Robusta coffee traded in London bounced back from a three-day losing streak amid speculations that the fall of its prices gone too far after a drought that might reduce output of the variety bothering the world's largest producer Vietnam. May Robusta coffee futures advanced 0.7% to $2,167 a ton earlier on Thursday London session, while May Arabica coffee futures dropped
Benchmark stock index of Asian shares increased mainly due to gains of Japanese shares as the Bank of Japan's new governor will announce new monetary stimulus program and after a report revealed that manufacturing output in China accelerated more than expected. The MSCI Asia Pacific Index added 0.4% to 134.91 on Thursday, while the gauge without Japan's share fell 0.2%.
Hong Kong stocks retreated on Thursday ahead of corporate earnings reports, while broker downgrades dragged down China's internet giant Tencent holdings. The Hang Seng Index dropped 0.1% to 22,225.88 points. Four out of nine groups in the gauge posted losses with tech shares declining the most. China Resources fell 5.3% for a biggest decrease on Hang Seng after the Chinese
The British Sterling advanced to its highest level in three weeks versus the U.S. Dollar after an improvement in February retail sales, it also rose against the Euro amid weaker demand for the shared currency after the German manufacturing contracted. The Pound added 0.6% to $1.5185 after hitting it three-week high at $1.5204, while it gained 0.8% to 84.97 pence
Spanish and Italian government bonds increased for a second session in a row on Thursday amid speculation that the Europeans Central Bank may stimulate the 17-nation bloc's weak economy after unfavorable Eurozone's output data. Italy's 10-year yields dropped 0.06 percentage points to 4.57% earlier on Thursday London session and the Spanish 10-year yields fell 10 basis points to 4.88%.
South Korea's Won traded near the lowest in six months after doubts that Europe's debt crisis would extend was countered by the Fed indicating signs of further bond- buying program, meanwhile, government bonds climbed. The Won was at 1,115.97 per greenback, after touching 1,119.95 yesterday, the weakest since September.
The shared currency dropped toward the lowest in four months versus the greenback as a report indicated manufacturing output and services in the region shrunk, signaling that the economy finds it difficult to recover from recession. The Euro slid 0.2% to $1.2905, while Japanese Yen advanced 0.6% to 95.46 per Dollar. The Eurozone economy has suffered decline for five quarters
Private sector output in France decreased at the steepest pace in four years in the month of March mainly due to a drop of business activity in service sector and as manufacturing production fell notably on the month, the Markit Economics reported on Thursday. The report showed that the Flash France Composite Output Index was 42.1 points in March after
Trade balance of Switzerland's economy declined by less than expected in the month of February despite a 2.5% drop in exports of Swiss watches mainly due to a weakened demand in Asia, the Federal Statistical Office reported on Thursday. The report said that the country's trade balance decreased to a seasonally adjusted 2.098 billion Francs from downwardly revised 2.126 billion Francs in
WTI plunged after its biggest two-week gain as German manufacturing shrunk unexpectedly and Cyprus's president developed a new plan of securing a financial bailout from the Eurozone. WTI for May settlement dropped 71 cents to $92.79 a barrel and the volume of contracts traded was 38% lower than the 100-day average. In addition, Brent for May delivery slid to $108.41
All industry activity in the Asia's second-largest economy decreased by 1.4% on a monthly basis in January after it moved up 1.6% the month before, the Ministry of Economy, Trade and Industry showed in a report on Thursday. The report said that tertiary industry activity dropped 1.1% in January offsetting a 1.1% gain in December, while construction industry activity rose
China's manufacturing sector improved above economists' expectations in the month of March with the manufacturing output index climbing from 50.8 points in February to 52.8 recorded in March, the Markit Economics revealed in its survey. The Markit/HSCC purchasing managers' index rose to 51.7 in March after it recorded 50.4 the month before, while it was forecast to jump to 50.8
Merchandise trade deficit in Japan declined to 777.5 billion Yen in February compared to a forecast of a shortfall to 855.9 billion Yen, staying in the red for the eighth time in a row, the Ministry of Finance reported on Thursday. The report said exports fell annually by 2.9% to 5.284 trillion Yen and imports moved up annually by 11.9%
British retail sales topped economist`s expectations by gaining 2.1% from January. According to forecasts, there was 0.4% rise expected. Year to year, sales increased 2.6%. The Pound strengthened 0.5% to $1.5178 versus the Dollar after data was released."There is still some hope that the economy has avoided a triple dip," said Vicky Redwood, an economist at Capital Economics Ltd. in
U.S. shares snapped losses earlier this week, as the Federal Reserve will continue asset purchasing to stimulate growth in the world's largest economy and Euro-area policy makers are working on a new finance plan for Cyprus. The Dow Jones Industrial Average added 0.4%, or 55.91 points, to 1,588.71. All but two groups in the index edged higher. Consumer services group
The New Zealand Dollar gained 0.4% to 82.62 per U.S. Dollar in the end of Sydney trading session on Thursday. The kiwi increased versus the major peers, as data indicated the fastest domestic economy growth rate last quarter in last three years. GDP expanded by 1.5% and exceeded analysts' estimation of a 0.9% expansion. Also, demand for the currency was
The South Korean Won was little changed at 1,116.30 per U.S. Dollar in the morning of Seoul trading session on Thursday. The currency was close to a 1,119.95 level, which is the weakest point since 27th of September. Markets wait for more detailed information on Cyprus issues and expect that the U.S. monetary policies will not be tightened yet.
The Japanese Yen appreciated by 0.3% to 95.77 per U.S. Dollar in the morning of trading session in London on Thursday. Markets were willing to buy the currency, as trade data indicated a lower than expected Japan's trade deficit, which contracted to 777.5 million Yen in February from 1.63 trillion yen in January. Also, investors wait for the first press
Farm commodities followed bullish trend on Wednesday as fears over Cyprus waned boosting demand for riskier assets. Moreover, signs of stronger demand for US grains as well as concerns over rain forecasts in Brazil pushed the commodity sector higher. Wheat rallied on talks that wheat's price discount to corn may result in an increase in demand from livestock producers. Iraq and
Energy futures except for natural gas moved higher on Wednesday after the EIA supply report indicated an unexpected drop in crude oil inventories last week. Furthermore, calming worries over Cyprus bailout as well as continuation of the growth-boosting measures by the Fed lifted the commodity sector. Crude and Brent oil advanced after the EIA report showed a drop in US inventories
Industrial metals were bullish on Wednesday ahead of China's HSBC flash manufacturing PMI release due on Thursday. Experts predict PMI to expand to 51.2 from 50.4 in the previous month. Moreover, decision of the Fed to leave its loose policy unchanged supported the commodity sector. Aluminum rose on expectations of production cuts and rising premium paid on the physical market amid
Precious metals were mixed on Wednesday after the Fed announced no changes to its loose monetary policy. Broadly weaker greenback also provided support to precious metals. Pushing the commodity sector lower, concerns over Cyprus started to alleviate thus dampening safe-haven appeal of the commodity group. Gold dropped as a recent increase in prices weighed on physical demand. The US Mint sold
U.S. equities rebounded from earlier losses this week, as the Federal Reserve extended its bond buying program to bolster economic growth and Eurozone's policy makers weighed options on a bailout plan of Cyprus. The S&P 500 Index rallied 0.7% to 1,558.71. First Solar jumped 5.9% for the biggest increase in the gauge to pace gains in tech shares that were
Palm oil increased to its highest level in a nine-day period on Wednesday amid speculations that inventories in Malaysia, the world's second-largest producer might be reduced by bigger exports amid a rebound in demand. June Palm futures increased by 1.1% to 2,441 ringgit a metric ton on the Malaysia Derivatives Exchange, its highest closing price since March 11.