Crude oil prices were flat in Asian session on Monday, losing momentum gained after Iran reported on the lower oil export volumes. Moreover, market sentiment was not strongly exposed to the weak US housing data as investors are positive about the US economic state and await fresh manufacturing news. Light, sweet crude oil futures for May delivery traded at 106.61
17-nation currency advanced versus Japanese Yen on speculations Europe may combine two bailout funds to terminate debt crisis. Euro added 0.3% versus Yen to JPY 109.60 and traded at USD 1.3255 on Friday. Currently EUR/JPY is trading at JPY 109.48 and EUR/USD is trading at 1.3259.
Canadian Dollar weakened for a third consecutive week as the advance in higher yielding assets slowed, boosting demand for Swiss franc, Yen and US Dollar. Loonie fell 0.6% on weekly basis against its US peer reaching CAD 0.9978. Currently USD/CAD is trading at CAD 0.9978.
The New Zealand and Australian currencies ascended versus Japanese Yen ahead of US data which are expected to show consumer confidence stayed close to one-year record high. Aussie added 0.4% to JPY 86.49 while Kiwi gained 0.2% to JPY 67.52. Currently AUD/JPY is trading at JPY 86.29 and NZD/JPY is trading at JPY 67.39.
Gold prices moved higher during Asian session on Monday, being supported by the broadly softer US Dollar after disappointing US housing data. COMEX gold June contract traded at 1,670.05 US Dollars per troy ounce on the New York Mercantile Exchange, gaining 0.72%. Meanwhile, COMEX silver for delivery in May traded at 32.375 US Dollars per troy ounce, plunging by 0.70%.
US shares slightly recovered and traded higher on Friday supported by an advance in energy companies. S&P 500 rose 0.31% or 4.33 points and finished at 1,397.11, Dow Jones Industrial Average gained 0.27% or 34.59 points and settled at 13,080.73 while Nasdaq Composite added 0.15% or 4.6 points to 3,067.92.
The economy of Vietnam is expected to grow by 4% in Q1, indicating slower expansion pace than in the two previous years, said government official. Looking at the past data, the GDP rose by 5.57% in Q1 of 2011, by 5.84% in Q1 of 2010 and by 3.14% in Q1 of 2009. Meanwhile, the CPI increased by 0.16% this month,
Although equity markets closed slightly higher on Friday, European stocks experienced the worst week this year as miners and banks sharply declined on worries about global growth. Stoxx Europe 600 traded flat on Friday but gave up 2.5% on weekly basis. FTSE 100 index climbed 0.1% and German DAX added 0.2%. French CAC 40 gained 0.1%.
The trade balance of New Zealand increased more than initially projected in February, reported Statistics New Zealand. The trade balance soared to 161 million New Zealand Dollars last month as compared to a deficit of 199 million New Zealand Dollars in January. Experts predicted the trade surplus to approach 153 million New Zealand Dollars in February.
Canadian annual inflation pushed higher in February, boosted by higher food and gasoline prices. However the increase was not rapid enough to force central bank change its low interest rates. Annual inflation climbed 2.6% in February compared to 2.5% in January. Economists surveyed by Reuters forecast an advance to 2.7%. Core inflation measure which excludes particular food items and gasoline
The sales of new houses in US unexpectedly declined in February for a second consecutive month, signalling a recovery in property market by be slowing down. Sales fell 1.6% to 313 000 annual rate, compared to 318 000 in January. Analysts questioned by Bloomberg expected an increase to 325 000 annual pace.
Japan and Canada have embarked on negotiations aimed at setting up free trade zone between two countries. However, experts claim it would be difficult to agree for two countries as Japan continues to protect its agricultural and farming sector from foreign competition. At the same time, Japan is large importer of Canada's commodities as coal, copper and food products. Canada
German DAX index declined for a fourth consecutive session as investors awaited report on US new house sales. Siemens AG and BMW AG contributed to the negative side of index each giving up 1%. On the upside index was supported by telecommunication stocks with Deutsche Telekom adding 1% and heavyweight Henkel AG surging 1.4%. At the moment of writing DAX
Rural commodities apart from coffee advanced on Thursday on the talks over Brazilian crops. Grains were mostly lifted by the fears that favorable US weather may soon deteriorate, impacting the plantings. Wheat also caught momentum on stronger export and growing concerns over the EU, North African and Russian harvest. Moreover, unexpected surge in Tunisian and Moroccan imports because of dry
Industry metals tumbled on Thursday amid stronger US Dollar and weaker equities. The strongest downward pressure on the commodity pack was created by weak PMI releases from the EU and China. Improving manufacturing activity in the US failed to limit the losses. Alumnium and copper were the top-losers, showing high sensitivity to the economic conditions in the EU and China.
Precious metals slumped along with disappointing PMI data from the EU and China. From the other side of the Atlantics, the commodity group also did not find any support as signs of US economic recovery vanished hopes on further monetary easing in the country. Gold was the driver for the commodity pack, pulling other precious metals down. The yellow metal
Asian stock markets declined on Friday on renewed worries about economic development. Property and financial companies pushed most of indices in red. Japan's Nikkei Stock Average and Hong Kong's Hang Seng index fell 1.1% while Australian S&P/ASX 200 slipped 0.1%. Shanghai Composite index declined 1.1% but South Korea's Kospi was the only major index that managed to climb 0.04%.
Japan's Nikkei Stock Average retreated from yesterday's gains and tumbled on Friday as Yen appreciated versus US Dollar after data showed unemployment claims in US declined to a four-year record low. Nikkei 225 index lost 1.14% or 115.61 points and closed at 10,011.47. Export shares were most harmed by the strengthening Yen. Honda lost 2.9%, Sony lost 3.1% while Toshiba
Energy commodities fell on Thursday on the global demand concerns after China and the Euro Zone's countries reported lower than expected PMI data. Moreover, talks that large manufacturing countries are planning to release the strategic oil resources to curb inflation pulled the oil price down. At the same time, easing tensions between Iran and the West as Saudi Arabia is
British FTSE 100 extended drop on Friday as miners and banks kept pushing index lower. Additionally data showed UK mortgage approvals declined more than expected in February. Randgold Resources fell 5% and Rio Tinto shed 1.4%. Royal Bank of Scotland Group lost 1% and HSBC Holdings slipped 1.2%. On the upside BT group rallied 6% on news telecom company finally
Hong Kong's Hang Seng index fell sharply on Friday as concerns about global recession returned after investors gathered European and Chinese PMI reports. Hang Seng index dropped 1.11% or 232.76 points and closed at 20,668.80. Shares of heavyweight Agricultural Bank of China negatively affected the overall performance of the index. The lender tumbled 3% after reporting a 14% decline in
Dow Jones Industrial Average index closed lower on Thursday led by energy and industrial shares as weaker than expected PMI data from China and Europe weighed on investor sentiment. Blue chip index lost 0.6% or 78.48 points and settled at 13,046.14 with growth dependent stocks contributing most to the downside. Caterpillar and Chevron dropped 2.4%, while Alcoa Inc fell 2.5%.
Despite positive US jobs data, S&P 500 index extended losses on Thursday in line with analyst expectations as investors kept holding a pause after sharp rally in first three months. US benchmark fell 0.72% or 10.11 points and closed at 1,392.78 with nine of ten sectors posting substantial losses. Watson Pharmaceuticals rallied 3.8% on reports it is in talks to
US stocks prolonged losses on Thursday in line with analyst expectations as investors kept holding a pause after sharp rally in first three months. S&P 500 index dropped 0.72% or 10.11 points and closed at 1,392.78, Dow Jones Industrial Average slipped 0.6% or 78.48 points to 13,046.14 and Nasdaq Composite fell 0.39% or 12 points and settled at 3,063.32.