Energy futures were mixed on Thursday amid firm US Dollar and weak numbers from the US job market. Comments by Mario Draghi that the ECB will stick to its accommodative monetary policy provided mild support for the commodity group. Crude oil moved lower on solid greenback and disappointing US numbers. However, slightly smaller-than-expected gain in the US crude oil inventories
Base metals ended Thursday's session in the negative territory as solid greenback put notable pressure on the commodity group. Weak numbers from the US labour market and increased caution ahead of China's trade data also dragged industrial metals lower. Aluminum was steady amid elevated LME inventories and hopes for solid demand from automobile producers. Meanwhile, expectations that production cuts by
Precious metals tumbled on Thursday after Mario Draghi said the ECB will maintain its loose monetary policy. He also added inflation is likely to fall below 2%, putting heavy pressure on the precious metals, which are traditional inflation hedges. Moreover, broadly stronger greenback and mixed US data pushed the commodity complex lower. Gold retreated after comments of Mario Draghi send the
U.K. stocks dropped halting their three-day gains this week after the European Central Bank decided to leave its benchmark unchanged pairing with BOJ's decision to not add further monetary stimulus for the nation's economic recovery. The FTSE 100 index slid 0.3%, or 18.67 points, to 6,276.67. However, the index has still gained 6.4% this year. Seven out of ten
German equities climbed as the ECB left interest rates unchanged and better-than-expected corporate earnings. The DAX index climbed 0.4% to 7,608.78 points. All but two sectors in the index edged higher with consumer goods rallying the most in the index. Among best performers were HeidelbergCement AG that surged 5.1% and Lanxess AG that advanced 4% to pace gains in basic
Hong Kong equities slid as investors took profits on mainland financial shares amid news Chinese Central Bank will switch from supporting growth to tackling inflation. The Hang Seng index tumbled as much as 0.3% to 23,177 points. All but two groups in the index edged lower. New World Development advanced 2.3%, the most in the benchmark gauge, followed by Tingyi
Most of the Japanese blue chips dropped, sending down the Nikkei 22 Stock Average from its highest level since 2008. The Nikkei 225 index slid 0.9% to 11,357.07. All but two groups in the index edged lower with consumer goods, technology and telecommunications pairing biggest losses, as they fell 1.57%, 1.57% and 1.42%, respectively. Nikon corporation led losses in
U.S. shares advanced as companies reported profits that topped the estimates overshadowing the concern on Eurozone's debt crisis. The Dow Jones Industrial Average rose as much as 7.22 points, or 0.1%, to 13,986.52. Six out of nine groups in the index advanced with the shares of consumer goods sector soaring the most. Among best performers was 3M Co. that rallied
Farm commodities apart from wheat extended previous losses on Wednesday as investors focused on Wasde report due out on Friday. Speculation that USDA will revise up its grain inventory forecasts created heavy pressure on the commodity complex. Wheat was the only gainer after weather forecasts showed rains expected this weekend are likely to miss the US main growing areas. However,
Energy futures were mixed on Wednesday after a release of the EIA crude oil inventory report. Ongoing concerns over political instability in Spain and Italy as well as caution ahead of the ECB policy meeting also weighed on energy prices. Crude oil retreated after the EIA report showed slightly smaller than expected increase in the US crude oil inventories. US stockpiles
Industrial metals were bearish on Wednesday ahead of the ECB press conference scheduled on Thursday and China's trade numbers due out on Friday. Meanwhile, worries over political instability in the Eurozone also weighed on the commodity group. Aluminum slumped despite hopes for stronger demand. The major aluminum producers predict an increase in aluminum usage in automobile industry. At the same time,
Precious metals except for palladium moved higher on Wednesday as caution ahead of the ECB press conference due on Thursday boosted safe haven appeal of the commodity complex. Gold climbed ahead of the ECB policy meeting scheduled on Thursday. Moreover, signs of strong physical demand continued to support the precious metal. At the same time, weak Eurozone's data as well
The Euro declined toward the lowest level in a week against the U.S. Dollar ahead of the ECB's meeting, at which policy makers will discuss banking and political tumult that threatens to renew the bloc's debt crisis. The common currency lost 0.4% to $1.3523 at 5 p.m. in New York and fell 0.4% to 126.63 yen after rising to 127.71,
U.S. equities advanced, halting their earlier declines, on better-than-expected profits that offset growing concerns over the euro-are falling into a debt crisis. The S&P 500 climbed 0.1% to 1,512.12. Six out of ten groups in the benchmark index edged higher. Among the best performing blue chip companies was First Solar that rose as much as 7.3% to $31.13 to cap
Most Asian stocks fell amid earnings concern as News Corp. and Nikon Corp. cut forecasts as well as Japan's Nikkei 225 Stock Average declined from the highest level in 4 years. The MSCI Asia Pacific Index slipped 0.1% at 3:06 p.m. Tokyo time. Australia's S&P/ASX 200 Index gained 0.3%, while Hong Kong's Hang Seng Index fell 0.1% and the Shanghai
The Chinese Yuan declined to a six-week low as the nation's central bank reduced its reference rate for a second consecutive day, boosting speculation it is willing to slow appreciation to support exports amid weakening Yen. The PBOC cut the fixing by 0.03% to 6.2898 per U.S. Dollar, the weakest since December 27. The Yuan lost 0.04% to 6.2340 per
South Korea's Won declined for a third straight day amid concern Japan will debase a value of its currency further, clouding outlook for Korea's exporters. The Won depreciated as much as 0.2% to 1,089.66 per U.S. Dollar at 10:13 a.m. in Seoul. The currency fell to 1,098.25 on February 1, the lowest level since October. One-month implied volatility fell 13
The Australian Dollar touched the lowest level since November as employment data did not show an improvement, which would rule out the central bank's further stimulus to prop up economy. The Aussie traded at $1.0315 as of 3:40 p.m. Sydney time, after earlier gaining 0.1%. Australia's currency declined 0.3% to 96.37 yen. The kiwi lost 0.4% to 83.61 cents and
European stocks extended their losses on Wednesday on disappointing results in the earning season pairing with political conflict between France and Germany over the single currency exchange rate. The DAX index dropped 0.1%, or 77.61 points, to 7,590.12 by 17:19 p.m. in Frankfurt. All but one group in the benchmark index inched lower. Merck KGaA paired biggest losses as it
U.K. equities stayed little changed, halting earlier gains on speculation the political instability in Italy and Spain might cause the euro area's sovereign –debt crisis. The FTSE index slid 0.1%, or 4.06 points, to 6,279.18 by 4:24 p.m. in London after earlier rising 0.6%. Four out of ten groups in the benchmark index declined with technology shares tumbling the most
Hong Kong stocks rebounded from their losses yesterday on strength in China Mobile shares. The Hang Seng index rose 0.5% to 23,256.9 points after falling as much as 2.3% on Tuesday. All but one group in the benchmark index surged at least 0.2%. AIA Group Ltd, a provider of financial and insurance services, rallied 2.7%, the most in the
Japanese equities advanced, sending the Nikkei 225 Stock Average to its highest level since 2008 on speculation Masaaki Shirakawa, the governor of BOJ, announced he will step down earlier than scheduled. The Nikkei 225 advanced 3.8% to 11,463.75, its highest level in more than four years. All ten groups in the benchmark jumped at least 2%. All ten groups
Rural commodities tumbled on Tuesday on weak demand for riskier assets amid political instability in the single currency union. Moreover, speculation that weather conditions in the US and Argentina may improve weighted on the grains. Ample global supplies also put pressure on farm commodities. Wheat sagged 0.72% on speculation that US inventories may be higher than predicted. US wheat stockpiles are
Energy futures were bullish on Tuesday on positive news from the US. US budget deficit is expected to fall to USD845 billion this year, according to the US Congressional Budget Office. However, market players remained cautious ahead of the EIA weekly report due on Wednesday. Crude oil climbed on the US deficit hopes. Meanwhile, analysts expect the EIA report to show