Asian shares declined, with the regional benchmark index set for a lowest level in five months, after U.S. employment and factory data came worse than expected and investors weighed whether the Fed will wind down its stimulus. The MSCI Asia Pacific Index fell 0.9% to 131.12 at 2:01 p.m. Tokyo time. Japan's Topix index slipped 1.8%, erasing earlier gain of
The Aussie depreciated to the two-year low as the advantage of Australia's falling interest-rate over its peers diminishes the allure of the currency. The Australia's Dollar slipped 1% to 94.45 U.S. cents at 2:43 p.m. Sydney time after reaching 94.35, the lowest level since October 4, 2011. The kiwi dropped 0.8% to 79.10 U.S. cents after touching 79.03, the weakest in
The U.S. Dollar's volatility versus the Japanese Yen almost reached the highest level in more than a month before the employment data from U.S. that would indicate if the U.S. economy is strong enough to taper the stimulus. The greenback traded at 98.86 Yen, before touching 99.22 Yen as of 12:47 p.m. Tokyo time. The U.S. Dollar and the Japanese
Canada's currency reached the weakest level in one year against its U.S. counterpart after faster-than-expected growth in American service industries increased speculation the Fed might slow down its bond-buying programme. The loonie fell 0.1% to C$1.0355 against U.S. currency as reaching C$1.0380.
The U.S. Dollar traded under 100 Yen and global equity markets slipped on Wednesday following a weaker-than-expected report on U.S. jobs that supported expectations the Federal Reserve will continue its bond-buying programme. The greenback reached the weakest level of 99.13 against the Japanese Yen ahead of transferring to 99.56 Yen.
U.S. shares traded lower as a report indicated the increase of payrolls was not enough to minimize concerns the Fed may taper its economic stimulus. The Dow Jones Industrial Average declined 0.37% to 15,122.13 and the S&P 500 Index fell 0.39% to 1,624.94, and the Nasdaq Composite Index dropped 0.42% to 3,430.93.
Gold futures kept gaining on Wednesday following less-than-predicted private sector payroll rise, two days before non-farm payroll report that might provide information about when the Federal Reserve will weaken its economic stimulus. The August gold contracts increased 0.5% to $1,403.60 an ounce.
The U.S. Dollar reached the weakest a session low versus the common currency and the Japanese Yen on Wednesday as data indicated less-than-expected private sector payrolls were created in he U.S. last month. The report showed only 135,000 new jobs were created instead of 165,000 predicted. The 17-nation currency advanced versus the greenback to $1.3114 following the data.
The European Central Bank announced that Latvia can join the Eurozone, although officials are worried that the country might struggle with keeping the economy afloat. Latvia plans to introduce the Euro on January 1, 2014 and it will become the 18th country of the Euro block. Inflation rate in the Nation was 1.3% in the 12 month period through April, well under the reference measure of
The Japanese currency appreciated against the U.S. Dollar and the Euro after Japan's shares decreased as Prime Minister Shinzo Abe did not provide any additional information amid QE measures, increasing demand for safer assets. The Japan's Yen gained 0.5% to 99.58 against the U.S. Dollar and 0.6% to 130.08 versus the Eurozone's currency.
U.K. shares retreated amid speculation that the Fed may wind down its stimulus programme at the end of the summer. The FTSE 100 Index dropped 0.7% to 6,515.83 as of 9:19 a.m. London time. The index has declined by 4.8% since the Fed Chairman's Bernanke's testimony on May 22, when he talked about scaling back stimulus if the U.S. economy
The British Pound appreciated versus the greenback and shared currency as the U.K. services output expanded last four weeks by the most in almost 13 months. The Sterling rose 0.3% to $1.5355 as of 9:55 a.m. in London after advancing to $1.5376 on June 3, while the British currency jumped 0.4% to 85.06 pence per Euro.
U.S. stocks retreated, ending the streak of 20 Tuesday gains in a row for the Dow Jones Industrial Average, as economists expect the Fed to wind down stimulus at the end of the summer. The Standard & Poor's 500 dropped 0.6% to 1,631.38 as of 4 p.m. New York time, reversing a gain of 0.4%, while the Dow slipped 0.5%
European shares declined, following the U.S. equities retreat, on speculations that the Fed officials may wind down stimulus programme. According to economists at Deutsche Bank AG, the Fed is likely to start scaling back its stimulus package at the end of the August. The Stoxx Europe 600 Index fell 0.4% to 298.48 as of 8:39 a.m. London time, while the Standard
Gold bounced off and traded above $1,400 an ounce as equities tumbled and the greenback's advance halted, spurring demand for the metal. Spot gold climbed 0.7% to $1,408.50 an ounce and touched $1,405.06 as of 2:12 p.m. Singapore time. The yellow metal for August delivery added 0.5% to $1,404.20 an ounce on the Comex.
Asian shares declined, impacted by Japanese equities after Shinzo Abe's testimony, where he talked about his economic growth model. Stocks also slid on expectations that the Fed may taper the stimulus package as the U.S. economy grows. Japan's Topix index slipped 1.4%, erasing a gain of 1.2%, while the MSCI Asia Pacific Index fell 0.9% to 133.44 at 1:59 p.m.
The Aussie fell for a second day in a row versus the kiwi after Australia's growth slowed to the lowest level in almost 24 months, boosting the Reserve Bank borrowing cost cut expectations. The Australia's currency slipped 0.5% to NZ$1.1983 at 3:02 p.m. Sydney time, while it lost 0.1% to 96.42 U.S. cents. The New Zealand's Dollar appreciated 0.3% to
The U.S Dollar remained above 100 against the Yen for a second straight day, after advancing from the lowest in more than three weeks, ahead of the U.S. jobless claims that may influence the Fed's stimulus programme. The greenback rose 0.2% to 100.18 Yen as of 11:04 a.m. Tokyo time, compared to yesterday, when it appreciated 0.5%.
The Fed is likely to start unwinding its monetary easing already in September and end it completely by the end of the year, Deutsche Bank says. Earliest cut will consist of $10 billion of mortgages and $15 billion of U.S. government bonds, totaling $25 billion. The current size of bond-purchasing programme is $85 billion per month. The cut is expected
Canada's shares were steady after energy producers climbed, while wireless providers and gold producers decreased. The Standard & Poor's/TSX Composite Index gained less than 0.1% to 12,611.63, the index has advanced 1.4% this year. Niko Resources Ltd., Petrominerales Ltd. and Penn West Petroleum Ltd. added at least 1.7% to lead gains between oil and natural gas shares.
The Canadian currency declined following a climb in merchandise trade deficit in April after energy drove inbound shipment to a record high while overseas sales slipped for the first time since January. The Canada's Dollar dropped 0.3% to C$1.0310 versus the U.S. currency. The Canadian Dollar advanced 1.1% on Monday, the most since June 29,2012.
West Texas Intermediate crude dropped amid predictions that U.S. supplies of gasoline grew in the previous week and after the U.S. Dollar appreciated versus the basket of major counterparts. The July WTI contracts slipped 0.5% to $93 a barrel and Brent for July delivery decreased to $101.97 a barrel.
U.K. shares advanced, with the FTSE 100 Index recovering from the lowest level in a month, following the Fed officials commentary that U.S. economy is still weak to justify the reduction in QE measures. The FTSE 100 climbed 0.6% to 6,562.25 and the FTSE All-Share Index also gained 0.5%, while Ireland's ISEQ added 0.7%
The U.S. Dollar rebounded from the weakest level in four weeks versus the Japan's currency on Tuesday, with the Japanese Yen declining amid the data that Japan's pension funds could raise foreign holdings. The greenback advanced 0.5% to 100.10 versus the Yen on the comments about Japanese pension funds.