Crude declined in New York as a report showed inventories in the U.S., the world's major oil consumer, surged for the first time in three weeks. On Wednesday, futures fell 0.5%, cutting 0.8% climb yesterday, as the American Petrolium reported stockpiles rose 2.78 million barrels to 367.1 million last week. September-delivery oil dropped to $92.97 per barrel.
Australia's and New Zealand's Dollars held lower on expectation U.S. data will constrain the Federal Reserve in expanding monetary stimulus. On Wednesday, The Aussie fell 0.1% to $1.0478, after reaching $1.0465, the weakest since Aug. 3. Australia's Dollar dropped 0.1% to 82.55 Yen. The Kiwi was stable at 80.52 U.S. cents, after a 0.5% decline yesterday.
On Wednesday, the U.S. Dollar held advance against most major counterparts before data today expected to add signs of economic rebound in the U.S., constraining opportunities for additional monetary easing from the Federal Reserve. The Greenback surged 0.1% to 78.79 Yen, after climbing to 78.93 yesterday, the highest since July 18.
Canada's currency was at an almost 3-month high as crude oil advanced and a report posted U.S. retail sales increased, fueling optimism demand for exports to the U.S. will rise. On Wednesday, Canada's Dollar gained 0.1% to 99.23 cents per U.S. Dollar, after touching 99.07 yesterday. The Loonie buys $1.0076.
Gold futures tumbled on Tuesday, as U.S. fundamentals improved, with a 0.8 per cent jump in retail sales and wholesale prices adding 0.3 per cent in July. The bullion for December settlement fell 0.7 per cent, to $1,602 during today's New York trading session. At the same time, silver for September delivery followed gold and declined by 0.2 per cent, to $27.70 per ounce. On
Crude oil futures rose on Tuesday, as investor optimism grew amid improved economic data from the U.S. and Europe. Oil with September contract jumped by 0.9%, to $93.52 per barrel, after losing 0.2% on Monday. At the same time, September natural gas and heating oil for the same month advanced as well, by 1.47% and 0.2% respectively. Among other energy-related products, September gasoline resisted the trend
The U.S. dollar advanced against its major peers, as world's biggest economy's fundamentals improved, reducing possibility that the Fed may soon announce another quantitative easing. The greenback strengthened versus the Euro by 0.09% to $1.2323. At the same time, the ICE Dollar Index rose by 0.14% to 82.55.
The shared currency advanced after four days of losses, as investors made bullish bets for ECB's bold actions to lower Italian and Spanish borrowing costs. The Euro jumped 0.4% to $1.2340, with a session high $1.2359 and was higher versus the Japanese yen, adding 0.5 per cent to 96.64 per yen. On the contrary, the ICE dollar Index erased 0.22% to 82.38.
German stocks jumped on Monday on inspiring German GDP data. German GDP expanded by 0.3% in Q2 compared to a 0.2% growth widely expected. However, an unexpected decline in German investor sentiment index capped the upswing. The German DAX Index gained 0.81% to trade at 6,965.53 at GMT 12:00. Eight out of nine industries included in the index posted gains.
UK halted two-day decline on Tuesday after positive data from Germany. German GDP expanded more than expected in the second quarter. Moreover, speculation that some of the BoJ policymakers are ready to provide additional monetary stimulus for Japanese economy improved market sentiment. FTSE 100 Index added 0.39% to trade at 5,856.15 at GMT 12:00. Eight out of ten industries included
The Hang Seng Index rallied 1.05% on Tuesday as recent dismal data releases spurred speculation that the PBOC will ease its prudent monetary policy. Adding to gains of China's stock index, Germany reported that its economy grew faster than expected in Q2. All nine sectors included in Hang Seng Index soared. The largest gainers were telecommunications and basic materials. Among
Farm commodities plunged on Monday as beneficial weather in India and Brazil is likely to result in improved crop yields. Moreover, recent USDA report continued to create heavy pressure on grain commodities. Wheat was the worst-performer after Canada announced that it expects wheat crops to increase by 5.7% from the initial estimate in a year starting Aug. 1. Corn dropped the most
Japanese equities erased some of the previous losses on Tuesday amid hopes that the BoJ will announce additional stimulus measures to boost faltering economy. Market sentiment was improved by hopes that the ECB and Fed will ease theitr monetary policies further. Moreover, investors started to buy equities that were oversold during dismal earnings season, thus sending Japanese stocks higher. Nikkei
Energy commodities apart from Brent oil declined on Monday despite weaker US Dollar and hopes for easing in the Eurozone, China and US. However, increased geopolitical tensions in the Middle East restricted the downswing of the commodity group. Crude oil started Monday's session on a positive note amid potential supply disruptions from Strait of Hormuz. However, crude oil futures halted the
Dow Jones Industrial Average Index slumped 0.29% on Monday on high risk-aversion among investors. Disappointing Japan's data as well as pessimistic news from China weighted down on US equities. However, speculation that Eurozone and China will loosen their monetary policies continued to restrict the downswing. All industries included in the index declined. The top-losers were basic materials and health care
As reported by the Bank of Italy, nation's public debt rocketed to an all-time high of around 2 trillion euros. The Italian public debt rose by 6.6 billion euros at the end of June, pushing government's borrowing costs closer to 6% level, despite implemented austerity measures. Moreover, Italian economy diminished by 0.7 per cent in the Q2, and erased 2.5 per cent compared to a
Crude oil edged higher on Monday, and was trading higher than $115 per barrel, on supply concerns and on hopes that Central banks will stimulate economic growth in order to boost global oil demand. Brent crude oil jumped as high as $115.11 per barrel. At the same time, U.S. oil rose by 64 cents to $93.51. On Friday, the International Energy Agency cut its oil demand
Japan's economy decelerated in April-June period, and added only 0.3%, after jumping by 1% in the first quarter of 2012. The economy slowed down, as exports was hurt by Eurozone's debt crisis and as domestic consumption rose modestly. In the meanwhile, last week the BoJ left its benchmark interest rate at the 0.1% level.
Gold futures were little changed in the beginning of the week, after a three-day rally, as traders are waiting for bold actions from the ECB to curb the Eurozone's debt crisis. December gold added 0.1 per cent to $1,623.50 per ounce. At the same time, other precious metals were down on Monday. September silver and copper for the September delivery erased 0.5% and 1% respectively.
Industrial metals retreated on Monday after disappointing Japanese data. Japan's GDP rose less than expected in Q2, thus denting demand prospects for the base metals. At the same time, global easing speculation continued to lend support for the commodity group. Aluminum prices decreased after dismal Japanese and Chinese data. Meanwhile, hopes for easing in Asia limited losses of the light metal. Copper
US stocks started the week in a red territory on lingering global growth concerns after Japan announced that its GDP growth slowed more than expected in Q2. At the same time, successful Italian bond auction supported the market sentiment. The S&P 500 Index lost 0.13% to 1,404.11 on Monday. Eight out of ten industries included in the index dropped. The
Precious metals tumbled on Monday despite hopes that central banks across the world will implement stimulus measures soon. Meanwhile, traders await fresh data from the US due this week. Gold slid by 0.64% amid soft physical demand from India. Indian gold imports are expected to drop by 30% this year on weak Rupee and drought that curbed households' income. Silver
India's wholesale prices rose 6.87% on year in July, compared to 7.25% climb in June, the Ministry of Commerce and Industry announced on Tuesday, economists forecast halt of price increase pace at 7%. Primary article inflation eased to 10.39% from 10.46% in June. Manufactured product prices surged 5.58% from 5%, while fuel and power prices rose only 5.98% from June's
Eurozone's industrial output declined for a fourth time in 2012, as falls in capital, intermediate and consumer non-durable production offset increases in energy and consumer durables, Eurostat said on Tuesday. June's output posted a 0.6% fall, compared to an upwardly revised 0.9% rebound in May, likely stimulating 0.2% GDP drop in second quarter. Industrial output fell 2.1% on a yearly