Japanese equities climbed on Friday, drawing strength from eurozone's optimism. On Thursday, the ECB president Mario Draghi pledged to buy bonds of the troubled eurozone's members to ease debt pressure in the region. However, the upswing was capped as the BoJ refrained from further stimulus measures despite signs of economic recession and mounting political pressure. The Nikkei 225 Index moved
Energy products moved higher on Thursday amid escalated tensions in the Middle East after Turkey won parliament approval to start military action in Syria. A fire at the US largest oil refinery triggered supply worries, thus sending energy futures higher. Crude oil rallied on the ECB president comments and escalated tensions in the Middle East. Broadly weaker US Dollar also created
The Dow Jones Industrial Average Index added 0.60% to close at 13,575.36. Encouraging job market data sent the US stock index higher. US unemployment claims advanced only slightly last week after a fall in the preceding week, thus signalling that the labour market is recovering. Optimism over the single currency union also boosted US blue chips. Eight out of nine
Base metals apart from zinc advanced on Thursday, following Mario Draghi comments that the ECB may start bond-purchasing from troubled eurozone countries to ease debt pressure in the region. However, slight increase in the US unemployment claims and continuous China growth concerns capped the upswing. Aluminum moved higher on lower LME inventories. Stocks at the LME-monitored warehouses fell by 8,755 MT
US stocks jumped after US labour data indicated that jobless claims rose only slightly last week after large fall in the preceding week. Positive news from the other side of the Atlantics also boosted US shares. The ECB president Mario Draghi said that the ECB is ready to purchase bonds from the troubled eurozone members. The S&P 500 sored 0.72%
Precious metals climbed on Thursday despite disappointing news from the ECB and BoE. The ECB and BoE left their monetary policies unchanged. However, Mario Draghi stated that the ECB is ready to purchase bonds of indebted eurozone members when conditions are suitable. The ECB president's comments buoyed the commodity group. Gold gained on stronger demand amid weak US Dollar and comments
The South Korean Won rose to the highest level in 11 months and government bonds declines after the ECB said that it is ready to start buying bonds in the Euro bloc. The Won gained 0.3% today and 0.1% this week to 1,110.40 per U.S. Dollar. South Korea's currency touched 1,109.60, the strongest since November 1.
The Canadian Dollar strengthened for the first time in 3 days versus the U.S. counterpart as Bank of Canada Senior Deputy Governor Tiff Macklem said officials may withdraw stimulus as the country's economy recovers. The Loonie rose 0.7% to 98.04 cents per U.S. peer. Canada's currency touched 98.84 cents yesterday, the lowest level since September 6.
The Australian Dollar will rebound by the end of the year amid demand for the world's highest-yielding assets even if the RBA lowers interest rate to a record, the currency's forecasters said. The Aussie will reach $1.05 by December 31 from $1.0268, according to Credit Agricole CIB. The median prediction from analysts is for $1.02.
The Yen rose from near 2-week low after the Bank of Japan kept its asset-purchase programme unchanged. The Yen climbed 0.2% to 78.32 per U.S. Dollar from 78.48 the previous day, when it traded at 78.72, the weakest level since September 19. Japan's currency gained 0.2% to 101.92 per Euro. The BOJ said that the bond-buying scheme will remained unchanged
German bonds slipped for the first time in three days on Friday as the ECB and Federal Reserve said they will continue to boost their economies, cutting demand for the safest assets. The 10-year yield jumped 2 basis points to 1.147%, after touching 1.49% yesterday, the highest since Sept. 26. The 1.5% note due in Sept. 2022 dropped 0.17 to
Gold was near 11-month high on Friday amid belief that central banks' stimulus from U.S. to Europe and Japan will fuel demand for the metal. Spot gold traded at $1,791.48, after surging 0.3% to $1,796.10 per ounce, the strongest intraday since Nov. 14. December-delivery gold slid 0.1% to $1,739.90 per ounce in New York. Platinum added 0.7% to $1,730.50 per
The Swiss central bank's foreign currency reserves expanded to an all-time high in September amid continuing weight on the franc ceiling. Reserves advanced to 429.3 billion Francs ($460.5 billion), compared to 420.8 billion Francs in August, the Swiss National Bank reported on Friday. Thomas Jordan, SNB President, has promised to impose the Franc ceiling of 1.20 per Euro enforced in
The Bank of Japan left its key interest rate unchanged between zero and 0.1% and monthly bond-buying at 1.8 trillion Yen. A fund that broadens credit to banks was kept at 25 trillion Yen. The bank revised down its evaluation of the economy for the second straight month, saying "economic activity is leveling off more or less".Junko Nishioka, a former
The Bank of Japan decided to refrain from more stimulus and remain its asset-purchase programme at 55 trillion Yen ($702 billion). This was largely expected by economists. Focus now turns to the meeting on October 30 as Credit Agricole and Morgan Stanley expect two consecutive quarters of contraction through the end of the year. "I see a very high chance for easing at the next meeting,"
The ECB President Mario Draghi said the central bank is prepared to start buying government bonds as soon as the requirements are met, forcing Spain to decide whether it request bailout. The European Central Bank stands ready to implement Outright Monetary Transactions, after the benchmark rate was left at 0.75%. "With the OMT, the ECB has tackled and exorcised fears of
German stocks retreated after the ECB left its benchmark interest rate unchanged. Spanish borrowing costs rose during today's auction, thus sending German blue chips index lower. However, positive data from the US labour market limited losses of the stock index. The DAX Index lost 0.30% and currently is trading at 7,299.77. Five out of nine sectors included in the index
UK equities rose on Thursday as the ECB and BoE decided to left the core interest rates unchanged. The ECB left its key interest rate at record low of 0.75% while the BoE left the benchmark interest rate at 0.5% and maintained its debt-purchase target at GBP375 billion. Adding to the negative mood of the UK equities, Spain's borrowing costs
Hong Kong equities inched up on Thursday on upbeat data from the US jobs market and services sector. However, traders remained cautious ahead of the ECB policy decision due later in the day. Sending Hong Kong shares lower, Asian Development Bank reduced its China GDP expansion forecast from 8.5% to 7.7% for 2012. The Hang Seng Index gained 0.09% to
Japanese shares climbed on Thursday on better-than-expected economic data releases from the US. Weakness of the national currency also sent exporters higher, thus adding to gains of the stock index. However, market players remained cautious ahead of the key US labour market figures release due on Friday. The Nikkei 225 Index surged 0.89% to end Thursday's session at 8,824.59. Seven
US blue chips climbed on inspiring US data releases. Market sentiment was boosted by positive reports from US labour markets and services sector. Meanwhile, investors await key jobs market data due on Friday. The Dow Jones Industrial Average Index gained 0.09% to lose at 13,494.61. Six out of nine sectors included in the index climbed. The biggest gains posted telecommunications
US equities advanced on Wednesday on encouraging economic data. US services PMI attained 55.1 last month compared to estimates of 53.4. Moreover, US non-farm employment increased more-than-expected in September. However, dismal services PMI releases from eurozone and China capped the upswing of the US stock index. The S&P 500 Index gained 0.36% to close at 1,450.99. Eight out of ten
U.S. unemployment claims increased last week, indicating an uneven labour market improvement. According to the Labour Department figures, the number of applications for unemployment benefits rose 4000 to 367 000, while economists projection was 370 000 claims. "We're not going anywhere quickly in the jobs market," said Ryan Sweet, Senior Economist at Moody's Analytics Inc. "The job market is just more
The ECB President Mario Draghi said the central bank is prepared to start buying government bonds as soon as the requirements are met, forcing Spain to decide whether it request bailout. The central bank stands ready to implement Outright Monetary Transactions, after the benchmark rate was left at 0.75%. "With the OMT, the ECB has tackled and exorcised fears of an imminent Eurozone break-up," said Carsten Brzeski,