The Australian Dollar strengthened to the highest in 2 months amid prospects the Fed's further monetary policy easing will debase the U.S. Dollar. Australia's currency fetched $1.0541, the strongest level since September 17, before trading at $1.0524 at 2:56 p.m. Sydney time. The Aussie gained 0.2% to 87 yen after touching 87.04, the highest since March 28.
Precious metals apart from platinum halted their rally on Tuesday as a recent price increase prompted investors to lock in profits. At the same time, broadly weaker US Dollar coupled with speculation that the Fed will continue its easing measures lent some support to the commodity group. Meanwhile, traders awaited the FOMC statement due on Wednesday.Gold retreated, being pressurized by
Industrial metals except for nickel tumbled on Tuesday ahead of FOMC statement due on Wednesday. Upbeat economic sentiment data from the Eurozone and softer greenback limited losses of the commodity group. However, positive signals failed to lift the commodity group as traders rushed to book profits after a previous price jump.Aluminum tanked despite a slight decline in LME inventories. Stocks
Energy futures, excluding natural gas, rebounded on Tuesday ahead of closely-watched Fed meeting due to end on Wednesday. Market players expect the Fed to leave its loose policy unchanged. Meanwhile, traders remained cautious as OPEC is due to discuss global output quotas later in the week.Crude oil traded higher on upbeat German confidence index reading and weaker US Dollar. Meanwhile,
Rural commodities were mixed on Tuesday with softs moving higher and grains declining. Softer greenback was supportive for the commodity group. At the same time, USDA World Supply and Demand report sent grains lower. Meanwhile, the International Coffee Organization comments boosted coffee prices.Wheat was the top-loser after the USDA raised global production estimate to the high end of market consensus,
Japanese shares dropped led by shrinking Utilities sector as an earthquake may be distract functioning of a nuclear reactor, therefore power suppliers are pulling back the stock market today. Experts say prospects for restarting the nuclear reactors are deteriorating, thus increasing the cost of electricity. That in turn could negatively affect raw-material companies. The Nikkei 225 Stock Average (NKY) dropped
German shares jumped to their highest level in 19 months after ZEW Center for European Economic Research in Manheim released data that showed investor confidence rose to 6.9, better than the expected gain to minus 11.5, in December compared to last month's minus 15.7. The DAX index surged 0.75%, or 57.38 points, to 7,587.75 at 16:11 GMT reaching its highest
Most U.K. shares advanced as the Federal Reserve is going to expand its asset purchases to ensure economic stimulus, and economic data indicated German ZEW advanced in December. The FTSE 100 index gained 0.2%, or 12.50 points, to 5,933.45 by 15:44 GMT. The gauge has advanced 13% from its lowest level this year in June when the ECB and Federal
Chinese shares edged lower compared to the previous session with weaker mainland markets capping the Hong Kong's gains on investors being cautious prior to last meeting of the U.S. Federal Reserve this year. It is awaited that the Fed will decide on buying $45 billion per month of longer-dated Treasuries to replace the Operation Twist program] at the beginning of
Japanese shares dropped led by shrinking Utilities sector as an earthquake may be distract functioning of a nuclear reactor, therefore power suppliers are pulling back the stock market today. Experts say prospects for restarting the nuclear reactors are deteriorating, thus increasing the cost of electricity. That in turn could negatively affect raw-material companies. The Nikkei 225 Stock Average (NKY) dropped
U.S. blue chips inched higher on accelerating pace of budget talks to halt the so called fiscal cliff and optimistic outlook for the Chinese economy as the economic data beat the analysts' estimates. However, representatives of both parties cautioned that an agreement on all outstanding issues I far from achieved. The Dow Jones Industrial average advanced 0.1%, or 14.75 points,
U.S. shares gained on better-than-expected Chinese economic data and the recent development in U.S. budget talks. Yesterday Barack Obama met the House Speaker John Boehner face-to-face at the White House. Representatives of the two leaders revealed no details on their proposal, yet stating that both, Obama and Speaker, leave room for a split-the-difference agreement.The S&P advanced less than 0.1% to
German shares jumped to their highest level in 19 months after ZEW Center for European Economic Research in Manheim released data that showed investor confidence rose to 6.9, better than the expected gain to minus 11.5, in December compared to last month's minus 15.7.The DAX index surged 0.75%, or 57.38 points, to 7,587.75 at 16:11 GMT reaching its highest level
Most U.K. shares advanced as the Federal Reserve is going to expand its asset purchases to ensure economic stimulus, and economic data indicated German ZEW advanced in December. The FTSE 100 index gained 0.2%, or 12.50 points, to 5,933.45 by 15:44 GMT. The gauge has advanced 13% from its lowest level this year in June when the ECB and Federal
Chinese shares edged lower compared to the previous session with weaker mainland markets capping the Hong Kong's gains on investors being cautious prior to last meeting of the U.S. Federal Reserve this year. It is awaited that the Fed will decide on buying $45 billion per month of longer-dated Treasuries to replace the Operation Twist program] at the beginning of
Growth of the German gross domestic product will slow down next year amid weaker export and business investments, the RWI institute reported on Tuesday. GDP of the country is forecast to accelerate 0.3% next year, less than a 1% rise projected earlier by the German think tank. Moreover, economic output is set to grow 0.7% this year compared to a
German ZEW Economic Sentiment rose 22.6 points to the highest level in seven months in December 2012, overshooting economists' projections. The Index of investor and analyst expectations increased from minus 15.7 in November to 6.9, while economists estimated a gain to minus 11.5."The financial market experts forecast the development of the economic activity in 2013 with pre-Christmas optimism. Although the
U.S. blue chips inched higher on accelerating pace of budget talks to halt the so called fiscal cliff and optimistic outlook for the Chinese economy as the economic data beat the analysts' estimates. However, representatives of both parties cautioned that an agreement on all outstanding issues is far from achieved.The Dow Jones Industrial average advanced 0.1%, or 14.75 points, to
Oil traded around the one-month low after declining for 5 days, posting the longest period of loss since October, amid concerns that a government report will show supply increase in the U.S., the largest crude consumer. Gasoline inventories are expected to reach eight-month high, while distillate supplies may increase for a second week. The contract for January-delivery crude was settled
U.S. shares gained on better-than-expected Chinese economic data and the recent development in U.S. budget talks. Yesterday Barack Obama met the House Speaker John Boehner face-to-face at the White House. Representatives of the two leaders revealed no details on their proposal, yet stating that both, Obama and Speaker, leave room for a split-the-difference agreement.The S&P advanced less than 0.1% to
The New Zealand Dollar reached the highest since November 5 versus its Australian peer on data showed house prices in New Zealand rose 7.3% in November from 2011, posting the biggest annual gain in four years. Aussie dropped 0.1% versus the New Zealand currency and traded at NZ$1.2535, a five-week low. Kiwi advanced 0.1% versus the U.S. Dollar to 83.54
After gaining for three days and reaching the highest in a week yesterday, gold fell in London ahead of the Federal Reserve's last meeting in 2012 to expand monetary stimulus. Immediate delivery gold declined 0.2% to $1,709.56 an ounce, while the contract for February-delivery fell 0.2% and was settled at $1,710.70. Immediate deliver silver was 0.5% lower at $33.0963 an
Denmark's government announced that a debt reduction will be a top priority, despite a forecast that the domestic economy will contract by 0.5% in next year. Denmark debt to GDP ratio is 46.6% and is slightly less than half the Euro zone average, but governors believe that debt mountain's reduction will bring more benefits than pushing it up. However, Denmark's
The U.S. treasury rates for a 10-year note holds yesterday's gains and approaches a one month high, as investors traded on speculations that the Federal Reserves Bank will expand its monetary easing program - purchases $45 billion of U.S. government debt every month. The FED's two day meeting starts today and will update a guidance for the further U.S. monetary