Gold spot price decreased by 0.3% to $1,722.88 an ounce during the U.S. trading session and in Singapore trading hours, slightly retreated up and was $1,723.88. Gold loses its value, as investors see signs that the U.S. economy is recovering, what is reducing demand for gold, as a conservative investment to diversify a portfolio. During the U.S. trading hours, the
Copper rebounded from the six-week lowest level on Tuesday amid belief that China, the biggest consumer, will create further measures to boost national growth, increasing demand for metals. Three-months copper traded at $7,953, after rising 0.7% to $8,009 per metric ton in London. January futures slid 0.5% in Shanghai, while December futures were flat at $3.6175 per pound in New
French business confidence declined unexpectedly in October, Insee reported on Tuesday. Benchmark business sentiment index slipped to 85 in October, compared to 90 in the preceding month, which was unchanged from August. Economists expected the index to stay flat in October too. Retail sector sentiment rose modestly, while confidence among service providers fell in October.
Oil trimmed a three-day fall in New York, while Brent futures fluctuated between gains and losses in London. On Tuesday, December-delivery crude added 17 cents to trade at $88.82 per barrel in New York, after surging 64 cents earlier today. Brent crude for the same month deteriorated 14 cents to $109.30 per barrel in London.
The Japanese Yen fell past 80 versus the U.S. Dollar for the first time in 3 months on speculation theta the Bank of Japan will add more stimulus. The Yen fetched 80.01 per greenback, the weakest level since July 6, before trading at 79.93 from 79.94 at yesterday's close. Japan's currency gained 0.1% to 104.35 per Euro.
Asia stocks traded mostly down as dividend concerns pressured Japanese utility firms, meanwhile steel producers weighed in Seoul. The Nikkei Sock Average was little changed, the Kospi slid 0.4% and the Shanghai Composite Index dropped 0.7%. Australia's S&P/ASX 200 added 0.1%, but Hong Kong stock markets were closed today.
On Monday, the loonie touched a 2-month low versus the greenback, amid speculation that the Bank of Canada would put less emphasis on increasing its rates during policy meeting on Tuesday. The Canadian currency was little changed, being traded at 99.42 cents per one unit of the U.S. currency by 99.42 a.m. in Toronto.
On Monday, the British Pound was gaining versus the U.S. counterpart, following a report which showed that the number of insolvencies in the U.K. declined by 3.1% last month, affecting 0.08% of all businesses. The Sterling grew by 0.2% versus the greenback to trade at $1.6034 by 11:44 a.m. in London.
Markit, a market research group, reported on Monday that the its household finance index declined in October, but at the slowest pace in almost 2 years, which may indicate that personal finances of Britons are bottoming out. The household finance index increased to 39.0 from the previous month's reading of 38.4, but still remained in the area of contraction.
On Monday, U.S. stock were rising, indicating the S&P 500 will rebound from the biggest selloff since the beginning of the summer, before firms from Caterpillar to Freeport-McMoRan report earnings. S&P 500 climbed 0.4% and reached 1,430.3 by 7:26 a.m. New York time. Earlier, it fell 1.7% on Friday.
On Monday, treasuries were traded lower, as the market sentiment was determined by an upcoming report on durable goods, which is widely expected to show another sign of recovery in the U.S. economy. The yield on benchmark 10-year notes increased by 4 basis points and reached 1.81% by 7:35 a.m. New York time, after falling 7 basis points on Friday.
German equities are trading little changed on Monday after a slump on Friday on lack of results from the EU summit and mounting uncertainty over Spain's bailout. Pushing German shares lower, US stocks tumbled on Friday after the largest companies reported dismal quarterly results. The DAX Index gained 0.02% and is currently trading at 7,382.16. Only three in nine sectors
On Monday, gold recovered after its fall on Friday, amid rising stocks and softening dollar, which is negatively correlated to gold. Spot prices for gold edged up 0.3% to trade at $1,724.45 per troy ounce by 10:45 a.m. in London. November delivery futures for the precious metal grew by $1.60, reaching the level of $1,725.60.
UK equities are trading slightly higher on Monday, rebounding after sharp drop on Friday. On Friday, lingering worries over Spanish bailout sent DAX Index 0.78% lower. Moreover, a fall in US equities and a drop in Japanese exports continued to weight on market sentiment. The FTSE 100 Index inched up by 0.07% to trade at 5,900.37. Six out of ten
On Monday, oil was traded higher, retreating from a 2-week low, as TransCanada Corp. announced that it will start its pipeline after the second delay, amid speculation that losses during last week were excessive. On the NYMEX, November delivery futures added $0.65 to trade at $90.70 per barrel at 11:04 London time.
Hong Kong shares posted mild gains on Monday on speculation that China's government will embark on easing measures to stimulate economy. However, negative news from the US and Europe weighted down on Hong Kong shares. Wall Street faced sharp losses on Friday as the largest companies reported weak quarterly results. At the same time, investors were disappointed by lack of
South Korea's currency is 15-20% undervalued, according to Eaton Vance Management analysts' estimations, which makes the domestic government bonds very attractive on the future perspective that the Won will appreciate. This year, South Korea's currency has strengthened by 4.4% reaching 11-month high at 1,102.5 per the U.S. Dollar, but improving domestic trade surplus and good future economic perspectives suggest that
Japanese equities inched higher on Monday, moving higher for the sixth session in a row. Hopes that BoJ will announce stimulus measures at its meeting on October 30 lifted Japanese shares. Broadly softer Yen boosted exporters. However, sharp fall in US stocks on Friday amid weak quarterly results capped gains of Japan's shares. The Nikkei 225 Index eased higher by
The Stoxx Europe 600 index edges lower by 0.1% to 273.8 points on early London trading session. Investors in Europe trade on announced earnings and denied mergers rumours. Also, investors take into account, that Prime Minister's party won Galicia area's election and maintained control in his native region. Later this day, investors' attention will be drawn by the U.S. companies'
The Australian Dollar, so-called Aussie, lost its value against major currency peers before inflation data this week. Investors are concerned that inflation will be in the lowest point in 13 years and that increases expectations that the domestic borrowing rate will be cut by the central bank. The Australian Dollar remains lower after a last two-day drop versus the U.S.
US blue chips posted losses on the 25th anniversary of the 1987 stock market crash. Weak quarterly results and a fall in the US existing home sales created pressure on the US blue chips. Lack of results from two-day EU summit also dampened market sentiment. The Dow Jones Industrial Average Index dropped 1.52% to close at 13,343.51. All sectors included
On Monday, copper reached a 1-month low, following a decline in both U.S. and Asian stocks, and the data that showed lower than expected exports of Japan. On the London Metal Exchange, three-month copper decreased by 0.1% to trade at $8,008 per metric tonne by 05:12 a.m. London time. Earlier, it hit $7,964.25, which was the lowest since Sept. 10.
US stocks traded sharply lower on Friday amid disappointing US economic releases and lack of progress in eurozone's crisis resolution after EU summit. Weak corporate earnings and larger-than-expected increase in US jobless claims last week created heavy selling pressure on the US equities. The S&P 500 Index plunged 1.66% to end the week at 1,433.19. All sectors included in the
Japan showed a merchandise trade shortfall of Y558.555 billion in September, led by heavy drop in exports to China and Europe, the Ministry of Finance reported on Monday. Economists expected a deficit of Y547.9 billion, after a downwardly revised Y755.9 billion in August. Exports slid 10.3% on year to Y5.359 trillion, exports to China shrank 14.1%, while those to EU