Soybeans dropped for a fourth consecutive day in Chicago amid speculation that weather forecast for U.S. Midwest will increase crop outlooks following recent dry weather. November delivery soybeans slid 0.4% to $13.37 per bushel as of 7:42 on the Chicago Board of Trade after the oilseed gained 6.8% from the end of June. December delivery corn was stable at $4.54
The Yen traded almost at its highest in two weeks versus the U.S. Dollar, backed by technical buying, while traders await the FOMC meeting outcome released later today. The Japanese currency added 0.2% to 98.94 Yen per Dollar at 10:06 a.m. GMT, while gaining 0.25% to 132.10 Yen per Euro but dropping to 157.99 Yen against the Pound.
West Texas Intermediate soared after decreasing for four days before Fed decision about bond purchases. Futures advanced 1.1% and crude stocks fell by 1.2 million barrels to 359 million last week. October delivery WTI gained $1.15 to $106.57 per barrel on New York Mercantile Exchange, while November settlement Brent added 5 cents to $108.24 per barrel on London-based ICE Futures Europe exchange.
The greenback dropped toward a two-week bottom versus the Yen before the Fed announces today whether it will decrease its $85 billion of monthly asset buying program. The Dollar fell 0.3% to 98.88 Yen as of 10:05 a.m. London time after soaking to 98.46 Yen on September 16 and The Japanese currency rose 0.3% to 132.04 per Euro.
West Texas Intermediate crude lost for a third day as U.S. deal with Russia to remove Syria's chemical weapons reduced risk of supply. October delivery WTI fell 0.7% to $108.54 per barrel at 10:50 a.m. on the New York Mercantile Exchange. The European benchmark's premium to WTI soaked from $3.88 to $3.20 yesterday. November delivery Brent dropped 1.4% to $108.54
The loonie advanced for a second day on factory sales increase at the fastest speed in five months through July, backing the case of economic recovery. Factory sales gained 1.7% to $48 billion, topping expectations. The Canadian dollar climbed 0.1% to 1.0314 Canadian Dollar per U.S. Dollar as of 8:46 a.m. Toronto time, after reaching 1.0283 per U.S. Dollar yesterday.
U.K. government bonds dropped first time in five days before BoE interest-rates guidance program minutes to be published tomorrow. The 10-year gilt yield added 0.3% percentage point to 2.91% as of 12:26 p.m. in London. The September 2023 2.25% security lost 0.22 per 1,000-pound face value, to 94.33.
A significant decline in income led to the drop in the current account surplus of the Eurozone to 16.9 billion euro July, 2013. The value for June was 19.8 billion euro. It is worth pointing out that trade balance of goods surged from 12.3 billion euro to 13.5 billion euro, while surplus for services decreased slightly. Income surplus shrank more
Stock prices of leading American banks jumped to the highest levels since crisis, while some have already overcome them. JP Morgan Chase, Wells Fargo and Goldman Sachs share prices surged the most, while Morgan Stanley is coming closer to the pre-crisis level. Still, such banks as Bank of America and Citigroup are now trading 50% below the 2008 levels, when
The government of the United Kingdom announced a sale of its stake in the county's biggest mortgage lender Lloyds Banking Group Plc for 3.2 billion pounds. About 6% or 4.28 billion shares of the bank were sold, while the price per share reached 75 pence. Despite that, the U.K. government still owns a stake in another bank, the RBS Group,
After Lawrence Summers' denial to participate in the race for Fed presidency, the Central bank's current vice-president Janet Yellen became the top candidate for taking the seat and become the first chairwoman. Markets could approve her candidacy, as she supports the QE program and may pause the tapering. Barack Obama is going to announce his choice not as earlier as
The Reserve bank of Australia's officials said on Tuesday that there still is a possibility of cutting main interest rates, if the economic conditions in the country become worse and the investment continue falling. After today's meeting the RBA decided not to change the interest rate, leaving it at 2.5%. RBA economists pointed out that slumping dollar exchange rate may
One of the leading technology companies and software developers in the world, Microsoft Corp., is introducing a new Bing searching service logo to raise an overall popularity of it. Nowadays, the leading company on this market is Google with a market share of 66.9%, while Bing holds only 17.9%. Microsoft Corp. stock prices lost 0.7% to $32.80 during the Monday's
The largest retailer in the U.S., Wal-Mart Stores Inc., is going to offer its clients a discount on new iPhones from Apple Inc. New iPhone 5C will be offered for $79 with a contract, a $20 discount from the usual price, while more exclusive iPhone 5S can be purchased for $189, $10 cheaper. At the pre-market on NYSE the Wal-Mart
Intel Corp., an American semiconductor manufacturer, announced 1100 job cuts by the end of this year, including closure of a plant in Massachusetts, where 700 jobs are supposed to be eliminated. 400 more jobs of Intel will go at its facility in New Mexico. Before the opening of the market Intel Corp. futures are trading 0.77% higher from Friday's closure,
According to the CNBC survey, two out of three economists expected Barack Obama to nominee Lawrence Summers as the new Fed chairman. Alongside, five out of six experts wanted Janet Yellen to become the new chairwoman. After Summers' quit from the race, it is forecasted that Yellen, who is currently the Fed's vice-president, will become the No.1 candidate for its
American car sales are posing for a strong advance, while the car makers can sell about 16.1 million new cars in 2014. Such a positive forecast was given by analysts from Bloomberg survey. Meanwhile, the current annual record is set on 17.4 million sales. The last time car sales in the U.S. increased for five consecutive years from 1996 to
Lawyers of the European Union notice that the United Kingdom will obviously benefit from the refusal of imposing a tax on financial transactions. This decision will allow the U.K. to attract a lot of European financial institutions to work in the country. Nowadays, only 11 EU member states approved the tax, including France and Germany, putting the U.K. into a
Many bond investors predict that the Federal Reserve will not keep its interest rates on the current low level until 2015, as volatility on bond market rises, while the U.S. economy shows signs of recovery. Moreover, it is highly expected the Fed's purchase amounts of Treasuries to be decreased by $10 billion this week, and the Central bank will not
Prices for WTI oil fall on Monday amid dropping pressure from Syria, as the U.S. agreed a plan with Russia to confiscate Syrian chemical weapons. It seems that oil supply from Syria will not decline in the nearest future. WTI futures for October slumped $106.48 per barrel, $1.73 or 1.6% less than at the end of the last week. Brent
Indian national currency increased in value versus dollar on Monday, as markets positively reacted on Lawrence Summers' announcement of being out of race for Fed's chairman seat. Moreover, the country's government bonds decreased a little, while the inflation pace reached 6.1% in August. At the moment, the rupee is trading 62.63 per dollar, 1.3% higher than at market closure time
Despite worries on the Federal Reserve's future decision about stimulus tapering, U.S. companies stockpiles inched up for the third time this year. Inventories of U.S. businesses rallied 0.4% in July, overshooting analysts' expectations of a 0.2% rise. Manufacturers' reserves increased 0.2% in July, while shipments of their products rallied 1.1%.
The Canada's Dollar declined for the second day amid speculation the Federal Reserve may begin to start stimulus tapering next week, which is expected to send the U.S. Dollar lower. The Canadian currency dropped 0.1% to C$1.0335 versus the greenback, while the U.S. retail sales advanced only by 0.2% in August.
Italian 10-year government bonds decreased for the first time in three days after Euro block's officials boosted concerns that political instability in Italy may threaten economic reforms. Portugal's government bonds plummeted for the fourth day in a row, with benchmark 10-year note yields jumping to and almost two-month high. The Italian benchmark 10-year bond yields inched up to 4.56%.