The Franc fell to the lowest level in five weeks against the Euro as euro-zone's authorities approved financial aid to Greece, which reduced demand for safe-heaven assets. The Swiss currency slid 0.4% to 1.24544 per Euro, while it also dropped 0.5% against the U.S. Dollar to 96.83 centimes per greenback. The Switzerland's central bank still maintain a limit above which
Share prices jumped around the world on profit expectations as Alcoa started earnings season in the U.S. with better-than-expected results. The MSCI All-Country World Index jumped 0.5% to 361.24 so far today, while future contracts on S&P 500 Index increased 0.4%. The Stoxx 600 Index soared 0.6%.
Manufacturing in the U.K. fell as pharmaceuticals and metal producers' output decreased, falling short of experts' forecasts. Factory production dropped 0.8% in May, while economists predicted an increase of 0.4%. This data suggests that economic recovery in the U.K. might be weaker than previously expected as industrial output increased only 0.2% in the last 3 months.
West Texas Intermediate was trading near its 14-month high ahead of report forecast to indicate U.S. Crude supplies declined for the second week, and as unrest in Egypt boosted worries that Middle Eastern overseas sales may be stopped. The August WTI contract was at $102.97 per barrel and Brent for August settlement declined to $107.16 per barrel.
The Pound declined to the lowest point in almost 4 months as data showed that U.K. manufacturing shrank in May, falling short of expectations. The Sterling dropped against its major peers. The data showed that factory output decreased 0.8%, while experts predicted a 0.4% rise. The currency dropped 0.4% to 86.44 pence per Euro and to 1.4892 per U.S. Dollar.
Industrial output in the U.K. remained steady in May from April, and manufacturing production declined more-than-expected by 0.8%. Economists predicted that industrial production will advance 0.2% in May following a decline of 0.1% in April. On annual basis the industrial output retreated 2.3% on 2.9% decline in manufacturing and 3.5% fall in mining and quarrying production.
The South Korean Won advanced the most in over five months on bets South Korean overseas sellers took advantage of the two-day fall in the Won to repatriate earnings from abroad. The South Korea's currency inched up 0.9% to 1,141.73 versus the U.S. Dollar, the largest increase since February 4, and the yield on the 2.75% notes maturing in June
European shares advanced for a second day in a row as Alcoa Inc. began the U.S. earnings-reporting season and the data have beaten the analysts' estimates. The Stoxx Europe 600 Index added 0.5% to 293.81 as of 8:06 a.m. London time; moreover, the equity-benchmark gained 1.4% on Monday and it advanced 1.2% previous week.
The 17-nation currency appreciated for a third straight day versus the Japanese Yen as European Union finance ministers have a meeting in Brussels. The Euro gained 0.4% to 130.46 Yen as of 8 a.m. in London, while it advanced 0.2% to $1.2894. The shared currency has climbed 4.6% this year to date, making it the second-best performing currency.
Japan's stocks inched up, and the Topix index set for the highest level in six weeks, as overseas sellers increased on a lower Japanese Yen. Banks climbed on the data they may withstand an increase in interest rates. The Topix jumped 1.2% to 1,186.56, adding to signs the index rose 12% in three weeks, the biggest gain since April 2009.
The Loonie was at the lowest level in almost two years after Canada's central bank released data that showed a drop in Canadian sales and investment optimism in the year's second quarter. The Canadian Dollar advanced 0.2% to C$1.0558 per U.S. Dollar as of 5 p.m. Toronto time, it reached C$1.0609 per U.S. Dollar last week, the lowest in almost
Asian shares advanced, and the regional equities gauge heading towards recovery from its largest fall in two weeks, as a declining Yen sent Japan's Topix index to the highest level in seven weeks and industrial companies increased. The MSCI Asia Pacific Index jumped 1.5% to 131.38, the biggest decline since June 24.
The U.S. Dollar jumped versus the Japanese Yen as traders boosted bullish bets on the U.S. Dollar amid bets the Federal Reserve will provide information about tapering bond purchases. The greenback inched up 0.3% to 101.29 against the Yen, after reaching 101.53 yesterday. The U.S. Dollar declined 0.1% to $1.2881 versus the 17-nation currency.
The British currency was little changed against the greenback ahead of the industrial production data that are expected to show increase in May, according to economists. The Sterling was at $1.3963 at 7:42 a.m. in London after slipping to $1.4858 on July 5, the weakest since March 12. The British Pound traded at 86.12 pence per Euro after falling to
The Aussie dropped versus almost all of its most-traded peers on concern that faster China's inflation could influence exports to world's second biggest economy. The Australian currency depreciated 0.1% to 91.25 U.S. cents at 3:00 p.m. Sydney time from Monday, when it rose 0.7%, the most in more than a week. The Kiwi traded at 78.03 U.S. cents.
The Stoxx Europe 600 gauge increased 1.4%, pushing demand for the Krone. The currency advanced 1.8% to 6.1417 per Dollar as of 4"35 p.m. in London, the greatest increase since September. The Krone also strengthened 1.4% to 7.9063 per Euro. It soared versus the Swedish Krona after data showing Sweden's manufacturing is worsening.
Developing nation stocks declined for a second straight day, bond yields soared an India's currency dropped amid speculation the Federal Reserve will curb its bond-purchasing programme. The MSCI Emerging Markets gauge fell 1% to 908.82 as of 10:52 a.m. New York time. Emerging-market stocks lost 2.4% last week when U.S. jobs report showed better than expected results.
The Sterling appreciated from almost the lowest level in four months versus the greenback before tomorrow's reports on U.K. industrial output. Economists expect data will show industrial output rose in May, signaling the country's accelerating pace of recovery. The currency advanced 0.3% to $1.4927 as of 1:51 p.m. in London. It rose 0.1% to 86.13 pence per Euro.
West Texas Intermediate crude declined from the highest in 6 months after Egypt's officials announced that traffic through the Suez Canal, one of the main crude waterways, is secure. Despite unrest in Cairo, 55 tankers are planned to pass the Suez Canal. WTI for August settlement fell 0.7% to $102.52 a barrel as of 9:53 a.m. on the New York
The British currency reached the lowest level in almost a year on bets that the Bank of England will leave monetary stimulus unchanged. The Pound depreciated less than 0.1% to 86.21 pence per Euro as of 12:01 p.m. in London after falling to 86.33 last week, the lowest level since April 17. The U.K.'s currency was at $1.4907 after declining
German 10-year government bunds remained steady as data indicated industrial output in Germany retreated more than economists expected in May. The bund yield was at 1.72% and the two-year bond yields were at 0.10%. Production declined 1% in May and economists predict that it will continue falling.
U.K. shares gained, following their biggest one-week advance in one and a half year, as investors awaited the unofficial start of the U.S. earnings season. The FTSE 100 Index gained 1.2% to 6,453.96 as of 8:48 a.m. London time; moreover, the equity-benchmark rose 2.6% previous week. The FTSE All-Share Index also climbed 1.2% today, while Ireland's ISEQ Index added 0.7%.
Stocks in Switzerland rose following two weeks of gains as the U.S. earnings season is about to begin. Transocrean Ltd. and Cie Financiere Richemont led the gains, both climbing 2%. The Swiss Market Index increased 1.1% to 7,867.11 so far today, while the Swiss Performance Index rose 1.1% as well. The SMI jumped 1.3% last week.
The Turkish Lira rebounded after the central bank engaged in a monetary tightening, where it sold $500 million in an auction. The currency jumped 0.8% to 1.9527 per U.S. Dollar so far today. The central bank already sold $2.9 billion since June 11 in order to curb depreciation, but added that the intervention is temporary. The Lira has lost 8.7%