On Wednesday, prices for gold declined in Asian trading hours amid disappointing housing data from the U.S. On the NYMEX, December delivery futures for gold were traded at $1,764.65 per troy once, which was 0.10% decrease for the session. Earlier, prices for gold contracts hit a session high of $1,764.95 and a session low of $1,761.55 a troy once.
On Wednesday, futures for crude were declining in Asian trading hours, as profit takers were selling the commodity, sending prices down. On the NYMEX, November delivery futures for light sweet crude were traded at $90.94 per barrel, which was a 0.47% decline for the trading session. Earlier, prices hit a session high of $90.97.
Rural commodities were mixed on Tuesday, with sugar and coffee climbing and grains retreating. Broadly stronger US Dollar and Eurozone's woes continued to weight on potential demand for agricultural commodities. Wheat slumped the most in a week on speculation that Russia, the world's third largest exporter, will not impose export restrictions despite lower crops after drought. Corn closed lower on
The Aussie dropped and government bonds gained as European leaders' disgreements over resolving the debt-crisis cut demand for riskier assets. The Aussie slid 0.4% to $1.0352, after touching $1.0345, the least since Sept. 11. It lost 0.5% to 80.47 Yen, after reaching 80.41 Yen, the weakest since Sept. 6. The 10-year note yield traded at 3.05%, the least since Sept.
Energy commodities except for crude oil climbed on Tuesday amid positive economic releases from the US and encouraging POBC comments. On Tuesday, the POBC injected about USD46 billion into economy through repos and announced that further fine-tuning is possible. However, comments of Fed official that the Fed policies may prove to be inefficient in boosting US economy restricted gains of
Industrial metals rallied on Tuesday amid positive headlines from the US. Supporting the metals, the POBC stated that it will adjust its monetary policy to stimulate slowing economy. Limiting the upswing, Charles Plosser, Fed member, warned that current measures of the Fed may not stimulate US growth and may even jeopardize the bank's credibility. Aluminum added 1.2% on encouraging comments from
Asia stocks tumbled on Wednesday with severe losses in Tokyo amid an ex-dividend trade, while global growth concerns weighed on commodity firms. The Nikkei Stock Average dropped 1.9%, the Hang Seng Index slipped 0.9%, while Kospi and Shanghai Composite both lost 0.6%. Australia's S&P 200 index retreated 0.3%.
Precious metals apart from platinum moved lower amid upbeat data from the US. The US consumer confidence soared to seven-month high while home prices surpassed forecast in July, signaling that US economy is improving. Gold retreated despite demand and supply-side support. AnlgoGold Ashanti suspended production in South African mines amid spreading miners' strikes. Meanwhile, recent IMF data indicated that central
New Zealand's economy posted its largest annual trade deficit in 3 years, with exports declining to a 19-month low due to a fall in diary shipments. Trade balance slid to a deficit of -789 million in August, from upwardly revised 97 million in July and exceeding analysts' estimate of -630 million. Exports slipped to 3.32 billion from 4.05 billion in
The Euro slipped to a two-week low before the data expected to show decreases in Italian retail sales and European consumer sentiment. The common currency tumbled 0.2% to $1.2868, the lowest since Sept. 13. The Euro lost 0.4% and traded at 99.98, after reaching 99.97 Yen, again the weakest level since Sept. 13.
U.S. stocks edged higher on Tuesday, September 25, as reports on consumer confidence and the housing market showed some improvement. The Dow Jones Industrial Average rose 0.40%, to 13,612.84; the Standard & Poor 500 Index added 0.43%, to 1,463.19, while Nasdaq 100 futures jumped 0.47%, to 3,175.76.
Home prices in the U.S. rose more than expected in July, adding signs that nation's property market is improving, the S&P/Case-Shiller said Tuesday. Index of property value increased 1.2%, from a year earlier, while analysts had predicted U.S. house prices to rise by 1.1%.
German shares advanced on Tuesday, erasing previous losses on dismal German Ifo business climate data. However, anticipation of key US data due later in the day capped the upswing of German equities. The DAX Index climbed 0.11% to trade at 7,421.30. Five out of nine sectors included in the index inched up. Leading the gains of German stock index, technology
UK equities are trading slightly higher on Tuesday ahead of the key talks between Angela Merkel and Mario Darghi due later in the day. Persistent worries over spreading debt crisis in the region coupled with increased cautiousness ahead of US consumer confidence data weighted down on the UK shares. The FTSE 100 Index inched up 0.17% and is currently trading
Hong Kong shares were steady on Tuesday amid the national economic growth concerns. Recently, Standard & Poor's has revised down its China's 2012 growth estimate from 8% to 7.5%, citing government's reluctance to launch stimulus measures. Hopes for further RRR cuts were dampened on Tuesday after the POBC announced that it would pump 290 billion Yuan into the financial sector
Japanese equities rebounded slightly on Tuesday as market participants were encouraged to buy more shares ahead of the mid-term divided deadline due on Wednesday. At the same time, global growth concerns fuelled by dismal German Ifo business climate data restricted the upswing. The Nikkei 225 Index added 0.25% to close at 9,091.54. Six out of ten sectors within the index
US blue chips inched down on Monday amid lingering worries over financial instability in Eurozone. German Ifo business confidence index dropped more-than-expected in September while German and France still cannot agree on when to launch the banking union. Adding to the negative mood of the US blue chips, Spain's economy minister said that the country would not rush to apply
US stocks started the week on the negative note amid dismal data from Eurozone. Leaders of France and Germany failed to agree on terms of the banking union over the weekend. Moreover, German Ifo business climate index missed expectations in September, adding to fears that Eurozone will fall deeper into recession. The S&P 500 Index lost 0.22% to close at
Confidence among U.S. consumers rose more than expected in September, reaching seven-month high, the Conference Board said on Tuesday. A gauge of consumer confidence rocketed to 70.1 this month, up from 61.3 in the prior month. Leading indicator, which measures overall economic activity, was expected to rise to 63.1.
The Swiss National Bank has bought around 80 billion euros of sovereign debt in the euro area's core countries during the first seven months of 2012, to stem the appreciation of national currency, Standard & Poor's said on Tuesday.
Japanese corporate service price index fell more than expected in August, posting a third straight drop, the Bank of Japan said on Tuesday. Nation's CSPI fell to a seasonally adjusted annual rate of -0.3% from the previous month, after falling a revised 0.1% in July. The reading came in lower than the median analyst forecast of -0.2%.
Germany's consumer sentiment is set to hold stable in October, GfK's survey results showed on Tuesday, which modestly eased concerns about the economy falling into recession.The forward-looking index seen at 5.9 in October is in line with economists' forecast. The economic sentiment index added 1.7 points, while the willingness to purchase stagnated and income expectations index fell 7.7 points.
Treasuries seized a six-day rally on Tuesday ahead of industry reports forecast to show U.S. consumer sentiment and property prices surged. The 10-year yield traded at 1.72%, while the 1.625% bond due in August 2022 was unchanged at 99 6/32. The 10-year term premium was negative at -0.9%, after declining to -0.91 yesterday.
Institut National de la Statistique et des Études Économiques reported on Tuesday that the French business confidence for the quarter ended in September was equal to 90 on an annualized basis, unchanged from the same reading for a previous quarter. Economists, however, expected that French business confidence would decline to 89.