The Yen weakened versus most of the major counterparts, as Asian stocks gained and U.S. data that may show an increase in industrial production and housing starts, curbing demand for haven assets. The Yen lost 0.3% to 78.89 per U.S. Dollar, after touching 78.91, the weakest level since September 19. The Yen fell 0.4% to 102.27 per Euro.
Asian stocks rose on Tuesday, lead by better-than-forecast U.S. retail sales, pushing Dow Jones Industrial Average 0.7% up, and a rebound of Softbank Corp.'s shares in Tokyo. The Nikkei surged 1.2%, the Kospi added 0.9%, while the S&P/ASX 200 and the Hang Seng indices both advanced 0.3%. The Shanghai Composite index gained 0.5%.
Wall Street rose on Monday, as retail sales in the U.S. and Citigroup (C) Inc.'s earnings topped estimates. The Dow Jones Industrial Average advanced 0.74%, to 13,427.58; the Standard & Poor 500 Index jumped 0.73%, to stand at 1,438.91, while Nasdaq 100 futures added 0.52%, to 3,059.83.
European stocks edged higher on Monday, October 15, after better-than-expected U.S. retail sales and hopes that Spain is going to request a sovereign bailout soon The Stoxx Europe 600 Index rose 0.51 per cent to 270.80. Germany's DAX Index edged higher 0.40 per cent to 7,261.25 and France's CAC 40 Index jumped 0.92 per cent to 3,420.28.
German shares jumped on Monday after encouraging retail sales data. However, uncertainty over whether Spain will apply for a bailout created pressure on German equities. The DAX Index gained 0.32% and is currently trading at 7,255.36. All but one sector included in the index rose. The top-gainers were technology firms and basic material producers. SAP advanced 1.03% while BASF and
UK shares rose after US report indicated that retail sales advanced for the third month in a row. Pushing the UK equities higher, Ernst and Young Item Club stated that UK economy is likely to rebound in H2 of 2012. The Item Club announced that the country's economy will grow by 1.2% in 2013 and by 2.4% in 2014. However,
Hong Kong stocks started the week on the positive note after national inflation data indicated that the CPI jumped less than expected last month. Lower inflationary pressure fueled speculation that the central bank of China may ease its monetary policy. However, profit warnings from the largest China's companies restricted the upward trend of Hong Kong equities. The Hang Seng Index
Japanese shares moved higher on Monday amid mounting hopes that the POBC will loosen its prudent monetary policy as China's CPI climbed less than expected last month. Capping the upswing of Japanese equities, the national industrial production tumbled more than expected in September. The Nikkei 225 Index jumped 0.51% to end the session at 8,577.93. Six out of ten sectors
US blue chips edged higher on Friday on encouraging US numbers. US UoM consumer sentiment jumped to 83.1 on a seasonally adjusted basis in September compared to forecasts of reading of 78.0. However, persistent concerns over eurozone and profit warnings created heavy pressure on the US blue chips index. The Dow Jones Industrial Average Index added 0.02% to end the
US shares slumped on Friday as market participants were concerned that Q3 profits would be lower than forecast. At the same time, upbeat US consumer confidence data limited losses of the US stocks. Meanwhile, traders remained cautious ahead of the key China's data due next week. The S&P 500 Index dropped 0.30% to close at 1,428.59. Four in ten sectors
On Monday, the British Pound held steady, being close to a 1-month low versus the U.S. Dollar amid possibility of further monetary easing by the Bank of England. The Sterling was traded at $1.6078 at 4:59 a.m. London time, staying close to $1.5975, which was a one-month low. Earlier, the Pound hit a session high of 1.6080.
On Monday, treasuries were traded lower, ending a 5-day long streak of gains, as U.S. retail sales showed a higher increase than expected, which added to the signs that the economy is improving, decreasing the demand for safer assets. The yield on benchmark 10-year notes added 1 basis points, and reached 1.66%, following a 0.09% fall the week before.
On Monday, the 17-nation currency was traded higher versus the U.S. Dollar, but was traded in a tight range, remaining a hostage of Spanish uncertainty. The Euro hit a session high of 1.2978, and subsequently consolidated at 1.2958 by 2:52 p.m. London time. The Euro earlier hit a session low of 1.2892.
On Monday, futures for gold were traded lower, declining to a 13-day low, since uncertainty over Spain supported the demand for the safe U.S. Dollar, which is negatively correlated with the commodity. On the NYMEX, December delivery futures for gold were traded at $1,748.35 per troy ounce, which was a 0.65% decrease for the European morning trading session. Earlier, prices fell by 0.9%, reaching a
On Monday, crude was traded lower during European morning trading hours, as the slowdown of Chinese economy buoyed the sentiment. On the NYMEX, December delivery futures for light sweet crude were traded at $92.02 per barrel, which was a 0.3% decline for the trading session. Earlier, prices for contracts fell by 1.05%, hitting a session low of $91.31.
On Monday, copper prices declined to a one-month low in European morning trading session, amid concerns that Chinese slowdown is more severe than expected, and uncertainty over Spanish bailout. On the NYMEX, December delivery futures for copper were traded at $3.691 per pound, which was a 0.3% fall for the trading session. Earlier, it hit $3.646, which was the lowest since Sept. 10.
The Swiss Federal Statistical Office reported on Monday that its PPI grew more than expected, continuing the streak of increases. Producer price index increased to 0.3% on a seasonally adjusted basis last month, compared to a reading of 0.5% in the preceding month. Analysts, however, expected that the index would be equal to 0.2%.
The New York Federal Reserve reported on Monday that its manufacturing conditions index increased less than expected. Empire State manufacturing index advanced to minus 6.2 this month, compared to a a reading of minus 10.4 last month. Economists, however expected that manufacturing conditions would improve more, with an expected reading of the index equal to minus 4.5.
The U.S. Census Bureau reported on Monday that U.S. retail sales added more than it was expected. Retail sales witnessed a 1.1% growth, compared to a figure of a 1.2% gain, which was revised upwards and became the biggest advance since October 2010. Economists, however, expected that retail sales would increase by 0.8%. Retail sales, not including gasoline, building materials, and autos, which is perceived as
On Monday, William Dudley, President of the Federal Reserve Bank of New York, said in his speech that Fed was not going to change its monetary policy, following first optimistic news, and that the policy would evolve only when Fed would be confident about securely established recovery. He explained the decision saying that the monetary policy at the beginning of financial crisis was not aggressive enough
Agricultural commodities dropped on Friday after the USDA released its global supply report, indicating that demand for US exports is slowing. At the same time, broadly weaker US Dollar limited losses of the commodity group.Wheat retreated from two-week high on signs that demand for US exports is weakening. US farmers sold by 8.8% less wheat in the week ended October
Energy futures apart from natural gas faced losses on Friday. The EIA reported that global demand may weaken after supply uncertainties in the Middle East and North Sea lifted energy prices. At the same time, broadly weaker US Dollar limited the downswing of the commodity group.Crude oil eased down on global demand concerns amid inflated prices. Crude oil rallied almost
Industrial metals were bearish on Friday amid persistent uncertainty whether Spain will apply for the next bailout and whether Greece will be granted more time to meet its deficit targets. Meanwhile, market players continued to anticipate key numbers from China scheduled to be released over the weekend. Aluminum extended previous losses as Chinese smelters are expected to continue increasing output
Precious metals fell on Friday despite mounting hopes that global central banks will loosen their monetary policies further. Even weaker US Dollar failed to support the commodity group. Gold dropped by 0.74% despite potential increase in inflation amid global easing measures. Meanwhile, hedge funds raised their positions in the yellow metal to the most bullish in more than a year.