On Friday, the U.S. Dollar was lower versus the Japanese Yen, as traders' sentiment improved on reports of Spanish bailout. USD/JPY hit a daily low of 78.13, and subsequently consolidated at 78.15, which was a 0.10% fall for the European afternoon trading session. The pair's support was likely to be at 78.02, while the resistance could be at 78.37.
On Friday, the 17-nation currency was higher versus the U.S. Dollar. The Euro appreciated by 0.5% at 9:45 a.m. in London and was traded at USD1.3030. Earlier in the day, the Euro hit a session high of USD1.3047. The pair's support was likely to be at 1.2920, while the resistance was prone to be at 1.3172.
On Friday, prices for gold were higher, following forecasts of analysts from Bank of America and Deutsche Bank AG that the commodity will hit a record high by the next year. Futures for gold were traded at $1,776.200 per once at 05:30 a.m. London time, which was a $6.00 or 0.34% increase for the trading session.
Office for National Statistics reported on Friday that the net borrowing of public sector increased to 14.41 billion Pounds in August, compared to the reading of 14.37 billion Pounds in the preceding month. The figure is the highest since 1993, when the records began, but lower than the analysts' forecast of 15 billion British Pounds.
German 10-year Bunds slid, trimming almost a month-high weekly gain, amid a report saying EU policy makers are announce a financial bailout plan for Spain next week. The 10-year yield's surged three basis points to 1.61%, after falling 10 basis points this week, the strongest drop since Aug.24. The 1.5% note maturing in September 2022 lost 0.27 to 99.055.
Treasuries declined for the first time in five days amid belief EU authorities will create a financial rescue plan for Spain next week, decreasing demand for the safest assets. On Friday the 10-year yield surged 0.02 percentage points to 1.78%. The 1.625% bond maturing in August 2022 slipped 5/32 to 98 19/32.
UK's real estate prices sentiment remained weak, with households saying prices tumbled for the twenty-seventh straight month in September, however at a lower pace, Markit Economics reported on Friday. The property price sentiment was at 46.8 in September, from 44.5 in the preceding month, posting the slowest price decline since July 2010.
On Thursday, the Conference Board held leading index for Australia's economy unchanged at 124.9 in July, after two consecutive climbs. The indicator pointed to a slight near-term increase in economic activity. It posted a 0.5% rise in June and May. In July, the advances in stock prices and money supply were outweighed by losses in rural goods' exports, building approvals
European stocks advanced on Friday after the Financial Times posted a report saying that EU authorities are developing a new rescue program for Spain. The Stoxx Europe 600 surged 0.5% to 275.95, with gains in bank and energy sectors. The DAX 30 Index added 0.4% to 7,416.71. The CAC 40 Index climbed 0.7% to 3,532.55, while the FTSE 100 Index
Farm commodities, excluding sugar, moved lower on Thursday, being pressured by broadly stronger US Dollar and escalated concerns that slowdown in China will cut global demand for agriculture. Wheat edged down on signs that slowdown in global economy is likely to weight down on demand for grains. Corn slumped on demand concerns. Limiting the downswing, Brazil, the third largest global producer,
Asia stocks inched higher on Friday amid the launch of the newest iPhone supporting the telecom sector in the end of a rough week. The Hang Seng Index added 0.9% and the Shanghai Composite Index surged 0.3%. The Nikkei Stock Average advanced 0.3%, while the Kospi gained 0.5% and Australia's S&P 200 Index climbed 0.4%.
Energy commodities rebounded on Thursday as market players started to book profits after sharp fall over two previous sessions. The commodity group also found support on news that fire damaged El Palito refinery located in Venezuela. Adding to gains of energy prices, investors continued to monitor persistent tensions in the Middle East. Crude oil was slightly higher despite larger-than-expected increase
Australian currency gained against major counterparts amid expectations the U.S. Fed will boost growth and Eurozone is progressing in resolving its debt crisis, fueling traders' interest for higher-yielding assets. The Aussie surged 0.3% to $1.0465. It purchased 81.80 Yen, 0.2% up from yesterday's close. New Zealand's Dollar rose 0.1% to 82.96 U.S. cents.
Industrial metals apart from nickel tumbled on Thursday on weak manufacturing PMI data from the US and Europe. The US and Europe reported that PMI numbers were slightly higher this month but remained below 50, level that separates contraction from expansion. Broadly stronger US Dollar also weighted down on the commodity group. Aluminum retreated on weak fundamentals. Slight increase in PMI
Oil futures advanced on Friday, with most commodities gaining amid declining U.S. Dollar. October-delivery crude surged 0.7% to $93.04 per barrel in New York, the rise cut oil's weekly fall to below 6%. October-delivery heating oil rose 0.4% to $3.10 per gallon, while natural gas for the same month added 0.7% to $2.82 per million Btu. The ICE Dollar Index
Precious metals except for silver dropped on Thursday despite weak US labour market data and softer manufacturing figures from Eurozone. Broadly stronger US Dollar coupled with weaker global equities created pressure on the commodity group. Gold extended previous losses amid solid greenback and fading boost from stimulus measures in the US and Japan. Silver was the only gainer on mixed data
Wall Street fell modestly on Thursday after economic reports from the U.S., China and the Eurozone proved that global economy is cooling. The Dow Jones Industrial Average fell 0.2% to 13,554.88 points; the Standard & Poor 500 Index dropped 0.3%, to 1,456.09, while Nasdaq Composite Index lost 0.4%, to reach 3,170.81.
European stocks turned lower on Thursday, September 20, as financial data from China, USA and Europe added concerns about the global economy. The Stoxx Europe 600 Index erased 0.4% to 273.88, French CAC 40 Index dropped 0.9% to 3,501.33, Germany's DAX 30 Index lost 0.5% to 7,354.64, and the U.K.'s FTSE 100 Index inched lower 0.7% to 5,845.60.
Brazil's jobless rate fell for the second consecutive month in August, while salaries grew, the Brazilian Institute of Geography and Statistics reported Thursday. Unemployment rate fell to 5.3% in August, compared with 5.8% in July, while analysts predicted Brazilian jobless rate to decline to 5.6% last month.
German stocks drop on Thursday despite upbeat data from the national manufacturing sector. Flesh German PMI contracted the least in the last six months in September. German PMI climbed to seasonally adjusted 47.3 this month compared to 44.7 last month. Positive data from US labour market also supported the index. The DAX Index lost 0.43% to trade at 7,350.65. Four
UK shares declined on Thursday on weak data from China. HSBC China PMI edged up in September but remained below 50.0 level that separates contraction from expansion. Raising global growth worries, Japanese trade balance dropped more than expected last month. However, Spain's borrowing costs slid at the auction of 10-year sovereign bonds, boosting market sentiment. The FTSE 100 Index retreated
Chinese equities plunged on Thursday as boost from Japan's easing measures appeared to be short-lived. The HSBC China PMI inched up to 47.8 in September from 47.6 in August; however, slightly better data still suggests contraction of the China's manufacturing activity. Poor performance of Japanese equities also added pressure on Chinese stocks. The Hang Seng Index sank 1.20% to close
Japanese shares moved sharply lower after previous rally on fresh BoJ stimulus measures. Slight improvement in flesh China's PMI failed to return confidence about China's economic state. Adding to the negative mood of the Japan's equity index, national imports and exports slid more than expected last month, raising global growth concerns. Japanese export tumbled by annualized 5.8% while imports fell
US stocks moved higher on Wednesday on encouraging data from the US real estate market. Existing home sales soared to two-year high last month while construction of single-family houses attained the fastest pace in more than two years. US equities were also supported by BoJ announcement of additional stimulus measures to boost economy. The S&P 500 Index gained 0.12% to