a split, offsetting positive data on investor confidence that improved this month. The DAX index retreated 0.8% to 7,690.64 points. All but two groups in the benchmark index declined. The gauge was also dragged down by
U.K. stocks started rebounding from their previous losses after a report showed the U.S. house sales improved and companies, such as Google Inc. and Johnson & Johnson, edged higher. FTSE 100 index stayed unchanged at 6,182.29 points by 15:20 GMT. Six out of ten groups inched higher with health care shares rallying the most. Among best performers were Kingfisher Plc
The Australian stock market stayed flat as investors sat on the sidelines after Bank of Japan announced its plans to increase the inflation target to 2%. In addition, the BOJ said it would launch an asset-buying program similar to the one released by Fed. The S&P/ASX200 index rallied 0.03%, or 1.6 points, to 4,779.1 points. Seven out of then sectors
Hong Kong shares advanced, sending the Hang Seng benchmark index to its 19-month high. Hong Kong stocks started advancing right after a report on January 18 showed that he nation's economy has revived. The Hang Seng index rallied 0.3% to 23,658.99. All but two groups in the gauge edged higher with consumer goods surging 1.10%, the most in the gauge.
German ZEW Economic Sentiment edged higher in January suggesting, according to experts, a brighter time for the German economy in the next six months and contributed to an optimism that the market outlook for 2013 will be bullish for the shared currency. The ZEW indicator of Economic Sentiment for Germany accelerated by 24.6 points to 31.5 points in January, its
The Japanese central bank adopted its biggest changes in order to boost the economy and to end a twenty-year period of stagnation, committing to a stimulus monetary policy, but disappointed investors as they will delay the program until 2014. The BoJ established a 2% inflation level to be achieved as soon as possible with a 13 trillion yen a month open-ended asses
Base metals were bearish on Monday despite hopes that the BoJ will announce additional easing measures at its meeting on Tuesday. Dampening the market sentiment, investors continued to monitor political developments across the US debt ceiling talks. At the same time, weaker US Dollar limited losses of industrial metals Aluminum dropped despite weaker US Dollar and hopes for further easing in
Farm commodities apart from sugar were bullish last week amid lingering concerns over the US winter-wheat crops and increased demand for US supplies. Weaker greenback also supported rural commodities. Wheat surged to almost one-month high on concerns than persistent drought in the US and Australia as well as winter-kill in Russia may significantly cut global supplies. Agriculture Ministry reported about 9%
Energy futures moved higher last week on upbeat China's data and a decline in the US inventories. On Monday, US markets were closed for the Martin Luther King Jr. holiday. Adding to the positive mood of the commodity group, the International Energy Agency revised upward its global demand forecast for this year by 240,000 barrels per day, citing strong demand
The Chinese currency Yuan depreciated to the lowest level in a week as China's aim to increase the money-market operations' frequency boosted demand for the greenback. The Yuan erased as much as 0.04% to 6.1975 per dollar. Meanwhile, the currency was trading at 6.2211 per dollar in Shanghai.
Chinese shares retreated after rallying to their eight-month high. The Shanghai Composite Index slid 0.7% to 2,312.23. The shares that slid the most were those of consumer staples group, whereas banks edged higher. Citic Bank advanced 3.1% to 4.68 yuan, while Singapore's Oversea-Chinese Banking Corp. soared 6.5% to 11.51 yuan.
Precious metals except for palladium advanced in quiet Monday's trading as US markets were closed for the Martin Luther King Jr. holiday. The commodity group prolonged its rally on expectations that the BoJ will ease its monetary policy further at its meeting on Tuesday. Gold rose on hopes for easing in Japan. However, the upswing was limited by potential fall in
Japanese shares dropped as the yen appreciated after BOJ doubled the target of inflation to 2% and aimed at launching open-ended asset buying, similar to the one in the U.S., the next year. The Nikkei 225 Stock Average dropped 0.4% to 10,702.48 after earlier rallying as much as 1% right after the BOJ's decision. Only three out of ten sectors
Oil was near the highest level in four months in New York after the Bank of Japan announced it will introduce further monetary stimulus. WTI for February settlement, expiring today, gained 14 cents to $95.70 a barrel, while the March contract rose 12 cents to $96.16. Brent for March delivery increased 39 cents, or 0.4%, to $112.10 a barrel.
Gold advanced to the highest level in one month as Japan's central bank set a 2% inflation goal and considered the Fed's style unlimited asset purchases in order to end deflation. Spot gold rose 0.3% to $1,694.25 an ounce and was at $1,693.90 as of 12:56 p.m. Singapore time, while gold for February settlement increased 0.4% to $1,693.10.