German 10-year bunds advanced, after declining for four days in a row, following a concern the credit squeeze in China will dampen economic growth, fueling demand for haven assets. German 10-year bond yield declined three basis points to 1.78% and the 1.5% note maturing in May 2023 jumped 0.24 to 97.445.
European stock futures advanced ahead of data that may indicate U.S. durable goods orders and sales of new homes jumped in May. U.S. index futures remained steady, while Asian stocks retreated. Futures for the Euro Stoxx 50 Index maturing in September advanced 0.4% to 2,520. The equity gauge is set for a decline in Jun of 8.4%, the largest monthly
The Canada's currency depreciated above C$1.05 against the U.S. currency to touch its weakest level in about two years amid speculation the U.S. Dollar will appreciate when the Federal Reserve tapers bond purchases. The Canadian Dollar declined 0.4% to C$1.0501 versus the greenback, following a fall to the weakest level since October 5, 2011.
The Japanese Yen appreciated from the weakest level in two weeks against the Dollar after Asian shares declined for the second day on worries that elevated money-market rates in China will dampen economic expansion, supporting demand for refuge assets. The Yen jumped 0.3% to 97.40 against the U.S. Dollar and rose 0.4% to 127.73 versus the Euro.
Gold and silver recovered from their lowest levels in over two years amid bets the decline may boost purchases. Gold for immediate settlement jumped 0.8% to $1,295.60 and the August Bullion contracts gained 0.6% to $1,293.60. Silver for immediate settlement climbed 0.5% to $19.8022 per ounce following a decline to $19.3993.
Gold gained from near to three-year low on bets that the drop may boost purchases; however, the yellow metal is still headed for its weakest week in almost 10 months. The bullion slipped 4.9% on Thursday; a day after the Fed's Bernanke said that U.S. central bank's monetary stimulus could be slowed down this year. Bullion prices touched $1,269.46 an
German shares advanced, with the benchmark DAX Index erasing its third straight one-week loss, on expiry of European equity-related options and futures contracts. The DAX Index gained 0.3% to 7,952.66 as of 10:33 a.m. Frankfurt time; however, the gauge is heading for a 2.2% decline weekly on speculations that the Fed could start tapering stimulus. The HDAX Index added 0.3% today.
Shares in Switzerland bounced off from the biggest decline in almost two years as investors bought stocks close to the lowest value since February. The Swiss Market Index advanced 0.6% to 7,539.56 as 10:05 a.m. Zurich time; however, the equity-benchmark has retreated 3.1% day earlier after the Fed's Bernanke said the officials could reduce stimulus if the economy continue to
German shares recovered from the last sessions sell-off on Friday, after metals settled and investors looked out for bargains amid tapering concerns over China's credit crisis. The German benchmark DAX advanced 27 points to 7,956 on expiration of European futures and options contracts. The German leading economic index rallied 0.1% and was at 105 in April.
U.K. shares jumped, recovering from their largest fall in 21 months, after BHP Billiton Ltd. jumped. The FTSE 100 Index advanced 27.04 points to 4,186.55, after yesterday's largest contract since September 22, 2011. The equity benchmark is set for the fifth week of fall, after the Federal Reserve said if the U.S. economy grows as predicted, the bank will taper
The Australian currency was headed for its biggest one-week decline against the U.S. Dollar in more than one and a half year after the Fed's Bernanke stated that the officials could end the stimulus programme next year. The Aussie advanced 0.3% to 92.24 U.S. cents at 5:31 p.m. Sydney time from Thursday, when it touched 91.97, while the Kiwi appreciated 0.2% to 77.71 U.S. cents
Germany's government bunds declined for the second day, pushed towards largest weekly drop in five years, after concerns that officials around the world will cut stimulus. German 10-year bond yield advanced two basis points to 1.68% and touched 1.70%. The price of the 1.5% bond maturing in May 2023 slipped 0.165 to 98.345.
Treasury 10-year security yields are headed towards their largest weekly gain in two years while rates in Australia and New Zealand jumped the most since 2009 amid outlook the Federal Reserve will begin to scale back asset purchases. The 10-year Treasury note yield gained 29 basis points to 2.42% and the price of the 1.75% bond maturing in May 2023
U.K. government gilts declined for the second day, sending 10-year bond yields to a 15-month high, after bets the Federal Reserve will taper asset purchases. The benchmark 10-year bond yield advanced two basis points to 2.31%. The 1.75% gilt maturing in September 2022 declined 0.16 to 95.35. Investors in U.K. bonds have suffered a loss of 2.9% this year.
European shares rose, with the benchmark Stoxx Europe 600 Index surging after Thursday falling the most in approximately one and a half year. The Stoxx 600 advanced 0.3% to 284.49 as of 8:05 a.m. London time after the gauge fell day earlier on worries that the Fed could start tapering stimulus at the end of this year. Standard & Poor's
According to the official data, the manufacturing index of Philadelphia's Fed surged to 12.5 points in June. The indicator reached its highest value since April 2011. In May the index was negative with -5.2 points. Analysts predicted the manufacturing activity to increase to -1 point, but still to be negative. The positive indicator shows an advance in manufacturing activity of
Hong Kong shares reversed retreat after China's benchmark money-market rates declined form record highs, calming worry about China's credit crunch. The Hang Seng Index slipped 0.3% to 20,323.20 at 2:41 p.m. Hong Kong time after reversing a 2% loss; moreover, it is headed for 3.1% decline weekly, making it the sixth straight week of retreats.
Asian shares outside Japan declined, with a equity-benchmark set for the lowest close in almost 10 months, on worries the Fed will scale back the bond-buying programme and China's economic crunch. The MSCI Asia Pacific Excluding Japan Index fell 0.6% to 421.05 at 3:23 p.m. Tokyo time, reversing losses of 1.4%, while China's Shanghai Composite Index slid 0.1%.
Japan's shares climbed after overseas sellers recovered as the Japanese Yen depreciated. Stocks plummeted earlier after regional gauges declined following Ben Bernanke's comments on reducing purchases. The Topix index advanced 0.7% to 1,099.40, after declining 2.9%. The gauge jumped 4.1% this week and the Nikkei 225 Stock Average inched up 1.7% to 13,230.13.
The British currency was little changed versus the greenback and the 17-nation currency ahead of a report that will show a fall in Britain's budget deficit in May compared to last year, according to economists. The Sterling was at $1.5515 as of 7:29 a.m. in London after touching $1.5415 on Thursday, the weakest since June 6, while the currency traded
The U.S. Dollar headed towards a weekly rise against all its major counterparts ahead of U.S. report due next week on home prices and durable-goods orders that could signal that the Federal Reserve may taper its stimulus. The U.S. currency appreciated 0.5% to 97.80 versus the Yen. The Euro block's currency gained 0.1% to $1.3236.
Copper declined to the lowest level in seven weeks as industrial metals plummeted after the Federal Reserve Chairman Ben Bernanke said that the Fed may start to slow down stimulus. Copper for three month settlement retreated 1% to $6,888.25 per metric ton, and today was at $6,902. The September metal contracts fell 0.9% to $3.1225 a Pound.
Gold retreated under $1,300 per ounce to a 2 1/2 year low, prolonging April's decline into the bear market, as the Federal Reserve Chairman Ben Bernanke said bond purchases may be eased later this year as the U.S. economy is showing more signs of improvement. The August Bullion contracts dropped 6.5% to $1,285, the lowest in over two and a
The South Korean currency plummeted to the weakest level in 11 months and the five-year government security yield climbed to the highest level since July 2012 as the Federal Reserve announced it may start to slow its bond purchases soon. The South Korean Won declined 1.3% to 1,145.63 against the U.S. Dollar.