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Thu, 07 Mar 2013 13:07:03 GMT

Iron rallies but not for long, Morgan Stanley says

Iron ore price increased by 0.4% to $145.8 per dry ton Wednesday on the Steel Index in China. The price peaked at $158.9 on 20th of February and was the most expensive in more than one year period. However, investment banks Morgan Stanley and Deutsche bank say that price will face a bearish pressure, since the supply will drastically increase this year. According to estimations,

Thu, 07 Mar 2013 12:56:04 GMT

Australian Dollar appreciates on wider trade deficit

The Australian Dollar was higher by 0.2% to $1.0248 during Sydney trading session on Thursday. The currency rebounded after last week decline inspired by speculation that wider than expected trade deficit will not force the Reserve Bank to cut interest rates. The actual Australian trade deficit increased to 1.06 billion Australian Dollar in January.

Thu, 07 Mar 2013 12:45:03 GMT

Wall Street rises on U.S. job report on Wednesday

U.S. shares continued their rally during Wednesday session, as the U.S. manufacturing sector data stayed steady and surprisingly strong gains in the U.S. private employment brought optimism back to the markets. The Dow Jones Industrial average added 0.41% to 14,311.6, extending its record-breaking run, the S&P 500 rose 0.24% to 1,543.41 and the Nasdaq Composite went up 0.01% to 3,224.6.

Thu, 07 Mar 2013 12:34:04 GMT

Factory orders in the U.S. fall 2.0% in January

New orders for the U.S. manufactured goods declined notably in the month of January due to a substantial fall of transportation equipment orders, the Commerce Department reported on Wednesday. The report showed a 2.0% decrease of factory orders in the first month of 2013 following a 1.3% gain the month before, compared to a forecast of a 2.2% loss and

Thu, 07 Mar 2013 12:23:04 GMT

U.S. private sector employment increases in February

Employment in the U.S. private sector increased above economists' expectations in February, the Automatic Data Processing, Inc. reported on Wednesday. The report showed a gain of employment in private sector, which added 198,000 jobs in February after a January increase of 215,000 jobs, compared to estimated 173,000 jobs in addition to 192,000 initially forecasted for January.

Thu, 07 Mar 2013 12:12:04 GMT

Japanese Yen falls on U.S. job report

The Japanese currency depreciated against the U.S. Dollar on Wednesday, touching the lowest level since May 2010, as a report released by the ADP Research Institute showed more workers were hired by U.S. companies than was initially forecasted. The Yen fell 0.7% to 93.92 per U.S. Dollar and might decline further to its lowest level in almost four years at

Thu, 07 Mar 2013 12:01:03 GMT

Natural gas falls amid weather report on Wednesday

Natural gas futures traded on the New York Mercantile Exchange decreased, as a weather forecast showed that demand for the heating fuel might weaken after a winter storm brings temperatures down extremely. April natural gas futures dropped 1,4% to $3.479 per million British thermal units after reaching the highest level since January 23 at $3.529 on March 4.

Thu, 07 Mar 2013 11:50:03 GMT

The U.S. Dollar depreciated versus most of its major peers

The U.S. Dollar weakened for a second day versus most of its major counterparts, falling 0.1% to $1.3062 versus the Euro on 7:28 a.m. in London. In New York the Dollar depreciated 0.2% to $1.3052. The greenback decreased by 0.2% versus the Japanese Yen.  The Dollar Index contracted 0.1% to 81.990.

Thu, 07 Mar 2013 11:06:04 GMT

WTI oil is close to two-day low on U.S. data

WTI oil futures for April settlement were lower by 14 cents to $90.29 a barrel on the New York Mercantile Exchange during Singapore trading session on Thursday. Oil was traded close to a two-day low as data on the U.S. stockpiles increased five times more than analysts' estimation. Market prefers to sell oil, since it seems that demand is not likely to cover

Thu, 07 Mar 2013 10:55:04 GMT

Emerging market stocks decrease ahead policy meetings

The MSCI Emerging Markets Index dropped by 0.3% to 1,056.34 points by the mid-session in Hong Kong on Thursday. The index slipped from a two week-high leading by decrease in technology and consumer companies ahead of central bank meetings in Europe. Investors take a breath before news from Europe and Chinese trade data on Friday.

Thu, 07 Mar 2013 10:44:05 GMT

European equity futures are little changed ahead ECB meeting

The Euro Stoxx 50 Index futures are higher by 0.1% to 2,682 points in very early London trading session on Thursday. European investors traded on the Fed comments that the U.S. economy grew and were waiting for central bank meetings in Europe. According to economists, the ECB will keep the key interest rate unchanged at 0.75% level.

Thu, 07 Mar 2013 10:33:04 GMT

Dow hits record for a second straight day, as jobs report boosts confidence

U.S. equities edged higher on Wednesday, extending the Dow's highest level for a third consecutive day, as data showed firms added 198,000 workers the previous month, beating the analysts' estimates. In addition, Ben S. Bernanke, the Chairman of the Fed, said the nation's economy grew at a moderate pace on soaring consumer demand for houses and vehicles. The Dow Jones

Thu, 07 Mar 2013 10:22:03 GMT

Dollar index trade close to a 6-month high

The Dollar Index, constructed by Intercontinental Exchange Inc. to track the U.S. Dollar performance against the six U.S. partners, was higher by 0.2% to 82.472 points by midday in Tokyo on Thursday. Yesterday, the index reached 82.604 level, which is the highest point since 20th of August. The U.S. Dollar appreciates due to signs of improving domestic labour market and pressure to end monetary

Thu, 07 Mar 2013 10:11:04 GMT

Asian equity sinks after two day gain

The MSCI Asia Pacific Index was lower by 0.2% to 135.55 points by the midday in Tokyo on Tuesday trading session. The major region benchmark snapped last two-day gains, as Samsung announced investing to Sharp Corp. and Australia & New Zealand Banking Group said about plans to reduce jobs. However, the major Japanese stock index appreciated, as the Bank of

Thu, 07 Mar 2013 10:00:04 GMT

U.S. equities climb on better than expected jobs report

U.S. equities edged higher on Wednesday, as report showed companies hired more workers than expected and the Fed said the world's largest economy is expanding. The S&P 500 Index climbed 0.1% to 1,541.46. Five out of ten groups in the index edged higher. Big Lots Inc. jumped more than 6% to close at $35.97, as the Columbus-grounded retailer's report showed

Thu, 07 Mar 2013 09:49:03 GMT

Canadian Dollar slides on central bank comments

The Canadian Dollar, also known as the Loonie, was lower by 0.5% to 1.0320 per U.S. Dollar in the end of Toronto trading session on Wednesday. In a previous session the currency depreciated even more, declining by 0.7%, and today the domestic Canada's currency is at the weakest point against the U.S. Dollar. Traders were negative mainly due to the Bank

Thu, 07 Mar 2013 09:27:04 GMT

Coffee edges up on Central American crop concerns

Farm commodities were mixed on Wednesday, with softs advancing and grains declining. Softs found support on speculation about possible increase in Brazilian ethanol production and threat of coffee leaf rust in Central America. At the same time, improving weather conditions in the US put heavy pressure on grains. Wheat led losses, tumbling to a seven-month low as rain and snow improved

Thu, 07 Mar 2013 09:03:03 GMT

Heating oil inched up after EIA weekly report

Energy futures except for heating oil finished in red after bearish EIA inventory data. However, uncertainty whether the next president of Venezuela will use oil as a political weapon, like his predecessor Hugo Chavez, restricted the downward trend of the commodity complex. Crude oil slid after the EIA data showed inventories rose much more than expected last week. Stockpiles climbed 3.8

Thu, 07 Mar 2013 08:41:03 GMT

Zinc plunged despite solid demand from China

Industrial metals were bearish on Wednesday despite positive news from the US. The latest data showed US employers increased hiring more than expected last month. Moreover, on Tuesday, China left its growth target at 7.5%, boosting demand prospects for the commodity group. Aluminum sagged 1.16% after Sumitomo Corp. raised its forecast for the world's aluminum surplus to a two-year high, saying

Thu, 07 Mar 2013 08:19:04 GMT

Palladium soars amid robust car demand

Precious metals apart from platinum traded higher on Wednesday despite broadly stronger greenback after upbeat US jobs data. The commodity sector found support on talks the ECB and Fed will stick to their loose policies. Gold climbed amid robust physical demand from central banks across the globe and speculation that the ECB and Fed will continue their easing measures. However,

Wed, 06 Mar 2013 19:33:03 GMT

WTI oil advances from this year's low

West Texas Intermediate oil bounced off from the lowest level of this year on Tuesday, as U.S. shares advanced amid company earnings data and as the Federal Reserve decided to continue with its stimulus programme. WTI oil for April delivery increased 0.5% to $90.59 after it fell to its lowest level since December 24 on Monday to $90.12.

Wed, 06 Mar 2013 19:22:03 GMT

EU and Eurozone retail trade gains in January

The volume of retail trade added on a monthly basis 1.2% in the 17-nation bloc, while in the larger European Union it expanded by 0.9% in January, following respective 0.8% and 0.7% decreases in retail trade the month before, according to a report released by Eurostat. Year-on-year, the retail sales index declined by 1.3% in the Eurozone and dropped by

Wed, 06 Mar 2013 19:11:03 GMT

The U.S. non-manufacturing PMI fell to 55.2 in January

According to the Institute for Supply Management, the U.S. non-manufacturing PMI fell to 55.2 in January, following a recorded figure of 55.7 in December. The figure was matching the preliminary estimates and, still being in the positive ground, indicates expansion of the economy. Further forecasts expect a slide down to 55.0."The ISM survey signals that growth in the service sector

Wed, 06 Mar 2013 19:00:05 GMT

The Canadian Dollar reached its weakest level in eight months versus the U.S. Dollar

The Canadian Dollar reached its weakest level in eight months versus the U.S. Dollar after the Bank of Canada stated that in the nearest future it would not raise-up interest rates due to inflation, that is slowing more than it was expected. The loonie dropped 0.5% to C$1.0305 versus the greenback after previously depreciating 0.7%. One Canadian Dollar buys 97.04

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