European stocks markets faced a strong session on Friday after finance ministers supported the increase of Euro Zone firewall. Stoxx Europe 600 index added 1% on Friday and closed the quarter with a 7.7% gain. German DAX also climbed 1% on daily basis and has advanced quarterly 17.8%. British FTSE 100 gained 0.5% on Friday and 3.5% for the quarter
Gold futures advanced during Asian session on Monday as traders turned to alternative investment options apart from the US Dollar after upbeat China's manufacturing news spurred the optimism over the world largest producer. COMEX gold futures for delivery in June traded at 1,674.55 US Dollars per troy ounce on the New York Mercantile Exchange, gaining 0.16%.
Canadian GDP expanded by 0.1% in January on a seasonally adjusted basis as compared to a 0.5% rise in December, reported Statistics Canada. The figure is in line with expectations. After the data release, Canadian Dollar remained moderately lower against its US counterpart and the pair USD/CAD ended the last week at 0.9983, gaining 0.15%.
China will import oil from Iran due to strong demand and will not be impacted by sanctions of ‘some country', said Zhang Guobao head of Chinese National Energy Administration. The attempt to halt Iranian oil imports has already created global economic difficulties while the planned release of the strategic oil reserves will ease energy's inflationary pressure only in the short
The index measuring US consumer confidence attained a 13-month record high in March lifted by optimism about income and labour market. A gauge climbed from 75.3 in February to 76.2 in March. The reading surpassed the analyst expectations who predicted the index to be at 74.7. Most stocks appreciated on Friday.
Australian manufacturing activity contracted in March amid firm Australian Dollar and weak global demand. The PMI declined by 1.8 points, attaining 49.5 last month on a seasonally adjusted basis. The major contracting industries were clothing, wood products, furniture and footwear. At the same time transport equipment and machinery indicated expansion.
An improvement in Chinese manufacturing activity in March weakened the probability the government will apply policy easing despite HSBC report which showed exporters are facing difficulties. The official PMI reached 53.1 in March or a one-year record high, said government on Sunday. In contrast HSBC and Markit Economics PMI gauge suggested manufacturing activity contracted previous month.
USD/CHF tested support level around 0.9026 creating a Channel Up pattern on the 4H Chart. The pattern has 49% quality along with 62% magnitude within 174-bar period.The pair bounced off the resistance level at 0.9334 and fell to the support at 0.9002/16. Stochastic reached its oversold area, showing that the pair is oversold, increasing the probability of a price recovery.
Energy commodities fell on Thursday amid stronger US Dollar and softer global equities. The major contributor to the decline of crude and Brent oil remained the speculation about the possible release of the oil resources in the US and the Euro Zone. However, positive economic data from the US limited the tumble, indicating prospects of stronger demand in view of
Industry metals were mixed on Thursday, being pressured by the US Dollar strength and disappointing Euro Zone consumer confidence data. Uncertainty over China's demand also continued to dampen market sentiment. However, positive headlines about the US labour market and consumer income limited the losses of the base metals pack. Aluminium remained potentially weak because of expected oversupply in the market
Precious metals except for silver moved higher on Thursday amid stronger US Dollar and weaker equities. Gold was the driver for the commodity group, falling by 0.13%. The yellow metal came under additional pressure caused by weak spot demand as strikes against the recent gold import duty hike in India have continued for the 12th day. Silver was the only
Japan's Nikkei Stock Average edged down on Friday as data showed Japan's industrial production declined by 1.2% in February. Losses were limited as other report showed Japan's housing starts soared by 7.5% in February while unemployment fell. Nikkei 225 index fell 0.31% or 31.23 points and finished at 10,083.56. Heiwa Real Estate rallied 4.2% and Kawasaki Kisen advanced 2.25%. Financial
Hong Kong's Hang Seng index traded lower on Friday, pushed down by property shares as investors gathered news that two of the city's influential property magnates have been arrested. Hang Seng index dropped 0.26% or 53.81 points to 20,555.58. Sun Hung Kai Properties fell 13.1%, Henderson Land Development tumbled 2.5% and Wharf Holdings lost 2.9%. On the upside Bank of
German DAX index partly erased previous losses on Friday as euro-region finance ministers determined the total ceiling for the bailout of the area's debt troubled countries at USD 1.1 trillion. Daimler AG gained 2.3% after Bank of America put status recommend to buy on car maker. HeidelbergCement AG rallied 5.5% after HSBC Holdings Plc lifted its rating on the shares.
FTSE 100 recovered on Friday despite a drop in UK consumer confidence in March. Banks and miners led the gains as metal prices surged. Antofagasta PLC added 2.9%, Vedanta Resources PLC gained 2.7% and Rio Tinto PLC soared 3%. On the downside Tate & Lyle PLC slipped 0.2% after sweeteners producer said it will have to raise its net debt.
Rural commodities apart from sugar declined on Thursday on the firmer US Dollar and uncertainty over China's demand. Grains came under pressure after Brazil reported it plans to boost wheat and corn production. Indian announcement that wheat output is likely to exceed the latest estimate of record-high crops pushed down wheat's price. Sugar also is expected to face ample global
Dow Jones Industrial Average index managed to break downward trend in US markets and finished into positive territory on Thursday adding 0.15% or 19.61 points to 13,145.82. Growth dependent shares climbed ahead of consumer confidence data due Friday. Alcoa Inc surged 2% and Caterpillar advanced 1.7%. Gains were partly offset by loss from financial shares as Bank of America fell
S&P 500 index modestly declined on Thursday as jobless claims fell less than previously expected. US leading index slipped 0.16% or 2.26 points and closed at 1,403.28. Red Hat jumped 20% after company's profit and sales outperformed predictions. Consumer-electronics retailer Best Buy tumbled 7% as the firm said it plans to close 50 shops due to weaker sales. Health maintenance
China's imports from the US hit 100 billion US Dollars in 2011, reported US-China Business Council. The US exported goods and services worth 103.9 billion US Dollars to China last year, indicating a 542% increase over the 10-year period. China is the third largest importer of the US goods and services; however, the US plans to more than double its
Crude oil futures advanced at Asian session on Friday amid broadly lower US Dollar. The US Dollar Index that measures its performance against set of six main currencies, declined by 0.33% to 79.03 US Dollars. Crude oil futures for delivery in May traded at 103.53 US Dollars on the New York Mercantile Exchange, gaining 0.72%.
Japan's housing starts soared by 7.5% in February on an annualized rate, indicating the first increase in the last six months. The jump in construction signals on increase in building mostly after natural disasters in the country. However, orders of the 50 main construction firms declined by 1.8% last month.
China's aluminium output jumped last month, adding pressure to the light metal's price amid global oversupply concerns, reported the International Aluminium Institute. China's average daily production of aluminium advanced by 9.2%, attaining 53,000 metric tons in February. Experts attributed the surge in production to seasonal fluctuations as during three years China's aluminium's output rocketed in February but slumped in March.
The economy of the US expanded in compliance with expectations in the last quarter of 2011, being remained unchanged from the preliminary reading, reported the Bureau of Economic Analysis. The GDP growth in Q4 accelerated to 3.0% on a seasonally adjusted basis. Consumer spending increased by 2.1%, also meeting the forecasts.
Japan's industrial production declined by 1.2% in February on a monthly basis, indicating the first decrease in the last three months. Experts predicted a 1.3% increase in the industrial output. However, the industrial production increased by 1.5% on an annual basis last month. The main contributors to the February fall were industries producing general machinery, transport equipment and communications equipment.