Energy futures, excluding natural gas dropped on Friday as growing China's inflationary pressure dampened expectations for more loose monetary policy in the country. Weak US trade data also weighed on energy prices. Meanwhile, traders remained cautious ahead of a speech by Ben Bernanke due on Monday.Crude oil slid on disappointing figures from the US and China. Putting additional pressure, US
Industrial metals apart from nickel were bearish on Friday amid profit-taking and China's inflation reading. China's inflation rose more-than-expected last month, weighing on the country's stimulus hopes. Weak data from the US as well as elevated LME inventories put additional pressure on base metals.Aluminum declined as investors sold the metal to take profits after a recent increase in prices. Meanwhile,
EUR/USD pair increases for a third consecutive day, still maintaining a bullish momentum from the ECB decision to leave the interest rate unchanged.
As USD/CHF pair has settled in the lower part of Bollinger bands on Friday, the pair fluctuates around a 0.9124 level, which was the support for a price's reverse after Christmas break.
USD/JPY pair appreciates further making a high at 89.67, the highest level since June, 2010.
The Cable fluctuates around the 20-day SMA for a third session, as the price sharply surged from the lower Bollinger band last week.
Precious metals except for platinum finished the week on the negative note after the data showed higher-than-expected inflation in China last month. Chinese CPI rose to an annual rate of 2.5% versus a forecast of 2.3%. Inflationary pressure weighed on expectations for stimulus from the POBC. Gold sank as accelerating inflation in China created notable pressure. However, the yellow metal
The Indian Rupee was higher by 0.1% to 54.7250 per U.S. Dollar in early Mumbai trading session on Monday. The Indian currency extended its 0.6% positive performance in last week, which was the biggest gain since November. The main reason for a such Rupee's appreciation is a capital inflow, as overseas investors purchase various classes of assets. According to exchange
The Australian Dollar lost 0.3% against the New Zealand Dollar to 1.2564 in the end of Sydney trading session on Monday. The Aussie slipped against the New Zealand counterpart, as the amount of home loans unexpectedly decreased, increasing speculation, that the larger South Pacific country's central bank will reduce borrowing costs further. The Aussie was higher by 0.2 to $1.0560
The Yen dropped 0.5% to 89.60 per Dollar and lost 0.9% to 120.07 per Euro in the middle of Singapore trading session on Monday. The Japanese currency weakened against the Dollar to the lowest level since June, 2010 and versus the Euro reached the weakest level since May, 2011. Markets trade the Yen negative on speculation, that Abe Schinzo, Japanese Prime Minister,
Japanese equities extended their gains for a third consecutive day after the Japanese government announced a stimulus package of 3.8 trillion yen to recover the nation's economy from recession and 3.1 trillion yen ti boost up investment. In addition, exporters advanced on weakening Yen. The Nikkei 225 rose 1.4% to 10,801.57, gaining 1.1% throughout the week. Sharp Corporation rallied the
German shares slightly decreased, as ThyssenKrupp AG and RWE AG declined and offset hopes for Japanese monetary stimulus launch to accelerate the pace of growth for economic recovery in Germany. The DAX index eased 0.1% to 7,699.95 by 17:00 p.m. in Frankfurt. Five out nine groups in the index edged lower. Commerzbank shares erased 4%, the most in three weeks,
U.K. shares were little changed, sending the FTSE 100 index for its weekly advance, after Japan's government called for more monetary stimulus. The FTSE 100 index gained 0.1%, or 8.34 points, to 6,109.85. All but two sectors in the benchmark index inched higher. International Consolidated Airlines rallied the most in the gauge by 4.9% after UBS AG upgraded its recommendation
The Hong Kong blue chips retreated after data showed inflation was higher-than-expected in December, raising hopes for more monetary stimulus to heal the nation's economy. The Hang Seng index slid 0.4% to 23,264.07, showing a weekly drop of 0.3%. All but one sector in the gauge edged lower. Basic materials posted biggest losses and were 3.30% down. A decline in
Japanese equities extended their gains for a third consecutive day after the BOJ announced a stimulus package of 3.8 trillion yen to recover the nation's economy from recession and 3.1 trillion yen to boost up investment. In addition, exporters advanced on weakening Yen.The Nikkei 225 rose 1.4% to 10,801.57, gaining 1.1% throughout the week. Sharp Corporation rallied the most by
Industrial output of the British economy rose below economists expectation by 0.3% in November, despite growing gas and oil extraction on the largest British North Sea field, which underline the fact the U.K. economy contracted in the Q4. Manufacturing production decreased 0.3% in the same month compared to prior expectation of 0.5% gain, following a 1.3% fall recorded in October. "It's a disappointing set of data. We
U.K. stocks remained almost unchanged after an unexpected drop in manufacturing output offset a package of monetary easing from Japan's government. The FTSE 100 declined 5.92 points, or 0.1%, to 6,095.59, while the FTSE All-Share Index remained unchanged and Ireland's ISEQ Index soared 0.3%.
China's stocks plunged the most among Asian markets as a report indicating inflation increased more than prediction, limiting room for stimulus measures to support the recovery of economy. The Shanghai Composite Index fell 1.8% to 2,243, while the CSI 300 Index lost 1.9% to 2,483.23 and the Hang Seng China Enterprises Index soared 0.8%.
Asian stocks plummeted on overheating signs after China's inflation accelerated. Japanese shares surged as the Cabinet approved monetary-easing measures. The MSCI Asia Pacific Excluding Japan Index dropped 0.3% to 476.07, while China's Shanghai Composite Index fell 1.8%; Hong Kong's Hang Seng Index declined 0.4% and Australia's S&P/ASX 200 Index soared 0.3%. Whereas South Korea's Kospi Index lost 0.5% as its
Asian currencies reached a third weekly gain after a rebound in China's exports and Japan's 10.3 trillion Yen ($116 billion) spending package strengthen the outlook for a recovery of global economy. India's Rupee gained 1.4% to 54.5775 per greenback; Malaysia's Ringgit advanced 1.1% to 3.0195, while Thailand's Baht increased 0.9% to 30.25 and South Korea's Won rose 0.7% to 1,056.73.
The Pound Sterling debased versus the greenback and shared currency as a report indicated the U.K. manufacturing production dropped in November. The Pound fell 0.2% to $1.6129, while it weakened to 82.30 pence per Euro, down 0.3%. U.K. government bonds surged, with the 10-year yield declining one basis point to 2.08%.
Oil reached its fifth weekly gain after Saudi Arabia decreased production and investors speculated the recovery of global economy would increase fuel demand. WTI oil for February settlement dropped 2 cents reaching $93.80 a barrel, while futures climbed to $93.82, up 72 cents, the strongest since September. Meanwhile, Brent for February delivery fell to $111.65 a barrel.
The Australian Dollar, also called the Aussie, was lower by 0.1% to $1.0584 in the end of Sydney trading session on Friday. The Aussie weakened, as the currency has reached the highest level in four months recently, thus technical indicators implied an overbought situation and too rapid appreciation. Weakening economic situation and increasing unemployment in Australia force the RBA to
The Yen was trading by 0.3% lower at 89.09 per greenback in Tokyo trading session on Friday. The Japanese currency has reached a 89.35 level, which is the weakest since the 29th of June, 2010. The Yen sharply depreciates on expectations to experience monetary stimulus for the domestic economy from the BoJ and Prime Minister Abe's cooperation. The Yen slipped,