Energy futures jumped on Tuesday amid soft US Dollar and BoJ policy decision. BoJ announced an open-ended asset purchasing program and lifted its inflation target to 2% to stimulate economy in 2014. Upbeat German economic sentiment reading also was supportive for the commodity group. Meanwhile, market players remained cautious ahead of the EIA report due on Thursday. Crude oil climbed
Industrial metals apart from nickel surged, being boosted by stimulus measures from the BoJ and weaker greenback. However, dismal US data releases capped the upswing. Also weighing on the commodity group was increased caution ahead of US debt ceiling decision due on Wednesday. Aluminum advanced as risk appetite improved after the BoJ announced stimulus measures to boost faltering economy. At
Precious metals rallied on Tuesday after the BoJ announced an open-ended asset purchasing program and raised its inflation target by 2%. Sending the commodity group higher the US Dollar depreciated further on weak data from US real estate and manufacturing sectors. Gold advanced after the BoJ unveiled its stimulus measures. However, the gains were capped by an increase in gold's import
German shares paired their biggest losses in a week as Bafin, the nation's financial regulator, said he would ask Deutsche Bank AG to stimulate a split, offsetting positive data on investor confidence that improved this month. The DAX index retreated 0.8% to 7,690.64 points. All but two groups in the benchmark index declined. The gauge was also dragged down by
U.K. stocks started rebounding from their previous losses after a report showed the U.S. house sales improved and companies, such as Google Inc. and Johnson & Johnson, edged higher. FTSE 100 index stayed unchanged at 6,182.29 points by 15:20 GMT. Six out of ten groups inched higher with health care shares rallying the most. Among best performers were Kingfisher Plc
The Australian stock market stayed flat as investors sat on the sidelines after Bank of Japan announced its plans to increase the inflation target to 2%. In addition, the BOJ said it would launch an asset-buying program similar to the one released by Fed. The S&P/ASX200 index rallied 0.03%, or 1.6 points, to 4,779.1 points. Seven out of then sectors
Hong Kong shares advanced, sending the Hang Seng benchmark index to its 19-month high. Hong Kong stocks started advancing right after a report on January 18 showed that he nation's economy has revived. The Hang Seng index rallied 0.3% to 23,658.99. All but two groups in the gauge edged higher with consumer goods surging 1.10%, the most in the gauge.
German ZEW Economic Sentiment edged higher in January suggesting, according to experts, a brighter time for the German economy in the next six months and contributed to an optimism that the market outlook for 2013 will be bullish for the shared currency. The ZEW indicator of Economic Sentiment for Germany accelerated by 24.6 points to 31.5 points in January, its
The Japanese central bank adopted its biggest changes in order to boost the economy and to end a twenty-year period of stagnation, committing to a stimulus monetary policy, but disappointed investors as they will delay the program until 2014. The BoJ established a 2% inflation level to be achieved as soon as possible with a 13 trillion yen a month open-ended asses
Base metals were bearish on Monday despite hopes that the BoJ will announce additional easing measures at its meeting on Tuesday. Dampening the market sentiment, investors continued to monitor political developments across the US debt ceiling talks. At the same time, weaker US Dollar limited losses of industrial metals Aluminum dropped despite weaker US Dollar and hopes for further easing in
Farm commodities apart from sugar were bullish last week amid lingering concerns over the US winter-wheat crops and increased demand for US supplies. Weaker greenback also supported rural commodities. Wheat surged to almost one-month high on concerns than persistent drought in the US and Australia as well as winter-kill in Russia may significantly cut global supplies. Agriculture Ministry reported about 9%
Energy futures moved higher last week on upbeat China's data and a decline in the US inventories. On Monday, US markets were closed for the Martin Luther King Jr. holiday. Adding to the positive mood of the commodity group, the International Energy Agency revised upward its global demand forecast for this year by 240,000 barrels per day, citing strong demand
The Chinese currency Yuan depreciated to the lowest level in a week as China's aim to increase the money-market operations' frequency boosted demand for the greenback. The Yuan erased as much as 0.04% to 6.1975 per dollar. Meanwhile, the currency was trading at 6.2211 per dollar in Shanghai.
Chinese shares retreated after rallying to their eight-month high. The Shanghai Composite Index slid 0.7% to 2,312.23. The shares that slid the most were those of consumer staples group, whereas banks edged higher. Citic Bank advanced 3.1% to 4.68 yuan, while Singapore's Oversea-Chinese Banking Corp. soared 6.5% to 11.51 yuan.
Precious metals except for palladium advanced in quiet Monday's trading as US markets were closed for the Martin Luther King Jr. holiday. The commodity group prolonged its rally on expectations that the BoJ will ease its monetary policy further at its meeting on Tuesday. Gold rose on hopes for easing in Japan. However, the upswing was limited by potential fall in
Japanese shares dropped as the yen appreciated after BOJ doubled the target of inflation to 2% and aimed at launching open-ended asset buying, similar to the one in the U.S., the next year. The Nikkei 225 Stock Average dropped 0.4% to 10,702.48 after earlier rallying as much as 1% right after the BOJ's decision. Only three out of ten sectors
Oil was near the highest level in four months in New York after the Bank of Japan announced it will introduce further monetary stimulus. WTI for February settlement, expiring today, gained 14 cents to $95.70 a barrel, while the March contract rose 12 cents to $96.16. Brent for March delivery increased 39 cents, or 0.4%, to $112.10 a barrel.
Gold advanced to the highest level in one month as Japan's central bank set a 2% inflation goal and considered the Fed's style unlimited asset purchases in order to end deflation. Spot gold rose 0.3% to $1,694.25 an ounce and was at $1,693.90 as of 12:56 p.m. Singapore time, while gold for February settlement increased 0.4% to $1,693.10.
Most Asian stocks fell as Japan's central bank set a 2% inflation goal and delayed open-ended asset purchases till 2014. The MSCI Asia Pacific Index gained 0.3% to 132.64, with 5 stocks declining for every 4 that rose. Japan's Nikkei 225 Stock Average lost 0.8% after advancing 1% on the BOJ's announcement. South Korea's Kospi Index climbed 0.3%, whereas Australia's
The South Pacific currencies advanced versus the U.S. Dollar as the Bank of Japan declared it would introduce further monetary stimulus, boosting optimism for global growth. The Australian Dollar gained 0.2% to $1.0538 and traded at 94.14 yen from 94.23 yesterday. The New Zealand Dollar rose 0.5% to 84 U.S. cents and was at 75.03 yen from 74.91 a day
The Japanese Yen advanced from near 2 ½ year-low as the Bank of Japan announced it will do asset purchases from 2014. The Yen strengthened 0.4% to 89.23 per U.S. Dollar following a 0.6% decline earlier. It traded at 90.25 yesterday, the weakest level since June 23, 2010. Japan's currency gained 0.2% to 119.08 per Euro.
German equities climbed as Eurozone finance ministers meet today to discuss policies on resolving the debt crisis. The DAX index advanced 06% to 7,746.18 by 16:04 GMT. All groups in the index surged with the consumer services shares posting biggest gains. Deutsche Lufthansa rallied 3.5% after Credit Suisse Group AG increased the company's price target. The latter increase supported the
U.K. equities rose extending their gains for a third day as investors wait for the outcome of today's meeting of eurozone finance ministers and U.S. budget-ceiling agreement is awaited to be achieved in the nearest time. The FTSE 100 climbed 0.3%, or 20.84 points, to 6,175.25. All but two groups in the index advanced in the index. Admiral Group shares
Hong Kong blue chips fluctuated between gains and losses on Monday with the Hang Seng benchmark index staying close to its highest level in nineteen months. Hong Kong's gauge reached its highest since June 2011 on Friday amid report that indicated Chinese economy revived for the first time in two years. However, the Hang Seng index closed down 0.05% at