The 17-nation currency dropped to the lowest level in five weeks versus the U.S. Dollar after the ECB's Draghi stated that interest rates will remain unchanged. The Eurozone's currency depreciated 0.7% to $1.2914 as of 5 p.m. in New York after slipping to $1.2883, the weakest since May 29. The Euro declined 0.6% to 129.18 Japanese Yen.
European shares inched up for the second day, with the Stoxx Europe 600 Index set for its largest weekly jump in two months, and investors expected report on the American employment rate. The Stoxx 600 advanced 0.2% to 292.75. The gauge is heading towards a 2.7% rise this week. Standard & Poor's 500 Index futures gained 1% and the MSCI
Stocks in Switzerland advanced for a second day in a row before the U.S. jobs data, which is expected to show that unemployment rate in the country decreased. The Swiss Market Index gained 0.5% and was last trading at 7,866.77, while the Swiss Performance Index jumped 0.5% as well. The SMI is still 6.4% below its level on May 22.
The Canada's currency reversed losses after the BoE and ECB stated that interest rates will remain low, boosting the allure of riskier investments. The Canadian Dollar fell 0.1% to C$1.0515 per U.S. Dollar as of 5:00 p.m. Toronto time after it dropped to C$1.0558 earlier. The Loonie has advanced 0.4% in the previous month versus nine developed country currencies.
The U.S. Dollar gained and stock prices increased before country's jobs data is announced, expected to show that employers hired 165,000 people in June. The Dollar Index jumped 0.9%, while S&P 500 future contracts increased 1%. The greenback rose 0.3% to 100.30 Yen. European stocks were little changed after yesterday's gain, while MSCI Asian Pacific Index gained 0.9%
The U.S. Dollar advanced against most of its major counterparts this week ahead of U.S. data today that may indicate companies created enough jobs to reduce the unemployment rate, fueling expansion prospects for the United States. The greenback jumped 0.3% to 100.30 against the Yen and added 0.2% to $1.2892 versus the 17-nation currency.
The British currency depreciated to the lowest level in five weeks versus the greenback after the BoE's Carney said that officials will remain interest rates unchanged. The Sterling declined 0.2% to $1.50545 as of 7:35 a.m. in London after reaching $1.5028, the weakest since May 29, while it traded at 85.72 pence per Euro after touching 86.33 pence on Thursday,
Most of the Chinese stocks dropped, led by health-care and energy companies that overshadowed increase in material producers' and property firms' stock prices. Shanghai Composite Index rose less than 0.1% to 2,007.2, whereas 488 shares dropped, while 406 gained. The CSI Index 300 and Hang Seng China Enterprise Index increased 0.2% and 1.9% respectively.
Gold prices jumped as concerns over Europe's debt crisis were raised by resignation of two Portuguese ministers and as record drop in prices last quarter fueled demand for the commodity. Gold dropped 23% last quarter as the Fed signed an early exist of its QE. A drop in prices increased Turkey's demand for the metal to 4.5-year high. Experts predict
Asian stock prices increased, while the Pound dropped to the lowest point in five week as the ECB and the BOE assured investors that they will not unwind their monetary stimulus any time soon. MSCI index of shares outside Japan jumped 0.5%, while Nikkei appreciated 1.3%. Hong Kong's and Australian stocks rose 1.4% and 0.7% respectively. The Pound dropped to
Rubber prices decreased due to signs that Chinese economy is slowing, increasing concerns about demand for the commodity. Rubber December contracts dropped 0.7% to 245.1 Yen per kilogram and was last traded at 245.9 Yen. This week's reports showed that Chinese growth in manufacturing and non-manufacturing slowed as the government is trying to decrease country's dependency on exports.
WTI oil prices jumped to almost highest level in 14 months and was heading towards second weekly gain as investors speculated that the U.S. will increase its demand. Future contracts were virtually unchanged and was at $101.24 a barrel on June 3. WTI for delivery in August traded at $101.03 a barrel today. Prices have increased 4.6% this week so
The New Zealand and Australian Dollars did not continue yesterday's appreciation against the U.S. Dollar before the U.S. announces its labour market data. The Aussie gained yesterday amid comments about loose monetary policy from the ECB and the BOE. The Australian currency lost 0.1% and traded at 91.35 U.S. cents, while Kiwi Dollar dropped 0.2% to 78.13 U.S. cents.
The Indian Rupee declined, heading towards a ninth week of consecutive depreciation. Losses continue to mount as investors pull money out of the country due to its current-account deficits. The comments by the Fed about the early end of its QE, which lead to funds flowing in developing countries, contributed to the Rupee's weakening. The currency dropped 1.5% this week
Spanish government bonds declined, with 10-year notes retreating for the third day in a row, as demand fell at a sale of the Spain's five-year securities. Spanish five-year bond yield advanced six basis points and the 4.5% security expiring in January 2018 dropped to 103.685. The 10-year note yield jumped three basis points to 4.80%.
U.K. shares rose, bouncing off from yesterday's losses, ahead of European Central Bank and the Bank of England monetary-policy decisions. The FTSE 100 Index added 0.8% to 6,281.58 as of 9:17 a.m. London time, after sliding 1.2% on Wednesday. The FTSE All-Share Index advanced 0.8% today, while Ireland's ISEQ Index gained 0.4%.
Spain's borrowing costs increased after instability in Portugal set European bond yields to rise. A bond auction in the capital city showed that demand for Spain's government securities was 3.46 times larger than the amount sold, while bid-to-cover ratio stood at 1.71. The yield on 10-year Spain's government bonds increased 6 basis points to 4.289%.
World food prices decreased for a second consecutive month in June, being led by declines in sugar and diary prices. The index that traces 55 food items dropped 0.9% to 211.3 in June from 213.2 in May. The gauge reached its record high of 237.9 in February 2011. The sugar prices slid 3% from last month, while the dairy prices
Switzerland's stock rose after 3 days of losses before the ECB's meeting to discuss interest-rate policy. The Swiss Market Index increased 0.8% to 7,735.85, however, the gauge is still 8% below its value on May 22 when the Fed indicated that it might unwind its QE earlier. The Swiss Performance Index gained 0.7%. Economists predict that the ECB will not
Japanese stocks retreated, with the benchmark index declining for the first day out of last six, as rubber-product manufacturers and steelmakers slipped the most among the equity-benchmark's 33 subsectors. The Topix slid 0.3% to 1,170.71 in Tokyo after gaining for five days in a row, while the Nikkei 225 Stock Average fell 0.3% to 14,018.93.
U.K. house values increased in the previous month to the highest level in approximately three years after affairs by the Bank of England and the government spurred property demand. Home prices inched up 0.6% from last month to an average of 167,984 Pounds, the highest level since August 2010, adding to signs house values added 4.1% on a yearly basis.
Gold gained for second straight day on bets that political problems in Egypt and the credit crisis in Europe may boost demand for safe haven assets. Spot bullion added 0.4% to $1,258.35 an ounce, and was at $1,256.30 as of 8:53 Singapore time, after its prices rose 0.8% day earlier. The yellow metal for August delivery gained 0.2% to $1,254.30
The Euro depreciated against the Yen for a second consecutive day amid speculation that the ECB will announce today its commitment to continuation of accommodating policies. The shared currency dropped 0.3% to 129.53 Yen today, while accumulated loss of the past two days was 0.9%. The experts predict that the ECB will keeps its interest rate unchanged at 0.5%.
German 10-year government bunds dropped for the first time in four days, and yields increased from the weakest level in about two weeks, ahead of the European Central Bank releases monetary policy decision. German 10-year bond yields gained one basis point to 1.67% and the 1.5% note maturing in May 2023 declined to 98.44.