The U.S. Dollar jumped versus the Japanese Yen as traders boosted bullish bets on the U.S. Dollar amid bets the Federal Reserve will provide information about tapering bond purchases. The greenback inched up 0.3% to 101.29 against the Yen, after reaching 101.53 yesterday. The U.S. Dollar declined 0.1% to $1.2881 versus the 17-nation currency.
The British currency was little changed against the greenback ahead of the industrial production data that are expected to show increase in May, according to economists. The Sterling was at $1.3963 at 7:42 a.m. in London after slipping to $1.4858 on July 5, the weakest since March 12. The British Pound traded at 86.12 pence per Euro after falling to
The Aussie dropped versus almost all of its most-traded peers on concern that faster China's inflation could influence exports to world's second biggest economy. The Australian currency depreciated 0.1% to 91.25 U.S. cents at 3:00 p.m. Sydney time from Monday, when it rose 0.7%, the most in more than a week. The Kiwi traded at 78.03 U.S. cents.
The Stoxx Europe 600 gauge increased 1.4%, pushing demand for the Krone. The currency advanced 1.8% to 6.1417 per Dollar as of 4"35 p.m. in London, the greatest increase since September. The Krone also strengthened 1.4% to 7.9063 per Euro. It soared versus the Swedish Krona after data showing Sweden's manufacturing is worsening.
Developing nation stocks declined for a second straight day, bond yields soared an India's currency dropped amid speculation the Federal Reserve will curb its bond-purchasing programme. The MSCI Emerging Markets gauge fell 1% to 908.82 as of 10:52 a.m. New York time. Emerging-market stocks lost 2.4% last week when U.S. jobs report showed better than expected results.
The Sterling appreciated from almost the lowest level in four months versus the greenback before tomorrow's reports on U.K. industrial output. Economists expect data will show industrial output rose in May, signaling the country's accelerating pace of recovery. The currency advanced 0.3% to $1.4927 as of 1:51 p.m. in London. It rose 0.1% to 86.13 pence per Euro.
West Texas Intermediate crude declined from the highest in 6 months after Egypt's officials announced that traffic through the Suez Canal, one of the main crude waterways, is secure. Despite unrest in Cairo, 55 tankers are planned to pass the Suez Canal. WTI for August settlement fell 0.7% to $102.52 a barrel as of 9:53 a.m. on the New York
The British currency reached the lowest level in almost a year on bets that the Bank of England will leave monetary stimulus unchanged. The Pound depreciated less than 0.1% to 86.21 pence per Euro as of 12:01 p.m. in London after falling to 86.33 last week, the lowest level since April 17. The U.K.'s currency was at $1.4907 after declining
German 10-year government bunds remained steady as data indicated industrial output in Germany retreated more than economists expected in May. The bund yield was at 1.72% and the two-year bond yields were at 0.10%. Production declined 1% in May and economists predict that it will continue falling.
U.K. shares gained, following their biggest one-week advance in one and a half year, as investors awaited the unofficial start of the U.S. earnings season. The FTSE 100 Index gained 1.2% to 6,453.96 as of 8:48 a.m. London time; moreover, the equity-benchmark rose 2.6% previous week. The FTSE All-Share Index also climbed 1.2% today, while Ireland's ISEQ Index added 0.7%.
Stocks in Switzerland rose following two weeks of gains as the U.S. earnings season is about to begin. Transocrean Ltd. and Cie Financiere Richemont led the gains, both climbing 2%. The Swiss Market Index increased 1.1% to 7,867.11 so far today, while the Swiss Performance Index rose 1.1% as well. The SMI jumped 1.3% last week.
The Turkish Lira rebounded after the central bank engaged in a monetary tightening, where it sold $500 million in an auction. The currency jumped 0.8% to 1.9527 per U.S. Dollar so far today. The central bank already sold $2.9 billion since June 11 in order to curb depreciation, but added that the intervention is temporary. The Lira has lost 8.7%
The yields on Treasuries decreased after 3 days of surging as some investors claimed that they offered higher value after reaching highest point in almost 2 years. The yield on 10-year U.S. government securities dropped 4 basis points to 2.71%. The relative strength index of 10-year yields stood at 73, which is considered to be an indication that a reversal
Gold was flitting between gains and losses as better-than-predicted U.S. employment report pushed the U.S. Dollar to the strongest level since July 2010 and fueled speculation that the U.S. Federal Reserve may taper bond purchases. Gold for immediate settlement remained flat at $1,223.53 per ounce in Singapore following a jump and decrease of 0.6%.
European shares rallied, after the Stoxx Europe 600 Index advanced for two weeks in a row, while investors awaited for Alcoa Inc. start the U.S. earnings season and for the Euro block finance ministers' meeting in Brussels. The Stoxx 600 inched up 0.7% to 290.39 and the equity benchmark gained 1% on July 5 following better-than-expected employment data.
European stocks jumped before euro-zone's finance ministers' meeting, while Asian shares fell due to better-than-expected U.S. jobs data, which added to concerns that the Fed might unwind its QE and led to capital outflow. The Stoxx Europe 600 Index increased 0.8% so far today after gaining 1.2% last week. The MSCI Asia Pacific Index dropped 1.5%
Chinese shares fell the most in 14 days as energy and industrial company indexes dropped to the lowest level in almost five years. The Shanghai Composite Index declined 2.4% to 1,958.27 at the close, after gaining 1.4% previous week, while the CSI 300 Index slipped 2.8% to 2,163.62. The Hang Seng China Enterprises Index slid 1.1% in Hong Kong.
The British Sterling was little changed against the U.S. currency and the 17-nation currency ahead of the industrial production data that are expected to expand, according to economists. The Pound traded at $1.4896 at 8:07 a.m. in London; moreover, it fell to $1.4858 on July 5, the weakest since March 12. The British currency traded at 86.12 pence per Euro
Asian shares decreased the most in two weeks on concern a credit crunch in China will damp expansion and following a better-than-predicted U.S. Employment data boosted worries that the Federal Reserve may start to taper bond purchases this year. The MSCI Asia Pacific Index slipped 1.6% to 129.28.
German government securities rose before the country's data release, which will show that industrial production activity declined, according to economists' predictions. Weakening economic activity in Germany is expected to push the ECB towards cutting the rates. Yields on 10-year German bunds dropped 2 basis points to 1.70%, while Italian bond yield decreased 4 basis points to 4.39%.
U.S. shares advanced, with the Standard & Poor's 500 Index jumping the most in three weeks, as government report indicated the United States created more jobs than predicted last month. The S&P 500 added 1% to 1,631.89, the biggest gain since June 13. The Dow Jones Industrial Average inched up 1% to 15,135.84.
The Stoxx 50 Index future contracts, expiring in September, jumped 0.6% to 2,614 so far today. Futures on the FTSE 100 Index and S&P 500 Index rose 0.5% and 0.1% respectively. It is believed that European stocks might be set to rise before Mario Draghi's hearing and European finance ministers' meeting.
Emerging market stocks decreased for a second consecutive day as investors speculate that the Fed might unwind its monetary stimulus due to better-than-expected U.S. jobs data. The MSCI Emerging Market Index dropped 1.4% to 904.91 so far today. The gauge remains 14% below its value on May 22 when Bernanke signaled a possibility of an early exit of QE.
The Dollar Index increased to the highest point in 3 years as investors speculate that signs of recovery will lead to the Fed tapering its monetary stimulus. The gauge reached 84.588, the 3 year high, but then dropped to 84.532, which is 0.1% higher than the close last week. The Euro decreased 0.1% to 1.2817 U.S. Dollars, while the greenback