Crude oil prices rose in Asian session on Tuesday as worries about economic instability in the Eurozone eased. Moreover, expected fall in the US crude oil inventories last week also spurred the commodity price. Light, sweet crude oil futures for July delivery traded at 84.63 US Dollars per barrel on the New York Mercantile Exchange, growing by 0.77%.
Gold advanced in Asian session on Friday on hopes that negative US economic data will prompt policymakers to consider next round of quantitative easing. COMEX gold August contract traded at 1,622.85 US Dollars per troy ounce on the New York Mercantile Exchange, climbing by 0.55%. Meanwhile, COMEX silver for delivery in July traded at 28.388 US Dollars per troy ounce,
China's financial institutions increased lending to 700 billion Yuan in May, reported China Securities Journal. However, in April, new loans issued in China dropped from 1.01 trillion Yuan to 681 billion Yuan prompting the policymakers to facilitate new loan approvals. Experts claim new loans are likely to continue growing and may approach 2.4 trillion Yuan by the end of Q2
US new factory orders dropped in April, indicating a fall for the second consecutive month. New orders for manufacturing goods declined by 0.6% in April as compared to a 2.1% decrease in the preceding month. Experts predicted new factory orders to rise by 0.1% in April. Disappointing factory orders data coupled with weak labour market added to worries that US
Chief of China's central bank, Zhou Xiaochuan, said in comments which were published in Chinese Business News on Monday that they will continue buying Eurozone government bonds and support IMF engagement, along with investing in privatization programs and infrastructure. However, Zhou also said that China's central bank does not intend to increase its foreign reserves.
USD decreased against other major currencies on Monday, as investors were focused on hopes that leaders in the Eurozone will act to stop the crisis. EUR/USD gained 0.44% during the U.S. morning trading session, hitting 1.2489; and Cable rose to 1.5386, climbing 0.16%. However, USD/JPY added 0.36%, hitting 78.31.
Futures for natural gas grew in the U.S. morning trading session for the first time for the last eight sessions, as weather forecasts for warm weather in key regions of the U.S. boosted expected demand in near future. On the NYMEX, futures for July delivery were traded at the level of USD2.393 per MMBtu, jumping 2.9% during that trading session.
Futures for gold held steady in the U.S. morning trading session, as investors were anticipating several meetings about possible monetary policy changes. On the NYMEX August futures for gold were traded at USD1,621.15 per troy ounce, dropping 0.06% during that session. Support for gold futures was likely to be at USD1,532.55 and resistance at USD1,639.05.
U.S. markets gained this Monday on last session's sell off as investors guessed whether European committees may bolster Spanish banking sector. The Dow Jones Industrial Average inched higher 19.45 points to 12,139. The Standard & Poor 500 index grew 4 points, a 0.3 per cent increase, to 1,282.13 and the Nasdaq Composite index climbed 22 points, a 0.8 per cent increase, to 2,769.
The single European currency grew in value versus U.S. dollar in Monday trading. The euro ticked higher to $1.2437 from $1.2384. The ICE greenback's index, which shows currency's relation to its six major counterparts, fell to 82.780 from 82.878.
European stock markets declined on Monday , as German stocks edged lower on data, which indicated weakness in Chinese service sector. The Stoxx Europe 600 index fell 0.4 per cent to 234.25. The German DAX 30 index dropped 1 per cent to 5,985.47, with Volkswagen AG tumbling 2.7 per cent and Daimler AG retreating 1.5 per cent.
Asian stock markets edged lower this Monday on U.S. jobs data report that increased concerns about global economic growth. Hong Kong's Hang Seng Index tumbled 2.4 per cent and the Shanghai Composite index slipped 1.7 per cent. The Tokyo's Nikkei Stock Average and the Topix dropped 2.1 per cent and 2.2 per cent respectively.
The dollar ticked higher this Monday during trading hours in Asia, recovering from loses on Friday, after U.S. jobs data release. The greenback increased in value against its Japanese counterpart, with the dollar being above ¥78 level.
According to a London-based recruitment agency Astbury Marsden, an increase of 25% in London job vacancies can be identified in the financial services organizations. The main sectors that generated the growth are foreign exchange as well as the derivatives. The recruitment company added that the risk faced by the euro raises the necessity to employ hedging; therefore, increasing the need in specialists in the respective
Oil futures dropped below $82 a barrel during electronic trading this Monday on U.S. jobs report release combined with concerns about the European Union, as well as growth slowdown in China. Petroleum prices for July delivery fell $1.59, a 1.9 per cent decline, to $81.64 a barrel in trading session of the Tokyo Globex.
U.S. factory orders sank unexpectedly in April, which is a decrease for the second month in a row. U.S. Census Bureau reports that it dropped 0.6%, whereas it was expected that it will gain 0.2%. In March, factory orders declined by 2.1%, which is a revised figure from previously reported 1.9%.
European stocks dropped on Monday, with decrease in German markets. Volkswagen AG fell 2.3 per cent on data, which indicated weakness in Chinese service sector. The Stoxx Europe 600 index gave up 0.5 per cent. The German DAX 30 index lose 1.3 per cent 5,971.85. The French CAC 40 index retreated 0.4 per cent to 2,937.07 and the Spain IBEX 35 index
Bakn Jae Wan, South Korea's Finance Minister, has announced that the country will concentrate on reinforcing economic development as well as ensure state funding for small enterprises and exporters to strengthen their presence. The government is attempting to maintain the progress South Korea has experienced during the past year. However, due to the deteriorated situation in China and fears of Greece's exit out of the
Greek's left-wing Syriza has described a number of actions that would be implemented in case if they are elected to run the country. The primary step would be to substitute the bailout with a national remedy strategy to boost the economic and social state. The plan encompasses halting the cuts on wage as well as pension, increasing the minimum salaries, cutting taxes on such
Eurostat reports that producer price index remained flat in April, disregarding anticipations of a slight 0.2% increase. This figure for March was 0.5% but it has not been revised yet. Year-on-year PPI grew at the pace of 2.6% this April, which is lower than an expected 2.7% increase. This is also lower than a 3.5% increase witnessed in March.
George Soros, Soros Fund Management Chairman, considers that the E.U. has a period of 3 months to resolve the financial crisis until the market can no longer afford to provide it with time. However, at the same moment is it highly likely that the euro will survive as the key currency. Further, Soros believes that the borrowing costs should be eased for countries that received
In a report Sentix said that investor confidence index tumbled 4.4 points, hitting −28.9. It was −24.5 in the previous month. However, it is a milder decrease than analysts had expected; their prediction was that the index would drop 5 points, reaching −29.5 in June. Investor confidence index has been staying below zero for 11 months in a row.
A fourth review of Portugal's spending cuts and reforms has been passed. As Portugal had satisfied all the bailout requirements, it is now awaiting for a transfer of 4bn euros. Overall, the bailout sums up to 78bn euros. 6.65bn euros will be injected into three banks for liquidity provision purposes. Two of the recipients, BCP and BPI, are private banks and one, CGD, is
Australian Bureau of Statistics reported on Monday that companies' gross operating profit in Australia grew slower than it was expected. It surged to −4%, which is more than −6% in the previous quarter. However, analysts expected it to increase to −2%.