Rural commodities, excluding coffee, tumbled on Thursday amid broadly stronger greenback and uncertainty over Ukrainian exports. Meanwhile, traders continued to monitor weather forecasts in the top-growing regions to gauge global supplies.Wheat shed 1.27% despite uncertainty over Ukraine's export restrictions. However, wheat is likely to trade higher on Friday as the Intentional Grains Council lowered its forecast for global harvest yields.Corn
Energy futures except for natural gas moved higher on Thursday amid positive signals from the US economy. US durable goods soared in September while jobless claims fell last week. However, a boost was partly offset by slower than expected increase in pending home sales and a buildup in the US crude oil inventories last week.Crude oil eased up on bullish
Industrial metals dropped on Thursday amid mixed data from the US. US durable goods orders soared 9.9% in September while unemployment claims eased down last week. At the same time, pending home sales rose much slower than expected in September. Sending the commodity group lower, uncertainty over Spain continued to dampen demand for risker assets.Aluminum remained in the negative territory
Treasuries advance for the first time in three days amid belief a report on U.S. GDP will post the first back-to-back growth readings below 2% since the country was rebounding from recession in 2009. On Friday, the 10-year yields dropped 2 basis points to 1.80%. The price of the 1.625% security maturing in August 2022 soared 6/32 to 98 14/32.
Precious metals rebounded after previous losses on Thursday, drawing strength from loosening monetary policy in the US. Pushing the commodity group higher, a recent slump in prices provoked some bargain hunting. Meanwhile, investors remained cautious ahead of the US quarterly GDP data release due on Friday.Gold jumped as the Fed pledged to stick to loose policy until US economic health
German consumer confidence increased despite pessimistic forecasts in October, the data showed on Friday. The GfK Institute's consumer climate index soared to 6.3 points for November, compared to an upwardly revised 6.1 points in the preceding month. It was a second consecutive advance for the indicator.The survey of about 2,000 people revealed income expectations rising noticeably, while consumers' willingness to
Asian stocks declined as companies including China Unicom Ltd. And Fanus Corp. reported earnings, which missed forecasts. The MSCI Asia Pacific Index slid 1.2% to 121.24, Japan's Nikkei 225 Stock Average fell 1.3% before a BOJ policy meeting on October 30. Hong Kong's Hang Seng Index lost 1.2% and Taiwan's Taiex Index slipped 1.8%. China's Shanghai Composite Index retreated 1.9%
Germany's Import Price Inflation decelerated more than economists predicted in September, after surging in the preceding month, Federal Statistical Office said on Friday. The IPI rose 1.8% on yearly basis, compared to a 3.2% jump in August. Economists had forecast a 2.9% increase in September. On monthly basis, the prices fell 0.7%, after increasing 1.3% in August.
Japan's policy makers announced 750 billion yen of stimulus to prop up economic growth as consumer prices fell and the legislature gridlock threatens to undermine government debt sales. Economy Minister Seiji Maehara said that the measures would increase GDP by 0.1 percentage point. The legislature should be approved by the end of November in order to hold debt auctions as
The Yen advanced versus all the major peers as earning concerns pushed down Asian stocks, increasing demand for haven assets. The Yen strengthened 0.3% to 80.02 per U.S. Dollar after touching 80.38, the weakest level since June 25. Japan's currency rose 0.3% to 103.54 per Euro. The MSCI Asia Pacific Index slipped 0.9% after companies including China Unicom Ltd. And
German stocks climbed on Thursday on encouraging news from the UK and US. US jobless claims dropped last week while US durable goods orders soared by 9.9% last month. Better-than-expected quarterly results of large European companies also lifted German equities. The DAX Index jumped 0.72% and is currently trading at 7,244.61. Five out of nine sectors included in the index
UK shares climbed on Thursday on encouraging profits of the FTSE 100 majors. Moreover, UK economy grew more-than-expected in Q3, pulling the country out of the recession. The UK GDP expanded by 1%, beating forecasts of a 0.6% rise. UK shares received a boost after the national GDP data. Positive news from the US also supported UK shares. The FTSE
Hong Kong blue chips extended previous gains on Thursday, rallying for 10th consecutive session. Positive news from the US real estate market and hopes for easing in Japan boosted Hong Kong shares. Adding to gains of the Hong Kong equities, the Fed indicated that it will continue monetary stimulus until the US economic health improves significantly. The Hang Seng Index
Japanese equities rallied on Thursday on mounting hopes that the BoJ will embark on easing measures to stimulate faltering economy. The BoJ is expected to announce monetary easing at its next meeting due on October 30. However, lingering concerns over weak corporate results and dismal PMI readings from the eurozone capped gains of Japanese shares. The Nikkei 225 Index soared
The Dow Jones Industrial Average Index pared losses on Wednesday after the Fed stated that it would stick to its loose monetary policy until the US economy improves. However, market sentiment remained under heavy pressure as corporate earnings continued to disappoint. Adding to losses of the US blue chips index, the eurozone witnessed faster than expected contraction of the manufacturing
US stocks extended previous losses on Wednesday as market sentiment remained dampened by weak flesh PMI releases from the eurozone. An unexpected drop in German Ifo Business Climate Index also weighted down on global risk-appetite. At the same time, the Fed announced that it would continue its easing measures, thus limiting losses of the US equities. The S&P 500 Index
US stocks extended previous losses on Wednesday as market sentiment remained dampened by weak flesh PMI releases from the eurozone. An unexpected drop in German Ifo Business Climate Index also weighted down on global risk-appetite. At the same time, the Fed announced that it would continue its easing measures, thus limiting losses of the US equities. The S&P 500 Index
Farm commodities were mixed on Wednesday amid stronger greenback and solid global equities. Uncertainty over whether Ukraine will impose export restrictions supported grain futures. However, dismal news from the eurozone and weakening demand for US supplies pushed the commodity group lower.Wheat was the top-gainer as concerns that Ukraine may limit exports persisted. However, solid US Dollar restricted an upward trend
Energy futures sank on Wednesday as stronger US Dollar continued to push the commodity group lower. Negative headlines from the eurozone added to loses in energy futures. Moreover, larger-than-expected buildup in the US crude oil inventories weighted down on Brent and crude oil.Crude oil tumbled after the EIA reported that US crude oil stockpiles jumped by 5.9 million barrels last
Base metals were mixed on Wednesday, with zinc and nickel climbing and copper and aluminum slumping. Lifting base metals' pack, China's PMI contracted less than expected in September. However, disappointing flesh PMI readings in the eurozone and unexpected drop in German Ifo Business Climate Index created heavy pressure on industrial metals.Aluminum was the top-loser on high output in China and
Precious metals apart from silver moved lower on Wednesday, pressurized by broadly stronger US Dollar. Speaking before German parliament, Mario Draghi warned that the eurozone may face deflation risks. Precious metals, being a traditional inflation hedge, dropped on the ECB president's comments. Meanwhile, the Fed pledged to stick to its loose monetary policy.Gold extended previous losses on strength in greenback
On Thursday, Germany's government bonds were lower, ending a 3-day long streak of gains, as trader sentiment was determined by an upcoming report on money supply, which is widely expected to show growth of Euro supply in September. The yield on 10-year government bonds added 3 basis points to 1.59% by 8:13 .m. in London.
On Thursday, the New Zealand's Dollar grew to an almost 6-month high versus the Yen, following an announcement about unchanged interest rates by the central bank. The New Zealand Dollar was traded at 65.89 Yen, which was the highest since April, and consolidated at 65.86 Yen by 4:40 p.m. Sydney time, climbing 0.6% for the trading session.
On Thursday, the Australian Dollar edged higher versus the U.S. counterpart, reaching a 1-week high, after Fed's announcement that it would not remove its monetary policy despite the improving economy. AUD/USD hit a session high of 1.0385, and later consolidated at 1.0387, which was a 0.42% gain for the European morning trading hours.