Rural commodities, excluding coffee, dropped on Wednesday amid signs of weak demand for US supplies. Meanwhile, upward revisions of Brazilian crop estimates created heavy pressure on softs. Strong greenback coupled with improved weather conditions in the US also weighed on the commodity group.Wheat declined on speculation that snow and rains in the US Great Plains and Midwest will improve prospects
Energy futures apart from natural gas moved higher on Wednesday as risk appetite improved amid mounting hopes that US officials will agree on the next year's budget. Speculation that Japan will witness stimulus measures as well as positive Eurozone's numbers also pushed the energy prices higher.Crude oil jumped on hopes of US budget resolution. A drop in the US stockpiles
Most Asian shares fell, with the MSCI Asia Pacific Index dropping from the highest level since August 2011, on concern U.S. lawmakers are deadlocked on a deal to prevent the ‘fiscal cliff' and as the Yen weighed on Japan's stocks. Nikkei 225 Stock Average lost 1.2% and the broader Topix Index declined 0.1%. South Korea's Kospi Index gained 0.3% and
Industrial metals tanked on Wednesday as traders continued to monitor elevated stocks at LME warehouses. At the same time, hopes for easing in Japan as well as expectations that US lawmakers will reach a budget deal limited losses of the base metals. Aluminum noted a decline, following softness in copper prices. Bloated LME inventories also added pressure on the light
The Australian Dollar held a 3-day loss, while the country's bonds rose, on concern U.S. ‘fiscal cliff' deal is deadlocked, curbing demand for risky assets. Australia's currency traded at $1.0477 at 4:25 p.m. Sydney time after declining 0.8% in the previous 3 days. The Aussie lost 0.5% to 88.03 yen. The New Zealand Dollar fetched 83.31 U.S. cents, the weakest
Japan's currency rose versus all of the major counterparts as the nation's central bank kept its 1% inflation target after incoming Prime Minister Shinzo Abe urged to double the goal. The Japanese Yen gained 0.6% to 111.02 per Euro at 6:33 London time from the close a day earlier, when it fetched 112.50, the lowest since August 2011. The Yen
Precious metals except for palladium tumbled on Wednesday as hopes that US will manage to avert fiscal cliff continued to weight on the safe-haven assets. Solid US Dollar also added pressure on the commodity group. However, expectations that the BoJ will ease its monetary policy at its meeting due on Thursday restricted the downswing of the precious metals.Gold reached flesh
German Ifo business sentiments index increased to 102.4 points in December, according to Ifo Institute survey. The business confidence improved in Germany more than expected, comparing with a forecast, which range is 101.4 to 102 points. The Purchasing Managers' survey indicated that Germany's private sector expanded in December after eight consecutive months of contraction."Recent survey evidence suggests sentiment is bottoming
The British Pound gains by 0.2% to $1.6287 in London trading session on Wednesday. The Pound increased for a fourth consecutive trading session and is in the highest level since 21st of September. Market is driven by speculation that the Bank of England will announce that economic recovery is sufficient not to make additional quantitative easing and will keep 375
Wheat futures for March settlement were higher by 0.7% to $8.16 a bushel on the Chicago Board of Trade on Wednesday. The price of wheat advanced by 25% this year and is the best performer of S&P GSCI Commodity Index from 24 raw materials, but, however, it has dropped by 14% since July, the highest point in four years. Wheat
The MSCI Emerging Market Index increased by 0.4% to 1,050.28 points in Hong Kong trading session on Wednesday. That was the highest close point since April, 2012. Emerging markets advance on the World Bank positive growth perspective for East Asia - the region will probably grow by 7.5%. Also, investors traded positive on speculations that India will cut the key
The Ceska Narodni Banka will hold the key interest rate unchanged at 0.05%, for the third quarter a point lower than the Euro area level, according to a Bloomberg survey. The actual number will be announced on Wednesday 1 p.m. in Prague. Bankers of the Czech central bank set a debate whether to begin a selling the Koruna, Czech's currency,
The India's Rupee advance by 0.1% to 54.79 per Dollar in early Mumbai trading session on Wednesday. The Rupee rebounds from a month low, as the market was driven by speculation that the government will prepare policy adjustments to spur a domestic growth and attract more foreign investments to the third largest economy in Asia.
The Euro Stoxx 50 Index futures, a benchmark for the Euro area markets, were higher by 0.2% to 2,653 points in very beginning of European trading session. Markets showed positive sentiments, as Standard & Poor's improved Greece's credit rating to B- and changed an outlook to stable. Also, markets awaited economic German and American reports. Moreover, the U.S. lawmakers showed
S&P/ASX 200 Index increased by 0.46% to 4617.80 points in Sydney trading session on Wednesday. Today's positive performance extends the previous session's gains, what brings the index to a 16-month high or a level last time seen in July, 2011. The index set on a positive track, as seven days out of nine showed gains. All sectors were green, including
Mexican minimum wage commission, including governors, business and labor unions representatives, agreed to raise a minimum wage by 3.9% in the beginning of 2013. However, this increase brings the wage just under $5.1 or 65 Pesos a day in the best paid areas, which includes major cities and the capital. The minimum wage was well below the market wage for
The Hang Seng Index was higher by 0.4% to 22,589.50 points and the Hang Seng China Enterprises Index increased by 0.6% to 11,371.02 points on Wednesday trading session in Hong Kong. Equities posted modest gains following a positive performance from the U.S. markets and optimism over the fiscal cliff talks. Most attention attracted HSBC Plc shares and Esprit Holdings Ltd,
Rural commodities except for wheat moved lower on Tuesday amid weak demand for US supplies. Grain and oilseed markets were dragged down by a cancellation of 420,000 tonnes of soybean orders from the US. Meanwhile, rising coffee and sugar production in Brazil continued to weight on softs. Weaker US Dollar and signs of better demand for wheat were the only
Energy futures rallied on Tuesday amid broadly weaker US Dollar. Moreover, hopes that the US lawmakers will agree on the next year budget and will manage to avoid deep recession next year boosted demand for riskier assets. Crude oil jumped on brighter demand outlook as the US is expected to avert so-called fiscal cliff while Japan is likely to ease
Base metals apart from nickel dipped on Tuesday as traders were cautious ahead of the key US data releases due later in the week. Bloated LME inventories as well as uncertainty over the Eurozone's demand pushed the industrial metals lower. However, hopes for progress in the US budget talks capped losses.Aluminum dipped on record LME inventories. Aluminum stocks advanced by
Precious metals were bearish on Tuesday as mounting hopes that the US lawmakers will manage to avert fiscal cliff spurred demand for riskier assets thus weighting on precious metals. At the same time, expected easing in Japan coupled with softer greenback were supportive for the commodity group.Gold dropped as investors shunned safe-haven assets amid expectations that the US will avoid
Asia's second largest economy recorded a 953.4 billion yen merchandise trade deficit in November, when it declined by 37.9% from a year ago amid weaker exports to China, the Ministry of Finance reported on Wednesday. Year-on-year, Japan's exports decreased 4.1% to 4.983 trillion Yen beating a forecast of 5.5% contraction following a previous month's 6.5% shortfall.
The 17-bloc nation's currency gained against the U.S. Dollar and Japan's Yen together with modest advance of European shares as the Bank of Japan is expected to boost the economy using unlimited monetary stimulus and as fiscal cliff talks are closer to reaching a deal. London's FTSE, Frankfurt's DAX and France's CAC indexes rose in a range of 0.2% to
Global economy's weak performance did not stop the World Bank from increasing its growth outlook of advanced economies in the East Asia and Pacific as improving domestic demand is helping the countries contribute on global growth this year with nearly 40%. The region is projected to expand 7.9% in 2013 following a 7.5% acceleration recorded this year.