Soybeans remain gain in Chicago on growing demand for U.S. exports after two-week price decline and amid drought in Brazil and excessive humidity in Argentine. U.S. exports raised 6.8% to 64.1 million bushels last week in comparison to previous period. The contract for January delivery soybeans increased 0.8% and was settled at $14.19 a bushel. On Tuesday prices for soybeans
Gold is expected to rally to above $2000 an ounce in 2013, as central banks add stimulus to prop up the recovery, according to Deutsche Bank AG. Bullion is set for a 12th annual advance amid concern that stimulus by central banks and governments around the world to shore up the recovery and combat fallout from eurozone's debt crisis will
Oil futures for December settlement were 16 cents up to $85.54 a barrel in Asia trading session on Wednesday. Oil price almost reached the lowest point in one week, due to market expectations that U.S. stockpiles will be increased by 377.3 million barrel in last week. That would be the highest stock level since July.
The Central Bank of Chile kept the key interest rate unchanged at 5% level for a 10th consecutive month. According to the central bank announcement, domestic market holds a stable growth pace, actual monthly economic growth exceeded a forecast six times in 2012, and stays resilient to the global slowdown. Great Chile's economic performance is the third in South America, after Brazil and Colombia.
Australian consumer sentiment reached its highest level since April 2011, as central bank's monetary measures since last year's November are starting to boost up the household confidence. The Consumer Sentiment index rallied 5.2% to 104.3 for November on a monthly basis, showing the number of optimists is exceeding the number of pessimists. "We are finally starting to see that the
Sweden's jobless rate rose in October from the last year and beat economists' expectations, data from the Public Employment Service showed Wednesday. The unemployment rate climbed to 4.6% from 4.5% in October a year earlier, while economists projected the jobless rate to be at 4.7%. The number of unemployed people rose to 215,832 in October from 203,722 last year.
According to data from Statistics Finland, Finland's retail sales rose annualized 3.4% in September. Nevertheless, sales volume fell 0.6% over the same period. Consumer goods sales increased 3.6%, while department store trade rose 3.9%. Wholesale trade sales declined 1.6% and motor vehicle trade sales decreased 21.7%.
Finland's annualized inflation cooled from 2.7% in September to 2.6% in October, according to Statistics Finland. The figure was in line with economists' expectations. Consumer prices rose most from the previous year due to increasing transport, food, alcoholic beverages and tobacco prices. Consumer prices grew 0.1% from the last month compared to a 0.2% increase expected by economists.
US blue chips index dropped on Tuesday amid persistent worries over the US fiscal cliff and Greek bailout uncertainty. Adding to the negative mood of the US equities, the US federal balance dropped more-than-expected last month. Meanwhile, traders were cautious ahead of the FOMC statement due on Wednesday. The Dow Jones Industrial Average Index plunged 0.46% to close at 12,756.18.
Wall Street closed lower on Tuesday amid mounting worries over fiscal cliff in the US. Moreover, Greek financial woes weighted down on the risk appetite. The IMF disagreed on Greek budget terms, while the eurozone's finance ministers postponed a bailout decision to November 20. The S&P 500 Index shed 0.4% to end the session at 1,374.53. Only three sectors rose.
The Australian Dollar reached the highest level in two months versus the kiwi as retail sales in New Zealand dropped unexpectedly. The Aussie traded up to NZ$1.2799, after trading at NZ$ 1.2788 earlier. The currency also touched the strongest weekly level against the greenback on improving consumer confidence in Australia. It advanced to $ 1.0455, trading 1% higher than before at $ 1.0448. Meanwhile, the currency
The Yen declines against its 16 counterparts as BOJ is expected to take action to curb the yen's strengthening, as it jeopardizes Japanese exports. The Yen fell against the euro, after five days of gains on news the government will lower its economic assessment this month. The Japanese currency dropped 0.4% to 101.23 euro. Meanwhile, the Yen lost 0.3% versus the greenback to 75.59.
Farm commodities except for corn dropped on Tuesday as demand for US exports remained weak. Moreover, uncertainty over Greece as well as upcoming US budget clashes weighted on demand perspectives. At the same time, expected rains in Brazil and poor condition of the US grains lent some support for the commodity group.Wheat sagged 0.77% despite worries over the US winter
Energy futures, excluding natural gas, declined on Tuesday amid stronger US Dollar and global demand concerns. Market players remained worried about the US fiscal cliff and uncertainty over whether Greece will receive the next tranche of the bailout timely.Crude oil moved lower, hovering near four-month low on fears that global energy demand may weaken in wake of spreading crisis in
Industrial metals except for nickel advanced on Tuesday despite lingering concerns over the eurozone. Market players were jittery after the eurozone's finance ministers postponed Greek bailout decision to November 20. Moreover, looming US fiscal cliff and lack of easing measures in China created pressure on the commodity group.Aluminum was the top-performer, drawing strength from hopes that more tenders will follow
Precious metals apart from gold moved higher on Tuesday despite broadly stronger greenback and mounting concerns over the US budget clashes. Meanwhile, investors were also cautious after the IMF disagreed on Greek bailout terms, putting the approval of the new bailout installment under question. Gold edged lower as stronger US Dollar and the eurozone's woes continued to pressurize the yellow
Asian equities advanced after industrial and raw material companies rebounded. The MSCI Asia Pacific Index surged 0.3% to 120.31. Chinese Hang Seng Enterprises index of stocks listed in Hong Kong stemmed a four-day drop, as today decision on China's next leader will be made. Meanwhile, Japanese Nikkei 225 Stock Average rose 0.1% with the Nikkei volatility index tumbling the most since February 2011 with 1.5%. Sharp
Australia's commercial finance advanced in September according to data released by the Australian Bureau of Statistics. Total commercial finance grew seasonally-adjusted 6.9% to AUD29.6 billion, rebounding from its 4.7% decline in August. The gain signals that the monetary stimulus throughout the year has helped to foster demand for credit. Earlier in November the BOA decided on retaining the cash rate at 3.25%, which was followed by
Price for soybeans declined to five-month low in Chicago on Tuesday, as the U.S. announced higher estimates for the world shortage of soybeans amid U.S. yields are higher than forecast in October. Ahead of next year's harvest stocks will be 2.5 million metric tons (4.3%) more than economists estimated last month. The contract for January delivery soybeans lost 1.8% and
Spanish bonds dropped, triggering an increase in the 10-year yield, as IMF and eurozone finance ministers did not come up with a strategy on how Greece can pay back its debt. The yield advanced 6 basis points, or 0.06 percentage point, to 5.95%. The 5.85% security maturing in January 2022 lost 0.435 per 1,000-euro to 99.265.
Analysts forecast lack of platinum amid unsafe situation in South America. Platinum output will decline 400,000 ounces to the twelve-year low, following last years' increase by 430,000 ounces, the most in ten years. On Monday price for platinum was settled at $1,568.25 an ounce, 12% higher than in the beginning of this year, and it is forecast to fluctuate between
German equities dropped after investor confidence tumbled and the euro group meeting did not lead to an agreement between finance ministers and IMF on how to solve the Greek debt turmoil. The DAX Index eased 0.9% to 7,103.17, yet still showing a 19% growth from this year's low, after the ECB launched unlimited bond-buying program. German biggest utility EON AG slumped 0.9% after it lowered its
German shares sank on Tuesday as investors turned to safe-haven assets after the IMF disagreed on Greek bailout terms. Worries over fiscal cliff in the US and fading hopes for easing in China also added pressure on German blue chips. The DAX Index plunged 0.78% and is currently trading at 7,113.11. Four in nine sectors moved higher. Technology and consumer
UK stocks sagged on Tuesday after the IMF disagreed on bailout terms for Greece. Meanwhile, eurozone's finance ministers postponed the decision regarding the next part of Greek bailout to November 20. Risk-aversion also jumped in wake of mounting concerns over looming US fiscal battles. The FTSE 100 Index edged down 0.51% to trade at 5,737.75. Five out of ten sectors