Asian stocks gained as economic growth in China met economists' projections and U.S. housing starts increased. The MSCI Asia Pacific Index rose 0.8% to 123.91, set for the highest close since September 19. Japan's Nikkei 225 Stock Average climbed 2% and Australia's S&P/ASX 200 gained 0.9%. South Korea's Kospi Index rose 0.1% and Hong Kong's Hang Seng Index advanced 0.6%.
Australia's Dollar reached the strongest level in 2 weeks after data from China showed signs of stabilizing economy, brightening the outlook for exporters of the Pacific nation. The Aussie Dollar touched $1.0397, the highest level since October 1, before trading at $1.0388. It gained 0.3% to 82.20 yen. The New Zealand traded at 82.17 U.S. cents and gained 0.3% to
Canada's currency advanced for the first time in 4 days versus the greenback as risk-on sentiment renewed demand for commodity currencies. The Loonie strengthened 0.9% to 97.80 cents per U.S counterpart, after falling 0.6% yesterday. One Canada's Dollar buys $1.0225. Investor risk appetite renewed as Spain retained its credit rating from Moody's Investors Service.
The Japanese Yen fell to a one-month low as Asian stock gained and optimism EU leaders meeting in Brussels will take measures to solve the Eurozone's crisis curtailed demand for haven assets. The Yen fetched 79.22 per U.S. Dollar, the weakest level since September 19, before reaching 79.13 per greenback. Japan's currency traded at 103.62 per Euro, after reaching 103.85
U.S. stocks turned green on Wednesday, as upbeat data from the U.S. pointed to property market recovery. The Dow Jones Industrial Average advanced 0.1%, to 13,543.30; the Standard & Poor 500 Index jumped 0.4%, to stand at 1,460.19, while Nasdaq 100 futures added 0.2%, to 3,109.02.
European stocks edged higher on Wednesday, October 17, as Spain dodged its credit rating downgrade by Moody's. The Stoxx Europe 600 Index rose 0.47 per cent to 275.66. Germany's DAX Index edged higher 0.25 per cent to 7,394.55 and France's CAC 40 Index rocketed 0.76 per cent to 3,527.50.
German equities inched higher on Wednesday as concerns over economic uncertainty in Spain eased. Moody's left Spain's credit rating unchanged but warned that negative outlook remained. Pushing German shares higher, US building permits and housing starts beat estimates last month. The DAX Index eased up by 0.06% to trade at 7,380.62. Five out of nine sectors included in the index
UK shares remained higher on Wednesday as Moody's left Spain's credit rating unchanged ahead of the two-day EU summit due to start on Thursday. Upbeat data from the US property market was also supportive for the UK stocks. However, BoE minutes indicated that policy makers are split on the necessity to launch more stimulus measures, thus capping gains of the
Hong Kong equities jumped for the fifth day in a row on Wednesday ahead of the key China's data releases due later in the day. Mounting hopes that the POBC may consider stimulus measures in view of slowing economy pushed Hong Kong blue chips higher. Positive data from the US and Europe also lifted Hong Kong equities. The Hang Seng
Japanese equities continued their rally on Wednesday on upbeat US data and easing concerns over indebted eurozone. Weaker Yen also supported Japanese stock index, pushing exporters higher. The Yen depreciated to one-month low against the US Dollar. Moreover, worries over poor corporate earnings eased after US counterparts started to report strong results in Q3. The Nikkei 225 Index surged 1.21%
US blue chips soared on Tuesday on encouraging news from the US and Europe. US factory production rose more expected last month while German investors' sentiment improved in October. Sending the US blue chips index higher, earnings of Dow companies beat expectations in Q3. The Dow Jones Industrial Average Index advanced 0.95% to close at 13,551.78. Eight out of nine
US stocks rallied on Tuesday after the Labor Department announced that CPI rose only by 0.1% in September, indicating that consumers have more money to spend. Moreover, slower CPI growth leaves a room for further easing from the Fed. Adding to the positive mood of the US equities, US industrial production climbed 0.4% last month, beating expectations of a 0.2%
On Monday, futures for U.S. stocks were traded higher, as U.S. housing starts surged more than expected, reaching the highest level since July 2008. S&P 500 futures expiring in December increased by 0.3% and reached 1,452.8 by 8:44 a.m. New York time. The index has grown by 1.8% since the beginning of the week.
Census Bureau reported on Wednesday that the number of new-home construction surged last month in the U.S., reaching a 4-year high and adding to signs of recovery. Housing start grew to 872,000 at an annualized rate, which was a 15% jump and the highest level since July 2008. Economists, however, expected that the building permits would reach only 770,000.
On Wednesday, the British Pound was traded higher versus the U.S. Dollar, following U.K. employment data by the Bank of England, which showed that more Britons were working than it was expected. The Sterling added 0.3% versus the U.S. counterpart, reaching the level of $1.6168, which was the highest since Oct. 5, when the currency hit $1.6218.
On Wednesday, the Euro was traded higher versus the U.S. counterpart, as Spain avoided a downgrade in its credit rating by Moody's.The 17-nation currency edged 0.56% higher versus the greenback, reaching the level of $1.3126. Earlier in the day, the Euro hit a session high of $1.3133 and a session low of $1.3053.
On Wednesday, treasuries were declining for the third consecutive day, which was the longest streak of losses since September 6, as Moody's Investors Service had not changed its rating for Spain, thus weakening demand for safer assets. The yield on benchmark 10-year government bonds added 4 basis points, reaching 1.76% by 7:20 a.m. in New York.
On Wednesday copper prices were falling during European morning trading session, as investors eyed and upcoming data on Chinese GDP. On the NYMEX, December delivery for copper were traded at $3.692 per pound, which was a 0.2% fall for the session. Earlier in the day, prices grew by 0.7% and reaching $3.726, which was the highest level for the session.
The Center for European Economic Research reported on Wednesday that Swiss economic sentiment increased to a five-month high, which was a higher growth than expected. ZEW economic expectation indicator added 6 points, reaching a level of minus 28.9, compared to a preceding month's reading of minus 34.9. Economists expected that the indicator would improve to minus 32.0.
Crude oil futures for November settlement were up by 31 cents to $92.40 during Asia trading hours. Oil price is pushed up by optimism that Germany might ease resistance to a bailout for Spain and provide a preventive credit line. Also, yesterday's data for the U.S. factories output exceeded estimations twice, as the figure rose by 0.4% in September. Today
Rural commodities, excluding wheat, advanced on Tuesday, drawing strength from weak US Dollar and positive data releases from the US and Europe. Capping the upside of farm commodities, demand for US exports remained soft due to availability of cheaper supplies from Brazil and Russia.Wheat inched down for the third consecutive session on speculation that rains in Kansas, the top US
U.K. unemployment rate slipped unexpectedly in August, the Office for National Statistics said on Wednesday. The rate dropped to 7.9% between June and August, compared to 8.1 in the March-May period. Economists estimated no change in the rate. The average earnings advanced 1.7% on year, above forecast of 1.6% rise. The amount of jobless claims slid by 4,000 on month
The Pound lost its value by 0.3% against the Euro, reaching 81.38 pence per Euro in the early London trading session. That was a second day as the Pound weakened, bringing it to the four-month low against the Euro, amid Moody's maintained Spain's credit rating. Today the Sterling depreciates before the Bank of England releases the minutes, which will indicate
Energy futures except for crude oil retreated on Tuesday despite broadly lower greenback and encouraging US and German numbers. Lending additional support for energy prices, output from the North Sea continued to drop while turmoil in the Middle East persisted. Crude oil was the only gainer amid depreciating US Dollar and strong economic data from the US and Germany. Easing