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
European stocks rose on Wednesday, lead by a surge in Spanish stocks after Moody's Investors Service confirmed the country's sovereign rating at Baa3, holding it out of junk level for now. The Stoxx Europe 600 added 0.1% to 274,75. The IBEX 35 soared 1.5% to 8,058.20, while the 10-year Spanish bond yield slid to 5.22%. The CAC 40 gained 0.4%,
Industrial metals apart from copper extended previous losses on Tuesday despite easing worries over fiscal instability in eurozone. Market players were cautious ahead of China's GDP data release due on Thursday. At the same time, upbeat reading of the US industrial production for September capped the downswing of base metals.Aluminum dropped amid on-going concerns over global supply glut. Rising cautiousness
Australia's leading economic indicator surged above its long-term trend in August, for the first time in a year, Westpac and Melbourne Institute reported on Wednesday. The annually adjusted growth rate of the index was 3%, compared to a long-term trend of 2.7%. On monthly basis the index added 0.5% to 286 from 284.7 in July.
Precious metals moved higher on Tuesday amid broadly lower US Dollar. Market sentiment was also boosted by eased concerns over spreading eurzone crisis after Moody's affirmed Spain's rating. Meanwhile, global growth fears and hopes for further easing continued to provide support for the commodity group.Gold jumped as reports that Spain moves closer to applying for a bailout sent the greenback
Gold advanced for a second day, rising alongside other commodities, ahead of EU leaders' summit this week on belief that Spain may obtain credit from the Eurozone rescue fund, and weaker U.S. Dollar. On Wednesday, spot gold added 0.3% to $1,753.53 per ounce and traded at $1,751.28, after a 0.6% climb yesterday. Cash silver and palladium gained 0.6% each, while
Asian stocks rose as the U.S. industrial production surpassed expectations and Moody's Investors Service did not change Spain's credit rating. The MSCI Asia Pacific Index gained 0.9% to 122.77. Japan's Nikkei 225 Stock Average advanced 1.2%, Australia's S&P/ASX 200 gained 0.8% and New Zealand's NZX 50 Index rose 0.6%. South Korea's Kospi Index climbed 0.6%.
China's currency advanced to the highest level in 19 years after the People's Bank of China bolstered the Yuan's reference rate by 0.12% to 6.3028 per U.S. Dollar on U.S. second presidential debate. The Yuan gained 0.15% to 6.2547 versus the greenback, after touching 6.2530 earlier, the strongest since 1993.
China's inflation cooled almost to the slowest pace in 2 years in September, providing the government with a room for policy easing should the nation's economy deteriorate. Consumer prices increased 1.9% from the previous year, whereas producer-price index declined 3.6%, according to the National Bureau of Statistics. Another report showed that China's imports rose 2.4 % from 2011, while exports
Australia's currency rose to the highest level in 2 weeks and government bonds declined on speculation Spain will ask for a sovereign bailout increased appetite for higher-yielding assets. The Australian Dollar advanced 0.3% to $1.0307, after earlier touching $1.0324, the strongest level since October 2. The Aussie Dollar climbed 0.1% to 81.12 yen.
The 17-nation currency strengthened to the highest level in a month on speculation that Spain will ask for a financial assistance, thus helping tame the Eurozone's debt crisis. The Euro rose 0.3% to $1.3091 after earlier touching $1.3124, the strongest level since September 17. It fetched 103.52 yen, the highest since September 19, before being at 102.99.
European stocks edged higher on Tuesday, October 16, amid growing hopes Spain is one step closer to making a formal bailout request. The Stoxx Europe 600 Index surged 1.32 per cent to 274.38. Germany's DAX Index edged higher 1.58 per cent to 7,376.27 and France's CAC 40 Index rocketed 2.36 per cent to 3,500.94.
U.S. stocks extended gains on Tuesday, lifted by the better-than-expected U.S. economic data and as several major companies reported strong earnings. The Dow Jones Industrial Average advanced 0.9%, to 13,541.72; the Standard & Poor 500 Index jumped 1.01%, to stand at 1,454.65, while Nasdaq 100 futures added 1.14%, to 3,099.34.
German shares rallied on Tuesday on larger than expected increase in German economic sentiment. German ZEW economic sentiment index improved to minus 11.5 this month, beating expectations of a reading of minus 15.0. Moreover, two German officials announced that the country is open for Spain searching for precautionary credit line. The DAX Index soared 1.31% and is currently trading at
UK equities climbed on Tuesday as market mood was improved after German economic sentiment index beat expectations this month. Meanwhile, UK inflation stood at 2.2% in September, the lowest level in almost three years. Currently, market players are anticipating the EU summit due on Thursday. The FTSE 100 Index jumped 0.98% to trade at 5,862.40. All sectors within the index
Hong Kong shares extended their gains on speculation the POBC may ease its policy amid lower inflation. Positive data from the US coupled with stronger US and Asian equities also sent China's stocks higher. The Hang Seng Index gained 0.28% to close at 21,207.07. Seven out of nine sectors included in the index advanced. The top-performers were oil and gas
Japanese equities advanced on Tuesday on weaker Yen and upbeat retail sales numbers from the US. Moreover, mounting hopes that the POBC will launch more growth-boosting measures lifted equities. However, recent downward revision of Japanese industrial output continued to limit shares' rally. The Nikkei 225 Index surged 1.44% to end the session at 8,701.31. All but one sector within the
The Dow Jones Industrial Average Index gained 0.72% to close at 13,424.23. Market sentiment was boosted by encouraging retail sales data and mounting hopes that China will embark on easing measures. However, on-going uncertainty whether Spain will apply for a bailout continued to weight down on the US blue chips. Eight out of nine sectors included in the jumped. The
US shares surged on Monday on upbeat US retail sales data. US retail sales soared 1.2% in September while experts predicted the retail sales to rise by 0.8% last month. Adding to the positive mood of the US equities, China's inflation rate decelerated to 1.9% last month, suggesting that the POBC has a room for monetary easing. The S&P 500
On Tuesday, the British Pound advanced versus the U.S. counterpart on speculation about a 'soft' Spanish bailout, but gains seemed to be capped by concerns over further monetary stimulus by the Bank of England. GBP/USD was traded at 1.6123, which was a 0.33% gain for the European afternoon trading session. Earlier, it hit a session high if 1.6132.