The Australian Dollar weakened versus all its major counterparts as the nation's central bank kept its key arte unchanged at 3%, the half-century low. The Aussie Dollar lost 0.4% to $1.04, and it dropped 0.4% to 96.06 yen, after trading at 97.08 a day earlier, the highest level since August 2008. According to the RBA's statement, the inflation outlook provides
Asian shares declined, pushing the regional benchmark index lower from the highest level in 18 months, on renewed worries about the Eurozone's debt crisis. The MSCI Asia Pacific Index fell 0.7% to 132.72 with almost 4 stocks declining for each that advanced. Australia's S&P/ASX 200 Index slid 0.4% after the RBA kept its key interest rate at 3%.
Farm commodities tumbled on Monday on speculation that expected rains in Argentina will boost crop prospects. Additionally, firmness in the US Dollar and concerns over ample global supplies dragged the commodity complex lower. Wheat retreated for the third session in a row after the USDA report showed the US wheat exports dropped 32% last week. Pushing wheat futures lower, US Great
Energy futures, excluding natural gas, dipped on Monday after disappointing US factory orders numbers sparked profit taking. Political instability in Spain coupled with firm US Dollar added pressure on the commodity group. At the same time, geopolitical tensions in the Middle East lent some support for energy prices. Crude oil declined on profit taking and solid greenback. Furthermore, a recent jump
Industrial metals apart from aluminum finished in the positive area on Monday despite weaker-than-expected US factory orders reading. US factory orders increased 1.8% in December, compared to forecasts of a 2.3% jump. Dampening market sentiment, political turmoil in Spain resurfaced after PM Mariano Rajoy faced allegations of corruption. Aluminum was the only loser amid broadly stronger greenback and disappointing US
Precious metals except for silver climbed on Monday, gaining inspiration from hopes the Fed will continue its easy monetary policy in the nearest future. However, solid US Dollar limited gains of the commodity complex. Gold continued to draw strength from expectations of stimulus measures by the central banks across the globe. Moreover, strong physical demand from Asia added to gains
German stocks plunged on Monday as market sentiment was dampened by political instability in Spain. Spanish PM and top officials of Popular Party faced calls to resign after allegations of corruption. Meanwhile, market players remained cautious ahead of the ECB press conference due on Thursday. The DAX Index dived 1.54% and is currently trading at 7,713.08. All industries included in
UK shares are trading lower on Monday amid political turmoil in Spain. Investors turned to safe-have assets after Spain's PM Mariano Rajoy and senior officials of Popular Party were alleged of corruption and faced calls to resign. Weak national construction PMI data as well as disappointing quarterly results of the largest UK companies also created heavy pressure on the UK
Hong Kong stocks retreated on Monday despite surging mainland's equities. Hong Kong shares gave back early gains after China's regulators approved the sale of HSBC's remaining stake in Ping An. However, the downswing was capped by strong performance of Japanese stocks and Friday's encouraging US numbers. The Hang Seng Index lost 0.16% to end the session at 23,685.01. Five out
Japanese stocks soared on Monday on surging consumer electronics companies. Moreover, strong Friday's performance of the Wall Street as well as upbeat US data spurred rally of Japanese equities. The Nikkei 225 Index climbed 0.62% to hit fresh 33-month high of 11,260.35. Seven out of ten industries within the index jumped. The top-performers were financials and consumer goods. Among lenders,
US blue chips jumped on Friday on upbeat US data. Despite being slightly worse than expected, US manufacturing PMI and labour market data signalled US economy is improving. Meanwhile, the Fed's decision to leave its loose monetary policy continued to lend support to riskier assets. The Dow Jones Industrial Average Index soared 1.08% to close above 14,000 at 14,009.79. All
US equities ended the week in the positive territory amid encouraging economic data releases. US UoM consumer sentiment was revised up to 73.8 in January compared with the December's figure of 71.4. At the same time, US final PMI showed expansion of the manufacturing activity despite being slightly below estimates. The S&P 500 Index rallied 1.01% to close at 1,513.17.
Producer prices in the 17-nation bloc contracted for the second successive month in December giving a chance for the European Central Bank to lower the interest rate in order to revive the economy of the bloc. Eurozone factory prices fell 0.2% in the last month of 2012 equally with factory prices of the 27-nation European Union recording in the same
Construction output in the U.K. missed economists' projections, as declined again in the month of January, recording the lowest figure since June 2012, the Markit survey showed on Monday. The Markit/CIPS Construction Purchasing Managers' Index stayed unchanged in January from the month before, when it slipped to a six-month low at 48.7 compared to forecast of 49.1."January's survey results are
The Pound strengthened versus the Euro ahead of U.K. industry report, which will show construction PMI increased in January, following decline to 87.17 pence per Euro on February 1, the lowest level in 15 months. Sterling appreciated 0.5% versus the Euro and traded at 86.53 pence per Euro. The Pound advanced against 15 of its 16 main peers and gained
The Taiwan Dollar appreciated the most in almost five months versus the U.S. counterpart on the U.S. and China's reports showed the world economic recovery accelerated, increasing demand for risky assets. According to the data the U.S. payrolls increased by 157,000 last month and services industries in China signaled the biggest gain since August. The Taiwan's Dollar strengthened 0.3% versus
Platinum rose to the most expensive in almost 4 month amid prospects for increasing demand as the world economy recovers while gold gained. Platinum for immediate settlement climbed 1.4% to $1,707.87 an ounce, the highest since October 9, and was at $1,703.75 at 3:16 p.m. in Singapore. Spot gold inched up 0.2% to $1,671.27 an ounce.
The Chinese Yuan fell to a one-month low as the nation's central bank cut the reference rate by 0.07% to 6.2860 per Dollar, increasing speculation policy makers protect the country's export versus a weak Yen. The Yuan declined 0.04% to 6.2294 per U.S. Dollar at 9:52 a.m. in Shanghai and touched 6.2304 per greenback, the lowest level since January 7.
Asian shares advanced, with the regional benchmark index climbing to the highest in 18 months, as U.S. payrolls rose and China's service sector expanded at the quickest pace since August, increasing optimism in the world economic recovery. The MSCI Asia Pacific Index gained 0.9% to 133.90, Japan's Nikkei 225 Stock Average added 0.6% and Hong Kong's Hang Seng Index climbed
Rural commodities were mixed on Friday, with softs advancing and grains retreating. Supporting softs, global coffee and sugar crops may drop this year. At the same time, weak demand for US grains pushed wheat and corn futures lower. Wheat was the top-loser for the second consecutive session amid signs of weak demand for US grains. The USDA report showed
Energy futures except for natural gas were bullish on Friday as upbeat manufacturing data boosted expectations for stronger energy demand from the US and China. Meanwhile, the Fed's stimulus measures coupled with soft US Dollar continued to support the commodity complex. Crude oil moved higher after falling in the previous session on elevated US inventories. The latest EIA report showed US
Industrial metals finished the week in the green territory amid positive US manufacturing numbers and weaker US Dollar. Moreover, China's PMI indicated expansion despite being slightly below market consensus. Aluminum moved higher on encouraging data from the US and China. However, aluminum remained under heavy pressure as LME stocks hovered near a record high of 5,24 million tonnes. Copper jumped
The Japanese Yen gained versus the Euro and trimmed drops against the U.S. Dollar as technical indicators showed recent declines were too rapid. The Yen advanced as much as 0.4% to 126.21 per Euro at 1:50 p.m. in Tokyo from the previous week, when the currency dropped to 126.97, the lowest since April 2010. It rose 0.1% to 92.65 per
Precious metals rallied on Friday, being boosted by the latest Fed's decision to stick to its loose monetary policy. Weaker greenback coupled with mixed US labour market data also spurred the rally. Gold moved higher as market players remained focused on the Fed's stimulus measures. Furthermore, strong demand from central banks across the globe as well as weakness in the