The Australian Dollar touched a three-month low before a data this week, which may show jobless rate increased, adding to speculation the Reserve Bank of Australia may cut its interest rate next month. The Aussie Dollar declined 0.2% to $1.0164 after earlier reaching $1.0150, the weakest level since July 13. Australia's currency fell 0.4% to 79.81 Yen.
Energy futures sank on Friday despite softer US Dollar and supply-side support. Mounting uncertainty over eurozone's debt crisis pushed the commodity group lower. However, positive job market figures from the US limited losses of energy futures. Crude oil was the worst-performer on speculation that global demand is likely to fall amid economic slowdown in Asia and eurozone. Meanwhile, investors remained cautious
The World Bank revised its growth forecast for the East Asia and Pacific region downward on Monday and indicated that China's economic slowdown was likely to worsen and last longer than expected. However, it is anticipated that China will face a soft landing with a 7.7% growth outlook for this year and 8.1% for next year.
Base metals apart from zinc moved lower on Friday amid worries that China's economy continues to slow down. Sending industrial metals lower, German factory order plunged 1.3% in August, confronting forecasts of a 0.5% decline. Aluminum retreated ahead of the key industrial data from Germany due on Monday. Even slight decline in LME inventories failed to push the light metal
Asian stocks excluding Japan fell before European finance ministers meeting today. The MSCI Asia Pacific Excluding Japan Index fell 0.9% to 440.82, set for the first decline in 3 days. Hong Kong's Hang Seng Index lost 0.6% and China's Shanghai Composite Index slid 0.8%. South Korea's Kospi Index slipped 0.8% and Taiwan's Taiex Index lost 0.9%. Australia's S&P/ASX 200 Index
The 17-nation currency dropped versus all the major peers before a report, which may show that industrial production in Germany as well as its exports fell, increasing concerns the Eurozone's debt crisis is undermining growth. The Euro fell 0.4% to $1.2994 and lost 0.5% to 102.02 Yen after touching 102.80 on October 5, the highest level since September 19.
On Monday, the Cable declined to a 3-day low versus the U.S. counterpart, as investors eyed an upcoming meeting of finance ministers in Luxemburg. GBP/USD hit a session low of 1.6072, and consolidated at 1.6078, which was a 0.33% decrease. The support was likely to be at 1.5992, while the resistance at 1.6175.
On Monday, copper prices declined by more than 1 percent, trimming earlier gains, on worries that the U.S. economy is still depressed, and on upcoming Chinese data. On the London Metal Exchange, three-month copper was traded at $8,185.75 per metric tonne at 08:00 a.m. in London, which was a 1.3 percent fall for the session.
On Monday, German 10-year bonds were traded higher, decreasing yields, as investors eyed an upcoming meeting of European finance ministers in Luxembourg. 10-year notes yield decreased by 4 basis points, reached 1.48% by 9:41 a.m. in London. Earlier on October 5, it hit 1.53%, which was the highest since September 28.
On Monday, oil prices declined in Asian trading hours, as investors eyed presidential elections in Venezuela. On the NYMEX, November delivery futures for light sweet crude were traded at $89.57 per barrel, which was a 0.34% fall for the session. Earlier, it hit $89.69, which was a session high, and a session low of $89.54 per barrel.
On Monday, gold prices held steady during Asian trading session, as traders speculated that optimistic U.S. employment numbers did not mean improvements in the U.S. economy. On the NYMEX, December delivery futures for gold were traded at $1,741.15 per troy ounce, which was a 0.02% increase for the session.
Better-than-expected figures on U.S. labour market lifted European stocks on Friday. The Stoxx Europe 600 Index added 1% to close at 274.11; French CAC 40 Index jumped 1.6% to 3,457.04, while German DAX 30 Index rose 1.3% to 7,397.87.
U.S. stocks added to Friday gains as the unemployment rate in the world's biggest economy fell unexpectedly to 7.8% in September, down from 8.1% in the previous month. The Dow Jones Industrial Average surged 0.5%, to 13,636.54; the Standard & Poor 500 Index added 0.4%, to 1,467.78, while Nasdaq 100 futures jumped 0.3%, to 3,159.32.
German stocks surged on Friday, supported by hopes that the ECB will start buying bonds of troubled european nations. However, dismal data from German economy weighted down on equities. German factory orders dropped 1.3% on a seasonally adjusted basis in September compared to forecasts of a 0.5% decline last month. The DAX Index rose 0.63% to trade at 7,362.12. Seven
UK shares climbed on Friday ahead of the US payrolls data. Recent Mario Draghi comments that the ECB will buy bonds of the troubled eurozone members lent support to the UK equities. The FTSE 100 Index gained 0.46% to trade at 5,854.55. Six out of ten sectors within the index climbed. The top-performers were telecommunications and basic materials. Eurasian Natural
On Friday, the British Pound was steady versus the U.S. Dollar, as investors were cautious before a report on U.S. employment. The Sterling was flat versus the greenback and was fluctuating between a session low of $1.6174 and a session high of $1.6199, consolidating later at 1.6187 by 12.28 p.m. London time.
On Friday, U.S. stock futures held steady, as traders eyed an upcoming report on U.S. non-farm payrolls. S&P 500 futures expiring in December added about 0.1%, reaching 1,456.8 by 10:40 a.m. London time. The equity benchmark has added 1.4% since the beginning of this week. Dow Jones Industrial Average futures increased by 14 points and reached 13,512.
On Friday, U.S. treasuries held steady, as investors eyed an upcoming report on U.S. employment, which is widely expected to show an increase in jobless rate. The yield on benchmark 10-year notes declined 0.9 basis points, and reached 1.6630%, while the yield on 30-year bonds lost 1 basis point, reaching 2.88% by 10:18 a.m. in London.
On Friday, Asian stocks were traded higher, following Mario Draghi's comments on bond buying program, and an upcoming report on U.S. employment data. The MSCI Asia Pacific index increased by 0.4%, reaching a level of 122.84 by 6:19 p.m. Tokyo time. The index is likely to end the week, having a 0.3% weekly gain.
On Friday, European stocks were gaining, as investors' sentiment was buoyed by the upcoming report on U.S. employment data. The Stoxx 600 added 0.3% and reached a level of 272.20 by 10:12 a.m. London time. The index is likely to end this week with a 1.4% weekly gain, and rallied 16% from the year's low in June.
The U.S. jobless rate unexpectedly declined to 7.8% in September, the lowest level since Barack Obama became the U.S. President in January 2009, as employers hired more part-time workers. Economists projected the unemployment rate to increase from 8.1% to 8.2%. The U.S. economy added 114 000 employees last months following 142 000 gain in August, according to Labour Department figures. "The
On Friday, the 17-nation currency was traded close to a 2-week high versus the U.S. counterpart, as investors eyed the upcoming U.S. employment data. EUR/USD hit a session low 1.2994, and later consolidated at 1.3011, which was a 0.04% decline for the European morning trading session. The pair's support was likely to be found at 1.2910, whereas the resistance was prone to be at 1.3059.
Bundesministerium für Wirtschaft und Technologie reported on Friday that the number of factory orders in Germany decreased more than expected in September. German factory orders slipped by 1.3% in September from a preceding month's increase of 0.3%. Economists, however, expected that factory orders would fall only by 0.5%.
On Friday, futures for natural gas retreated from the lowest for the session, as bargain hunters were buying the commodity. On the NYMEX, November delivery futures hit $3.450 per MMBtu, a session high, and consolidated at $3.406, which was a 0.34% increase for the U.S. afternoon trading session.