Australian stocks started the week in a green territory, being boosted by easing measures in the US. Meanwhile, slightly weaker Australian Dollar eased pressure on the exporters. The S&P/ASX 200 Index advanced by 0.29% to close at 4402.50, the highest level since May. Only three business sectors included in the index climbed. Miners posted the strongest gains, with Aquarius Platinum,
The Dow Jones Industrial Average Index gained 0.40% to end the week at 13,593.37. The US blue chips remained well-supported by the launch of the QE3. However, US factory and industrial output slumped last month, thus pushing the US blue chips index lower. Six out of nine business sectors included in the index climbed. The top-performers were basic materials and
US stocks ended last week on the positive note, drawing strength from the long-awaited Fed stimulus measures. Meanwhile, larger-than-expected increase in the US retail sales last month created additional boost for the US equities. At the same time, the US industrial production dropped at the fastest pace in three years in August thus pressuring the US stock market. The S&P
Manufacturing activity in the State of New York fell more than expected in September, Federal Reserve Bank of New York announced on Monday. Region's general economic index fell to a seasonally adjusted -10.4, down from -5.8 in August. Analysts had predicted Empire State manufacturing activity to drop -2.0 last month.
Most Asian stocks apart from China and Japan advance on mining companies' gains amid belief U.S. stimulus will fuel global demand. Shanghai and Hong Kong shares depreciated on Monday. The MSCI Asia Pacific Excluding Japan Index surged 0.2% to 442.41, on the way for the strongest closing since May 2.
Home sellers in the U.K. cut asking prices for a third consecutive month in September, as prices in eight regions out of the 10 reported a decline in prices. Average asking prices in England and Wales fell 0.6% to £234,858, after erasing 2.4% in the prior month. Despite an overall fall in prices, house prices in London grew 0.3% in September and were up 6.6%
The Pound prolonged last week's risk-rally versus U.S. and Japan counterparts on Monday. U.K. currency reached 127.36 versus the Yen, the highest since May 17, posting a brake of ascending triangle levels of resistance of GBP/JPY pair. GBP/USD traded at 1.6246, with an expectation of next resistance level around 1.6258/1.63 range.
European stocks fell from a 15-month strongest level, lead by losses in banking and energy sectors. On Monday, the Stoxx Europe 600 Index retreated 0.2% to 275.31, after the highest close since June 2011 on Friday. The CAC 40 Index declined 0.6% to 3,561.67. Spain's IBEX 35 fell 0.8% to 8,091.40. The FTSE 100 Index slid 0.3% to 5,898.52. The
U.S. stock futures tumbled on Monday, cutting a part of last week's advance, as traders turned their interest towards Asia. Dow Jones futures dropped 23 points to 13,495. Futures on S&P 500 deteriorated 3.5 points to 1,455.5, while those on Nasdaq 100 slipped 4.5 points to 2,845.75. The DXY Dollar index gained 0.1% to 78.935.
The Euro weakened on Monday on unrest in Spain as Mariano Rajoy thinks whether to request the economic help or not. The Euro depreciated against its major counterparts, easing 0.1% and reaching EUR102.81 versus the Yen; and sliding down versus the greenback to USD1.3102, which was a 0.2% decline. On September 14, the 17-nation currency hit a 4-month high against the U.S. Dollar and Yen.
On Monday, 30-year treasuries snapped a 4-day decrease as Fed's efforts to stimulate the economy will take some time to work. 30-year yields eased 1 basis point and were equal to 3.08% at 9:27 a.m. In London. Yields on benchmark 10-year notes were down 2 basis points and reached 1.87% on expectation of contraction of New York manufacturing.
On Monday, futures for crude oil trimmed the last week's gains during Asian trading hours, as traders were selling crude contracts for profits. On the NYMEX, November delivery futures for light sweet crude were traded at USD99.28 per barrel, which was a 0.06% for the trading session. Earlier, the contracts hit USD99.15 and, which was a session low, a session high of USD99.52 per barrel.
On Monday, prices for gold were steady during European morning trading hours, as traders locked in profits following a Fed rally, when contracts for gold hit a 6-month high. On the NYMEX, October delivery futures for gold were traded at USD1,769.35 per troy once, which was a 0.05% gain for the trading session. Earlier, gold futures hit USD1,768.35 per troy once, a session low.
Istat, reported on Monday that Italian trade balance in July, 2012 was EUR4.49 billion on a seasonally adjusted basis, up from the June's trade balance of EUR2.52 billion. Analysts, however, expected a slight decrease to EUR1.97 billion. Italian exports gained 4.3%, whereas its imports decreased by 4.3% in July.
Eurostat reported on Monday that the trade balance, which is the difference between exported and imported goods and services, for Eurozone in July 2012 was EUR15.6 billion on a seasonally adjusted basis, up from a June's figure of EUR13.6 billion. Imports in July fell by 1.2%, whereas exports decreased by 2.0% from the preceding month.
European Central Bank reported on Monday that Eurozone current account fell to a seasonally adjusted figure of EUR9.7 billion in July. There was a surplus for goods (EUR7.5 billion), services (EUR6.2 billion), and income (EUR 1.7 billion), whereas there was a deficit in current transfers (EUR5.8 billion). Analysts expected that the current account would fall to EUR10.9 billion.
Rural commodities rose for the second consecutive day on Friday as QE3 in the US fuelled demand hopes for the commodity group. Broadly weaker US Dollar also created strong support for the farm commodities. Wheat reached one-month high after ANZ Bank cut its forecast for Australian wheat crops to 20 million tons, below the USDA estimate by 6 million tons. Corn
Energy commodities apart from natural gas gained, remaining well-supported by Fed decision to implement stimulus measures in the US. Moreover, escalated tensions in the Middle East created strong upward pressure on the commodity group. Crude oil moved higher on easing measures in the US and supply concerns from the Middle East. Persistent tensions over Iran's nuclear program continued to lend support
Industrial metals rallied after the Fed announced QE3 on Thursday. The base metals' pack also found support on weaker greenback and hopes that China may ease its prudent monetary policy. At the same time, disappointing US industrial production data capped the upswing of the commodity group. Aluminum jumped on hopes for better demand from the US and slightly lower inventory levels
The Reserve Bank of Australia reported the nation's currency is held by 23 central banks across the globe. The central banks of Russia, Germany, Brazil, Hong Kong, South Korea, Sweden, Switzerland and Poland are among 15, which hold the Australia Dollar. Among 8 possible holders are Indonesia, Malaysia, Iceland, Jordan and Singapore.
Precious metals ended the week on the positive note, drawing strength from long-awaited QE3 announcement made on Thursday. Adding to the positive mood of the commodity group, the greenback continued to depreciate on dismal industrial production data from the US. Gold approached almost seven-month high, being strongly supported by stimulus program in the US and weak US Dollar. Silver was flat after
Asian ex-Japanese stocks fluctuated on speculation that the Fed's stimulus announced on September 13 may increase inflation concerns for Asian countries. The MSCI Asia Pacific ex-Japan Index rose 0.2% to 442.71, setting for the highest close since May 2. Australia's S&P/ASX 200 Index gained 0.3%, while the Kospi index slid 0.3%. The Shanghai Composite Index fell 1.5%, whereas Hong Kong's
The Japanese Yen strengthened versus most of the major counterparts before the BOJ's 2-day meeting as investors weigh whether the central bank will expand its monetary easing. Japan's currency advanced 0.2% to 102.75 per Euro after a sharp fall of 3.1% in the past 4 days. It rose 0.2% to 78.25 per U.S. Dollar after fetching 77.13 on September 13,
The Australian Dollar fell from near six-months high on concern European officials struggle to find agreement to solve the debt crisis, thus curtailing demand for riskier assets. The Aussie Dollar declined against most of 16 major peers before Spanish Prime Minister Mariano Rajoy meets Italian Prime Minister Mario Monti in Rome. The Aussie Lost 0.2% to $1.0533 from $1.0551 on