Base metals rallied on Monday on rising hopes that the Fed will keep its monetary policy loose as the US economy has not strengthened enough yet. However, dismal economic data releases from the Eurozone and Japan restricted an upward trend of industrial metals. Meanwhile, elevated inventory levels at LME-monitored warehouses also weighed on the commodity group.Aluminum surged on better demand
Precious metals rose on Monday, being supported by broadly weaker greenback and speculation that the Fed will not tighten its ultra-easy monetary policy. However, dismal data from the Eurozone limited losses of the US Dollar thus capping gains of the commodity group. Meanwhile, market players continued to wait for the FOMC statement due on Wednesday.Gold climbed 0.53% amid mounting hopes
The kiwi dollar reached the highest level in five weeks versus the Australian peer as house prices in New Zealand increased at the fastest pace in 5 years last month and card spending rose. The Aussie weakened versus its major counterparts as business confidence fell to the lowest level since 2009. The New Zealand Dollar gained 0.1% to 83.54 U.S.
German equities were little changed as Greece rescheduled the deadline on bond buyback offer and Italy's Prime Minister announced of his resignation after the former Prime Minister withdrew his support for the government, while Berlusconi seeks to return to power. The shares were also affected by Greece extending a deadline to spend 10 billion euros to buy back the sovereign
Most European stocks dropped triggering a decrease in the Stoxx Europe 600 Index from its 18-month high, after Italy's Prime Minister Mario Monti pledged he would resign as soon as the budget for 2013 is approved, causing concerns that this might damage efforts to reduce the nation's debt. Meanwhile, Berlusconi said to seek for premiership in the next year's election
Hong Kong shares advanced on China-related equities, as optimism was raised by hopes on economic recovery. Chinese property led gains as investors persisted to purchase into one of the year's best performing sectors. The investors mainly focused on mainland-related property, banking and resource businesses. The Hang Seng index surged 0.4% to 22,276.7, below last week's high. The gains were capped
Japanese shares fell after data showed the nation's economy, as the GDP shrank an annualized 3.5% in the third quarter and banks forecast another contraction in the fourth quarter on falling exports and weak domestic demand. The equities rose earlier as U.S. employment data topped estimates. Moreover, the improvements in the stock market are capped by a slowdown in the
U.S. equities rallied on Friday, as the employment growth forecasts had been boosted up after Friday's employment report and orders for equipment data showed the highest reading in eight months. In addition, service industries grew faster in November. The increase in stocks was also triggered by more positive view on the budget talks, as Congress and Administration seem to close
U.S. shares advanced on Friday for the third consecutive week, after positive employment data prompted for higher forecasts and budget agreement is likely to be reached in Washington. The employment rate dropped to the lowest level in four years to 7.7%.The S&P 500 surged 0.1% to 1,418.07. The gauge is 0.7% down since Barack Obama was re-elected in the presidential
German equities were little changed as Greece rescheduled the deadline on bond buyback offer and Italy's Prime Minister announced of his resignation after the former Prime Minister withdrew his support for the government, while Berlusconi seeks to return to power. The shares were also affected by Greece extending a deadline to spend 10 billion euros to buy back the sovereign
The Japanese economy fell into technical recession, when contracted two successive quarters, the Cabinet Office reported on Monday. Economic output of the country declined 3.5% annually in the quarter ended in September following a fall of 0.1% in the Q2. Private consumption and capital spending had the biggest impact on contractions, when both were down 0.4% and 3%.
Most European stocks dropped triggering a decrease in the Stoxx Europe 600 Index from its 18-month high, after Italy's Prime Minister Mario Monti pledged he would resign as soon as the budget for 2013 is approved, causing concerns that this might damage efforts to reduce the nation's debt. Meanwhile, Berlusconi said to seek for premiership in the next year's election
Hong Kong shares advanced on China-related equities, as optimism was raised by hopes on economic recovery. Chinese property led gains as investors persisted to purchase into one of the year's best performing sectors. The investors mainly focused on mainland-related property, banking and resource businesses. The Hang Seng index surged 0.4% to 22,276.7, below last week's high. The gains were capped
The Rand fell from the highest level in a month versus the U.S. Dollar, posting first loss in six days, ahead of growth data, which showed the increase in prices. Consumer prices in November grew 5.6% from the previous year and were unchanged from October. The Rand depreciated 0.4% against U.S. Dollar and traded at 8.6863 per Dollar, following gain
The Yen strengthened against the Euro to almost two-week high on Mario Monti, Prime Minister of Italy, announced his intention to step down, increasing concerns that changing political situation may ditch efforts to escape the Eurozone debt crisis. Japan's currency advanced 0.4% and traded at 106.29 per Euro, following gain to 105.98, the highest level in two weeks, and gained
Japanese shares fell after data showed the nation's economy, as the GDP shrank an annualized 3.5% in the third quarter and banks forecast another contraction in the fourth quarter on falling exports and weak domestic demand. The equities rose earlier as U.S. employment data topped estimates. Moreover, the improvements in the stock market are capped by a slowdown in the
U.S. shares advanced on Friday for the third consecutive week, after positive employment data prompted for higher forecasts and budget agreement is likely to be reached in Washington. The employment rate dropped to the lowest level in four years to 7.7%.The S&P 500 surged 0.1% to 1,418.07. The gauge is 0.7% down since Barack Obama was re-elected in the presidential
Greece announced extending a deadline to 11 of December in order to attract more proposals from bondholders, as the Public Debt Agency revealed on Monday. The country has a plan to reduce its debt by buying bonds back with a par value of 30 billion Euros to upgrade its debt profile. Greece will spend 10 billion Euros for bonds
Turkey's economic growth was 1.6% in the third quarter, which was worse than a 2.6% growth expected by economists, according to Turkish Statistical Institute's report on Monday. Turkey's economic expansion eases, as the growth rate decreased from 3% in the second quarter. Also, other report showed, that industrial output dropped by 5.7% on annual basis.
French industrial output slipped by 3.6% on annual basis in October, comparing with 2% loss in the last month, according to the statistical office Insee's report on Monday. Manufacturing output was lower by 4% comparing with last year and that was sharper decline, than a 0.3% drop expected by economists. On the monthly basis, manufacturing lost 0.9% following a 3.4%
The Stoxx Europe 600 Index fell by 0.2% to 278.54 points in the very beginning of Europe trading session on Monday. European stocks slipped from a 18-month high, as the Italy's Prime Minster revealed his resignation plan. Markets are concerned about possible changes in the government, which might bring difficulties in national debt control. Monti said that he is considering
Gold futures for a February settlement were 0.2% higher, or up by $2.00, to $1,707.50 an ounce in Asian trading session in the New York Mercantile Exchange on Monday. Investors were positive for the precious metal, after mixed economic data: China's industrial output sharply increased, but export and trade surplus disappointed. Also, Friday's job data from the U.S. exceeded forecasts.
The Hang Seng Index stepped higher by 0.7% to 22,343.41 points in the middle of Hong Kong trading session Monday. Stocks started the sessions with a spike up, after the last two negative sessions, as China's industrial data was very positive, indicating 10.1% output increase over the year in November and after Friday's better than expected labor data in the
The Euro lost 0.1% of its value against the Dollar to $1.2913 and 0.2% to 106.44 versus the Yen in the early morning at London time on Monday. The Euro slipped in the lowest level in last two weeks after the Prime Minister of Italy said that he is considering a resignation, what raised concerns that changes in the government