U.S. stock futures tumbled on Monday, cutting a part of last week's advance, as traders turned their interest towards Asia. Dow Jones futures dropped 23 points to 13,495. Futures on S&P 500 deteriorated 3.5 points to 1,455.5, while those on Nasdaq 100 slipped 4.5 points to 2,845.75. The DXY Dollar index gained 0.1% to 78.935.
The Euro weakened on Monday on unrest in Spain as Mariano Rajoy thinks whether to request the economic help or not. The Euro depreciated against its major counterparts, easing 0.1% and reaching EUR102.81 versus the Yen; and sliding down versus the greenback to USD1.3102, which was a 0.2% decline. On September 14, the 17-nation currency hit a 4-month high against the U.S. Dollar and Yen.
On Monday, 30-year treasuries snapped a 4-day decrease as Fed's efforts to stimulate the economy will take some time to work. 30-year yields eased 1 basis point and were equal to 3.08% at 9:27 a.m. In London. Yields on benchmark 10-year notes were down 2 basis points and reached 1.87% on expectation of contraction of New York manufacturing.
On Monday, futures for crude oil trimmed the last week's gains during Asian trading hours, as traders were selling crude contracts for profits. On the NYMEX, November delivery futures for light sweet crude were traded at USD99.28 per barrel, which was a 0.06% for the trading session. Earlier, the contracts hit USD99.15 and, which was a session low, a session high of USD99.52 per barrel.
On Monday, prices for gold were steady during European morning trading hours, as traders locked in profits following a Fed rally, when contracts for gold hit a 6-month high. On the NYMEX, October delivery futures for gold were traded at USD1,769.35 per troy once, which was a 0.05% gain for the trading session. Earlier, gold futures hit USD1,768.35 per troy once, a session low.
Istat, reported on Monday that Italian trade balance in July, 2012 was EUR4.49 billion on a seasonally adjusted basis, up from the June's trade balance of EUR2.52 billion. Analysts, however, expected a slight decrease to EUR1.97 billion. Italian exports gained 4.3%, whereas its imports decreased by 4.3% in July.
Eurostat reported on Monday that the trade balance, which is the difference between exported and imported goods and services, for Eurozone in July 2012 was EUR15.6 billion on a seasonally adjusted basis, up from a June's figure of EUR13.6 billion. Imports in July fell by 1.2%, whereas exports decreased by 2.0% from the preceding month.
European Central Bank reported on Monday that Eurozone current account fell to a seasonally adjusted figure of EUR9.7 billion in July. There was a surplus for goods (EUR7.5 billion), services (EUR6.2 billion), and income (EUR 1.7 billion), whereas there was a deficit in current transfers (EUR5.8 billion). Analysts expected that the current account would fall to EUR10.9 billion.
Rural commodities rose for the second consecutive day on Friday as QE3 in the US fuelled demand hopes for the commodity group. Broadly weaker US Dollar also created strong support for the farm commodities. Wheat reached one-month high after ANZ Bank cut its forecast for Australian wheat crops to 20 million tons, below the USDA estimate by 6 million tons. Corn
Energy commodities apart from natural gas gained, remaining well-supported by Fed decision to implement stimulus measures in the US. Moreover, escalated tensions in the Middle East created strong upward pressure on the commodity group. Crude oil moved higher on easing measures in the US and supply concerns from the Middle East. Persistent tensions over Iran's nuclear program continued to lend support
Industrial metals rallied after the Fed announced QE3 on Thursday. The base metals' pack also found support on weaker greenback and hopes that China may ease its prudent monetary policy. At the same time, disappointing US industrial production data capped the upswing of the commodity group. Aluminum jumped on hopes for better demand from the US and slightly lower inventory levels
The Reserve Bank of Australia reported the nation's currency is held by 23 central banks across the globe. The central banks of Russia, Germany, Brazil, Hong Kong, South Korea, Sweden, Switzerland and Poland are among 15, which hold the Australia Dollar. Among 8 possible holders are Indonesia, Malaysia, Iceland, Jordan and Singapore.
Precious metals ended the week on the positive note, drawing strength from long-awaited QE3 announcement made on Thursday. Adding to the positive mood of the commodity group, the greenback continued to depreciate on dismal industrial production data from the US. Gold approached almost seven-month high, being strongly supported by stimulus program in the US and weak US Dollar. Silver was flat after
Asian ex-Japanese stocks fluctuated on speculation that the Fed's stimulus announced on September 13 may increase inflation concerns for Asian countries. The MSCI Asia Pacific ex-Japan Index rose 0.2% to 442.71, setting for the highest close since May 2. Australia's S&P/ASX 200 Index gained 0.3%, while the Kospi index slid 0.3%. The Shanghai Composite Index fell 1.5%, whereas Hong Kong's
The Japanese Yen strengthened versus most of the major counterparts before the BOJ's 2-day meeting as investors weigh whether the central bank will expand its monetary easing. Japan's currency advanced 0.2% to 102.75 per Euro after a sharp fall of 3.1% in the past 4 days. It rose 0.2% to 78.25 per U.S. Dollar after fetching 77.13 on September 13,
The Australian Dollar fell from near six-months high on concern European officials struggle to find agreement to solve the debt crisis, thus curtailing demand for riskier assets. The Aussie Dollar declined against most of 16 major peers before Spanish Prime Minister Mariano Rajoy meets Italian Prime Minister Mario Monti in Rome. The Aussie Lost 0.2% to $1.0533 from $1.0551 on
US industrial output contracted the most in three years in August amid oil production cuts and slowing factory production. National industrial production slumped 1.2% last month while factory output slid 0.7%, indicating retailers' reluctance to purchase inventories during global economic uncertainty. Meanwhile, retail sales climbed for the second consecutive month on increasing spending on fuel. However, experts claim that positive retail sales data were a result
U.S. consumer sentiment surprisingly rose in early September, reaching four-month peak, as Americans were more optimistic about nation's economic and job prospects, the University of Michigan said on Friday. September consumer sentiment index jumped to 79.2, up from 74.3 in the prior month.
As reported by the Federal Reserve, industrial production in the U.S. fell most since 2009. Industrial production fell to -1.2%, down from 0.5% in the preceding month, while experts had predicted a 0.2% rise. At the same time, manufacturing output lost 0.7% last month.
German stocks surged on Friday as market sentiment was boosted by Fed's announcement about the new round of QE. The Fed reported that it will spend USD40 billion monthly to purchase mortgage-backed securities to stimulate faltering economic growth. The German DAX Index added 1.50% to trade at 7,414.47. Eight out of nine business sectors included in the index advanced. The
UK equities soared on Friday as the Fed announced new round of asset-purchases on Thursday. Meanwhile, investors focused on talks between Eurozone's finance ministers in Cyprus about whether Spain has to ask for financial backup after recent ECB decision sent borrowing costs sharply lower. The FTSE 100 Index surged 1.68% to trade at 5,914.40. Seven out of ten sectors within
U.S. retail sales grew to a seasonally adjusted 0.9% in August, up from 0.8% in the previous month, as demand for autos and gasoline rose sharply, the Commerce Department said Friday. Gas stations rose 5.5% last month, while auto sales jumped 1.3%.
The Aussie rose to a month-high against the U.S. counterpart as Fed's decision for a third quantitative easing round weakened demand for the greenback. The Aussie traded at $1.0580, after reaching $1.0588, the highest since Aug.9, poised for a 1.9% weekly climb. It also advanced 0.4% to 82.06 Yen. The Kiwi surged 0.4% to 83.43 U.S. cents, after earlier hitting
Consumer prices in the world's biggest economy rose more than expected in August, as gasoline prices soared by 9%, the Labor Department said Friday. U.S. CPI jumped to 0.6%, up from 0.0% in the prior month. Analysts had expected U.S. inflation rate to rise 0.5% last month.