The Japanese Yen continues to appreciate and have reached 79.28 USD/JPY value, the lowest since October 22, in the end of Asia trading session. The Yen increases against it major peers due to the Bank of Japan expanded its asset-purchasing programme by 11 trillion Yen, what was estimated as a minimum expansion and disappointed investors' expectations. Also, traders purchase the
Precious metals extended losses on Monday as solid US Dollar continued to weight on the commodity group. At the same time, hopes that the BoJ will introduce more monetary incentives at its policy meeting on October 30 were supportive for precious metals.Gold traded in a narrow range, balancing between persistent appreciation in greenback and speculation that the BoJ will embark
German shares sagged on Monday amid on-going worries over Spain and Greece. Dismal earnings reports from the largest European companies added to losses of German shares. The DAX Index dropped 0.46% and is currently trading at 7,198.55. All sectors included in the index plunged. The top-losers were financials and utilities. Deutsche Bank and Commerzbank shed 0.18% and 1.76% while E.ON
UK equities sank on Monday as worries over financial difficulties in Spain and Greece continued to weight down on the market sentiment. Monday's trade is expected to remain thin as Hurricane Sandy prompted New York to suspend trading on all markets. The FTSE 100 Index tumbled 0.37% to trade at 5,785.47. All but one sectors within the index moved lower.
Hong Kong stocks prolonged their slump on Monday, weighted down by property developers. The real estate companies came under heavy pressure on news that the government plans new property cooling measures to curb recent price increase. A fall in China's stocks was further exacerbated by weak quarterly results of the largest China's companies. The Hang Seng Index shed 0.16% to
Japanese shares inched down as corporate results continued to disappoint investors. Slight appreciation in the Yen pushed exporters down, thus adding to losses in the Nikkei. At the same time, hopes that the BoJ will significantly expand its stimulus programme on Tuesday's meeting boosted Japanese equities. The Nikkei 225 Index eased down 0.04% to close at 8,929.34. Five sectors moved
US blue chip index eased higher on Friday as encouraging US GDP data outweighed weak corporate reports. At the same time, uncertainty over Greece and Spain continued to create heavy pressure on global stocks. Meanwhile, traders remained cautious ahead of US consumer confidence data due on Tuesday. The Dow Jones Industrial Average Index rose 0.03% to end the week at
US stocks ended the week on the negative note as investors continued to witness dismal corporate reports. Uncertainty over Greece and Spain also weighted down on the market sentiment. However, the downside was limited due to faster-than-expected US GDP expansion in Q3. The S&P 500 Index inched down 0.07% to close at 1,411.94. Six sectors climbed. The top-performers were telecommunications
On Monday, the Sterling was traded higher versus the Euro, reaching a 3-week high, as speculation about another round of quantitative easing by BoE eased, following strong U.K. data. EUR/GBP reached a session low of 0.8024 and subsequently consolidated at 0.8048 by 1:42 p.m. London time.
On Monday, the U.S. Dollar was traded higher versus the Canadian counterpart, as global growth concerns underpinned the demand for safer assets. USD/CAD hit a session high of 1.0004 and later consolidated at 0.9997, which was a 0.27% growth for the early U.S. trading hours. Previously, the currencies were at parity in early August.
On Monday, the Euro was decreasing in value against the U.S. counterpart, as Spanish and Greek worries weighed. The 17-nation currency hit a session low of $1.2887, and later consolidated at $1.2896, losing 0.33% for the trading session. The pair's support was prone to be found at 1.2834, whereas resistance could be witnessed at 1.2942.
On Monday, the Cable was traded lower versus the greenback, as trader sentiment was driven by worries over Spain and Greece. GBP/USD hit a session low of 1.6031, and later consolidated at 1.6036, which was a 0.42% fall for the European afternoon trade. The pair's support was likely to be at 1.5989, while the resistance was prone to be at
The German Federal Statistics Bureau reported on Monday that German consumer price index grew in compliance with expectations in October. The cost of living in Germany increased by 2% during the year prior to October 2012. The reading was unchanged from a September's figure. Month over month, the index was also flat and in compliance with expectations at the level
On Monday, Italy's borrowing costs fell sharply, as it was selling 6-month government bonds. The Italian Treasury managed to sell 6-month notes worth EUR8 billion at the average yield of 1.347%, which was a decline compared to a yield of 1.503%, which was at the similar auction in the previous month. The today's yield was the lowest since March.
The Bureau of Economic Analysis reported on Monday the U.S. personal consumption expenditure price index was unchanged in September. Month over month, prices of goods purchased by consumers, excluding food and energy, increased by 0.1% last month, unchanged from a preceding month's reading and in compliance with expectations. Consumer spending, which accounts for about 70% of the U.S. GDP, climbed
The Stoxx Europe 600 index decreased by 0.4% to 269.45 on early London trading session. The European equity benchmark still holds a 15% gain from 4th of June, as the European Central bank announced an unlimited asset-purchasing program. Investors are concerned on Asia stocks decrease and Hurricane Sandy warnings, which forced to cancel today's U.S. trading hours.
The Bank of England announced on Monday that the amount of mortgage approvals rose more than expected in September, since the bank's credit-easing plan raised accessibility of home loans. The number of mortgage approvals grew to 50,024 last month from a revised down reading of 47,921 for the preceding month. The figure rose more than expected, since analysts predict that
On Monday, treasuries were holding gains, as market sentiment was driven by an upcoming job report later this week, which is widely expected to show an increase in U.S. unemployment, amid Hurricane Sandy. The yield on benchmark 10-year government notes fell by 1 basis point to 1.73$ by 6:47 a.m. London time.
On Monday, copper prices were little changed, hovering above a 7-week low, as the commodity was supported by the sign of a recovery in the U.S. economy, but gains were capped by global growth concerns. On the London Metal Exchange, three-month copper grew by 0.13% and reached a settlement level of $7,826 per metric tonne by 3:43 a.m. in London
On Monday, Asian stocks turned lower in the late Asian trading hours, as disappointing corporate earnings continued to weigh. Hong Kong's Hang Send index decreased by 0.4% during the session. Elsewhere, in Tokyo, the Nikkei was little changed, following a decline from earlier highs as Honda cut its earnings outlook.
On Monday, German 10-year bunds were traded higher for the second day, as trader sentiment was determined by an upcoming report on German inflation, which is widely expected to show a decrease in it. The yield on 10-year bunds lost 3 basis points to 1.50% by 7:13 a.m. in London, which was the lowest since October 16.
On Monday, gold was traded higher, following the release of the data that showed that Japanese retail sales added less than expected, which boosted speculation about another monetary stimulus. Spot prices for gold grew by 0.3% to trade at $1,716.05 per ounce, and later consolidated at $1,715.26 by 1:54 p.m. Singapore time.
On Monday, prices for oil were falling, ending a 2-day streak of gains, while gasoline prices were advancing, since refineries stopped their operations before Hurricane Sandy. On the NYMEX, December delivery futures fell by $0.50, hitting a session low of $85.78 per barrel, and subsequently consolidated at $85.95 by 2:47 p.m. in Singapore.
National Institute for Statistics reported on Monday that Spain's retail sales decreased more than expected last month. Retail sales fell by 10.9% on a seasonally adjusted basis, compared to a decline of 2.0% in the month before. Economists, however, expected that the last month's reading would be equal to minus 6.2%.