Gold prices rebounded after touching their lowest level since mid-June in the former session, as investors stood undecided before the U.S. presidential election. Spot gold advanced 0.4% to $1,682.66, after touching its 9-week low of $ 1,672.24, whereas U.S. futures on gold for December gained $7.50 to $1,682.70. Friday, gold prices lost around 2% on the rise in the greenback and reduced pressure on
The Pound lost against 13 of its 16 main peers as U.K. report showed worse-than-expected services growth in October. The Pound declined 0.3% and traded at $1.5977 following the loss of 0.2% on November 2. The Bank of England officials will meet on November 7-8 to take a decision whether to raise fiscal policy using quantitative easing for the first
German stocks are trading lower on Monday ahead of the US presidential elections due on Tuesday. Disappointing data from Spain also created heavy pressure on German blue chips. Spain's Employment Ministry announced that the number of people without job soared by 128,200 last month, confronting expectations for a rise of 90,500. The DAX Index sank 0.52 and is currently trading
UK equities are trading lower on Monday as investors remain cautious ahead of the US presidential elections due on Tuesday. Weaker-than-expected UK services PMI reading also added to losses of the equities. Moreover, worrying signals from Spanish labour market pushed UK shares lower. The FTSE 100 Index shed 0.46% to trade at 5,841.43. Only three sectors in ten within the
Hong Kong shares moved lower on Monday amid increased cautiousness among traders ahead of the US presidential elections due on Tuesday. Limiting the downswing, US non-farm employment rose more than expected in October while manufacturing contraction in the eurozone slowed last month. The Hang Seng Index shed 0.48% to close at 22,006.40. Only two sectors included in the index inched
Japanese equities retreated on Monday amid mounting uncertainty over presidential elections in the US. However, recent strong data from the US labour market coupled with slower Yen appreciation were supportive for Japan's blue chips. The Nikkei 225 Index moved lower by 0.48% to close at 9,007.44. Oil and gas firms as well as consumer goods were the only two sectors
Dow plunged in a volatile trading session on Friday as investors fled to save-haven assets ahead of the US presidential elections due next week. However, upbeat job reports from the national economy coupled with better-than-expected PMI releases from the eurozone limited the upswing of the US blue chips. The Dow Jones Industrial Average Index sank 1.05% to end the week
US stocks ended the week in the negative territory despite positive data from national economy. US non-farm payrolls climbed more than expected last month, indicating that the country's labour market is recovering. At the same time, market sentiment came under heavy pressure as traders turned to safe-haven assets ahead of the US presidential elections due November 6. The S&P 500
Chinese equities declined after 5 days' advance on ambiguous data on China's service industry and the leadership congress of Communist party. The Shanghai Composite Index (SHCOMP) eased 0.1% to 2,114.03, whereas the HSBC Holdings Plc and Markit economics' released services purchasing managers' index fell from 54.3 in September to 53.5 in October. Experts say investors tend to avoid risk because of uncertainty about the leadership
Sentix, a market research group, reported on Monday that investor confidence in Eurozone improved in November more than expected. Sentix index of investor confidence advanced to minus 18.8 this month from a figure of minus 22.2 last month. Economists, however, expected that the index would improve only to minus 20.0.
On Monday, Spain's Labour Ministry reported that Spanish jobless claims rose last month, as the recession in the country continues. Spanish unemployment advanced by 128,242 people in October, which was a 2.7% gain, and reached a total level of 4.83 million. Economists, however, expected a more moderate growth of 90,300. The National Statistics Institute said that unemployment rate among people who
U.S. stock markets futures were little changed on Monday, November 5, as investors were cautious ahead of Tuesday's tightly fought U.S. election and Greece government is going to present a new austerity package to the parliament. The Dow Jones Industrial Average rose 0.07%, to 13,000; the Standard & Poor 500 Index fell 0.01%, to 1,405.30, while Nasdaq-100 futures added 0.04%, to 2,642.0.
The Markit/CIPS Purchasing Managers' index of the service sector underscored analysts' estimates and slumped to 50.6 in October compared to a reading of 52.2 in September. The index touched the lowest level since December 2010 staying close to the 50 line that determines growth from tension. The service providers repeatedly declined employment in October. Paring with shrinkage in manufacturing, the data strongly contrasts with the economic
Australian dollar appreciated against its 16 major trading counterparts before tomorrow's policy meeting of Reserve Bank, and on better-than-expected retail sales results. Demand for the currency was fostered by investors bidding higher on assets before the U.S. elections. The Aussie surged 0.3% to $ 1.0367, and advanced 0.3% to 83.34 yen. The CBA forecasts that Reserve Bank will reduce borrowing costs by 0.025 percentage point
The British pound reached a five-week high versus the Euro as report might show the U.K. services industry grew. The currency advanced for the fourth consecutive day on expectations for the upcoming two-day meeting of BOE to decide in favor of adding more monetary stimulus. Sterling surged 0.1% to 79.78 pence per euro, exceeding its previous high of 79.86 pence on Oct.2.
European shares tumbled on concerns Greece might fail to secure the bailout and tomorrow's elections in the U.S. The Stoxx Europe 600 dropped 0.4% to 273.77, prior to that, S&P's 500 index extended its loss and stood at 0.9% on Friday. Siemens AG eased 0.8% on additional costs that might occur to quit its solar business, whereas CGGVeritas plunged 2.1% as their earnings underscored analyst
Treasuries advanced from their last week's low as service sector in the U.S. and non-manufacturing industries in China are forecast to expand in October. The yields on 10-year bonds rallied and stood at 33 basis points on the presidential elections tomorrow. Meanwhile, the yields on 10-year notes in the U.S. were 1.71%, and the price for 1.625% note held at 99 7/32. The yield is expected
Farm commodities were mixed on Friday, with softs climbing and grains retreating. Broadly stronger US Dollar created pressure on rural commodities. At the same time, mounting uncertainty over crop conditions in Brazil lifted coffee and sugar futures.Wheat moved lower despite strong support from worries over global supply disruption. Ukraine's agriculture minister announced on October 24 that the country would ban
Energy futures were bearish on Friday as refineries at the US East Coast resumed operations after being shut down in wake of Hurricane Sandy. Moreover, looming US elections and stronger greenback created additional pressure on the commodity group. Crude oil plunged on mixed signals from the supply side. US refineries are restarting operations after Hurricane Sandy while US crude oil
The 17-nation currency fell to the lowest level in one month on concern Greece will not secure bailout funds, putting its future in the Eurozone at peril. The Euro touched $1.2815, the lowest level since October 1, ahead of trading at $1.2827. The common currency lost 0.1% to 103.10 yen after a 0.5% drop on November 2.
Base metals dropped on Friday despite positive data from the eurozone. Manufacturing activity across the single currency union contracted at a slower pace last month. However, increased caution among traders ahead of the US presidential elections due on November 6 weighted down on industrial metals.Aluminum fell as global inventories remained elevated. However, recent encouraging news from China limited a downward
The Group of Twenty global finance chiefs and central bank governors urged the U.S. to avoid the "fiscal cliff" that could undermine economic growth in the world's largest economy. The officials also discussed the risks arising from a delay in solving the Euro debt crisis. The G20 thinks that the global growth is still modest and risks are elevated, according
Asian shares dropped as South Korean carmakers Hyundai Motor Co. and KIA Motors Corp. tumbled, and the trading volume plunged on the upcoming presidential election tomorrow. The MSCI Asia Pacific (MXAP) index eased 0.3% to 122.26. Japan's Nikkei 225 Stock Average fell 0.5%, while South Korean Kospi slumped 0.6%. The experts say the Asian equities market will improve as soon as the political issues in
Precious metals ended the week in the red territory as US Dollar's appeal, traditional precious metals' hedge, rose ahead of the US presidential elections. Mixed data from the US labour market also pushed the commodity group lower.Gold plunged as strong greenback created heavy selling pressure on the yellow metal. Moreover, increased caution before the US elections due next week weighted