Canadian trade balance advanced less than initial forecast in February, according to Statistics Canada. The country's trade surplus expanded by 0.3 billion Canadian Dollars on a seasonally adjusted basis in February as compared to 2 billion Canadian Dollars in January. Experts predicted Canada's trade balance to soar by 2.0 billion Canadian Dollars. Major contributors to the fall in trade surplus
Gold futures declined during Asian trading hours on Friday amid broadly stronger US Dollar. US Dollar Index that traces the greenback's value against a set of six main currencies increased by 0.17% to 79.60 US Dollars. COMEX gold for delivery in June traded at 1,675.25 US Dollars per ounce on the New York Mercantile Exchange, declining 0.32%.
Rural commodities rallied on Wednesday as effect of the recent USDA report started to fade. Weaker US Dollar also lifted agricultural commodity prices. Grains caught momentum on speculation that colder weather in the main US planting regions may damage crops. Wheat's upswing was capped as weather conditions in Russia improved and winter-grain plantings are expected to provide sufficient crops. Similarly,
Energy commodities excluding natural gas rose after several days of losses on Wednesday, being bolstered by the Fed report that indicated stable growth of the US economy. Moreover, sharp fall of the US fuel inventories offset a buildup of the crude oil stocks thus pushing energy prices up. However, in case negotiations between Iran and Western economies that started on
Industry metals apart from nickel advanced on Wednesday on softer greenback and positive signs from the world's largest economies. Fed assessment of the US economic state indicated that the country's economy grows at the moderate pace. Moreover, positive data from the Pacific region spurred the rally of the base metals pack. Aluminium was the top-performer on the improving demand prospects
Precious metals except for palladium moved down on Wednesday sessions despite stronger equities and softer US Dollar. The commodity group was pressured by lack of fresh easing measures from Fed and overall instability in the Euro Zone. Gold was only marginally lower, consolidating at 1658.98 US Dollars per ounce after fluctuating on speculation about Fed readiness for fresh liquidity measures.
German DAX index traded slightly higher on Thursday supported by car makers and technology shares but retreated as data showed US jobless claims rose more than expected. Volkswagen gained 1.4% and BMW AG surged 1.8% as data showed Euro Zone industrial production advanced by 0.5% in February instead of predicted drop. Infineon Technologies rallied 4.6% after Deutsche Bank upgraded the
FTSE 100 index fluctuated between gains and losses on Thursday as government reported UK's trade deficit widened more than expected in February. Royal Dutch Shell tumbled 5% on news an oil sheen had been detected in the Gulf of Mexico. Aggreko jumped 2.4% after temperature-control supplier reported a strong growth in revenue. GKN climbed 5% after Credit Suisse upgraded the
Asian share markets closed mostly up on Thursday as World Bank lowered China's economic growth forecast from 8.4% to 8.2%, boosting speculations for higher probability of additional monetary stimulus. Shanghai Composite index gained 1.8%, Hong Kong's Hang Seng index added 0.9% and Japanese Nikkei 225 index climbed 0.7%. Australian S&P/ASX 200 index surged 0.8% while South Korean Kospi index breached the overall
Japan's Nikkei Stock Average index beached 7-day downward path and closed 0.70% or 66.05 points higher at 9,524.79. Nikkei 225 index was positively affected by Masaaki Shirakawa's claim Bank of Japan Governor may continue to provide monetary stimulus. Kawasaki Kisen Kaisha lost 2.3% on worries oil shipments from Iran won't be protected by Japanese insurers due to the sanctions on
Dow Jones Industrial Average index climbed higher on Wednesday lifted by Alcoa Inc. Blue chip index added 0.70% or 89.46 points and closed at 12,805.3. Alcoa, the biggest US aluminium manufacturer posted an unpredicted profit for the 1st quarter as aluminium orders surged. Instead of expected loss of USD 0.04 a share, Alcoa posted a gain equal USD 0.09 a
S&P 500 index rebounded from sharp losses on Tuesday and moved higher on Wednesday as Alcoa posted an unexpected profit. American index gained 0.74% or 10.12 points and finished at 1,368.71. Genworth Financial rallied 3.2% after BTIG LLC upgraded its stock to buy. Owens-Illinois jumped 6.9% after the glass- bottle producer predicted 1st-quarter earnings will advance more than annual 35%
Iranian oil output is likely to decline by 500,000 barrels per day by the end of this year and by 200,000 next year, reported the EIA. The lack of proper investment in the sector as well as sanctions imposed by the EU and US both are expected to accelerate the fall in the Iranian oil production. JP Morgan projects the
Germany's bond yield advanced after the country did not manage to meet maximum sales target. The average yield on the new benchmark 10-year bunds rose by six basis points, advancing to 1.71%. At the same time yields on two-year notes added four basis points approaching 0.13%.
The Canadian Dollar hit the lowest figure since January ahead of Bank of Canada monetary policy report. Despite stability in stock and commodity markets the Loonie traded at CAD 1.0038 after strengthening to CAD 1.0009, the lowest since January 31. Currently USD/CAD is trading at CAD 1.0011.
Gold futures retreated in Asian session on Thursday as traders started to sell the yellow metal to cash from the market despite weaker US Dollar. COMEX gold for delivery in June traded at 1,633.75 US Dollars per troy ounce on the New York Mercantile Exchange, losing 0.04%. Meanwhile, silver for delivery in May traded at 31.580 US Dollars per troy
New Zealand and Australian currencies strengthened on Thursday as US shares recovered and data showed Australian employers added nearly 7 times more new jobs than predicted in March. Aussie rose 0.5% versus its US peer to USD 1.0301 while Kiwi jumped 0.4% to USD 0.8181. Currently AUD/USD is trading at 1.0390 and NZD/USD is trading at USD 0.8208.
New Zealand's PMI slid by 3.2 points to 54.5 on a seasonally adjusted basis in March, according to BNZ-BusinessNZ. Despite slight fall, the figure is still the second highest since May 2011. Four out of five major diffusion indices expanded last month, being supported by growth in production and new orders. Improving labour market also contributed to the expansion of
Crude oil futures fluctuated slightly during Asian trade on Thursday after data on moderate expansion of the US economy and falling yields on Spanish debt. Light, sweet crude oil futures for May delivery traded at 102.56 US Dollars per barrel on the New York Mercantile Exchange, advancing by 0.14% from the previous session's low of 102.52 US Dollars per barrel.
The rate of unemployment in South Korea tumbled in March, after attaining 11-month high in February. The March reading indicated that the jobless rate fell to 3.4% as compared to 3.7% in February, reported Statistics Korea. The number of people who have a job increased by 419,000 as compared to March 2011.
Natural gas futures fell below its key support level of 2.00 US Dollars per BTU, approaching 10-year low late on Wednesday as traders continued to sell off the fuel. Natural gas for May delivery traded at 1.98 US Dollars per BTU on the New York Mercantile Exchange, sinking by 2.39% in late US trade.
NZD/USD bounced off the support level at 0.8120, forming a rising wedge pattern on the 1H chart. The formation has 61% quality along with 83% magnitude in a 47-bar period.The price was capped at 0.8220, then at 0.8226, and lowered to the support level around 0.8198. The Stochastic indicator lowered to 40.78% after it had touched the 80% area. The
Benoit Coeure, the member of ECB board proved a speculation ECB may renew its bond buying program in order to cut Spanish yields as European debt turmoil threatens to appear again. Coeure reminded on Wednesday the ECB has an instrument to justify Spain's market conditions. 17-nation currency appreciated and Spanish borrowing costs fell on the announcement.
US stock markets closed higher on Wednesday after aluminium manufacturer Alcoa posted an unexpected profit amid declining Spanish and Italian borrowing costs. S&P 500 index gained 0.74% or 10.12 points and finished at 1,368.71 while Dow Jones Industrial Average index added 0.70% or 89.46 points and closed at 12,805.3. Nasdaq Composite climbed 0.84% or 12.24 points settling at 3,016.46.