U.S. equities gained, boosting up the S&P's index for a second day, as today voters decide on the nation's next president. The S&P 500 gained 0.4% to 1,422.24, the Dow Jones Industrial Average surged 0.5% to 13,180.94, while the S&P has rallied 13% throughout the year after central banks started implementing monetary stimulus.
The Dollar weakened against most of its main counterparts ahead of the U.S. presidential election. The Dollar lost 0.1% to 80.24 per yen and was little changed against the Pound. The U.S. main currency advanced 0.1% against the Euro and traded at $1.2810 per euro after reaching $1.2764, the highest level in almost 8 weeks.The Dollar Index, which is the
Eurostat reported on Tuesday that producer price inflation held still in September, in compliance with analysts' expectations. Month over month, producer prices advanced by 0.2% compared to growth of 0.9% in August. Year over year, producer prices increased by 2.7% in September, whereas economists expected that the index would witness a slightly lower reading of 2.6%. In August, producer prices inflation
State Secretariat for Economic Affairs reported on Tuesday that confidence among households in Switzerland held still last month. The SECO consumer confidence index was equal to minus 17 points during the period ended in October 2012, which was unchanged from the figure for the period ended in July 2012. While economists expected that the index would witness a reading of
U.K. manufacturing advanced less than expected in September on a decrease in machinery and chemical production, showing that the economic recovery is losing its momentum. According to the Office for National Statistics factory output gained 0.1% from August, underscoring the economists' gauge of 0.4%. The industrial output lost 1.7% amid a drop in gas and oil output. Six out of 13 manufacturing categories shrank. A rise was
Agricultural commodities excluding wheat plunged on Monday as traders turned their attention to the presidential elections in the US. Meanwhile, anticipation of the USDA crop progress reports that was due after Monday's close also pressured farm commodities.Wheat was the only gainer as US winter crop deteriorated last week amid dry weather and abnormally high temperatures in the US top-planting regions.Corn
Energy futures except for natural gas moved higher despite broadly stronger US Dollar and escalated uncertainty ahead of looming presidential elections in the US. Capping the upswing, demand for oil futures is expected to slow down as refineries in the US Northeast remained closed after Hurricane Sandy.Crude oil added almost 1% despite mounting demand uncertainty. Experts claim that US refineries
Industrial metals plunged on Monday as investors focused on the US presidential elections due on Tuesday. Moreover, weaker-than-expected data from the US and UK services sectors weighted down on the market sentiment. Investors were also cautious as Greece is set to vote on new round of austerity measures to secure the next tranche of the bailout.Aluminum retreated on mounting uncertainty
Precious metals apart from platinum were bullish on Monday ahead of the US presidential elections due on Tuesday. Meanwhile, investors were also cautious as Greece parliament is preparing to vote on fresh austerity measures on Wednesday.Gold rebounded on stronger demand for safe-haven assets amid elevated market turbulence ahead of the US elections.Silver climbed, following gold's suit. However, the upside was
The FTSE 100 Index was up by 0.5% to 5,865.19 in early London trading hours on Tuesday. That was the third time in last four days, as U.K. equity markets advanced, awaited the final outcome of the U.S. presidential election. Also, investors keep focus on the Bank of England and the ECB decisions on the key interest rates and the U.K. monetary policy future
The euro hit a two-week a low against the greenback on the uncertainty about Greece and its budget reforms. The single currency dropped 0.2% to $1.27635 touching its lowest level in 2 months and staying far below its $1.3179 high in September. Latest decrease prompted euro to keep within a trading range $1.27635 - $1.31729. The experts say investors are losing their optimism in resolving
The Pound was 0.2% higher to 79.95 per Euro in a very early London trading session, advancing for a fifth consecutive day. The Sterling has reached the highest exchange rate in five weeks against the European Union currency ahead the Bank of England meeting, where the decision on a domestic quantitative easing policy should be taken. Today's economic reports announced negative data, as house prices
According to Halifax, house prices in the United Kingdom fell 0.7% in October compared with the previous month and the average price reached 158,426 pounds and that was a four consecutive month of real estate price depreciation. Great Britain's property market stays under pressure, as the domestic economic outlook is uncertain and reduces the consumers' confidence. Also, banks lower lending volumes to strengthen their financial situation
Crude oil future price for December supply was only 4 cents higher at $85.69 during Asia trading hours. However, oil can't find a direction after yesterday's 79 cents gain, which lifted the price from the lowest point since 10th of July. Investors' sentiments are mixed, as the U.S., the largest crude consumer, resumes oil delivery on the East Coast after super storm Sandy and just
Germany's two-year notes gained for the fifth consecutive day as economists forecast a report to show factory orders in the nation decreased in September. The yield on two-year note fell 0.01 percentage point to -0.014 percent, meaning the investors will yield less than they paid for the securities. The zero percent security maturing in September 2014 increased 0.01, or 10 cents per 1,000-euro face
Gold spot showed small changes in Singapore trading hours on Tuesday, as price was at $ 1,684.85 an ounce. However, the price has rebounded from yesterday's $1,672.75 level, which was the lowest point since 31st of August. Investors are concerned about the U.S. presidential election, as the new president might change U.S. monetary and fiscal policy in the next four years in the world's
Contracts on European stock-index gained on today's presidential election. Euro Stoxx 50 Index futures surged 0.2% to 2,520, while futures on U.K.'s FTSE 100 Index rallied 0.2%. Investors are staying on the sidelines until the new president is elected to be sure of the future political scene. Other data, such as leadership change in China and decisions on the interest rates from BOE and ECB,
Copper advanced by 0.8% to $7,707.5 a metric ton in early London trading session on Tuesday. Yesterday copper touched the lowest point since 5th of September, as the price was $ 7,596. According to analysts, traders decrease their risk tolerance level, as the U.S. election is just ahead a finish line and the major economic data from China is coming out this week.
Asian stocks fluctuated on low trading volume as investors awaited the U.S. presidential election results. The MSCI Asia Pacific Index climbed 0.2% to 122.54, after falling earlier 0.3%. Japan's Nikkei 225 Stock Average dropped 0.4%, while South Korea's Kospi rose 1.1% and Taiwan's Taiex Index gained 1.1%. Australia's S&P/ASX 200 Index climbed 0.2% and Hong Kong's Hang Seng Index lost
The Japanese Yen appreciated versus most of the major counterparts as Japanese stocks declined on concern Greece will struggle to secure bailout funds and ahead of U.S. presidential elections. The Yen gained 0.4% to 80.05 per U.S. Dollar at 2.37 p.m. in Tokyo from yesterday, after fetching 79.96. It climbed 0.4% to 102.36 per euro, after rising 0.9% in the
The Canadian Dollar fell from almost one-week high as risk appetite shrank on the U.S presidential elections and on concern Greece's fiscal problems will deepen the eurozone debt crisis. The loonie fetched 99.64 cents per U.S. counterpart after falling to 99.77 cents. It rose earlier to 99.41 after touching 99.22 cents on November 2, the strongest since October 25.
The Australian Dollar touched a one-month high after the RBA unexpectedly held the interest rate unchanged at 3.25%. The Aussie Dollar climbed to $1.0435, the strongest level since September 28, before fetching $1.0426 at 4:04 p.m. in Sydney, 0.6% higher than the yesterday's close. The New Zealand Dollar reached 82.66 U.S. cents from 82.52.
The Institute for Supply Management's non-manufacturing index declined by 0.9 to 54.2, but remained above 50 mark which separates contraction and expansion states of the industry. At the same time service sector employment reached seven month high after last weeks employment numbers pointed at stronger US labor market. Specialist stress out that companies like Macy's and Kohl's will benefit from increased employment while home-builders will
After last weeks advance of S&P 500 Index, US stocks declined as Americans prepare to vote in the presidential elections and concerns that Greece might not win a bailout have arisen again. Both, S&P 500 and Dow Jones Industrial Average, slid by 0.1% while trading volume in S&P 500 was one fifth below the 30 trading days average. KBW Inc.