Japanese stocks declined, with the Topix index snapping a two day winning streak, as exporters fell after the Japanese currency appreciated and on expectations that the Fed will start to scale back its stimulus in September. The Topix fell 1.7% to 1,151.82 at the Tokyo's close; however, the equity-benchmark has advanced 3.2% in the last two sessions, while the Nikkei
Asian shares declined, halting the benchmark's MSCIA Asia Pacific Index six week streak of gains, on mixed corporate earnings in the region and on expectations that the Fed will start tapering in September. The MSCI Asia Pacific Index slid 0.7% to 135.09 at 6:11 p.m. Tokyo time, however, the equity-benchmark has risen 8% since June 25.
U.K. retail sales increased more than it was forecasted by economists in July as the hot weather conditions fueled demand for food and alcoholic beverages. According to Office for National Statistics, sales grew 1.1% in July; however, analysts predicted 0.7% rise. Retail sales have increased for three straight months, making it the first time in four and a half years.
Oil prices prolonged their five-day jump, continuing their previous climbs and aiming even higher amid escalated concerns in the Middle East countries and a sharp fall in U.S. oil supplies. WTI futures advanced 0.24% to $107.11 per barrel and the European benchmark Brent increased 0.57% to $110.83. U.S. crude inventories dropped by 2.8 million barrels to 360.5 million barrels.
The Sterling was sent higher versus the U.S. Dollar, as U.K. July's retail sales data came in positive. The Sterling strengthened 0.53% to $1.5581 against the greenback, as retail sales advanced 1.1%, following a 0.2% jump in June. The Britain's currency rose 0.21% to £0.8531 against the Euro and gained 0.29% to 152.52 versus the Japanese Yen.
The Kiwi stayed higher versus the Aussie as New Zealand's manufacturing data rose to the highest level in nine years and job advertisements grew. New Zealand's currency traded at NZ$1.1360 per Australian Dollar at 10:13 a.m. Sydney time after appreciating 0.7% on Wednesday. The Kiwi gained 0.3% to 80.55 U.S. cents, while the Australian counterpart strengthened 0.3% to 91.52.
The Canadian currency rose from one-week low after Europe's GDP report that indicated on Eurozone's economic recovery. It was the first advance for the currency weekly as Canadian home price report showed an increase from the lowest level in approximately four years. Canada's Dollar climbed 0.2% to C$1.0319 per U.S. Dollar before it traded at C$1.0342 as of 5 p.m.
The British currency gained for a second straight day versus the greenback ahead of U.K. retail sales data that are predicted to show an increase for a third straight month in July. The Sterling rose 0.2% to $1.5530 at 7:38 a.m. in London after adding 0.3% on Wednesday, while it was little changed at 85.57 pence per Euro after climbing
The U.S. Dollar dropped against almost all most-traded peers ahead of nation's consumer price index release. It is expected that CPI rose 0.2% in June after 0.5% climb last month, according to economists. The greenback fell 0.4% to 97.75 Yen at 6:34 a.m. London time after depreciating 0.1% on Wednesday, while it slipped 0.3% to $1.3288 per Euro.
Pound advanced against the greenback, after better-than-forecast jobs report, as the Bank of England posted its minutes from the August 1 meeting. The Sterling jumped 0.27% to $1.5490 versus the greenback and rose 0.26% to £0.8561 against the Euro, while adding 0.34% to 152.22 versus the Yen. Jobless claims in U.K. declined by 29,000 in July, overshooting analysts forecast of
The Swiss currency depreciated to the lowest level in four weeks versus the common currency ahead of Europe's GDP report that is expected to show growth. The Swiss Franc slipped 0.3% to 1.24153 per Euro at 9:20 a.m. in London after falling to 1.24285, the lowest in a month, while the currency weakened 0.3% to 93.55 centimes per U.S. Dollar.
Britain's jobless rate stayed at 7.8% in the second quarter of the year on speculation that the labor market is growing and the nation's economy is recovering. The BoE's Governor Carney stated that unemployment is very important point of U.K.'s monetary policy, while Britain's Prime Minister Cameron depends that benchmark rate will stay at current level to boost private job
The 17-nation currency advanced for a fifth straight day versus the Japanese Yen ahead of the Eurozone's GDP data that are expected to show that the region is no longer in recession. The Euro rises 0.1% to 130.42 Yen as of 8:01 a.m. in London after reaching 130.66, the highest level since August 6, while it traded at $1.3259 per
Asian shares gained for a fifth straight day, it is on course for the longest winning streak in one and a half month, on low trading volumes and the trading was closed due to bad weather conditions. The MSCI Asia Pacific Index increased 0.4% to 135.64 at 2:23 p.m. Hong Kong time, while Japan's Topix index gained 1.2% and it's
The Australian currency fell versus New Zealand's Dollar after the consumer spending and wages reports were released and these data indicated on divergence between these South Pacific countries. The Aussie slipped 0.4% to NZ$1.1395 as of 4:53 p.m. Sydney time, after it reached NZ$1.12 on August 1. The Kiwi appreciated 0.2% to 79.80 U.S. cents, while its Australian counterpart weakened
The Canadian currency dropped for a second straight day after U.S. retail sales showed an increase for a fourth month in a row, fueling speculation that U.S. economy is doing better than Canada's. The Loonie fell 0.4% to C$1.0343 per U.S. Dollar as of 5 p.m. Toronto time and it is also impacted by previous week's unemployment data.
The Sterling remained flat versus the U.S. Dollar ahead of data that analysts said will indicate U.K. unemployment claims plummeted for the ninth month in July. The Britain's currency was at $1.5448 and remained steady at 85.91 pence versus the Euro. U.K. jobless claims fell 15,000 in July and the unemployment rate remained at 7.8% in the second quarter.
U.K. government gilts declined, sending 10-year bond yields to the highest level since October 2011, after data indicating inflation stayed above the central bank's target and house prices climbed curbed demand for fixed-income assets. The benchmark 10-year bond yield added 14 basis points to 2.60% and the 1.75% gilt expiring in September 2022 dropped to 93.195.
Precious metals decreased, as investors sold bullion after it reached the highest price in about three weeks. Gold prices jumped more than 4% on Monday, reaching $1,345, level unseen since the end of July. Old futures dropped 0.29% to $1,330.40 per ounce and silver increased 1.01% to $21.560 per ounce.
The Japan's currency plummeted over 1% against it main counterpart, following the news that Japan's Prime Minister Shinzo Abe is planning a tax reform. The Japan's Yen dropped 1.01% to 97.39 against the U.S. Dollar and slipped 1.05% to 130.27 against the common currency, while declining 0.90% to 150.55 against the Sterling.
European stocks increased as German ZEW economic confidence report rose more-than-forecast to 42.0 points in August, and the Euro block industrial production advanced. The European Euro Stoxx 50 index jumped 0.59% to 2,843.50 and the German DAX increased 0.87% to 8,432.30. The German ZEW economic confidence indicator increased from 36.3 points in July to 42.0 in August.
German investor sentiment rose more than it was forecasted by the economists in August as the nation's economic recovery helped the 17-nation euro area to climb out of recession. The ZEW Center stated that its index, that forecasts investor and analyst expectations in the following six months, increased from 36.3 to 42 in July, it was expected to rise to
The British currency was little changed against the greenback and the 17-nation currency as U.K. house prices increased to the highest level in more than six months in July, fueling speculation that the nation's economy is recovering. The Sterling was at 85.98 pence per Euro by 7:53 a.m. in London after strengthening to 85.79 earlier, while U.K.'s currency climbed at
German government bunds plummeted for the second day ahead of a survey that economists expect will indicate an index of investor sentiment in Germany jumped in August. The 10-year bond yield advanced two basis points to 1.73% and the 1.5% note maturing in May 2023 contracted 0.21 to 97.99. Germany will auction 10-year bonds worth of 4 billion euros tomorrow.