Swiss shares were little changed, with the Swiss Market Index set for monthly advance, as UBS AG gained after reporting their profits. The SMI fell 0.1% to 7,803.97 as of 9:45 a.m. Zurich time; however, the gauge is set for 1.6% increase in July as the Fed stated it will remain its asset purchases pace unchanged. The Swiss Performance Index slid
Stocks in developing countries gained after the PBoC increased amount of money in the financial system through reverse-repurchase operations, easing investors' worries about credit squeeze. The MSCI Emerging Markets Index jumped 0.2% to 956.10 after previous 4 days of losses. The Shanghai Composite Index climbed 0.7%, while The Hang Seng China Enterprises Index rose 0.3%.
U.K. shares advanced for a second straight day as major companies posted their sales results, which topped the analysts' expectations, while the Fed's policy meeting where awaited by investors. The FTSE 100 gained 0.3% to 6,579.19 as of 8:47 a.m. London time, at the same time, it has climbed 5.9% in July as the Fed stated that they will remain
European stocks and U.S. S&P 500 futures erased gains, while Australian Dollar dropped most in a month as the RBA said it might lower interest rates. The Stoxx Europe 600 Index climbed as much as 0.1%, paring gains earlier after better-than-expected earnings data. S&P 500 Index future contracts were virtually unchanged. The Aussie dropped 1.5% against the U.S. Dollar.
The U.S. Dollar jumped from a 5-week low, while stocks rose after better-than-expected European economic and companies' earnings data. The FTSEurofirst 300 gauge appreciated 0.2%, while Germany's DAX, France's CAC 40 and Britain's FTSE rose 0.2-0.3%. The MSCI world equity index gained 0.2%, led by European stocks.
The British currency reached a two-week low versus the Euro ahead of the Bank of England, the Fed and the ECB statements that will brighten the outlook on their policies. The Pound traded at 86.56 pence per Euro by 9:30 a.m. in London after falling to 86.59, the lowest since July 17. The Sterling was little changed at $1.5329 after
German inflation most likely slowed down for the first month out of last three, indicating on small price increase in nation's economy. Europe largest economy's CPI rose 1.8% compared to previous year, while the prices probably dropped 0.1% from June. It is expected that Germany's inflation will reach 1.6% yearly and 1.5% next year, according to the Bundesbank.
German government bunds remained steady ahead of data that analysts said will indicate economic sentiment in the Euro area advanced in July,curbing the case for more monetary stimulus. German 10-year note yield remained unchanged at 1.66% and the price of the 1.5% security maturing in May 2023 was at 98.555.
European shares climbed after Electricite de France and Alcatel-Lucent released earnings that overshot expectations and the Federal Reserve started a two-day meeting. The Stoxx Europe 600 Index gained 0.2% to 299.65, adding to signs the index has jumped 5.1% this month. Alcatel-Lucent increased 8.8% to 1.74 euros and EDF inched up 3.9%.
Gold price remained unchanged ahead of the Federal Reserve meeting that will start on Tuesday; however, the statement of the meeting will be delivered on the Wednesday's second part of the day. Gold futures were little changed at $1,327.40 an ounce, while silver fell 0.38% to $19.790 an ounce. According to analysts, the investors have increased their long positions for
The Australian currency dropped as the Reserve Bank of Australian Governor Stevens said that the inflation level still allows lowering the interest rates. The Aussie slid 1.34% to $0.9081 versus the U.S. counterpart at 5:32 a.m. GMT and it reached the lowest level in two months after the RBA's Governor spoke. The Australian Dollar depreciated 1.39% to A$1.4607 versus the
Euro block's unemployment rate probably remained at a all-time high last month even after the economy recovered from the longest recession since the Euro currency was introduced. The unemployment rate remained flat at 12.2% previous month. The Euro area's economy is recovering on better-than-forecast manufacturing production in July and improved German business sentiment.
The Japanese currency declined, as disappointing industrial output report increased soft retail sales figures, emphasizing the performance of the Japan's economy under increased asset purchase programme. The Japan's Yen dropped 0.45% to ¥98.39 versus the greenback and fell 0.39% to ¥150.81 versus the Sterling, and decreased 0.36% to ¥130.38 versus the Euro.
Asian shares advanced, with the regional benchmark index set for its first increase in five days, after Japan's overseas sellers gained as the Yen declined, offsetting a bigger-than-expected fall in Japanese factory production. The MSCI Asia Pacific Index jumped 0.5% to 133.83. Japanese Topix index rallied 1.6% and the benchmark Nikkei 225 Stock Average rose 1.3%.
The Canadian currency touched the strongest level in one month as crude oil remained over $100 a barrel for the 18th day. The Canada's Dollar advanced 0.1% to C$1.0265 versus the greenback, adding to signs the currency has jumped 2.5% in July against the U.S. Dollar. Crude oil declined 0.2% to $104.52 a barrel.
U.S. stocks declined as a report showed that the number of contracts to acquire previously owned houses decreased 0.4% in June. This reaction signals that macroeconomic indicators currently are influencing markets significantly. The Standard and Poor's 500 lost 0.2% to 1,687.99 as of 10:04 a.m. New York time. The Dow Jones Industrial Average also declined 0.2% to 15,523.47.
Silver prices climbed on large physical demand from Asia. Malca-Amit Global opens a silver vault with a capacity of 200 metric in Singapore. The company says that the number of rich private investors are increasing rapidly in Asia Pacific region. Such investors typically hold silver reserves, while institutions prefer gold. Silver futures gained 0.47% to $19.865 as of 1:47 p.m.
The Canadian Dollar appreciated for a third consecutive day to almost a month-high as oil, Canada's biggest export, was still above 100 dollars a barrel for the 18th straight day. The Loonie advanced 0.1% to C$1.0272 against the greenback as of 8:01 a.m. Toronto time. Economists estimate that the nation's economy grew 0.3% in May from 0.1% the month before.
Treasuries traded flat on Monday before U.S. home sales data and as investors expect many economic news this week. The ten-year bond yield climbed to 2.569%, while yield on five-year note dropped less than basis point to 1.37%. Yield on 30-year note was seen slightly up to 3.626%. The Fed, ECB and BOE have meetings this week and U.S. unemployment
The greenback remained at the same level as Friday's closing price before the opening of New York trading week and before a release of FOMC statement. The statement most likely will show no changes in bond purchases. The greenback gained 0.06% to $1.3269 versus the Euro at 12 p.m., while against the British Pound it appreciated 0.08% to $1.5370. The
The yield spread between 10-year British bonds and German 10-year notes shrank to a one-month low after a report suggested that business lending and mortgage approvals declined in the U.K. In June. Ten-year gilt yield dropped two basis points to 2.32% as of 12:16 p.m. in London, while German equivalents remained almost the same at 13.67%.
U.S. stock-index futures fell, indicating on that the Standard & Poor's 500 Index will snap its biggest one-month advance in almost two years, ahead of nation's house sales data. The S&P's futures expiring in September slid 0.3% to 1,681.7 as of 6:06 a.m. New York time and the equity-benchmark decreased less than 0.1% previous week, paring its longest winning streak.
Indian equities fell for a fourth consecutive day after the chairman of State Bank of India, the nation's largest commercial bank, revealed that the Reserve Bank of India might rise cash reserve ratio and interest rates. The State Bank of India dropped to its 18-month low. The Standard & Poor's BSE Sensex gauge closed at 19,593.28, down 0.8%, in Mumbai.
The Japanese Yen strengthened 0.4% 97.83 per U.S. Dollar, a third consecutive day of gains. The Shanghai Composite Index decreased 1.7%, while the Stoxx Europe 600 Index and S&P 500 futures slid 0.4% and 0.2% respectively. The MSCI Emerging Markets Index slipped 0.6%, a fourth consecutive day of losses.