The European benchmark Brent crude slipped on Friday session with the WTI-Brent discount narrowing to $6.38 today from January's level of $8.91 after inventories in the U.S. shrank and as maintenance season may bring lower demand. Brent for delivery in April dropped as much as 34 cents to $108.62 per barrel on the London's ICE.
West Texas Intermediate oil declined on Friday falling for the second straight session and reducing its monthly gain on speculation that demand in the world's largest oil consumer, U.S., may slow down amid maintenance season. WTI for settlement in April slipped 53 cents to $101.87 per barrel on the NYMEX and was last seen at $102.21 by 1:23 p.m. in
Economic growth of the world's largest economy was downwardly revised from 3.2% showed in an original report to a level of 2.4% in the December quarter, the Commerce Department showed on Friday. The report also unveiled that the U.S. consumer spending advanced at a slower rate than initially estimated in the Q4.
Precious metals mostly gained on Friday trading session after a government report showed that the world's largest economy rose slower in the last quarter of 2013 and as China's currency weakened pushing demand from the region lower. Silver for settlement in May rose 0.2% to $21.31 an ounce, palladium surged 0.1% to $744.50 an ounce, while platinum fell 0.2% to
Gold traded in New York decreased on Friday session trimming its monthly increase as investors took profits after prices of the metal rose to the strongest level in seventeen weeks in speculation that weaker China's currency may ease demand from the region. Bullion for delivery in April fell 0.3% to $1,328.20 an ounce as of 7:32 a.m. on the Comex.
Current economic situation indicator in the 18-nation bloc improved in February rising for the eight consecutive time and staying positive for the sixth straight month, a report published by the Bank of Italy unveiled on Friday. According to the report, the Eurozone's eurocoin indicator gained from 0.31 points in January to February's level of 0.35.
India's gross domestic product increased in the last quarter of 2013, however at a slower rate than economists preliminary estimated, a report published by the Central Statistics Office revealed on Friday. According to the report, the country's economy grew 4.7% on an annual basis in the Q4 after rising by 4.8% in the quarter before.
The Chinese currency declined on Friday and recorded its largest weekly decrease all-time after the People's Bank of China intervened on the market and weaken the country's currency before the policy meeting next week. The Yuan slipped as much as 0.8% to 6.1808 a U.S. Dollar and it closed today at 6.1450, 0.27% lower than yesterday.
The Japanese currency swung between gains and losses on Friday as it advanced versus the U.S. Dollar and slipped against the Euro as emerging markets increased and as investors weighed on data showing inflation in the Eurozone remained flat and before the U.S. GDP report was released. The Yen added 0.2% versus the U.S. Dollar, while it tumbled 0.4% against
U.S. Treasuries increased on Friday session pushing the benchmark 10-year government yields towards the lowest level in three weeks after a report showed steady inflation in the euro area last month and as investors expected GDP data from the U.S. 10-year yields dropped to 3-week low of 2.638% after they were seen at 2.67% yesterday.
The majority of European stocks declined on Friday trading session with the shared currency rising towards the strongest level recorded this year after a report showed that consumer prices in the Eurozone held firm this month cooling concerns that the ECB may lower rates. The FTSE Eurofirst 300 index slipped 0.4% to 1,340.30 as of 12:50 in London.
Copper traded near the lowest in two months as China slowing growth and a weaker Yuan might reduce demand for the metal in China. Copper for delivery in May traded at $7,034.25 a ton at 4:24 p.m. in Tokyo after floating between $7,054 and $6,995. The price reached $6,993.50 on Thursday trading session, the lowest since Dec. 4. The metal for delivery in May on the CFFEX
The Sterling gained to the strongest in almost two weeks versus the greenback as report indicated the rise in house prices last month and consumer morale reached the highest level since September 2007. U.K. currency grew 0.2% to $1.6727 as of 9:47 a.m. London time after it touched $1.6744, the strongest since Feb. 17. The Sterling has added 1.7% this month, the biggest gain since November.
The Chinese Yuan fell by the most on speculation that nation's central bank will double currency's trading band. The Yuan slipped 0.86% reaching the lowest level in ten months at 6.1808 per U.S. dollar in Shanghai, making it the biggest daily fall in China since 2007. It is expected that China's central bank will double Yuan's trading band at the
Natural gas futures dropped for a fifth day reaching to the highest weekly fell in 17 years in New York, when a government data presented a U.S. stockpile drop. Natural gas futures for delivery in April declined 1.3% during the electronic trading today in NY Mercantile Exchange and reached to $4.486 per million British thermal units. The amount of all futures traded
Gold is on the verge of its first monthly gain from August, amid concerns the U.S. economy recovery may lose the intensity and the haven demand that is boosted due to turmoil in developing markets. Bullion for immediate delivery for this morning was at $1,332.61 an ounce in Singapore, compared with yesterday's $1,331.33 number. Prices are at 7% higher this month and touched the highest level in
U.S. stock-index futures were little changed, as the Standard & Poor's 500 Index reached record yesterday at the close, as U.S. economic data are awaited by investors. S&P 500 futures expiring in March slid 0.1% to 1,852.6 as of 10:54 a.m. London time; however, it has gained 4% this month. Dow Jones Industrial Average contracts slipped less than 0.1%to 16,265
West Texas Intermediate crude dropped for a second straight day, reversing a monthly gain on speculation that U.S. demand might slow. WTI for April settlement slid 53 cents to $101.87 a barrel on the New York Mercantile Exchange and traded at $102 at 10:02 a.m. in London. Brent for April delivery declined 46 cents to $108.50 a barrel on the
Gold is set for second consecutive monthly advance as worries that the U.S. economic recovery might be losing momentum and unrest in emerging markets increased safe haven demand. The yellow metal for immediate delivery traded at $1,332.61 an ounce as of 9:26 a.m. Singapore time, after it was at $1,331.33 on Thursday. Gold has advanced 11% this year to date.
German shares were little changed, after retreating for three straight days, as the consumer confidence and pending home sales were awaited by investors. The DAX Index added 0.1% to 9,595.91 as of 10:15 a.m. Frankfurt time, it is set for 3.1% monthly advance in February. The HDAX Index rose 0.1% today as well.
U.K. shares were little changed, reversing their biggest one-month advance since July, as some major companies retreated. The FTSE 100 Index slid 0.1% to 6,802.78 as of 10:03 a.m. London time and it has gained 4.5% in February. The FTSE All-Share Index slipped less than 0.1%, while Ireland's ISEQ Index climbed 0.2% today.
Eurozone's currency appreciated to a 2014 high versus the U.S. Dollar as inflation in the Euro area topped analyst estimates. The 18-nation currency gained versus most of the 16 major counterparts. It climbed 0.7% to $1.302 as of 10:40 a.m. in London, after approaching $1.3813, while the Euro rose 0.3% to 140.48 Japanese Yen.
The China's Yuan fell to the weakest level amid speculation the central bank will expand the currency's trading band, which allows greater variability in the second largest economy in the world, while the growth is sliding. The Yuan dropped 0.86% to the lowest level in ten months of 6.1808 against the Dollar. That was the biggest loss in CFETS since 2007.
European stocks expanded with the Stoxx Europe 600 Index that reached the highest level in a month since July, while U.S. stock-index futures and Asian shares almost unchanged. Serco Group Plc almost advanced to its one-year high after the new chief operating officer was named. The Stoxx 600 rose 0.2% to 337.91, the MSCI Asia Pacific stayed the same, while Standard & Poor's 500 Index