On Tuesday, crude was traded lower, following a Moody's decision to lower French rating, amid continuing unrest in the Middle East. On the Comex, January delivery futures for light sweet crude were traded at $88.60 per barrel, which was a 0.75% fall during U.S. morning trading session. Earlier, the commodity lost 1.1%, hitting a level of $88.31.
On Tuesday, natural gas was traded higher on an upcoming report on the commodity supplies. On the Comex, December delivery futures for natural gas were traded at $3.764 per million Btu, which was a 1.2% gain during U.S. morning trading session. Earlier, prices grew by 1.5%, hitting $3.777 per MMBtu, which was a session high.
The Council of Mortgage Lenders revealed on Tuesday that British mortgage lending increased last month on an annual basis. Overall mortgage lending gained 4% during the year ended October 2012, and reached a level of 12.9 billion Pounds. Last month's figure is the highest since the previous year's November, indicating the possible end of the recent recession.
German shares moved higher despite strong downward pressure from France's downgrade. Meanwhile, investors remained cautious ahead of the results of the eurozone's finance ministers meeting on the Greek bailout. However, the risk appetite was boosted by optimism over the US fiscal cliff. The DAX Index advanced 0.22% and is currently trading at 7,139.33. Five out nine sectors within the index
UK equities retreated on Tuesday as Greek bailout talks weighted on the market sentiment. Sending the UK stock index lower, Moody's cut French debt rating from Aaa to Aa1 and put the country on the negative outlook. At the same time, easing concerns over the US fiscal cliff and positive US data capped gains in the UK blue chips. The
Hong Kong shares ended lower on Tuesday amid lingering concerns over the eurozone's economy. European finance ministers are set to discuss Greek bailout terms later in the day. Moreover, Moody's cut France's debt rating from Aaa to Aa1 and kept a negative outlook. Domestic data also pushed Hong Kong shares lower. Chinese FDI plunged by annualized 0.24% last month, falling
Japanese shares dipped on Tuesday, halting four-day winning streak as traders booked profits in companies that soared on hopes that opposition party will win next month election. Adding to losses in Japanese equities, the BoJ refrained from new stimulus measures. Experts predict the BoJ to announce fresh easing measures at the next meeting in December. The Nikkei 225 Index dropped
Japanese shares dipped on Tuesday, halting four-day winning streak as traders booked profits in companies that soared on hopes that opposition party will win next month election. Adding to losses in Japanese equities, the BoJ refrained from new stimulus measures. Experts predict the BoJ to announce fresh easing measures at the next meeting in December. The Nikkei 225 Index dropped
Japanese shares dipped on Tuesday, halting four-day winning streak as traders booked profits in companies that soared on hopes that opposition party will win next month election. Adding to losses in Japanese equities, the BoJ refrained from new stimulus measures. Experts predict the BoJ to announce fresh easing measures at the next meeting in December. The Nikkei 225 Index dropped
Japanese shares dipped on Tuesday, halting four-day winning streak as traders booked profits in companies that soared on hopes that opposition party will win next month election. Adding to losses in Japanese equities, the BoJ refrained from new stimulus measures. Experts predict the BoJ to announce fresh easing measures at the next meeting in December. The Nikkei 225 Index dropped
Regardless of growing need for further stimulus, the BOJ resisted to political pressure and did not introduce more monetary measures. The decision on rejecting the plan to stimulate the economy was made, after Shinzo Abe, main opposition's leader and possibly Japan's next prime minister, pledged he would put more pressure on BOJ to ease the currency and rebound Japanese weakening
The Euro reached its highest level in nine days versus the greenback, as the eurozone's ministers meet today to discuss the possible ways on filling the 15-billion euro gap in Greek finances. European shared currency traded at $ 1.2803, after jumping to $ 1.2823. Although Moody's Investors Service downgraded France's top credit rating, the common currency stayed little changed against
U.S. building permits jumped to their highest level in four years in October, showing recovery signs in housing market. According to Commerce Department, housing starts gained 3.6% to 894,000 units on seasonally adjusted basis, reaching the highest rate since July 2008. The experts said that the hurricane Sandy did not have much impact on the data.The Federal Reserve has chosen
Swiss trade surplus widened significantly in October, according to data released by the Federal Customs Administration. The trade surplus jumped from CHF 1.93 billion in September to CHF 2.8 billion in October. However, the exports dropped 7.7% adjusted to year-on-year basis in October, after a decline of 6.4% the prior month. Meanwhile, the imports rose 4.6% year-on- year last month,
Dow rallied on Monday on the US fiscal hopes and better-than-expected numbers from the housing market. However, market players remained cautious as the EU finance ministers are set to discuss Greek bailout terms on Tuesday. The Dow Jones Industrial Average Index soared 1.65% to close at 12,795.96. All companies included in the index advanced. The top-performers were telecommunications and basic
US stocks surged on Monday on rising optimism over the US fiscal cliff. US lawmakers are expected find a compromise on the new US budget till January 1. Moreover, better-than-expected existing home sales last month lifted US equities. The S&P 500 Index rallied 1.99% to close at 1,386.89. All but one sector within the index soared. Technology and basic materials
Farm commodities advanced on Monday as broadly softer US Dollar boosted appeal of the commodity group. Moreover, a recent fall in prices created bargain buying opportunities for the market players. At the same time, weak demand for US supplies and rising production in Brazil weighted down on rural commodities. Wheat rebounded after the USDA reported that only 34% of the
Energy futures apart from natural gas moved higher on Monday, supported by broadly softer greenback and rising optimism over the US budget approval. From the supply side, the commodity group also found support as tensions between Israeli and Hamas militants escalated.Crude oil jumped on brighter demand prospects amid optimism over the US fiscal cliff and signs of the US housing
Base metals soared on Monday on improved sentiment as the US is expected to escape budget clashes and find a compromise on looming tax hikes and spending cuts. At the same time, the upswing remained capped as traders were cautious ahead of Greece's bailout talks due on Tuesday. Aluminum climbed on optimism that the US policymakers will avert fiscal cliff.
Precious metals rallied on Monday amid broadly weaker US Dollar and rising optimism over the US budget. US President Barack Obama reassured investors that he will manage to reach consensus with Congress on new budget. Meanwhile, market players remained focused on escalating tensions in the Middle East and Greek bailout talks.Gold jumped, buoyed by the US Dollar weakness. Moreover, hopes
The Japanese Yen rose from near seven-month low as the BOJ refrained from easing, which tends to debase the currency, and kept policy unchanged amid calls for unlimited easing by the opposition party. The yen gained 0.2% to 81.28 per greenback at 6:57 a.m. in London. It fetched 81.59 yesterday, the lowest level since April 25. The currency rose 0.4%
Canada's Dollar strengthened the most in a month versus the U.S. peer as the IMF considers classifying the Lonnie and Aussie as reserve currencies. The Canadian Dollar gained 0.5% to 99.63 cents per greenback after advancing as much as 0.6%, the most since October 17. The Loonie traded below parity with the U.S. Dollar last week and touched the lowest
Italian industrial orders tumbled in September after advancing in the prior two months, according to data released by the statistical office Istat. The orders dropped 4% in September, after increasing 0.6% and 2.7% in August and July, respectively. Industrial orders have decreased 12.8% compared on annual basis, whereas the industrial turnover tumbled 11% compared with last year's September.
The dollar depreciated against its major counterparts after U.S. lawmakers pledged they would reach consensus on the nation's budget to avoid the so called fiscal cliff. The Dollar index tumbled 0.3% to 81.046, as Barack Obama pledged an agreement would be achieved to avert automatic spending cuts and tax increases. The greenback fell 0.2% to $1.2771 per euro, after declining