Economic sentiment in Switzerland improved more-than-anticipated reaching the highest level since June 2010. The ZEW Indicator rose from -6.9 points in the preceding month to 10.0 points in February, while analysts expected the index to climb by 7.9 points to 1.0. The indicator has overpassed a threshold and reached positive area for the first time since April 2012. Meanwhile, analysts'
Japanese markets closed on the positive note on Wednesday amid upbeat data from domestic economy. Japan's exports climbed more-than-expected last month as exports to China swung to growth. However, the country's trade balance missed estimates in January. Meanwhile, investors continued to anticipate the naming of the new governor of the BoJ. The Nikkei 225 Index reached a 52-week high to
Dow Jones Industrial Average Index rallied on Tuesday, being boosted by strong performance of the broader S&P 500 Index. Pushing the US blue chips higher, German investor confidence improved more than expected last month. Meanwhile, market players remained focused on upcoming FOMC minutes due on Wednesday. The Dow Jones Industrial Average Index climbed 0.39% to close at 14,035.67. Six
US stocks closed higher on Tuesday amid speculation that the number of mergers and acquisitions will soar. Moreover, risk appetite among investors was boosted by upbeat reading of German investor sentiment indicator. The S&P 500 Index added 0.73% to end the session at 1,530.94. All but one industry included in the index jumped. The top-performers were oil and gas as
Soybeans grew to the highest in one week in Chicago on demand from China, the largest consumer of the oilseed, may increase, and on low rainfall in Argentina, the third-largest supplier, may delay harvesting. The contract for May-delivery of soybeans advanced 0.7% to $14.6775 a bushel in Chicago, after reaching $14.70, the strongest level since February 8.
Gold fell for a sixth consecutive session, the longest losing run in almost 4 years, and reached the lowest level since August on the economy recovery decreased demand. Economists expect minutes from Federal Reserve's meeting on January 29-30, published today, and the data on consumer costs and producer prices will show U.K. inflation is under control.The contract for immediate delivery
The Pound declined to the weakest level in 15 months versus the Euro as minutes from this month's Bank of England meeting showed more officials want to increase asset purchases to support the economy. The U.K. currency dropped 0.8% against the Euro and traded at 87.50 pence per Euro, the lowest since October 2011. The Pound depreciated 0.8% against the
Asian shares advanced for a third consecutive day, with the regional benchmark index expanding an 18-month high, on signs that the world's economy is recovering. The MSCI Asia Pacific Index gained 0.9% to 135.30 at 2:02 p.m. in Tokyo following yesterday's close at the highest level since August 2011.Japan's Nikkei 225 Stock Average added 0.8% even after a record trade
The South Korean Won advanced for a second straight day as the nation's central bank Governor Kim Choong Soo said that the country is expected to grow 2.8%, signalling further monetary stimulus are necessary now. The Won inched up 0.3% to 1,078.40 versus the U.S. Dollar at 10:35 a.m. in Seoul, with one-month implied volatility declining 21 basis points to
The New Zealand Dollar declined versus its major peers as the RBNZ Governor Graeme Wheeler said today in Auckland that the central bank is ready to intervene to control currency's level and "smooth the peaks" of the exchange rate. As a result, the kiwi weakened 0.7% to 84.13 U.S. cents at 1:59 p.m. in Sydney and lost 0.7% to 78.66
Rural commodities, excluding sugar, were bearish on Tuesday amid broadly stronger US Dollar and improved weather conditions in the US Great Plains. At the same time, a record number of net short positions in coffee and sugar created an upside potential for softs. Wheat dipped after MDA reported that rains over the weekend in the US Great Plains was above expectations,
Energy futures except for heating oil ended Tuesday's session in the positive area ahead of the EIA report due on Thursday. The commodity group found support on upbeat reading of German investor confidence indicator. However, increased caution ahead of FOMC minutes due on Wednesday and solid greenback cut gains of the commodity complex. Crude and Brent oil traded higher after Enterprise
Industrial metals declined on Tuesday as risk sentiment remained weak despite better-than-expected reading of German investor confidence indicator. Recent data showing that the Eurozone's economy fell into deeper than expected recession continued to weigh on growth sensitive assets. Adding pressure, China's demand may remain weak until March when factories reopen after holidays. Aluminum dived amid elevated LME inventories. LME stocks
Precious metals apart from palladium retreated on Tuesday as investors cashed out from the market ahead of FOMC meeting minutes due on Wednesday. At the same time, broadly weaker US Dollar and speculation that the Fed is likely to prolong its easing measures restricted the downward trend. Gold dropped losing a buying spree from increased physical demand from Asia after the
German shares are trading in the positive territory after better-than-expected reading of ZEW Indicator of Economic Sentiment. The ZEW Centre of Economic Research reported that its index of German economic sentiment jumped by 16.7 points to 48.2 in February, compared to estimates of a 4.3-point gain. The DAX Index advanced 0.78% and is currently trading at 7,688.09. Seven out of
UK stocks are trading higher on Tuesday after upbeat reading of German ZEW Economic Sentiment index. The FTSE 100 Index added 0.41% to trade at 6,343.83. Eight out of ten industries jumped. Consumer goods and financials led gains. Associated British Foods and Reckitt Benckiser Group soared 1.71% and 1.58%, while Standard Chartered and Aberdeen Asset Management rose 3.09% and
Hong Kong shares tumbled for the second consecutive session on Tuesday amid concerns that an increase in property prices will lead to fresh restrictions on the housing market. The National Bureau of Statistics reported that the average home price increased for a fifth month in line in December whereas investment in real estate surged by annualized 16.2%. The Hang Seng
Australian shares traded higher on Tuesday amid mixed earnings results. Meanwhile, uncertainty over whether the RBA will cut rates further this year weighed on stocks. In the minutes released today, the RBA stated it will wait to see more results of its loose monetary policy to decide whether more rate cuts are necessary in 2013. The S&P/ASX 200 Index gained
Japanese equities slumped on Tuesday amid profit-taking after previous rally. Moreover, broadly stronger yen sent exporters lower thus putting additional pressure on Japanese stock average. Meanwhile, investors' attention remained on the forthcoming naming of the new governor of the BoJ. The Nikkei 225 Index fell 0.31% to close at 11,372.34. Only three industries included in the index moved higher. The
Brazilian stock market closed in red for the fourth session in a row on Monday amid concerns over domestic economy. The survey conducted by the central bank of Brazil showed that the GDP is expected to rise 3.08% and 3.65% in 2013 and 2014, compared to estimates of 3.09% and 3.8% a week earlier. The Bovespa Index lost 0.50%
Farm commodities declined during the last five trading days amid worries over ample global supplies and weak demand for US grains. Updated weather forecasts suggesting rains in Argentina and the US Great Plains also added pressure. Wheat dropped as expectations for snow in the US Great Plains removed supply risk premium. However, wheat futures may climb on speculation that US farmers
Energy futures apart from natural gas finished in red on Monday as market participants shunned riskier assets after weak US industrial production data released on Friday. Fears over deepening recession in the Eurozone also weighed. Restricting the downswing, JODI data showed Saudi Arabia's output reached a 19-month low of 9.03 million barrels per day in December. Crude oil moved lower amid
Industrial metals were bearish on Monday amid weak appetite for growth sensitive assets. The risk sentiment remained weak after the data last week showed the Eurozone's and Japan's economies performed worse than expected in the last quarter of 2012. Aluminum retreated from a six-week high on concerns that Chinese investors who returned after holidays will start selling the lightweight metal.
Precious metals except for gold advanced on Monday amid hopes the Fed will continue its loose monetary policy as Ben Bernanke said on Saturday that the US economy still faces downside risks. Moreover, persistent supply concerns lent additional support for platinum and palladium. Gold was the only loser, being pressured by solid greenback. At the same time, speculation that physical