The Wall Street closed in red after a release of the FOMC meeting minutes that showed the Fed may ease or even halt its growth-boosting activities earlier than planned. Furthermore, weaker-than-expected data from the US real estate market put pressure on US equities. The S&P 500 dropped 1.24% to close at 1,511.95. All industries included in the index slid. Meanwhile,
Asian shares plummeted on concern the Fed may refrain from its monetary stimulus. The MSCI Asia Pacific Index declined 1.5% to 133.21 at 3:21 p.m. in Tokyo. Japan's Nikkei 225 Stock Average lost 1.4%, South Korea's Kospi Index fell 0.5% after climbing yesterday the most since September. Australia's S&P/ASX 200 Index declined 2.3% and Hong Kong' Hang Seng Index slid
The South Korean Won halted its two-day rally amid speculation the Fed may opt out expanding monetary easing to prop up economic growth in the U.S, Korea's second-biggest export partner. The currency fell 0.5% to 1,083.80 per greenback at 10:38 a.m. in Seoul, with one-month volatility climbing 7 basis points to 6.82%.
The Chinese Yuan fell toward the lowest level in two months amid concern the U.S. will wind down its asset purchase scheme. The Yuan declined 0.09% to 6.2433 per U.S. Dollar at 10:04 in Shanghai. The currency fetched 6.2454 on February 19, the weakest level since December 14. Divergence of spot prices is accepted within 1% range from the reference
Australia's Dollar fell, after the biggest one-day decline in a month yesterday, as Asian shares plummeted, curtailing demand for risky assets. The Aussie lost 0.2% to $1.0233 at 4:46 p.m. in Sydney after sliding 1% to $1.0256 yesterday. The currency bought 65.62 yen from 95.97 in New York. Australia's 10-year yield fell 0.05 percentage point to 3.54%.
Farm commodities advanced on Wednesday despite weak demand for risky assets after FOMC meeting minutes' release. Broadly stronger US Dollar also failed to send rural commodities lower. The commodity group gained momentum on speculation China may increase its purchases after the Lunar New Year holidays. Wheat climbed amid global output concerns. Wheat output in Texas is expected to drop below
Energy futures apart from natural gas retreated on Wednesday after the FOMC meeting minutes showed that the Fed may stop its easing measures. Meanwhile, market players continued to anticipate the EIA inventory report due on Thursday. Crude oil slumped the most in three months after the American Petroleum Institute reported US stocks rose 2.96 million barrels last week, reaching the highest
Industrial metals followed bearish trend on Wednesday amid worries that the Fed may halt its growth-boosting activities. Stronger greenback coupled with weaker-than-expected data from the US housing market also contributed to the decline. Moreover, subdued buying from China pushed the commodity complex deeper into the red territory. Aluminum declined amid weak US data and worries that the Fed may end its
Precious metals plunged on Wednesday after closely-watched FOMC meeting minutes showed that the Fed may ease or outright stop its bond-purchasing program before initially planned. Pushing the commodity complex lower, the US Dollar skyrocketed after the FOMC report. Meanwhile, market players continued to wait for fresh US data that may result in the Fed's policy changes. Gold plummeted on escalated concerns
German stocks moved higher on Wednesday ahead of the FOMC minutes release scheduled later in the day. German stock market remained well-supported by Tuesday's upbeat reading of German investor confidence indicator. The DAX index added 0.19% and is currently trading at 7,767.24. Only four in nine industries within the index are trading up. Basic materials are leading gains in DAX
UK equities are trading in the positive territory on Wednesday after the latest report showed that more BoE members support an increase in asset purchasing. However, market participants remained cautious ahead of FOMC minutes release due later in the day. The FTSE 100 Index added 0.40% to trade at 6,404.99. Seven out of ten industries rallied. The top-performers were technology
Hong Kong stocks swung to gains on Wednesday after two consecutive sessions of losses. Hong Kong equities tracked gains of the overseas stock markets and improved risk appetite after better-than-expected German investor confidence data. Moreover, property developers bounced off Tuesday's lows thus lifting Hang Seng Index. Hang Seng Index jumped 0.71% to finish at 23,307.41. All but one industry included
ZEW Indicator of Economic Sentiment measuring economic expectations for Germany has climbed 16.7 points in February reaching 48.2 points and has gained 11.2 points to 42.2 in the Eurozone. The respective index evaluating current economic situation has declined 1.9 points and stands at 5.2 points in Germany, meanwhile, in the Euro area situation barely changed and currently is -75.6 points.
Economic sentiment in Switzerland improved more-than-anticipated reaching the highest level since June 2010. The ZEW Indicator rose from -6.9 points in the preceding month to 10.0 points in February, while analysts expected the index to climb by 7.9 points to 1.0. The indicator has overpassed a threshold and reached positive area for the first time since April 2012. Meanwhile, analysts'
Japanese markets closed on the positive note on Wednesday amid upbeat data from domestic economy. Japan's exports climbed more-than-expected last month as exports to China swung to growth. However, the country's trade balance missed estimates in January. Meanwhile, investors continued to anticipate the naming of the new governor of the BoJ. The Nikkei 225 Index reached a 52-week high to
Dow Jones Industrial Average Index rallied on Tuesday, being boosted by strong performance of the broader S&P 500 Index. Pushing the US blue chips higher, German investor confidence improved more than expected last month. Meanwhile, market players remained focused on upcoming FOMC minutes due on Wednesday. The Dow Jones Industrial Average Index climbed 0.39% to close at 14,035.67. Six
US stocks closed higher on Tuesday amid speculation that the number of mergers and acquisitions will soar. Moreover, risk appetite among investors was boosted by upbeat reading of German investor sentiment indicator. The S&P 500 Index added 0.73% to end the session at 1,530.94. All but one industry included in the index jumped. The top-performers were oil and gas as
Soybeans grew to the highest in one week in Chicago on demand from China, the largest consumer of the oilseed, may increase, and on low rainfall in Argentina, the third-largest supplier, may delay harvesting. The contract for May-delivery of soybeans advanced 0.7% to $14.6775 a bushel in Chicago, after reaching $14.70, the strongest level since February 8.
Gold fell for a sixth consecutive session, the longest losing run in almost 4 years, and reached the lowest level since August on the economy recovery decreased demand. Economists expect minutes from Federal Reserve's meeting on January 29-30, published today, and the data on consumer costs and producer prices will show U.K. inflation is under control.The contract for immediate delivery
The Pound declined to the weakest level in 15 months versus the Euro as minutes from this month's Bank of England meeting showed more officials want to increase asset purchases to support the economy. The U.K. currency dropped 0.8% against the Euro and traded at 87.50 pence per Euro, the lowest since October 2011. The Pound depreciated 0.8% against the
Asian shares advanced for a third consecutive day, with the regional benchmark index expanding an 18-month high, on signs that the world's economy is recovering. The MSCI Asia Pacific Index gained 0.9% to 135.30 at 2:02 p.m. in Tokyo following yesterday's close at the highest level since August 2011.Japan's Nikkei 225 Stock Average added 0.8% even after a record trade
The South Korean Won advanced for a second straight day as the nation's central bank Governor Kim Choong Soo said that the country is expected to grow 2.8%, signalling further monetary stimulus are necessary now. The Won inched up 0.3% to 1,078.40 versus the U.S. Dollar at 10:35 a.m. in Seoul, with one-month implied volatility declining 21 basis points to
The New Zealand Dollar declined versus its major peers as the RBNZ Governor Graeme Wheeler said today in Auckland that the central bank is ready to intervene to control currency's level and "smooth the peaks" of the exchange rate. As a result, the kiwi weakened 0.7% to 84.13 U.S. cents at 1:59 p.m. in Sydney and lost 0.7% to 78.66
Rural commodities, excluding sugar, were bearish on Tuesday amid broadly stronger US Dollar and improved weather conditions in the US Great Plains. At the same time, a record number of net short positions in coffee and sugar created an upside potential for softs. Wheat dipped after MDA reported that rains over the weekend in the US Great Plains was above expectations,