Rural commodities, excluding coffee, advanced on Wednesday as dismal US data was easily offset by continuation of easing measures by the Fed. Weak US Dollar coupled with unfavorable US weather were supportive for farm commodities. Wheat surged on signs of improving import demand across the globe and poor prospects for this year's crops. National Weather Service reported no rains were
Energy futures were bullish on Wednesday after the Fed left its loose monetary policy unchanged. However, dismal US quarterly GDP reading as well as much bigger-than-expected increase in the US crude oil inventories put notable pressure on the commodity group. Crude oil climbed on hopes for solid demand amid easing measures by the Fed. At the same time, investor sentiment was
Industrial metals moved higher despite concerns over a potential slowdown in US demand after US GDP unexpectedly shrank in Q4 of 2012. Base metals found support on hopes easing measures by the Fed will stimulate US economy thus pushing up consumption of industrial metals. Aluminum and Nickel continued their upward movement on speculation that production cuts of Rio Tinto and
Precious metals apart from palladium jumped after the data showed US GDP unexpectedly contracted by annualized 0.1% in Q4 of 2012, compared to a forecast of 1.1% growth. Adding to gains of the commodity group, the Fed decided to leave its ultra-easy policy unchanged. Broadly weaker US Dollar and strong investment demand also pushed precious metals higher. Gold climbed on Fed's
UK stocks are trading lower on Wednesday as investors shunned risky assets after the data showed the US economy unexpectedly contracted in Q4. The US economy shrank 0.1% year on year in Q4 of 2012, compared to a forecast of 1.1% expansion. The FTSE 100 Index lost 0.16% and is currently trading at 6,329.32. Only four sectors managed to post
US blue chips were mostly bullish on Tuesday on speculation that the Fed will leave its easy policy unchanged despite recent positive economic data. Encouraging quarterly reports coupled with strong US housing market numbers also lifted the US stock average. However, dismal consumer sentiment data weighed on equities. US CB consumer confidence plunged to a 14-month low of 58.6 this
The Wall Street closed in the positive area on Tuesday amid mounting hopes that the Fed will decide to continue its loose monetary policy at its meeting on Wednesday. Sending the US stocks higher, quarterly results continued to beat expectations. The S&P 500 Index gained 0.51% to 1,507.84. Eight out of ten sectors included in the index were bullish. The
German equities are trading in the red territory after dismal US GDP data. US economy unexpectedly contracted by annualized 0.1% in Q4 of 2012, while analysis predicted GDP to grow by 1.1%. However, German stocks seem to have limited downside potential due to positive EU data and rising hopes the Fed will stick to its loose monetary policy. The DAX
Hong Kong equities jumped on Wednesday on hopes the Fed continues its easing measures. However, the appetite for riskier assets deteriorated after Citigroup warned growth in 2013 may be slower than expected as government may refrain from policy easing amid heavy inflationary pressure. Despite less optimistic China's growth outlook, Hang Seng Index jumped 0.71% to close at the highest mark
Japanese shares soared on Wednesday, tracking gains of US stock market. Market sentiment was further supported by hopes the Fed will continue its easing measures. Boosting exporters, the Yen depreciated against its US counterpart, attaining a 31-month low. The Nikkei 225 Index surged 2.28% to finish above 11,000 for the first time since April 2010. All but one sector rallied.
Farm commodities were mixed on Tuesday amid broadly weaker US Dollar and improved appetite for riskier assets. Unfavorable weather conditions in Argentina as well as concerns over spreading coffee leaf rust in Central America were supportive for rural commodities. At the same time, weak US export data pushed the commodity complex lower. Wheat slumped after the USDA report showed US wheat
Energy futures except for natural gas finished Tuesday's session in the green territory on hopes the Fed will decide to stick to its easy policy at its meeting on Wednesday. However, eased supply concerns pressurized the commodity group. Prince Abdulaziz bin Salman said Saudi Arabia would be able to maintain the current level of oil output for at least
Industrial metals climbed on Tuesday ahead of key economic data releases due on Friday. Weaker US Dollar also provided support. However, a larger-than-expected decline in the US CB consumer confidence as well as increased caution ahead of Fed monetary policy statement capped gains of base metals. Aluminum jumped on speculation that production cuts of Rio Tinto and BHP Billiton will result
Precious metals advanced on Tuesday on hopes the Fed will leave its loose monetary policy unchanged at its meeting on Wednesday. Moreover, weak consumer confidence data sent the US Dollar lower, boosting appeal of the commodity complex to other currency holders. Gold climbed on soft greenback and signs of strong physical demand from central banks. Gold holdings of Russia and
New Zealand's currency declined versus all the major peers before the monetary policy meeting of the nation's central bank tomorrow. The New Zealand Dollar weakened as much as 0.4% to 83.59 U.S. cents at 4:39 p.m. Sydney time after strengthening 0.7% yesterday. The Aussie fell 0.1% to $1.0468 after a 0.6% advance.
Asian shares rose, with the regional benchmark index set for the highest close since August 2011, as Japan's stocks increased on earnings and on speculation the Fed will maintain monetary stimulus. The MSCI Asia Pacific Index advanced 0.7% to 133.47 at 3:31 p.m. in Tokyo. Japan's Nikkei 225 Stock Average gained 2.3% and closed above 11,000, the first time since
Canada's Dollar rose the most versus the U.S. peer in almost a month following a 4-day losing streak. The loonie, advanced as much as 0.5% to C$1.0009 per greenback at 5 p.m. Toronto time, the largest gain since January 2. It touched the lowest level in almost six months and last traded lower than C$1.01 on July 27. One Canadian
South Korea's currency declined, trimming early gains, as foreign investors increased sales on the country's equities. Government bonds fell on a brightening outlook for economic growth. The Won fell 0.1% to 1,083.63 versus the U.S. Dollar at 10:30 a.m. in Seoul. The currency rose the most since September 14 yesterday after losing 1.7% on January 28.
Malaysia's Ringgit gained the most in 3 weeks as demand for emerging-market assets increased on speculation that the Fed will keep monetary stimulus. The Ringgit strengthened as much as 0.3% to 3.0751 per U.S. Dollar at 9:34 in Kuala Lumpur, snapping January's loss to 0.5%. One-month implied volatility increased 8 basis points, or 0.08 percentage point, to 6.31%.
Japan's currency weakened against most of the major peers as Asian shares rose for a second straight day, encouraging investors to buy riskier assets on expectations Japan will extend its monetary stimulus. The Yen dropped as much as 0.2% to 90.92 per U.S. Dollar and fell 0.2% to 122.62 per Euro. The Japanese Yen is set for a 4.6% decline
The U.S. 10-year bonds' yield was higher by one basis point, or 0.01 percentage point, to 1.97% in early London trading session on Tuesday. Benchmark of 10-year yields were in the highest level since April, 2012, ahead the U.S. $35 billion five-year securities auction and the second three notes sale of total $99 billion this week. Also, today starts the
The Japanese Yen was slightly higher by 0.2% to 90.71 versus the U.S. Dollar in Asian trading session on Tuesday. The Yen was very close to recent high at 91.26 and the greenback was in the strongest level since June, 2010. As Japanese stocks increase, upbeat sentiments for risky assets can weight the Yen on, specially against the higher yield
The BSE India Sensitive Index, also called Sensex, was lower by 0.4% to 20,031.24 points by midday trading session in Mumbai on Tuesday. Indian equities declined, erasing earlier gains, as the reduction of the key interest rate matched market expectations. Indian stock market volumes were higher by 16% than 30-day average. As the index moves to multi-year high, market will
Spot price of gold was higher by 0.5% to $1,664.33 an ounce in Singapore trading session on Tuesday. Recent increase ended four-day streak of losses, the longest losing period since October. Commodity investors wait for the U.S. Federal Reserve's meeting, when a stimulus to bolster the world's biggest economy will be discussed. The outlook on the monetary policy will be