German Gfk consumer sentiment indicator remained unchanged for September at 5.9, from 5.9 in the previous month. In the meanwhile, analysts predicted German leading indicator of consumer spending, which represents overall economic activity, to fall by 0.1 to 5.8.
After Italy has raised 3.75 billion euros on Tuesday at a sale of sovereign debt, nation's borrowing rates fell sharply from previous levels. The rate on return earned by buyers of Italian government bonds due to mature in 2014 dipped to 3.064 per cent from 4.86 per cent at the last similar auction on July 26.
According to the Hong Kong Census and Statistics Department's report, made on Tuesday, Hong Kong's trade balance in July showed a deficit of 40.1 billion Hong Kong dollars, after a deficit of 44.71 billion in the preceding month. In the meanwhile, analysts had predicted Hong Kong's trade balance to decline to -48.6B in July.
Spain's debt costs fell to the lowest in three months after today's auction, amid hopes that the ECB will soon start to act in order to curb Eurozone's debt crisis. The Treasury sold 3.6 billion euros of bills today, as the demand for bonds was strong. The yield for three-month bills dropped to 0.946 per cent from 2.434 per cent at the last sale on
Home prices in biggest U.S. metropolitan areas posted a year-on-year growth rate in June, Standard & Poor's reported on Tuesday. The 20-city Composite Home Price Index advanced 0.5% on year in June, while analysts estimated the index to fall by about 0.3%. The index rose seasonally-adjusted 0.9% on month, after a 1.0% increase in May.
U.S. consumer confidence posted a significant decline in August, the Conference Board said on Tuesday, with the consumer sentiment index tumbling to the weakest level since the end of 2011. The index slid to 60.6, compared to 65.4 in July, while economists forecast a less steep decline.
Treasury 10-year rate slipped to a two-week low after the outlook for weaker global economic growth and controlled U.S. inflation fuelled demand for U.S. government notes. The 10-year yield fell 0.02 percentage point to 1.63%, the least since Aug. 13. The 1.625% note maturing in August 2022 rose 5/32 to 99 29/32.
Swiss stocks tumbled, after SMI's two-day rally, after Japan reduced its economic assessment for the first time in 10 months. On Tuesday, the Swiss Market Index declined 0.7% to 6,443.70. The measure has still surged from the year's weakest level on June 4. The Swiss Performance Index slipped 0.7%.
Canada's currency rose for the third day against the U.S. Dollar after crude oil, the nation's major export, rallied. On Tuesday, the Loonie advanced 0.3% to 98.76 cents per U.S. Dollar, after reaching 98.43, the highest since May 3. One Loonie buys $1.0126. Economists forecast a report this week to show Canada's GDP rising for a fourth consecutive quarter.
Spain's recession deepend in the second quarter with the nation's GDP falling by 0.4% from the previous three-month period, when it declined 0.3%, the Madrid-based National Statistics Institute reported today. Meanwhile, Spain's borrowing costs slid to a three-month low at an auction on Tuesday.
German equities tumbled on Tuesday on lack of action from the ECB and fading hopes for QE3 in the US. Dismal headlines from Japan also weighted down on the German shares. However, successful short-debt auctions in Italy and Spain restricted losses of the German blue chips index. The DAX Index dropped by 0.64% to trade at 6,977.85. All industries within
UK stocks slid on Tuesday as hopes for easing in the US started to fade due to upbeat US data releases over the last weeks. Adding to the negative mood of the UK equities, Japan downgraded its economic outlook on Tuesday. The FTSE 100 Index lost 0.25% to trade at 5,758.42. Only three in ten sectors included in the index
Hong Kong stocks inched up on Tuesday amid speculation that more public companies will buy back their shares. Recently, the China Securities Journal cited an unknown official from the China Securities Regulatory Commission who said that publically traded companies are obliged to buy back their own equities. The Hang Seng Index gained 0.07% to close at 19,811.80. Five out of
Japanese equities tumbled on Tuesday after the government downgraded its economic outlook, citing slowing growth in China. Speculation that the Fed will refrain from easing measures also fuelled global growth concerns, sending risky assets lower. The Nikkei 225 Index shed 0.57% to close at 9,033.29. Only two in ten sectors included in the index posted mild gains. The top-performer was
US blue chips moved lower on Monday as speculation that the Fed and ECB will soon loosen their monetary policies started to vanish. Meanwhile, investors awaited Jackson Hole symposium due to start on Friday. The Dow Jones Industrial Average Index retreated by 0.25% to close at 13,124.67. Only consumer services sector managed to rise by 0.30%. Financials were mixed, with
US equities declined during Monday's session as market participants were cautious ahead of Jackson Hole symposium that opens on Friday by Ben Bernanke's speech. Positive economic data flow from the US over last week weighted down on hopes for QE3, pushing the US stock index lower. The S&P 500 Index lost 0.05% to close at 1,410.44. Only two industries included
Gold rose after a two-day fall in London amid belief the Euro-debt crisis and additional BoE stimulus will fuel demand for wealth-protection. On Tuesday, bullion for immediate delivery gained 0.1% to $1,664.95 per ounce in London. Futures for December delivery traded 0.5% down at $1.667.20 in New York. Silver added 0.4%, while platinum lost 1.2% and palladium slid 1.1%.
The Aussie continued a four-day decline versus the Yen as private data posted the South Pacific nation's new house sales tumbled for the first time in four months. On Tuesday, the Aussie was at $1.0365, after touching $1.0345, the least since July 26. It dropped 0.3% to 81.29 Yen. The Kiwi slid 0.1% to 80.76 U.S. cents and 0.4% to
The Pound depreciated versus the Euro for the first time in three days on belief declining real estate prices will drive the U.K. economy deeper into the crisis, adding signs the BoE will purchase more assets to boost growth. The Pound fell 0.4% to 74.96 pence per Euro, after reaching 79.55 pence, the least since Aug. 7. The Sterling dropped
Farm commodities apart from coffee edged down on Monday on signs that US export demand is slowing. Better crop conditions in Brazil and India also weighted down on the agricultural commodities. Wheat was lower as US export growth is slowing as Russia sells wheat below the US prices inflated by recent drought. Corn was the worst-performer as US harvesting started to accelerate
Energy commodities except for heating oil dropped on Monday amid concerns that global banks may refrain from easing measures. Adding to the negative mood of the commodity group, concerns that tropical storm Isaac will damage oil production started to ease. Crude oil sank on speculation that storm Isaac will damage oil production in the Gulf of Mexico less than initially expected. Brent
Industrial metals were higher over the last week on upbeat US data releases and persistent speculation that global central banks will loosen their monetary policies. However, solid greenback restricted the gains of the base metals. Aluminum rose on positive headlines from the US. Successful debt auctions in Spain and Italy also spurred the light metal's price. Copper balanced between an increase in
Precious metals moved lower on Monday amid broadly stronger US Dollar and mixed global equities. Moreover, speculation that US consumer confidence data due on Tuesday will beat expectations weighted down on the commodity group. Gold dropped as hopes for QE3 in the US started to fade amid strong US data releases. Weak physical demand from India in view of poor crops
Asian stocks declined, as Japan cut its economic assessment and as investors expect signs of monetary policy direction from the Fed. The MSCI Asia Pacific Index fell 0.6% to 119.14, approaching the lowest close since August 6. Japan's Nikkei 225 Stock Average dropped 0.6% and South Korea's Kospi lost 0.3%. Hong Kong's Hang Seng Index slid 0.2%, while both China's