The U.S. Dollar remained higher for the second day against the Japan's Yen on bets the Federal Reserve Chairman Ben Bernanke will provide more signals on when U.S. officials will begin to scale back bond purchases. The greenback appreciated 0.1% to 95.42 versus the Yen and was at $1.3387 against the common currency.
The Russian Ruble depreciated 1.1% today against dollar-euro basket of the central bank, the biggest drop since April 17. The currency also dropped 0.8% against the U.S. Dollar and is currently trading at 31.3997. Decreasing oil prices and the Finance Ministry's support for a weaker currency and talks about intervention were responsible factors for the Ruble's debasement.
Future contracts on U.S. stocks were stable before today's building permits data release and the start of Fed's meeting, which will be followed by Bernanke's press conference on Wednesday. The rise in S&P 500 index futures was smaller than 0.1%, while Dow Jones Industrial Average futures increased 0.1%. The future indexes are currently trading at 1,634.8 and 15,131 respectively.
The Japanese Yen fell 0.9% against the U.S. Dollar today, reaching 95.37 Yen per Dollar. This is the second consecutive day of depreciation for the currency. Yields on 10-year German government bonds rose 0.04 percentage point to 1.56%, while yields on similar maturity British gilts rose 6 basis points to 2.14%. These moves occurred as investors are waiting for indications
The Chinese Yuan depreciated the most in approximately two weeks as the China's central bank stopped five days of strengthening the currency's fixing on bets that the Fed will scale back its stimulus. The China's currency dropped 0.6% to 6.1285 per Dollar in Shanghai, making its the biggest fall since June 6; however, it has gained 1.7% this year to
U.K. inflation rate increased unexpectedly in May on the last month's sharp gain in air-fares, decline in petrol prices and an increase in clothing costs. The inflation rate climbed from 2.4% in April to 2.7% in May. The upward movement of inflation rate in May confirmed that the decline in April, mainly was the outcome of temporary factors.
The U.S. Dollar advanced against the Yen on Tuesday, while future course of the greenback depends on the Fed's decision on its stimulus, which will be indicated after two-day meeting, starting today. The U.S. currency appreciated 0.6% to 95.10 per Yen today, which is lower than yesterday's high of 95.22, but higher than Thursday's 93.75 - lowest level in two
Copper declined for the second day in London ahead of the Federal Reserve officials start a meeting that will show when the central bank may begin to damp debt purchases. Copper for settlement in three months slipped 0.7% to $7,032 per metric ton. The September copper contracts plummeted 0.8% to $3.183 per pound.
The Stoxx Europe 600 Index advanced for the third day as it gained 0.3% so far today. However, the index is still 5.3% lower than it was on May 22, when Ben Bernanke indicated that the Fed might end its stimulus earlier. The European stocks rose before today's U.S. housing data and the start of Fed's two-day meeting. S&P 500
German investor sentiment increased in June as Europe's largest economy is recovering at a faster pace. The ZEW index advanced from 36.4 in May to 38.5, and the ZEW's measure of the current situation dropped more-than-expected from 8.9 in May to 8.6. German industrial output increased the most in over a year and overseas sales advanced more-than-predicted in April .
The U.S. Dollar appreciated as investors were expecting signals from the Federal Reserve about starting to taper stimulus. European shares remained flat, while German bunds and U.K. gilts declined. The greenback rose to 0.7% to 95.15 versus the Yen. U.K. 10-year bond yield inched up to 2.12% and the similar-maturity German bunds increased to 1.55%
U.K. shares advanced, led by FTSE 100 Index rise for fourth day in a row, on bets China might cut interest rates to spur economy. The FTSE 100 climbed 0.4% to 6,355.73 as of 9:32 a.m. London time; however, the equity benchmark has dropped 7.1% since May 22 on worries the Fed will taper its stimulus. The broader FTSE All-Shares
U.S. crude oil futures prices advanced on Tuesday, before the weekly inventory data that are expected to fall in inventories. Crude oil for July delivery gained 0.3% reaching $98.01 a barrel. Oil prices slipped 8 cents on Monday after the report from Financial times indicated that the Fed's Bernanke plans to state they are close to winding down its stimulus programme.
Gold declined for the second day ahead of the U.S. Federal Reserve begins its policy meeting on Tuesday as investors gauged when the central bank will taper its quantitative easing. Spot gold retreated 0.4% to $1,379.26 per ounce and was trading at $1,379.96 in Singapore at 1:36 p.m., adding to signs the gold has fallen 18% this year.
German shares fell ahead of the Fed policy meeting, which could indicate whether the Fed officials will start tapering stimulus at its meeting today. The DAX Index slid 0.4% to 8,186.71 as 9:38 a.m. Frankfurt time; moreover, the gauge declined 1.5% past week on worries that the Fed could start to scale back the monetary stimulus programme. The broader HDAX
German government bunds fell for the second day ahead of the data that, according to the economists, will indicate investor confidence in the country advanced in June, cutting demand for the Euro block's safest asset. German 10-year bond yield gained four basis points to 1.56% and the 1.5% note maturing in May 2023 decreased 0.365 to 99.44.
Treasuries cut a drop from yesterday ahead of the Federal Reserve starts a two-day meeting as investors will be seeking for signs as to when the central bank may taper its stimulus. The benchmark 10-year security yield remained steady at 2.18% and the price of the 1.75% note maturing in May 2023 was 96 7/32.
Hong Kong shares retreated on worries that rise in China's house prices may lead to monetary stimulus reduction. The Hang Seng Index declined 0.8% to 21,056.33 at 9:50 a.m. Hong Kong time as every nine stocks slid for each that advanced on the 50-member index. The Hang Seng China Enterprises Index fell 1.1% to 9,640.79.
U.S. shares climbed with the Standard & Poor's 500 Index recovering from the last week's losses. Investors are awaiting an economic report that may show that the Federal Reserve may decide at this week's policy meeting to wind down its stimulus. The S&P 500 increased 0.8% to 1,639.04 and the Dow Jones Industrial Average gained 0.7% to 15,179.85.
Canadian shares advanced, following a fall for a third straight week for the benchmark index, as the price of crude reached highest level in nine months and home sales were up in May. The Standard & Poor's/TSX Composite Index gained 0.8% to 12,288.90 as of 4 p.m. Toronto time; however, the measure slid 1.5% previous week and has fallen 1.2%
Asian shares were little changed before the Fed policy meeting that starts today and will last for two days. The MSCI Asia Pacific Index traded at 132.36 at 3:15 p.m. Tokyo time, the equity benchmark retreated 1.8% monthly on worries that central banks may reduce stimulus. Japan's Topix index gained 0.2% at the close, while the benchmark Nikkei 225 Stock
The Australian currency prolonged this quarter's largest drop among major peers after the Reserve Bank's minutes which showed that the Dollar may decline further. The Australian Dollar depreciated 0.6%to 94.87 against the U.S. Dollar, after it plummeted 0.3% yesterday. New Zealand's Dollar fell 0.3% to 79.71 versus the greenback.
European shares declined before the U.S. house data, which could indicate whether the Fed will start tapering stimulus at its meeting today. The Stoxx Europe 600 Index slid 0.5% to 291.94 as of 8:08 a.m. London time; however, the gauge advanced to its highest level in one week on Monday. Standard & Poor's 500 Index futures gained less than 0.1%,
The Euro plummeted against the U.S. Dollar as European Central Bank President Mario Draghi's declared that the central bank is weighing further non-standard monetary policy instruments and will use them under certain circumstances. The common currency fell 0.3% to 1.3329 versus the Dollar and appreciated 0.1% to 126.45 against the Japanese Yen.