On Tuesday, futures for copper were falling during European morning trading session, as investor sentiment was influences by recent pessimistic data from China, which is the largest consumer of the commodity. On the Comex, May delivery futures were traded at $3.509 per pound, which was a 0.25% daily loss.
On Tuesday, futures for the precious metal were growing during US morning trading hours, almost reaching a 2-week high, as the commodity broke through a resistance level. On the Comex, April delivery futures for gold were traded at $1,593.10 per troy ounce, which was a gain of 0.95% during the day.
The Italian statistical office reported on Tuesday that EU harmonized index of Italian inflation was equal to 2% last month, compared to figure of 2.4% in the preceding month. The reading was unchanged from the first estimate and in line with expectations. Month-over-month, the price index fell by 0.2%.
U.K. shares surged for a fourth straight day with FTSE 100 Index extending its highest level in five years. The FTSE 100 climbed 0.3%, or 26.51 points, to 6,522.83 by 4:34 p.m. in London. Basic materials posted biggest gain among all ten groups in the gauge, as Kazakhmys Plc rallied 5.8% for the biggest rise on the benchmark FTSE 100.
Consumer prices in Sweden fell 0.2% on an annual basis in the month of February staying at the same level from the month before, a report released by the Statistics Sweden showed on Tuesday. The report also said the consumer price index added 0.4% on a sequential basis the same month, while the core inflation rate stayed at a figure
Hellenic Statistical Authority revealed on Tuesday that industrial production in Greece continued its streak of declines for the third month in a row. In January, industrial output showed a fall of 4.8% on a yearly basis, compared to a significantly slower decline of 0.9% in the first month of the year.
Statistics Portugal reported on Tuesday that EU harmonized inflation decreased its pace in Portugal last month. The consumer price index was 0.2%, compared to reading of 0.4% for the preceding month. Analysts, however, expected a slightly higher price growth of 0.3% in February.
Statistics Portugal revealed on Tuesday that the country's exports increased significantly in January. Goods exports added 5.6% on a yearly basis and reached the absolute level of 3.83 billion euros, compared to a reading of minus 2.9% in the preceding month. Imports, on the contrary, decreased by 6.9%.
Industrial and manufacturing output in the U.K. fell surprisingly in January suggesting the country's economy is still struggling and may fall deeper into depression in the Q1, the Office of National Statistics reported on Tuesday. Britain's industrial output dropped 1.2% on a monthly basis in January following a 1.1% drop the month before.
Industrial production in India advanced for the first time in a three-month period in the month of January mainly due to a rebound in manufacturing production, the Central Statistics Office reported on Tuesday. Year-on-year, industrial output added 2.4% in January and reversed a 0.5% drop recorded in December, while economists expected a 1.3% increase.
Spain's economy leading index advanced for the fifth month in a row in January mainly driven by the country's contribution to Euro M2, a survey by the Conference Board showed on Tuesday. A leading economic index added 0.7% on a monthly basis to 105.2 in January after a 0.8% gain in December, while the current situation economic index fell 0.4%
The U.K. inflation gauge advanced to its highest level in 4 ½ years on Tuesday amid speculations that the Bank of England will loosen its monetary policy and add more quantitative easing in order to sacrifice its inflation target at 2% level. The central bank's benchmark interest rate has been on its record low at 0.5% since March 2009, however,
Current account deficit of South Africa decreased from ZAR 215 billion in the Q3 to ZAR 212.6 billion in the last three months of 2012, the report released by the South African Reserve Bank showed on Tuesday. The current account deficit for the whole 2012 was 6.3% of gross domestic product compared to 3.4% the year before, while the trade
The Office for National Statistics reported on Tuesday that British trade deficit of goods narrowed in the first month of the year. The deficit declined to the reading of 8.2 billion Pounds in January, compared to a December's figure of 8.7 billion. Analysts, however, predicted that there will be a growth of trade deficit in January. ‘More effective action is needed
The Canadian Dollar was slightly lower to 1.0265 per the U.S. Dollar in the morning of Toronto trading session on Tuesday. Analysts say, that investors might be closing positions opened on Friday, as the labour data was announced in Canada and the U.S. and indicated a strong improvement in both countries. Noticeable changes in the unemployment level should lead to faster economic
Hong Kong stocks declined on Tuesday, as early gains were snapped by profit taking and rising concerns from investors that the government might launch more severe measures to curb the soaring cost of living. Hang Seng lost 0.9%, or 200.22 points, to 22,890.60. All sectors in the index dropped. Esprit Holdings Ltd added to losses in consumer services with a
Japanese stocks declined on Tuesday, tumbling down from its 19-month high after a technical indicator showed the market is too overheated. Nikkei 225 lost 0.3% today to close at 12,314.81 points. Technology and telecommunications shares rose the most by 1.2% and 0.7%, respectively. TDK Corp surged 5.4% to 3,415 yen and posted the biggest surge among all blue chip companies.
The Australian Dollar, also known as the Aussie, was 0.2% higher to 99.14 per the U.S. Dollar in the end of Sydney trading session on Tuesday. The Japanese Yen depreciated against the Aussie and the New Zealand Dollar, as the Bank of Japan said that more decisive monetary policy is needed to sustain a domestic economic growth.
The MSCI Emerging Markets Index declined by 0.2% to 1,061.59 points by midday trading session in Hong Kong on Tuesday. Emerging stocks depreciated for a second straight session, as South Korea's and China's companies performed negatively. The Won gained 0.3% against the Yen and reduced South Korea exporters competitiveness against Japanese counterparts.
The MSCI Asia Pacific Index edged lower by 0.4% to 136.01 points in the end of Tokyo trading session on Tuesday. The gauge slipped from a 19-month peak, as Chinese stock market extended loss. Analysts say, that market has to take a breath before rising higher, thus a short-term pullback is possible. Also, an Asian equity is traded at the
Soybeans futures for May settlement slipped by 0.7% to $14.69 per one bushel on Chicago Board of Trade during Singapore trading session on Tuesday. The commodity declined from the highest level in last month on signs that demand for U.S. production might decrease, as Brazil expands its harvest and set to be the biggest exporter this year.
The South Korean Won was higher by 0.1% to 1,094.30 per the U.S. Dollar in the beginning of Seoul trading session on Tuesday. The currency touched 1,102.65 level yesterday and that was the weakest Won since October. Markets are concerned about North Korea's position to increase military readiness, as the annual South Korea's and American war games started yesterday.
The British Sterling dropped 0.1% to $1.4899 in very early London trading session on Tuesday, after a slide to 1.4866 yesterday, what was the lowest level since June, 2010. The Pound depreciates for a fifth straight day versus the U.S. Dollar and investors wait for the U.K. data on manufacturing output in January, which should be unchanged, according to analysts.
British manufacturing production contracted in January at the highest level since June 2012, raising awareness that the economic crisis will be back if activity will continue to shrink in current quarter. Manufacturing output fell 1.5% in January in comparison with December. The industrial production, that includes mining and quarrying, electricity, gas and water supply, dropped 1.2% from December. "With the February