Corn traded in Chicago dropped for the third successive day on Wednesday amid boosted optimism that record production will be reached spurring global supplies as U.S. farmers planted 43% of this year's intended area in a single week. Corn for July settlement fell 0.4% to $6.3775 a bushel on the CBOT and was traded at $6.385 at 2:09 p.m. Singapore
Current account balance in the Eurozone came in surplus in March largely due to a surplus recorded in trade balance as goods trade rose from 11.5 billion euros in February to 21.8 billion euros in the following month, the ECB reported on Wednesday. The report showed the current account surplus totalled 25.9 billion euros in March, up from 14.6 billion
Australian consumer confidence in May dropped notably to the weakest level since August 2012 mainly due to negative responses to the Federal Budget, the Westpac and Melbourne Institute showed in a report on Wednesday. The consumer sentiment index dropped 7% in May from 104.9 recorded in April to 97.6, the least since last August.
Natural gas futures traded in New York increased for the third straight day on Wednesday as demand from power plants was boosted by weather forecast showing higher-than-normal temperatures for the early June. Natural gas for June settlement rose 10.2 cents to $4.192 per million British thermal units on the NYMEX, the highest close since May 1.
The Swiss currency slipped on Wednesday falling to the lowest level in four months against the 17-nation bloc currency after the International Monetary Fund said that the nation's real-estate market could be cooled by negative interest rates on banks' excess deposits. The Swiss Franc declined by 0.6% to 1.2529 per Euro and it fell 0.6% to 97.35 centimes per U.S.
Mexican currency declined on Wednesday amid speculations that the country's modest growth is slowing demand for the nation's securities as investors are waiting for result of today's meeting in Congress where Ben Bernanke is holding a speech about stimulus. Mexican Peso dropped 0.3% to 12.3355 per U.S. Dollar as of 4 p.m. local time and it has gained 4.2% this
Economic performance in the Organization for Economic Cooperation and Development area increased in the first three months of 2013, however, the overall figure masks wide spectrum of results, the organization showed in a report. The OECD's GDP rose 0.4% in the Q1, when GDP in the U.S. and Japan added 0.9% and 0.6%, respectively, while the EU17's GDP showed contractions
The British Sterling dropped on Wednesday falling to the weakest level in four weeks versus the Euro before the Bank of England's minutes from this month's policy meeting were published today. The so-called Cable was little changed at 85.20 pence per Euro as of 7:37 a.m. London time following a declined to the lowest level since April 25 at 85.31
The U.S. Dollar was lower by 0.1% to 1.2923 per Euro by the midday trading session in Tokyo on Wednesday. The currency also depreciated 0.5% in last two days, as investors raised concern that Federal Reserve Chairman Ben Bernanake will maintain monetary stimulus and go in the line with Fed presidents from other regions, who officially annouced that bond buying
Gold fluctuated on Wednesday amid speculation that the Fed may scale back stimulus before the Federal Reserve Chairman Ben Bernanke testifies in the U.S. Congress today. Spot gold swung between gains and losses and was traded at $1,377.23 an ounce as of 10:52 a.m. Singapore time following an increase of 0.3% and an yesterday's drop by 1.3%.
Emerging-market shares increased on Wednesday led by consumer discretionary companies as Hyundai Motor Co. and Kia Motors Corp. drove the sector and as the BoJ maintains its monetary program before Ben Bernanke's speech taking place in the U.S. Congress today. The MSCI Emerging Markets Index gained 0.2% to 1,050.26 as of 12:54 p.m. Singapore time.
U.S. Treasuries fluctuated on Wednesday and were traded near the weakest level in five years amid speculations that the Federal Reserve may sustain its stimulus program after yesterday's speech of the Fed's Chairman Ben Bernanke. The benchmark 10-year yields were traded at 1.93% as of 6:45 a.m. London time after the rates declined by 0.04% yesterday.
Government bonds of Germany were little changed on Wednesday after they lost 1% yesterday as the country prepares to sell debt due in May 2023 in auction totaling five billion euros, or $6.5 billion. German benchmark 10-year bund yields fell to 1.39% as of 7:14 a.m. in London after the rates climbed to 1.42% yesterday, the highest level since March
The Canadian Dollar dropped by 0.3% to 1.0267 per U.S. Dollar in the end of Toronto trading session on Tuesday. The currency slipped to more than a two-month low, as investors speculated about a reduction of the monetary stimulus in the biggest world's economy, as it signals about an improving labor market and substantially growing gross domestic product.
European share were little changed on Wednesday before meeting of European Union leaders and as investors waited for a report showing that existing homes sales in the U.S. to climbed to the highest level in a three-year period in April. Futures of the benchmark Euro Stoxx 50 Index advanced by 0.1% to 2,814 as of 7:12 a.m. London time.
Japan's trade balance is expected to show a deficit for the tenth successive month in April despite higher exports recording a second straight climb, a survey published by Reuters showed on Wednesday. According to the survey, exports are forecast to grow by 5.9% from a year earlier following a 1.1% gain in March, which would bring Japan's trade deficit to
The South Korean Won depreciated 0.1% to 1,111.75 per U.S. Dollar in the morning of Seoul trading session on Wednesday. The currency snapped last two-day gains, as the Bank of Korea Governor said that emerging markets, including Korea, are fuelled by the U.S. monetary stimulus and the possibility of ending it may dim their optimistic prospects of expansion.
The Bank of Japan affirmed its decision to double the money supply by expanding it $683 billion a year in an attempt to increase inflation in the country. The decision came despite rising government bond yields, which might undermine the central bank's efforts to revive the economy. However, surging stock market and the depreciating Yen, which has lost 16% of
Chinese equities surged prior to the release of the world's second largest economy's PMI. Among industry groups consumer-goods and property firms posted the biggest gains, offsetting losses for utility and tech shares. The Shanghai Composite Index climbed 0.1% to close at 2,307.74, extending the winning streak for a sixth straight day.
Wall Street traded green on Tuesday as the Fed announced its decision to extend its bond buying program to bolster economic growth. The S&P 500 Index jumped 0.2% to 1,669.16, the highest close ever. The Dow Jones Index increased 0.3% to end at 15,387.58. Gains in the index were capped by Apple Inc. that retreated 0.7% amid report that said
Asian equities extended gains on Wednesday, sending the regional benchmark MSCI Asia Pacific Index to finish close to its highest level in four years. Japanese TOPIX Index rallied 0.65% to 1,278.77, its highest since 2008, as Bank of Japan reiterated its monetary stimulus plan to double the monetary base in the next two years.
The British Pound was little changed against its U.S. counterpart on Tuesday as investors awaited a report showing slower-than-expected consumer price inflation in the United Kingdom in April. The so-called Cable was traded at $1.5248 as of 7:44 a.m. in London following an 0.6% increase yesterday, while it was at 84.52 pence per Euro after it dropped to 85.17 pence
The U.S. Dollar increased against most of its major peers on Tuesday as trading in Europe gathered pace and as investors waited on a result of Wednesday's meeting in Congress of the Federal Reserve Chairman Ben Bernanke and policymakers discussing stimulus program. The U.S. Dollar Index increased 0.2%, while the European shares were traded 0.3% lower.
M3 money supply in Switzerland advanced for the third time in a row in April as the official reserves gained marginally to $522.47 billion at the end of March, a report released by the Swiss National Bank unveiled on Tuesday. The report showed that M3 money supply rose annually by 10.2% from 9.9% recorded in March, while monetary aggregate M2