US stocks dropped on Tuesday despite positive news from the Eurozone. Spain sold short-term debt with lower yields on Tuesday. Moreover, experts predict that the ECB will soon announce measures to ease debt pressure in the region. Meanwhile, traders remained cautious ahead of the FOMC minutes release due on Wednesday. The S&P 500 Index slid 0.35% to close at 1,413.17.
Asian stocks declined, with the regional benchmark index falling from a 3-month high, amid European leaders meeting this week to discuss the bailout package for Greece and after Japan showed a wider than expected trade deficit. The MSCI Asia Pacific Index fell 0.5% to 120.64. Japan's Nikkei 225 Stock Average slid 0.3%, while Australia's S&P/ASX 200 Index declined 0.2%.
The New Zealand and Australian Dollars declined versus most of their major counterparts before data that might indicate contraction in German and French manufacturing. The Aussie Dollar slid 0.5% to $1.0436 after gaining 0.4% to $1.0487 the previous day. It declined 0.5% to 82.73 Yen. The Kiwi Dollar dropped 0.4% to 80.81 U.S. cents, after gaining 0.3% yesterday. The New
The Canadian Dollar fell from almost 4-month high against the U.S Dollar after a decrease in equities raised risk aversion, making investors sell higher-yielding currencies. The Loonie lost 0.08% to 98.92 cents per unit of its U.S. counterpart. One Canada's Dollar buys $1.0109. The Canadian Dollar had strengthened to the highest since May as oil rose and stocks increased amid
Agricultural commodities were mixed on Tuesday, with grains extending the rally and sugar and coffee declining further. Over the day, market participants remained focused at weather conditions in the US, Russia, Brazil and India. Wheat surged as lack of rain in Russia and EU continued to threaten crops. Meanwhile, poor wheat crops in the EU and Russia are likely to boost
Energy commodities apart from natural gas surged on Tuesday on expectations that the ECB will act to resolve the debt crisis in the Eurozone. Moreover, supply concerns from the Caribbean also boosted the commodity group. Crude oil climbed on lower risk-aversion among market players amid positive news from the single currency union. Threat of tropical storm in the Caribbean also added
Industrial metals advanced on Tuesday on optimism over the Eurozone and hopes for easing in the US and China. Experts claim that the EU leaders are likely to grant Greece an extension of period needed to adjust budget program. Aluminum gained 1.63% despite rising stockpiles and weak confidence. The light metals found support on positive headlines from the Eurozone and
The greenback rose against most of its major counterparts before data that might indicate U.S. housing market is improving, easing concerns the Fed will launch a third round of QE. Demand was also supported before the release of the Fed's minutes of its latest meeting.The U.S. Dollar traded at $1.2467 per Euro after declining to $1.2488 yesterday. The Dollar was
Precious metals rallied on Tuesday amid building hopes for monetary easing by the Fed, ECB and POBC. Meanwhile, traders awaited a FOMC minutes release due on Wednesday; the minutes are likely to be the major driver for the commodity group in the next sessions. Gold reached more than three-month high on hopes for easing by global central banks and weaker US
The Euro strengthened to a 6-week high versus the U.S. dollar and Japanese Yen before European policy makers meet this week and amid speculation the region's debt crisis is being contained. The shared currency rose for a second consecutive day against the greenback after Germany said concessions for Greek government were possible and as Spanish bond yields decreased at the
Crude oil futures rose above $97 on growing optimism that the ECB will curb Eurozone's debt crisis. Crude for September settlement added 1.3 per cent, or $1.25, to $97.22 per barrel. Meanwhile, other oil-related products edged higher as well, with heating oil, gasoline and natural gas all with September contracts jumping more than 1%.
The Euro rocketed on Tuesday, August 21, as the optimism over bold ECB action to stem the 17-member bloc's debt crisis grew. The shared currency soared 1.03% to $1.2472. At the same time, the ICE Dollar Index erased 0.68% to 81.9. Moreover, better-than-expected Spain debt auction boosted the Euro as well, with Spain selling 4.51 billion euros of 12- and 18-month bonds.
The Euro rocketed on Tuesday, August 21, as the optimism over bold ECB action to stem the 17-member bloc's debt crisis grew. The shared currency soared 1.03% to $1.2472. At the same time, the ICE Dollar Index erased 0.68% to 81.9. Moreover, better-than-expected Spain debt auction boosted the Euro as well, with Spain selling 4.51 billion euros of 12- and 18-month bonds.
Spain's bond yields tumbled on belief the ECB would resume buying peripheral bonds. The Spanish Treasury raised EUR 4.51 billion from sale of 12- and 18-month notes on Tuesday, the agency forecast a range of EUR 3.5 billion – EUR 4.5 billion. The one-year note yield fell to 3.070% from 3.918% in preceding auction on July 17. The 18-month debt
Copper advanced to the two-week high amid optimism an upcoming ECB strategy will help stop the euro-debt crisis, however prices will probably hold quite stable as investors await more trading signals. On Tuesday, three-month copper rose 1.8% to $7,590 per tonne in London, the strongest since August 7.
U.S. stock futures increase, lead by the S&P 500 Index hitting a four-year high, on belief the European leaders will step up resolving the euro-debt crisis during meetings this weeks. On Tuesday, S&P500 futures due in September advanced 0.2% to 1,417.9. Dow Jones Industrial Average futures rose 0.2% to 13,257.
China is stepping into a demographic "danger zone" where a financial recession may become more probable due to rise in mortgages and property prices corresponding with an aging of the population, a Bank of Japan Deputy Governor Kiyohiko Nishimura announced on Tuesday. China is in danger of similar crises in the U.S. in 2000s and in Japan in 1990s as
Hong Kong's annual inflation fell to the two-year low in July, the Census and Statistics Department reported on Tuesday. The CPI rose 1.6% on year in July, the lowest since July 2010, from 3.7% rise in June. Economists estimated a reading of 3.4%. In the second quarter seasonally-adjusted consumer prices fell 0.7% from Q1.
Belgium's consumer sentiment dropped for the second straight month in August, the National Bank of Belgium said on Tuesday. The consumer confidence index tumbled to -16 from -13 in previous month, while analysts estimated an index to be at -12. Consumer expectations of their future savings opportunities was less negative in August at -3 from -4 in July.
Gold edged up after the U.S. Dollar cut rise against its major counterparts. On Tuesday, December-delivery gold rose $4.60 to $1,627.60 per ounce. Holdings of SPDR Gold Trust, the world's major gold-backed exchange-traded reserve, held stable at 1,274.74 tons. Silver price was increasing and platinum continued decline in morning deals.
German stocks jumped on Tuesday on positive news from Spain. Spanish yield on 12- and 18-month bills declined to 3.07% and 3.34% at the debt sale on Tuesday. Currently, the markets are quiet as traders await meetings between the EU leaders to resolve the crisis in the region. The German DAX Index added 0.38% to trade at 7,059.89 at GMT
UK equities advanced after Spanish costs of borrowing declined at debt auction on Tuesday. Meanwhile, traders are cautious ahead of series of meetings aimed at developing measures to ease debt pressure in the Eurozone. The FTSE 100 Index rose by 0.28% to trade at 5,840.55 at GMT 12:00. Seven out of nine industries jumped. On the upside were basic materials,
The Hang Seng Index slightly retreated despite rally of other China's benchmark indices. Escalating worries over the Eurozone's debt crisis created heavy pressure on China's blue chips. However, optimistic earnings results as well as speculation that China's government may still provide additional monetary stimulus boosted Chinese equities. The Hang Seng Index inched down by 0.02% to trade at 20,100.09. Four
U.K. unexpectedly reported a budget deficit in July as corporation tax receipts declined. According to the Office for National Statistics, the shortfall was 557 million pounds compared to a 2.84 billion pound surplus last year. Tax revenue declined 0.8% and corporation tax fell 19.3%, while government spending increased 5.1%.