U.S. Treasuries dropped for a fourth day before a data expected to show U.S. new-home construction was near the most since 2008. The 10-year yields rose to 1.85%, after touching 1.86%, the highest since May 11. The 1.625% note due in August 2022 slipped in price to 97 29/32. Job, factory and consumption reports this month all signaled growth in
Japan's stocks gained, lead by the Nikkei 225 Stock Average rising to a six-week high, as Chinese Premier Wen Jiabao announced easing inflation will provide more space for monetary stimulus to boost the economy. The Nikkei 225 rose 1.9% to 9,092.76, its strongest level since July 4. The Topix Index gained 1.6% to 759.12.
Australia's and New Zealand's Dollars surged versus most of its major counterparts after commodities climbed on signs of advancement in U.S. economy. On Wednesday, the Aussie gained 0.2% to $1.0505. It increased 0.5% to 82.98 Yen. The Kiwi rose first time in last three days, climbing 0.2% to 80.1 U.S. cents. It surged 0.5% to 63.76 Yen.
The Yen tumbled against all its major peers after Asian stocks climbed and the additional yield investors get from U.S. treasuries rose to the four-month high, reducing the allure of Japan's currency. The Yen dropped 0.4% to 79.29 per U.S. Dollar, after reaching 79.36, the weakest level since July 13. It fell 0.2% to 97.27 per Euro. The MSCI Asia
Gold demand declined 7.1% in the second quarter after investment fell 23% and Asian jewelry consumption dropped 15% on higher local costs and worries about economic growth, reported by the World Gold Council. Gold demand fell to 990 metric tons, compared to 1,065.8 tons a year before. Gold declined 4.3% in the second quarter in London.
Copper rose as Chinese Premier Wen Jiabao commented lower inflation gives a room to change monetary policy, fueling optimism the government will act to boost the economy. Three-month delivery copper gained 0.8% to $7,443.75 per metric ton in London. December-delivery copper increased 0.5% to $3.3765 per pound in New York.
Oil was near the highest level since May as U.S. inventories fell to the four-month low and China added a sign it may step up efforts to boost the economy. On Thursday, futures were little changed after yesterday's 1% gain. Stockpiles dropped 3.7 million barrels and total oil consumption climbed to the nine-month high last week. September-delivery oil fell to
Gold futures edged higher on Wednesday, after early losses, and aimed to break the period of two loss sessions. Bullion for December settlement added 0.3%, to $1605.30 per ounce, before dipping under $1600; September silver jumped 0.3%, to $27.84 per ounce. On the contrary, other precious metals depreciated, with copper, palladium and platinum all for September delivery erasing 0.1%, 0.4% and 0.1%, respectively.
According to the Office for National Statistics (ONS) figures, the unemployment rate in the U.K. fell by 46,000 to 8.0%, or to 2.56 million. The improvement by 0.2% may be explained by the Olympics, which took place in London. Still, the number of people, who are working part-time reached a 20-year peak, and added 16,000 to 1.42 million in the second quarter.
The world's biggest economy is improving, since the Fed's last policy meeting on August 1. Goldman Sachs raised its GDP growth forecast in the third quarter to 2.3%. Additionally, latest better-than-expected fundamentals may influence Fed's decision about launching another massive bond-buying program, or introducing QE3.
The U.S. Dollar strengthened versus the shared currency on Wednesday, as European leaders do not act in order to bolster Eurozone's economy. The EUR/USD currency pair dropped 0.33% to $1.2281, while the ICE Dollar Index added 0.14% to 82.66. The greenback was also supported by improved U.S. fundamentals, such as inflation and industrial production.
German shares declined on Tuesday despite positive data from the US. Concerns over the global economic instability continued to weight down on German stocks. German DAX Index lost 0.59% to trade at 6,941.62 at GMT 12:00. Eight out of nine industries retreated. Utilities managed to climb. RWE slid by 1.18% while E.ON added 0.93%.The biggest losers were telecommunications and technology
UK stocks declined on Tuesday as support from hopes for stimulus measures from the ECB started to fade. Meanwhile, positive data flow from the US restricted the downswing of the equities. The FTSE 100 Index lost 0.0% to trade at 5,835.43 at GMT 12:00. Six out of ten sectors included in the index dropped. Technology and health care firms buoyed
Hong Kong shares plunged on Tuesday amid worries that China's economic slowdown will weight on domestic demand. However, speculation that the PBOC will announce stimulus measures provided slight support for Chinese equities. The Hang Seng Index tumbled by 1.18% to end Tuesday's session at 20,052.29. Only two in ten industries included in the index rose. The top-gainer was consumer services
Rural commodities extended previous losses on Tuesday as favorable weather in Brazil and India is expected to increase crops. At the same time, drought in the US and Russia limited the downswing of the farm commodities. Wheat declined despite strengthening demand from major importers amid lower crops in the US and Russia. Corn slumped on speculation that recent rally may erode
Japanese stocks retreated on Wednesday as financials and utility companies slumped. Reports that euro-area GDP contracted in Q2 created notable pressure on Japan's equities. However, positive headlines from the US supported stocks. The Nikkei 225 Index lost 0.05% to trade at 8,925.04. A half of the sectors included in the index advanced. The biggest gains posted telecommunications and technology companies.
Energy commodities edged up on Tuesday amid upbeat US and German data. US PPI and retail sales advanced more than expected last month. Meanwhile, traders are cautious ahead of US crude oil inventory report due on Wednesday. Crude oil climbed on hopes that positive economic trends in the US and Germany will boost energy demand. Brent oil was slightly higher amid potential
The Dow Jones Industrial Average managed to climb 0.02% to close at 13,172.14 amid positive news from the US. US retail sales and wholesale prices increased more than expected last month. However, optimistic data failed to boost US stocks as hopes for more stimulus measures from the Fed started to fade. Five out of nine industries included in the index
The IBD/TIPP Economic Optimism Index tumbled by 1.4 points or 3 per cent in August, and reached 45.6 against 47 in the month earlier. The Index dropped to its lowest reading of 2012 so far, and reading below 50 indicates pessimism. Meanwhile, in December 2007 the reading was at 44.4 level, when the world's biggest economy fell into the recession.
PPI in the world's biggest economy jumped more-than-expected, by 0.3 per cent in July, after increasing by 0.1 per cent in the previous month. Meanwhile, core prices also advanced, adding 0.4% in July. The Fed uses core prices as a better measure for future inflationary pressure, as they do not take in to account energy and food categories.
According to the U.S. Census Bureau's report, nation's business-inventories added 0.1 per cent in June, after jumping 0.3% in the previous month. The data came below the expectations, as analysts expected an increase of 0.2%. The modest June increase in business- inventories pushed total business stockpiles up to $1.58 trillion.
Wall Street edged higher on Tuesday, boosted by better-than-expected U.S. retail sales data and the improvement of Germany's economic growth. The Dow Jones Industrial Average added 0.2%, to 13,189, the S&P 500 jumped 0.3%, to 1,408, and the Nasdaq Composite gained 0.3%, 3,030. Germany's GDP added 0.3 per cent in the Q2, while French GDP was unchanged. Retail sales in the U.S. rose by 0.8%, after
The Commerce Department reported on Tuesday that U.S. retail sales added 0.8 per cent to $403.9 billion in July, and rose by 4.1% compared to the same month in the previous year. In the meanwhile, consumer spending slowed to a 1.5 per cent annual growth rate in the second quarter, after adding 2.4 per cent in the first quarter.
Industrial metals were mixed on Tuesday, with nickel and copper rising and aluminum and zinc falling. Positive data from the US and Eurozone boosted market sentiment. Germany's GDP grew slightly more than expected in Q2 while US retail sales beat estimates in July. Aluminum was steady as positive headlines from the Eurozone and US did not manage to outweigh recent dismal