Developing countries' share prices fell and are headed for the biggest decline in more than 7 days amid slowing growth in Chinese service industries and increasing oil prices. China's report showed that service industries' purchasing mangers' index dropped to 53.9 last month, the lowest point since September, while oil rose due to unrest in Egypt. The MSCI Emerging Markets Index
Yields on 10-year German government bonds decreased for a third consecutive day after two Portuguese ministers resigned amid growing opposition to austerity. The yields on bunds fell 3 basis points to 1.67%, while similar maturity Portuguese bonds dropped, increasing the yield 33 basis points yesterday. The moves come before euro region's growth data, which is expected to show a contraction.
European stock future retreated as crude oil price jumped above $100 a barrel amid increasing political unrest in Egypt and Portugal. Euro Stoxx 50 futures expiring in September decreased 0.9% to 2,574, while similar contracts on FTSE 100 Index dropped 0.8%. U.S. stock futures and Asian shares declined as well. The Stoxx 600 Index decreased 0.4% yesterday as U.K. data
The Australian Dollar rose after the report showed that trade surplus was around 10 times what experts had predicted. The actual surplus was AUD 670 million, while economists estimated a modest surplus of AUD 53 million. However, the Aussie reached lowest point since September 2010 nevertheless due to comments by central bank's governor that the currency was too high. The
Australian retail sales data was worse than experts expected in May as consumers decreased their spending on household goods and dinning out. Sales increased 0.1% to AUD 21.8 billion, while report a month earlier showed a drop of 0.1%. It went against the experts' expectations of growth of 0.3%. Consumers spent 0.6% and 0.3% less on dinning out and household
Asian share prices declined due to worse-than-expected China's service industry data and due to an overnight decrease in metal prices. The MSCI Asian Pacific Index dropped 1.3% to 129.80 as China's economy is slowing and might miss government's target of 7.5% growth. Hang Seng Index slid 1.9%, while Shanghai Composite lost 1.5%. Investors are waiting for U.S. labor market data
China is expected to import more oilseed as country's domestic production of the commodity falls to a multi-year low, according to Oil World. Oilseed production is expected to drop by 2 million tons to 48 metric tons in the 2013-14 season, which starts on August 1. China's soybean imports probably were 43% higher in June compared to the same month
The U.S. S&P 500 futures were virtually unchanged and stood at 1,606.70 as investors await U.S. factory output data and comments by Fed officials that might indicate central bank's stance on its QE. The gauge erased all of its earlier gain today of as much as 0.5%. Dow Jones Industrial Average future contracts dropped less than 0.1% and traded at
High growth in U.K. manufacturing and better-than-expected mortgage approval data indicated that British economy might be recovering. Factory output gauge advanced to 52.5 in June from 51.5 a month earlier – the highest growth in two years, while experts predicted the index to show 51.4. Mortgage approvals data showed the biggest number of home loans recipients since 2009.
The Treasuries erased gains as investors speculated that two Fed speakers might provide insights about the central bank's policy stance on monetary stimulus before the labor market data to be announced on July 5, which is expected to show that the U.S. economy added 165,000 jobs. The yield on 10-year Treasuries increased to 2.48% from 2.45% earlier today.
The 10-year gilts advanced due to higher demand in a 3.5 billion-Pound auction. Investors demanded 1.76 times worth the securities offered, compared to 1.52 times the last time an auction was held. The yield on 10-year gilts dropped 3 basis points to 2.38%. The Sterling slid 0.3% to 1.5169 per U.S. Dollar and was little changed against the Euro as
The Stoxx Europe 600 Index dropped 0.5% to 286.75 so far today from the highest point since June 19. The gauge was dragged by Fresenius Medical Care, which slid 9.9%. S&P 500 futures rose 0.3% as investors awaited factory orders data, which is predicted to show a rise of 2% compared to an increase of 1% last month. The yield
The British currency appreciated for the first day out of last five versus the Eurozone's currency after U.K. construction data indicated that it has expanded in June. The Sterling gained 0.2% to 85.68 pence per Euro at 10:03 a.m. in London after depreciating 1.2% in the last four days. The Pound traded at $1.5201 after sliding to $1.5166 on June
Gold prolonged a recovery from the weakest level in 34 months, advancing for the third day, amid speculation that lower prices may increase demand. Spot bullion inched up 0.7% to $1,260.90 per ounce. Prices rose 1.5% yesterday, after dropping to $1,180.50 on June 28, the lowest level since August 2010.
Japanese shares advanced, with the Topix index prolonging the biggest four-day rise since April, as the Japanese Yen declined following better-than-predicted U.S. manufacturing data. Tokyo Electris Power Co. rallied by it daily limit. The Topix inched up 1.8% to 1,171.84 and the Nikkei 225 Stock Average gained 1.8% to 14,098.74.
Austrian government bonds remained flat ahead of the country auctions a combined 1.65 billion Euros of debt expiring in 2018 and 2034 today. Austria's 10-year notes yielded 2.14% and the price of the 1.75% bond maturing in 2023 was 96.405. Producer prices in the Euro block retreated 0.2% from April when they declined 0.6%.
European shares declined, after yesterday's jump for the benchmark Stoxx Europe 600 Index, as investors expect U.K. construction and U.S. factory order data. U.S. index futures and Asian stocks advanced. The Stoxx 600 dropped 0.3% to 287.41. U.S. factory orders are expected to gain 2% in May, adding to signs they rallied 1% in April.
Chinese shares gained for a third straight day as the drug makers advanced, while the banks declined. The Shanghai Composite Index rose 0.4% to 2,004.13 as of 2:55 p.m. Shanghai time. The equity-benchmark has fallen 18% from this year's highest point on February 6. The CSI 300 Index added 0.3% to 2,218.91, while the Hang Seng China Enterprises Index dropped
U.S. shares jumped, with the Standard & Poor's 500 Index recovering from the first monthly decline since October, after data indicated manufacturing grew from Japan to the U.S. boosted sentiment in the global economy. The S&P 500 gained 0.5% to 1,614.96 and the Dow Jones Industrial Average added 0.4% to 14,974.96.
Asian shares climbed, with the MSCI Asia Pacific Index advancing for a fifth straight day, after the U.S. manufacturing data topped the expectations. The MSCI Asia Pacific Index rose 0.9% to 132.04 at 3:11 p.m. Tokyo time; moreover, the equity-benchmark previous week had its first three-month decline in a year. Japan's Topix index and the benchmark Nikkei 225 Stock Average
The Japanese Yen retreated to the weakest level in over three weeks versus the U.S. Dollar after the central bank's Tankan survey indicated large manufacturer sentiment climbed the most in two years, curbing demand for safer assets. The Japan's currency dropped 0.5% to 99.66 against the greenback and fell 1% to 130.19 versus the Euro and reached 130.25, the weakest
The Aussie extended its biggest advance in approximately two weeks against the U.S Dollar as global shares gained before the RBA meeting today. The Australia's currency traded at 92.40 U.S. cents at 10:10 a.m. Sydney time, it rose 1.1% on Monday, the biggest climb since June 13, while the Kiwi was at 78.20 U.S. cents, after gaining 1.1% day earlier.
The U.S. Dollar advanced to the strongest level in about a month versus the Japanese Yen as growing U.S. economy boosted speculation the Federal Reserve will begin to taper bond purchases. The U.S. currency reached 99.87 against the Yen, the strongest since June 5. The greenback remained unchanged at $1.3064 versus the Euro.
The Sterling was little changed versus the greenback and 17-nation currency ahead of data that are expected to show growth in U.K. construction sector for a second straight month. The British currency was at $1.5210 at 7:17 a.m. in London, it touched $1.5166 on June 28 and that was the weakest level since May 31, while the Pound traded at