West Texas Intermediate crude futures continued to increase, while conflict in Syria has amplified an the world is expecting the reaction from U.S. WTI advanced 0.93% to $106.91 a barrel, as the contracts for October settlement jumped to $106.84 a barrel yesterday. The Brent crude stayed above the $111 a barrel level, rallying 0.65%.
Sentiment among companies in Germany advanced more than expected in August, however the 17-nation currency declined. The German business sentiment for August increased from 106.2 in July to 107.5, beating analysts expectations of 107.0. The common currency decreased 0.21% to $1.3340, following a jump of 0.04% to $1.3374.
Gold advanced to the highest level in over two months after a decrease in sales of bullion exchange-traded product and on political tension over Syria. Gold for immediate settlement increased 0.4% to $1,410.45 per ounce, while the December bullion contract rallied 1.2% to $1,410.20. Silver for immediate settlement dropped 0.1% to $24.2845 per ounce.
Italian five-year securities decreased for the third day, sending the yield to the highest point this month, as Italy prepared to auction 18.5 billion euros of notes this week. Italy's five-year bond yield jumped four basis points to 3.29% and the 3.5% security maturing in June 2018 plummeted 0.165 to 101.045, while the 10-year yield jumped two basis points to
U.K. government gilts increased on speculation the Bank of England Governor Mark Carney may confirm tomorrow his intention to keep borrowing costs at the record low. The 10-year U.K. bond yield declined seven basis points to 2.64% and the 1.75% bond maturing in September 2022 jumped 0.57 to 92.875.
Shares in Europe continued losing, with equities mostly ignoring German business indicator, while Increasing concerns over troubles in Syria overshadowed the IFO Business Climate data release. The pan-European Euro Stoxx 50 lost 1.61% to 2,776.09 at 8:22 a.m. GMT, while the Germany's Dax slid 1.47% to 8,311.56. The French CAC 40 reduced 1.44% to 4,008.65 and the UK FTSE 100
Oil prices soared on Tuesday as the Syria situation became worse and international military intervention is feared in the country, threatening large-scale supply disturbances from the Middle East. Iraq said it has reduced Kirkuk crude oil outbound shipment by over 50% in September. Futures of North American blend advanced on New York's Nymex from 0.25% to $106.19, while the European
Treasuries cut a three-day rise prior to reports on home prices and GDP, that may contribute to the case for the Fed to reduce stimulus next month. The U.S. 10-year yield was stable at 2.79% as of 6:36 a.m. London time, the price of the 2.5% August 2023 note lost $0.31 per $1000 face value, to 97 16/32. The U.S.
China's stocks fluctuated between losses and gains. Industrial companies advanced, when a report showed that profit growth gathered speed, while phone and shipping companies fell. The Shanghai Composite Index soared less than 0.1% to 2,096.67 at 2:06 p.m., while the CSI 300 Index dropped 0.3% to 2,329.86. The profit growth for industrial companies stepped up from 6.3% in June, to
Canadian currency lost against its major peers as speculations on when the Fed decreases the monetary stimulus pace in the U.S. caused weighing on riskier assets. The loonie fell 0.2% to 1.0515 Canadian dollars per U.S. Dollar as of 10:11 a.m. New York time, following a drop of 0.4% to 1.0533 on August 23. Canada's government bonds advanced, sinking the
The U.S. currency declined versus the 17-nation currency, as the data on durable goods orders indicated the measure fell in July amid a decrease in the transportation sector. The greenback retreated 0.06% to $1.3382 against the Euro and slipped 0.15% to $1.5589 against the Sterling, and plummeted 0.32% to 98.35 versus the Yen.
Asian shares advanced for the second day as U.S. home sales declined and curbed the case for the Federal Reserve to cut bond purchases next month. The MSCI Asia Pacific Index climbed 0.1% to 131.46. Japanese Topix index dropped 0.1% and Australian S&P/ASX 200 gained 0.2% and New Zealand's NZX 50 Index rallied 0.5%.
Silver prices advanced over 1%, following disappointing U.S. home sales report, which provided sins that U.S. economy may not have grew enough for the Fed to star tapering next month. Bullion failed to maintain its previous jumps, ignoring supply worries in South Africa and inflows into old funds. Silver futures increased 0.75% to $23.920, while Gold contracts declined 0.15% to
Italian government bonds decreased for the second day ahead of the Euro block's largest sovereign-debt market auctions bonds this week. Italy's 10-year bond yield jumped six basis points to 4.39% and the 4.5% note maturing in May 2023 slipped 0.495 to 101.215. Italy will sell securities worth of 4 billion euros tomorrow.
The New Zealand currency rallied versus the U.S. counterpart, halting a fie-day plummet to release its first monthly fall since the end of the first quarter. The New Zealand Dollar appreciated 0.56% to $0.7830 versus the greenback. Orders for durable goods are forecast to have declined 3.6% in July, following a 3.9% increase in June.
Soybeans rallied the most since 2011 as Midwest's dry weather threatened to reduce harvest in the U.S. Corn advanced to one-month high and wheat climbed. The oilseed soared 4.9% to $13.964 a bushel and traded at $13.815 as of 10:33 a.m. London time. December corn added 4% to $4.89 a bushel while December wheat gained 2.2% to $6.60 per bushel.
Crude futures were set higher as investors, amid disappointing U.S. home sales report, now await the federal Reserve to maintain its bond purchases unchanged till December. The October WTI contract increased 0.36% to $106.84 per barrel and Brent futures advanced 0.10% to $111.16, while countries of the West provided clues on more assertive approach versus civil war-struck Syria.
Treasuries declined, cutting a two-day increase, ahead of a report that is expected to indicate an advance in big-ticket item orders other than transportation equipment. The U.S. 10-year bond yield jumped to 2.83% and the 2.5% security maturing in August 2023 dropped to 97 5/32. U.S. is set to auction two-, five- and seven-year bonds total worth of $98 billion this
Gold fluctuated between gains and losses, following an advanced to the highest figure since June, while investors weighed the prospects for QE measures in the U.S., with a decline in new-home sales. Bullion for immediate settlement jumped 0.7% to $1,407.18 per ounce, the highest level since June 7, head of falling 0.5%. The December gold contract rallied 0.8% to $1,407.
European shares remained steady as investors expected U.S. durable-good order report. The Stoxx Europe 600 Index increased less than 0.1% to 304.79, adding to signs the index has jumped 9% this year. Royal KPN NV inched up 2.4% as American Movil SAB shareholders agreed to sell its German company to Telefonica Deutschland Holding AG.
Economic sentiment in the Euro block probably advanced to the highest point in 17 months this month, adding to case that Euro area's recovery is improving from a record-long recession. The economic confidence index increased from 92.5 last month to 93.8 in August, while unemployment rate probably remained at a record high of 12.1 % in July.
The greenback maintained a weekly fall versus the Euro, while investors speculated over whether the U.S. economy has grew enough for the Federal Reserve to start stimulus tapering next month. The U.S. Dollar remained steady at $1.3383 versus the Euro and was at 98.58 against the Yen, while the common currency touched 131.92 versus the Yen.
The 17-nation currency traded steady versus the U.S. Dollar, fluctuating around $1.3880, after the Euro jumped from $1.3330 in the last session on disappointing U.S. home sales report. The common currency remained flat at $1.3366 against the U.S. Dollar, while fluctuating around Friday's close against the Sterling, buying at 0.8587.
U.S. stocks plunged after the strongest advance in the S&P's 500 Index in three-week time, as sales of new homes declined most in three years. The S&P 500 gained less than 0.1% to 1,655.95 as of 10:22 a.m. New York time, while the Dow Jones Industrial Average declined 0.1% to 14,949.18.