German bonds surged on Wednesday ahead of a report expected to show a 39-month low output in euro area's services and manufacturing industry. The 10-year yield lost 2 basis points to 1.43%, while the 1.5% note maturing in September 2022 added 0.195 to 100.59. The 2-year yield was little changed at 0.04%.
Oil tumbled for a second day on Wednesday as U.S. crude inventories jumped for the fourth consecutive week and China consumer sentiment slipped. November-delivery oil lost 46 cents to $91.43 per barrel in New York and traded at $91.44. Same month Brent oil declined 0.06% to $110.90 per barrel in London.
China's consumer sentiment declined for the third consecutive month in September, reaching the weakest level since December, Deutsche Boerse's MNI showed on Wednesday. The index came out at 89.3 from 90.4 in August. Future income expectations surged to 88.2 from 87.9 in the previous month. Housing market confidence fell back after improvement in August, while the stock market sentiment rose
The Australian Dollar dropped to almost 1-month low following the government report on the nation's trade deficit, which was the widest since 2008. The Aussie Dollar traded at $1.0211, the weakest level since September. Australia's Dollar also traded close to a 1-year low versus the New Zealand Dollar. The currency fetched NZ$1.2432, after touching NZ$1.2372, the lowest level since September
The annual inflation rate in developed countries climbed for the first time in a year in August, with the main reason being a sharp increase in energy prices. Figures released by the OECD indicated that consumer prices in 34 member states rose by 2% in 12 months to August. The inflation rate also surged in some large developing countries, such
Farm commodities apart from wheat moved higher on Tuesday amid broadly lower US Dollar. However, speculation that improved weather conditions in the top-growing regions are likely to boost global supplies created pressure on agriculture. Wheat slumped for the sixth session as demand for US supplies in slowing. USDA expected US wheat exports to total 344.7 million bushels between June 1 and
U.K. service sector output advanced at a weaker-than expected rate in September, as economy posted the first net decline in employment in last ten months, Markit Economics said on Wednesday. The seasonalized Services Purchasing Managers Index dropped 1.5 points to 52.2, compared to 53.7 in August. Analysts had forecast a reading of 53.1."With no Bank Holidays until Christmas and the
According to official data of the Australian Bureau of Statistics, trade deficit in Australia widened in August, with the balance on services and goods at deficit of $2.027 billion, compared with July's figure of $1.53 billion. It is the biggest trade deficit since March 2008 and the country's 8 consecutive deficit. During August, exports declined 3%, whereas imports fell 1%.
Energy commodities, excluding natural gas, dropped on Tuesday amid renewed eurozone woes. Market participants were confused as Spain may delay applying for the next bailout. However, broadly weaker US Dollar as well as slightly improved manufacturing activity limited the downswing. Crude oil shed 0.64% ahead of the weekly EIA report on US inventories due on Wednesday. US stockpiles are expected to
Asian stocks declined after China's non-manufacturing sector expanded at the slowest pace since March 2011 and Spain's PM said bailout request is not unavoidable. The MSCI Asia Pacific Index fell 0.4% to 121.58. Japan's Nikkei 225 Stock Average slipped 0.5% and Taiwan's Taiex slid 0.5%. Australia's S&P ASX 200 Index climbed 0.1%.
Base metals except for copper erased previous gains on Tuesday on signs that Spain may delay a request for the next bailout. Weaker global equities coupled with higher risk-aversion among investors also created heavy selling pressure on industrial metals. Aluminum dropped despite slight decline in the LME inventories and positive manufacturing data releases. Copper was the only gainer, approaching seven-day
The Euro traded 0.8% from a 3-week low amid signs of economic slowdown and built up pressure on central bank officials to consider fresh measures at a meeting this week. The 17-nation currency fell 0.2% to $1.2901, after touching $1.2804 on 1 October, the weakest level since 11 September. The Euro was at 100.88 yen down from 100.97.
Precious metals apart from palladium dropped on fading support from inflation concerns amid global stimulus measures. At the same time, broadly weaker US Dollar created an upward pressure on the commodity group Gold retreated from 11-month high on rising uncertainty over Spain's bailout. On Tuesday, Spanish news agencies reported that Spain's PM told his political party that the country will probably
China's non-manufacturing purchasing manager index fell 2.6 percentage points to 53.7% in September, according to the official data on Wednesday. PMI reading above 50% indicates an expansion from a month earlier, whereas reading below 50% signals a contraction.
Output at Brazil's mines and factories rose less than expected last month, the Instituto Brasiliero de Geografia e Estatistica said Tuesday. Brazilian Industrial Production advanced to -2.0%, up from -2.7% in the previous month. Analysts had predicted nation's industrial production to jump to -1.5% in September.
South Korean consumer price inflation quickened in September but was still well below the central bank's target, the Korea National Statistical Office reported Tuesday. Nation's CPI annual inflation rate picked up to 2.0%in September, up from a 12-year low of 1.2% in the previous month.
Wall Street edged higher on Tuesday after a report that Spain soon will request a sovereign bailout from the eurozone and the market sentiment remained supported by yesterday's better-than-expected U.S. manufacturing data. The Dow Jones Industrial Average rose 0.3%, to 13,556; the Standard & Poor 500 Index gained 0.5%, to 1,451.07, while Nasdaq-100 futures jumped 0.6%, to 3,130.7.
German equities jumped on Tuesday, drawing strength from hopes that Spain will soon apply for the bailout. Positive data from the US coupled with strong US equities also supported the stock index ahead of German bank holiday due on Wednesday. The DAX Index gained 0.50% and is currently trading at 7,334.03. Six out of nine sectors included in the index
UK equities are trading higher on Tuesday after Spanish borrowing costs dropped amid rising hopes that the country sill soon apply for a new bailout. Yields on Spain's 10-year bonds lost 15 bsp to 5.73%. Lifting the UK shares further, the country's construction PMI added 0.5 points to 49.5 last month. A reading below 50 indicates contraction. The FTSE 100
Brazilian stocks ended Monday's session on the positive note amid optimism over Spanish bailout and encouraging news from the US manufacturing sector. Positive data from national economy also boosted market sentiment. Brazilian manufacturing activity index moved close to 50 level that separates contraction form expansion. Five out of nine sectors included in the index advanced. The top-gainers were basic materials
Japanese equities retreated on Tuesday amid fears that corporate profits will be worse than expected as companies are slashing income forecasts. However, shares found support on optimism over eurozone and US. US ISM manufacturing PMI rose more than expected while Ben Bernanke promised to sustain stimulus. The Nikkei 225 Index slid 0.12% to end Tuesday's session at 8,786.05. A half
US blue chips climbed on Monday amid positive manufacturing activity data from the national economy. The Institute of Supply Management reported that its manufacturing PMI climbed to 51.5 in August compared to 49.7 in the preceding month. A reading above 50 indicates expansion of the manufacturing sector. Rising optimism over Spanish bailout also contributed to the US blue chips' rally.
US stocks traded higher on Monday on encouraging manufacturing activity data. Positive news from Spain also boosted US equities. The S&P 500 Index rose 0.27% to end the session at 1,444.49. Seven out of ten sectors included in the index climbed. The top-gainers were health care and consumer goods, adding 0.60% and 0.56%. Aetna, AmerisourceBergen and Cardinal Health advanced 0.53%,
European stocks advanced on Tuesday, amid reports that Spain is moving closer to asking for a full bailout. The Stoxx Europe 600 Index added 0.2% to 272.84; French CAC 40 Index jumped 0.25% to 3,442.99, while German DAX 30 Index added 0.4% to 7,354.59. At the same time, investors are waiting for the outcome of Moody's review of Spain's credit rating, which could be cut