Base metals apart from nickel moved higher, being supported by broadly weaker US Dollar. Moreover, demand for riskier assets improved after upbeat China's trade numbers. A surge in exports of 14.1% year on year helped China's trade surplus to widen in December. However, weak US data capped industrial metals' gains.Aluminum was the top-performer amid weak US Dollar and encouraging Chinese
Precious metals rallied on Thursday as the US Dollar came under notable pressure after the ECB President Mario Draghi stated that the ECB decided to leave the interest rates unchanged. Weak US data also boosted the commodity group. Moreover, bright physical demand perspectives provided further support for precious metals.Gold advanced as the ECB decision to leave its monetary policy unchanged
The number of jobless claims in U.S. increased unexpectedly in the first week of January despite positive condition of the market in general, the Labor Department reported on Thursday. Unemployment insurance claims grew to a seasonally adjusted 371,000 from the previous week's 367,000, but the increase was caused mainly by reading distortion of winter holidays for the second week."Claims are
Policy makers of the U.K. central bank kept the official interest rate at its lowest level as the monetary easing program showed success accelerating the demand in the Q4. The Monetary Policy Committee led by Governor Mervyn King decided to remain the key interest rate at 0.5% with the possibility of another easing program. The ECB is keeping the benchmark
Rubber futures for July settlement were higher by 2.8% to 316.7 yen per kilogram or $3,597 per metric ton on the Tokyo Commodity Exchange during Asian trading session on Thursday. Rubber futures increased to the highest level in eight months, as the Yen slipped to more than two-year low and China announced better than expected exports data.
The Swedish consumer prices index slipped by 0.1% on annul basis in December, as Statistics Sweden announced on Thursday. The consumer prices index was lower for a second consecutive month, but the decrease rate was lower than a 0.2% fall as economists predicted. Monthly calculated price index was higher by 0.3% in December, following a 0.2% decrease in November. Core
The Rupiah, Indonesian currency, one month non-deliverable forwards slipped by 0.6% to 9.925 per Dollar in early Indonesian trading session on Thursday. The Rupiah's forwards depreciate for a sixth consecutive session ahead the central bank's meeting. Economists predict, that bank's governors will keep the key interest rate unchanged for an eleventh consecutive month.
China's overseas shipments increased by 14.1% comparing with the previous year, as customs administration announced on Thursday. That was the biggest gain since May, beating a 5% estimation in Bloomberg News survey. Another report indicated a 28% acceleration of broad measure credits. Both news help new nation's leaders sustain a recovery of economic growth, after a seven quarters slowdown.
The Hang Seng Index increased by 0.6% to 23,354.31 points in the end of Asian trading session on Thursday. The city's benchmark was very close to its highest point in 19 months, as China announced exports data, which beat the street's consensus by three times. Positive signals from the second biggest world's economy, boost investor sentiment and increase confidence for
The Ruble was lower by 0.2% versus the basket to 34.543 in the morning Moscow trading session on Wednesday. The Russian currency depreciated, as the Baank Rossii, the Central Bank of Russia, said that it will not buy or sell any foreign currency beyond 7 p.m. to influence its movement. In December the Central Bank of Russia have not tried
Drought damage in corn market exceeds government estimations and pushes the U.S. corn supply to the lowest level in 10 years. Inventories on the 1st December were 15% lower comparing with a year earlier, according to analysts estimation. Top banks announced forecast, that the price will increase at least 17% to more than $8 a bushel in 2013 due to
Spot gold price was higher by 0.2% to $1,660.85 an ounce in Asian trading hours on Thursday. Gold reverses previous losses, as China announced better than expected exports data, indicating a positive outlook for the second biggest world's economy and that demand for commodities will remains robust. Chinese exports increased by 14.1%, tripling a 5% economists' prediction.
The Shanghai Composite Index was higher by 0.4% to 2,283.66 points in the end of Asian trading session on Thursday. The index was lower by 0.3% at the lowest point in today's trading hours, but exports data beat economists' consensus and the market sharply appreciated. Positive data overshadowed concern that equities are overbought, as valuations are in a seven-month high.
The Euro Stoxx 50 Index futures, a benchmark for the Euro area, increased by 0.2% to 2,704 points in early London trading session on Thursday. Futures indicate that the main index Stoxx Europe 600 will gain for the second day, further climbing for the highest level since February, 2011, on Chinese exports data, which has beat the street's consensus. Today
Japanese stocks extended their gains for a second day on Chinese better-than-expected trade data and weakening Yen, as the Prime Minister Shinzo Abe pushed for higher inflation target. The Nikkei 225 advanced 0.7% to 10,652.64. All but two sectors in the index edged higher. The sectors that gained the most were basic materials, health care and consumer goods by adding
U.S. stocks gained, lifting the S&P 500 index up on rising optimism among investors about corporate earnings in the fourth quarter. The Dow Jones Industrial Average advanced 0.5%, or 61.66 points, to 13,390.51. Three out of nine groups in the gauge declined. Alcoa Inc. shares posted second biggest losses by losing 0.2% to $9.08, even though the company reported better-than-forecast
U.S. stocks rallied on Wednesday, sending up the Standard & Poor's 500 index, as optimism among investors rose over the fourth-quarter corporate profits. The S&P 500 index advanced 0.3% to 1,461.02. Six out of ten groups in the benchmark index increased. Seagate Technology surged 6.6% after better-than-forecast revenue data, leading gains in the technology sector that was only 0.07% up.
Rural commodities were mixed ahead of the closely-watched USDA report on global supply estimates due on Friday. Meanwhile, investors continued to monitor weather conditions in South America.Wheat sagged 0.67%, falling for the second session in a row after France lifted its inventory forecast by 17% from last month's estimate. Corn was the top-performer on speculation that US stocks may have
Energy futures apart from heating oil ended Wednesday's session in the red territory as investors shunned riskier assets ahead of the ECB press conference and US debt ceiling talks. Weak industrial production numbers from Germany and solid greenback also weighed. Crude oil edged lower after the EIA reported that US crude oil inventories rose by 1.31 million barrels last week
Industrial metals were mixed on Wednesday as risk appetite weakened ahead of the ECB press conference due on Thursday. Concerns over the US debt limit dispute also weighed on the market sentiment. Adding to losses of base metals, German industrial production increased by 0.2% in November versus a forecast of a 1.1% jump.Aluminum extended previous gains on hopes for robust
Precious metals were mixed on Wednesday amid appreciating US Dollar and increased caution ahead of the ECB press conference due on Thursday. Moreover, looming debates over the US debt ceiling continued to dampen market sentiment. However, expectations for stronger physical demand for precious metals were supportive for the commodity group.Gold eased as US Dollar strength created heavy pressure on the
Oil advanced for the first time in 3 days as China posted positive export data, which surpassed economists' expectations, signalling economic growth in the world's second biggest crude consumer. Crude for February settlement rose 43 cents to $93.53 a barrel and traded at $93.47 as of 12:55 in Singapore. Brent for February delivery gained 18 cents or 0.2% to $111.94
Asian stocks rose, with the regional benchmark index set for the highest close since August 2011, as Chinese export data overshot economists' expectations and Japanese carmaker benefited from a weaker yen. The MSCI Asia Pacific Index advanced 0.9% to 132.25. The Nikkei 225 Stock Average rose 0.9%, climbing for a second consecutive day and South Korea's Kospi Index added 0.6%.
The New Zealand Dollar rose to four-year high against the Japanese Yen as optimism U.S. corporate earnings will increase for a third successive year boosted global stocks. The kiwi touched 73.94 yen, the strongest level since September 22, 2008, before fetching 73.85, up 0.1% from the yesterday's close in New York. New Zealand's currency traded at 83.95 U.S. cents following