On Friday, treasuries were traded higher, ending a 4-day long streak of losses, as investors eyed an upcoming report, which is widely expected to show a decline in existing home sales. The yield on 10-year government bonds decreased by 3 basis points and reached the level of 1.18% by 6:56 a.m. in New York.
On Friday, copper was traded lower, but is likely to end the week with a 0.6% gain, as Chinese data showed that the economy is stabilizing. On the London Metal Exchange, three-month copper was traded at $8,180 per metric tonne by 04:52 a.m. London time, which was a 0.49% decline for trading session, following a flat trade during the preceding session.
On Friday, gold was traded lower and likely to witness the second weekly decrease, as optimistic data from China damped speculation about further stimulus, undermining demand for the precious metal. On the NYMEX, December delivery futures for gold declined by 0.6% and reached $1,734.70 per troy ounce at 7:47 a.m. New York time. Earlier, it hit a session low of $1,733.85.
German equities dropped on Friday on lack of progress in decision on Spanish bailout. Adding to the negative mood of the shares, US jobless claims soared last week. The DAX Index declined by 0.40% and is currently trading at 7,407.83. Only one in nine sectors included in the index managed to climb. Consumer goods sector added 0.60%, with Adidas inching
UK shares are trading lower on Friday as the EU leaders failed to reach agreement over Spanish bailout. However, officials continued to pursue the goal of setting up a supervisor for euro-area. The leaders will agree on the framework on making the ECB the main supervisor by January 1, 2013. Meanwhile, UK public sector net borrowings climbed less than expected
Hong Kong stocks gained for the seventh consecutive session on Friday amid mixed data from the US. US employment data disappointed investors while upbeat news from the US manufacturing sector boosted market sentiment. China's FDI dropped by 3.8% in the first nine months of the year, thus weighing down on China's equities. However, the Hang Seng Index managed to add
The Office for National Statistics reported on Friday that budget deficit of the U.K. was lower than expected. Budget deficit excluding support for banks declined to £12.809 billion, which is approximately $20.5 billion, compared to a budget deficit of £13.501 billion a year earlier. The figure for the last month is the lowest September's reading since 2008. Economists, however, expected that it would be equal to
Japanese equities extended previous gains on Friday on mounting hopes that the Bank of Japan will ease its monetary policy to stimulate faltering economy. Encouraging news from the US manufacturing sector as well as weaker Yen also boosted Japanese stocks. However, hints that the POBC is not going to provide large stimulus capped the upswing. The Nikkei 225 Index climbed
The Dow Jones Industrial Average Index eased down by 0.06% to close at 13,548.94. Disappointing data from the US labour market coupled with vanishing hopes for large stimulus in China created heavy selling pressure on the US stocks. At the same time, upbeat manufacturing data from Philadelphia-region supported US equities. Philadelphia-region manufacturing activity indicated expansion for the first time in
US shares halted their rally on Thursday on disappointing US jobs data. US jobless claims rose to three-month high last week, indicating that the national labour market is still facing downside risks. Moreover, rising cautiousness during the two-day EU summit created additional pressure on the US equities. However, positive news from the US manufacturing sector restricted the downside. The S&P
Agricultural commodities were mixed on Thursday amid broadly stronger US Dollar and easing concerns over China's demand. At the same time, upward revisions of Brazilian crop estimates created heavy pressure on farm commodities. Wheat was the top-performer, advancing by 2.05% on falling global supplies. Rabobank cut its estimate of Australian wheat crop by one million ton this year, citing dry
Energy futures apart from natural gas retreated on Thursday on stronger greenback and dismal headlines from the US job market. US jobless claims climbed to three-month high last week, signaling that recovery of the US labour market is fragile. However, positive manufacturing numbers from the US were supportive for the commodity group. Crude oil was steady amid worrying signs from
European stocks retreated on Friday, as traders were cautious amid the second day of EU summit, and awaited the U.S. existing house sales due later. The Stoxx Europe 600 slid 0.2% to 275.57 on banks and oil decline. The DAX 30 dropped 0.3% to 7,417.37, the CAC 40 slipped 0.2% to 3,529.20, while the FTSE 100 was little changed at
Industrial metals were mixed on Thursday, with zinc and copper remaining unchanged and nickel and aluminum climbing. Encouraging manufacturing data from the US pushed base metals higher. Philadelphia-region's manufacturing activity indicated an expansion for the first time in six months in October.Aluminum rose on larger-than-expected increase in manufacturing activity in Philadelphia. However, disappointing comments from POBC adviser that China will
Precious metals tumbled on Thursday on broadly stronger US Dollar ahead of the EU summit. Mixed US data and fading hopes that the POBC will provide essential stimulus for China's economy weighted down on the commodity group. Gold halted a three-day rally amid increased cautiousness ahead of the EU summit results. Encouraging manufacturing data from the US also sent the
Foreign Direct Investment in China declined again in September after a weakening in world's second biggest economy discouraged firms' spending intentions. FDI slid 6.8% on year to $8.43 billion, slightly above $8.33 billion inflow in August, the Ministry of Commerce reported on Friday. China's GDP added 7.4% on year in Q3 after a 7.6% advance in Q2.
Japan's leading index rose less than preliminary estimated in August, the Cabinet Office revealed final data on Friday. The index increased to 93.2, up from 93 in July, but below initial estimate of 93.6. The coincident index was downwardly revised to 93.5 from 93.6, compared to 93.8 in the preceding month. The lagging index soared to 87.3 in August after
The Yen declined versus most major counterparts on Friday amid speculation that the Bank of Japan will create further stimulus measures, cutting demand for the nation's assets. The Yen was at 79.31 per U.S. Dollar from 79.28 yesterday, when it reached 79.47, the weakest level since Aug. 21. It fell 0.1% to 103.67 per Euro, after declining 0.6% to 104.14
Asia stocks held to tight ranges in on Friday, but seen rising strongly this week, lead by Hong Kong and Tokyo stocks' advance. The Nikkei Stock Average gained 0.1%, the S&P/ASX 200 Index rose 0.2%, while the Kospi slipped 0.9%. The Shanghai Composite Index slid 0.1%, while the Hang Seng Index inched 0.3% up.
Oil slid in Asian session on Friday, prolonging yesterday's decline, amid the U.S. Dollar advance. November delivery crude lost 0.1% and traded at $92.02 per barrel. The ICE Dollar Index increased to 79.38 on Friday, compared to 79.356 in the previous session. Meanwhile, November delivery heating-oil and gasoline each added 1 cent to $3.17 per gallon and $2.75 per gallon,
German shares remained higher on Thursday as positive reports from China's economy boosted global demand for riskier assets. Sending German equities higher, Spanish borrowing costs slid during ten-year sovereign bond auction on Thursday. Spain's Treasury sold EUR1.51 billion of ten-year government bonds generating average yield of 5.458% compared to 5.666% at the similar debt auction in September. The DAX Index
UK equities halted an upward trend on Thursday despite encouraging figures from China. China's GDP expanded in line with market expectations while Chinese industrial production and retail sales beat forecast last month. Meanwhile, investors awaited the results of a two-day EU summit that stared today. The FTSE 100 Index lost 0.19% to trade at 5,899.85. Five out of ten sectors
Hong Kong shares advanced for the sixth consecutive session on Thursday. China's GDP grew by 7.4% in Q3, signaling that China's economic slowdown is stabilizing. The country's industrial production and retail sales also beat estimates last month, boosting market sentiment. Moreover, positive data from the US real estate market lifted Hong Kong shares. The Hang Seng Index gained 0.48% to
Japanese shares skyrocketed on Thursday after China's GDP numbers convinced investors that China's economy is growing at an expected pace. Upbeat US housing data also prompted traders to turn to riskier assets. Moreover, the Yen continued to depreciate, thus lifting exporters. The Nikkei 225 Index soared 2.07% to end the session at 8,988.75. Nine out of ten sectors within the