Gold futures advanced to their highest level in over three months as unrest in Syria intensified and spurred safe-haven buying across the world. The December gold contract increased 0.53% to $1,427.00 per ounce, while silver futures inched up 1.09% to $24.925. The SPDR Gold Trust assets hit the highest level since August 1, climbing 0.1% to 921.03 metric tons.
The Australian currency has dropped to the lowest level in three weeks versus the U.S. Dollar and to over three-year low against the 17-nation currency as traders seek for safer assets amid growing outlook of military decision against Syria. The Aussie declined 0.56% to $0.8935 against the greenback. The Oz dollar retreated 0.78% to $1.5011 versus the Euro.
Asian shares declined as tension around Syria boosted massive sell-offs, which fueled the save haven Japanese Yen and hurt Japanese overseas sellers. Japanese Nikkei 225 decreased 1.49% to 13,341.83, continuing to decline since August 23, while Australian S&P/ASX 200 index plummeted 1.00% to 5,089.70 and Hong Kong's Han Seng index slipped 1.48% to 21,557.00.
The Australian currency declined against all 16 major peers as volatility headed towards the highest level in six weeks, curbing demand for the currency. The Australian Dollar plummeted 0.8% to 89.58 versus the U.S. Dollar and New Zealand's Dollar retreated 0.6% to 78.02 against the greenback. One-month volatility for the Australian currency increased to 13.03%.
Copper futures recovered as unrest in Syria intensified, damping investors' risk appetite, while the Federal Reserve tapering uncertainty still weighs. The December copper contract advanced 1.34% to $3.364 per pound. The U.S. Dollar index rallied 0.09% to 81.481 and gold gained 1.85% to $1,419.00 per ounce.
The U.S. Consumer Confidence Index advanced from 80.3 in July to 81.5 points in August. The number of consumers who expected business conditions to worsen decreased from 11.3% in July to 11.2% in August, while those expecting more jobs in future climbed from 16.7% to 17.6% and those expecting fewer jobs declined from 17.7%to 17.3%.
The Canada's currency declined for the second day after John Kerry announced the U.S. will hold Syria's government to account for using deadly chemical-weapons boosted demand for the safer assets in the U.S. The Canadian Dollar plummeted 0.3% to C$1.0528 versus the greenback, touching the weakest level in seven weeks.
U.S. stock-index futures fell, indicating the S&P's 500 Index will decline for a second day, while tension over possible military activity in Syria increased and investors awaited data showing reduction in consumer confidence. September futures on S&P 500 lost 1% to 1,637.50 as of 8:45 a.m. New York time, while contracts on the Dow Jones Industrial Average slid 0.8% to
European shares declined the most in nine weeks as John Kerry announced the U.S. will hold Syria's government to account for deadly chemical-weapons attacks on its people, damping investors' risk appetite. The Stoxx 600 dropped 1.8% to 299.15 in London, adding to signs the index has still jumped 8.5% from the lowest level this year on June 24.
Corn fluctuated between gains and losses following the biggest increase in over a year while investors weighed the prospects for hot, dry weather in the Midwest against outlook of an all-time high U.S. crop. Soybeans swung. The corn for December settlement advanced 0.8% to $5.0425 per bushel, adding to signs corn has declined 28% this year.
West Texas Intermediate crude futures continued to increase, while conflict in Syria has amplified an the world is expecting the reaction from U.S. WTI advanced 0.93% to $106.91 a barrel, as the contracts for October settlement jumped to $106.84 a barrel yesterday. The Brent crude stayed above the $111 a barrel level, rallying 0.65%.
Sentiment among companies in Germany advanced more than expected in August, however the 17-nation currency declined. The German business sentiment for August increased from 106.2 in July to 107.5, beating analysts expectations of 107.0. The common currency decreased 0.21% to $1.3340, following a jump of 0.04% to $1.3374.
Gold advanced to the highest level in over two months after a decrease in sales of bullion exchange-traded product and on political tension over Syria. Gold for immediate settlement increased 0.4% to $1,410.45 per ounce, while the December bullion contract rallied 1.2% to $1,410.20. Silver for immediate settlement dropped 0.1% to $24.2845 per ounce.
Italian five-year securities decreased for the third day, sending the yield to the highest point this month, as Italy prepared to auction 18.5 billion euros of notes this week. Italy's five-year bond yield jumped four basis points to 3.29% and the 3.5% security maturing in June 2018 plummeted 0.165 to 101.045, while the 10-year yield jumped two basis points to
U.K. government gilts increased on speculation the Bank of England Governor Mark Carney may confirm tomorrow his intention to keep borrowing costs at the record low. The 10-year U.K. bond yield declined seven basis points to 2.64% and the 1.75% bond maturing in September 2022 jumped 0.57 to 92.875.
Shares in Europe continued losing, with equities mostly ignoring German business indicator, while Increasing concerns over troubles in Syria overshadowed the IFO Business Climate data release. The pan-European Euro Stoxx 50 lost 1.61% to 2,776.09 at 8:22 a.m. GMT, while the Germany's Dax slid 1.47% to 8,311.56. The French CAC 40 reduced 1.44% to 4,008.65 and the UK FTSE 100
Oil prices soared on Tuesday as the Syria situation became worse and international military intervention is feared in the country, threatening large-scale supply disturbances from the Middle East. Iraq said it has reduced Kirkuk crude oil outbound shipment by over 50% in September. Futures of North American blend advanced on New York's Nymex from 0.25% to $106.19, while the European
Treasuries cut a three-day rise prior to reports on home prices and GDP, that may contribute to the case for the Fed to reduce stimulus next month. The U.S. 10-year yield was stable at 2.79% as of 6:36 a.m. London time, the price of the 2.5% August 2023 note lost $0.31 per $1000 face value, to 97 16/32. The U.S.
China's stocks fluctuated between losses and gains. Industrial companies advanced, when a report showed that profit growth gathered speed, while phone and shipping companies fell. The Shanghai Composite Index soared less than 0.1% to 2,096.67 at 2:06 p.m., while the CSI 300 Index dropped 0.3% to 2,329.86. The profit growth for industrial companies stepped up from 6.3% in June, to
Canadian currency lost against its major peers as speculations on when the Fed decreases the monetary stimulus pace in the U.S. caused weighing on riskier assets. The loonie fell 0.2% to 1.0515 Canadian dollars per U.S. Dollar as of 10:11 a.m. New York time, following a drop of 0.4% to 1.0533 on August 23. Canada's government bonds advanced, sinking the
The U.S. currency declined versus the 17-nation currency, as the data on durable goods orders indicated the measure fell in July amid a decrease in the transportation sector. The greenback retreated 0.06% to $1.3382 against the Euro and slipped 0.15% to $1.5589 against the Sterling, and plummeted 0.32% to 98.35 versus the Yen.
Asian shares advanced for the second day as U.S. home sales declined and curbed the case for the Federal Reserve to cut bond purchases next month. The MSCI Asia Pacific Index climbed 0.1% to 131.46. Japanese Topix index dropped 0.1% and Australian S&P/ASX 200 gained 0.2% and New Zealand's NZX 50 Index rallied 0.5%.
Silver prices advanced over 1%, following disappointing U.S. home sales report, which provided sins that U.S. economy may not have grew enough for the Fed to star tapering next month. Bullion failed to maintain its previous jumps, ignoring supply worries in South Africa and inflows into old funds. Silver futures increased 0.75% to $23.920, while Gold contracts declined 0.15% to
Italian government bonds decreased for the second day ahead of the Euro block's largest sovereign-debt market auctions bonds this week. Italy's 10-year bond yield jumped six basis points to 4.39% and the 4.5% note maturing in May 2023 slipped 0.495 to 101.215. Italy will sell securities worth of 4 billion euros tomorrow.