Crude oil futures retreated during the Asian session on Monday following the progress of the Iranian negotiations with Western economies regarding its nuclear programme. The negotiations are likely to result in consensus and will be continued in May. Light, sweet crude oil futures for May delivery traded at 102.83 US Dollars per barrel on the New York Mercantile Exchange, falling
Consumer sentiment in the US declined in the beginning of April as it continued to balance between soaring petrol prices and improved economic outlook. The Thomson Reuters/University of Michigan's reading of its consumer sentiment index dropped from 76.2 in March to 75.7 this month. Experts predicted the index to stay unchanged from March's figure.
China has eased its currency control measures that is likely to result in more gains of the Yuan value. Starting from Monday, China's currency is allowed to swing to 1% during the trading session against its US counterpart from fixed value determined by the China's central bank, PBOC announced. The previous limit was 0.5%. The move is expected to contribute
The 17-nation currency depreciated against the Dollar, reaching one-month record low before Spain's bond auction due on April 17. Euro declined 0.4% to USD 1.3023 in Asian trade. It slipped also 0.4% versus Japanese Yen to JPY 105.36. Euro is vulnerable to more severe drop in short term future if Spanish borrowing costs continue to climb, suggests Imre Speizer, Westpac
The Bank of Korea cut its economic expansion forecast for year 2012 citing surging Spanish borrowing costs European austerity measures as factors that are likely to hamper demand for South Korean exports. The central bank lowered growth forecast from 3.7% to 3.5%. Bank of Korea's representatives also expect a 0.3% contraction across Euro Zone this year.
Agricultural commodities advanced on Thursday on the weaker US Dollar and anticipation of new easing measures from the Fed. Grains were mostly bolstered by speculation that the US demand for livestock feeders will be stronger. Moreover overseas consumption is also likely to improve. However, wheat's rally was limited as Ukraine expected higher export volumes than predicted. Corn as well was
Energy commodities apart from natural gas surged on Thursday following Fed indication on likelihood of more easing measures in the US. However, the commodity group is likely to lose the supply risk premium as talks between Iran and world's largest economies will resume on Saturday. Moreover, OPEC reported that oil markets were sufficiently supplied and the reason for high energy
Industry metals soared on Thursday, being supported by promising Fed comments about weak state of the US economy. However, pessimistic outlook on the Euro Zone's economy after surging interest rates on Italy's and Span's debt limited the upward trend of the base metals pack. At the same time, traders were cautious ahead of key China's economic data release. Aluminum was
Precious metals rallied on Thursday amid softer US Dollar and solid equities. Weak US labour market data spurred speculation on further monetary easing in the country thus pushing precious metals up. At the same time uncertainty over the Euro Zone's stability grew after Italian and Spanish yields increased thus limiting the gains of the commodity pack. Meanwhile, from the supply
Japan's Nikkei Stock Average kept appreciating on Friday lifted by earnings reports and depreciating Yen. Nikkei 225 index gained 1.19% or 113.20 points and finished at 9,637.99. Heavyweight Fast Retailing rallied 8.6% after company reviewed up its fiscal year earnings forecast and reported an increase in provisional profits. Exporters Canon and Casio climbed 1.3% and 2.4% respectively. On the downside
Dow Jones Industrial Average index surged on Thursday as Fed's announcement offset higher than expected jobless claims effect. Blue chip index soared 1.41% or 181.19 points and closed at 12,986.58 mainly supported by Hewlett Packard which rallied 7.2% after Gartner reported the global PC industry advanced by nearly 2% in the 1st quarter and Hewlett Packard remained a market leader.
S&P 500 index extended gains on Thursday lifted by Fed's officials confirmation the interest rates will stay low. US benchmark index advanced 1.38% or 18.86 points and finished at 1,387.57 with basic materials creating the biggest gains. Google jumped 2.4% as the company reported higher than expected EPS for the 1st quarter. Drug distributor McKesson gained 3.9% after the firm
Australian Dollar declined after China reported its GDP slowed more than expected in the first quarter. Aussie dropped 0.4% vesrus greenback to USD 1.0392. In contrast Kiwi gained 0.3% against its US peer to USD 0.8300. Currently AUD/USD is trading at USD 1.0388 and NZD/USD is trading at 0.8292.
Crude oil futures retreated during the Asian trade on Friday amid firmer US Dollar and growing crude oil stockpiles in the US. Light, sweet crude oil futures for delivery in May traded at 103.31 US Dollars per barrel on the New York Mercantile Exchange, decreasing by 0.31%.
Canadian currency jumped to a highest level this year as Federal Reserve signalled interest rates will stay low to boost the economic growth. Canada's Dollar strengthened 1% to CAD 0.9943 on Thursday evening trade, marking the biggest one-session advance since November 30. Currently USD/CAD is trading at CAD 0.9958.
US share markets advanced on Thursday fuelled by investor hopes central banks will provide additional monetary stimulus amid hopes China will face a soft landing. S&P 500 index jumped 1.38% or 18.86 points to 1,387.57 while Dow Jones Industrial Average gained 1.41% or 181.19 points and closed at 12,986.58. Nasdaq Composite index added 1.30% or 39.09 points and finished at
European stock markets traded higher on Thursday as investors turned their focus to higher yielding assets on speculation Fed will keep US benchmark rates low. Stoxx Europe 600 index jumped 1.2%, UK FTSE 100 index gained 1.3% and Italian FTSE MIB index added 1.2%. French CAC 40 and German DAX index climbed 1% while Spanish IBEX 35 declined 0.8%.
British trade deficit broadened in February, Office for National Statistics reported on Thursday. Data suggest the economy was stagnating in the firs quarter. The trade gap widened from GBP 2.5 billion in January to GBP 3.4 billion in February. In contrast economists expected the shortfall to contract by around GBP 2 billion.
China's financial institutions provided more Yuan loans than initially expected in March that experts interpreted as fresh signs of monetary easing. New loans hit 1.01 trillion Yuan while analysts predicted the loans to achieve 800 billion Yuan, according to the PBOC.
China's GDP grew less than initially expected in Q1 of 2012, reported China Statistics Bureau. Country's economy expanded by 8.1% in Q1 on an annual basis while experts predicted the GDP to grow by 8.4%. Many economists even hoped by 9.0% expansion. Meanwhile industrial production rose by 11.9% whereas retrial sales advanced by 14.8% in the period.
Italy's borrowing costs increased during last bond sale, escalating worries about Italy's ability to repay its obligations. Three-year bonds faced a rise in the interest rate from 2.76% to 3.89%. Adding to concerns over the Euro Zone's economic state, Greek unemployment rate surged to 21.8% in January as compared to 14.8% in January 2011.
US wholesale prices excluding fuel and food climbed more than expected in March as prices for soaps and light trucks surged. The core CPI advanced 0.3%, following a 0.2% growth in February. Analysts expected an 0.2% increase. The total CPI indicator remained flat instead of expected advance of 0.4%.
The number of applications for unemployment benefits advanced more than expected last week Labor Department reported on Thursday, renewing worries among Fed officials labour market rebound may be slower. Jobless claims rose by 13 000 during the week that ended April 7 reaching 380 000, a 2-month record high. Economists questioned by Bloomberg predicted a drop to 355 000.
Singapore's economy recovered in Q1 of 2012, forcing the country's central bank to tighten monetary measures to curb inflation. The GDP growth of the country accelerated by 9.9% in Q1 on a yearly basis, reported the Trade Ministry. Experts expected a moderate increase of 6.8% in Q1. After the data release, the Singapore's Dollar appreciated against its US counterpart by