Yield on 10-year Italian bonds rose for a fifth consecutive day after an auction of EUR 8.5 billion 6-month government securities. This is the longest streak of declines since September 26. The yield jumped 3 basis points to 4.43% so far today. The yield on similar maturity German bunds were virtually unchanged and traded at 1.67% after an increase of
U.K. shares advanced for the first time in the last three days, with the benchmark FTSE 100 Index bouncing off from its first one-week retreat monthly. The FTSE 100 gained 0.4% to 6,579.45 as of 10:09 a.m. London time; however, the equity-benchmark declined 1.1% previous week, snapping gains for four straight weeks. The FTSE All-Share Index added 0.3% today, while
Chinese authorities will start an audit of country's debt as a part of investigation of threats to financial system and growth in the country. Stocks dropped as the nationwide audit indicated dangers to the economy stemming from local governments' borrowing. Shanghai Composite Index slid 1.7% so far today.
Gold fell after advancing for three straight days as the investors are waiting for the Fed's meeting in few days and it is expected that the officials will give some guidance on monetary stimulus tapering. Spot gold dropped 0.7% to 1,323.96 an ounce at 7:03 GMT, after rising 9% over the past three weeks. The yellow metal price has retreated
Yield on 10-year British government bonds dropped for a third consecutive day after mortgage approvals fell short of expectations as lenders granted 57,667 loans, while experts predicted 59,700. The yield decreased 2 basis points to 2.32% so far today. The gilts lost 2.9% of its value in 2013 through July 26. The Pound appreciated 0.1% to $1.5404, while it traded
Italy's business sentiment advanced in July well ahead of economists expectations. The business sentiment index increased form 90.5 last month to 91.7 this month, overshooting economists expectations of 91. Italian retailer sentiment also increased from 80.9 in June to 82.1 in July, adding to signs it boosted the comosite economic confidence index higher to 79.6 this month.
German bunds remained flat as Italy, Belgium and France will auction 19.4 billion euros of government bonds today. German 10-year bond yield remained steady at 1.65%, after jumping 15 basis points previous week, adding to signs German bunds declined 1.3% this year. The price of the 1.5% note maturing in May 2023 was 98.515.
European shares rose for the first time in the last three days as some major companies posted their results. The Stoxx Europe 600 Index gained 0.4% to 299.98 as of 8:15 a.m. London time; however, the equity-benchmark retreated 0.3% previous week as some companies' results missed the expectations.The index has advanced 5.2% in July after the Fed's remarks.
The common currency dropped against the U.S. Dollar, as investors await policy meetings from the Federal Reserve, European Central Bank and Bank of England, and Monday's home sales data. The 17-nation currency dropped 0.06% to $1.3269 versus the U.S. Dollar and remained steady at 0.8627 versus the Sterling.
The New Zealand currency retreated after nation's Prime Minister John Key stated that the Kiwi is still overvalued and the officials would appreciate a decline in the currency. The New Zealand Dollar fell 0.2% to 80.71 U.S. cents at 5:13 p.m. Sydney time, snapping its 4.3% climb monthly. The Aussie slipped 0.1% to 92.46 U.S. cents after strengthening 2.3% through
Asian shares declined, with the regional benchmark index set for the fourth day of losses, as the Japanese Yen appreciated and lenders dropped. The MSCI Asia Pacific Index retreated 1.6% to 133.33. Japanese Topix and the benchmark Nikkei 225 Stock Average contracted 3.3%, the biggest falls since June 13.
The Japanese currency rose versus its most-traded peers as Asian stocks fell on worries about growth slowdown in the biggest economy's, spurring the haven asset demand. The Japanese Yen reached 97.64 per Dollar, the highest level in a month, while it climbed 0.4% to 129.92 per Euro, after touching 129.77 earlier. The U.S. Dollar traded at $1.3277 per Euro from
Many U.S. equities declined as session progressed after some companies published disappointing earnings data. Investors are reluctant to take risk before the Federal reserve meeting next week. The Standard & Poor's 500 gauge lost 0.67% as of 1,678.85 at 11:24 p.m. EDT. The Dow eased by 0.79% to 15,432.35, while the Nasdaq Composite dropped 0.41% to 3,590.24.
U.S. Consumer sentiment gauge advanced in July to the highest level since 2007 as economic conditions have improved. The gauge increased form 84.1 in June to 85.1 in July, beating estimate of 84. Survey showed that Americans expect slower growth next year. Low income earners were more positive about future economic prospects than more affluent households.
U.S. equity benchmarks opened lower today as investors look forward to seeing a report on consumer confidence. Several company earnings data will also be published, including Tyco and Weyehaeusern. The Standard & Poor's 500 gauge fell 0.35% to 1,684.21 at 9:31 a.m. EDT. The Nasdaq Composite lost 0.51% to 3,586.94. The sentiment index is projected to climb from 83.9 to
Indian Rupee rises and finishes third weekly advance as the Reserve Bank of India contracted the cash supply to arrest a decline in the currency. The bank set higher interest rates and lender's cash-ration requirement from 70% to 99%. The currency appreciated 0.5% this week, while it added 0.1% to 58.7025 per U.S. Dollar today.
The Japanese Yen rose against the U.S. Dollar after the data showed that inflation in Japan increased the most since 2008, indicating that the central bank might not need additional stimulus to fight deflation. The currency jumped 0.7% to 98.60 per U.S. Dollar so far today after rising 1% yesterday. The Yen climbed 0.7% against the Euro as well to
The Japanese Yen appreciated as a 0.4% increase in consumer prices, the largest jump since 2008, signaled that Japan may stop stimulus. Additional factor for strengthening currency was China's effort to cut production capacity. The Yen advanced 0.6% to 131.03 versus the Euro. Against the greenback, it was also seen up 0.6% to 98.68 as of 10:48 a.m. London time.
WTI had its first weekly decline in a month on growing crude supply in the U.S. and amid speculation of declining demand as China cuts excess production capacity. Settlement for September decreased 0.8% to $104.61, reaching weekly drop of 3.1%. In order to ensure more sustainable economic growth, China ordered 1.4 thousand companies to cut excess capacity.
The Swiss Franc rose to the highest level in 5 weeks against the U.S. Dollar as investors sought safer investments after a drop in Asian stocks. The currency traded at 92.82 centimes after rising 0.3% to 92.70 centimes earlier today, which was the highest point since June 21. The Franc was virtually unchanged against the Euro and traded at 1.2336
Gold dropped as investors speculated that higher prices will decrease the demand from jewelers. It is expected that if the level of $1,300 does not hold, the prices might quickly sink to $1,265-70 support area. The commodity fell 0.4% to $1,329.31 so far today, while gold futures dropped 0.1% to $1,328.40. Platinum decreased 1.1% to $1,433.61.
The British currency is set for a third straight weekly climb versus the greenback ahead of the next week's U.K. Mortgage data that are forecasted to increase to the highest level since 2008. The Sterling was at $1.5386 by 8:55 a.m. in London and it is headed for a 0.8% climb weekly. The British Pound traded at 86.35 pence per
Italy's 10-year government securities fell for a fourth consecutive day before an auction EUR 3 billion zero-coupon notes, maturing in 2015. Yield rose 3 basis points to 4.43% so far today after it reached 4.44% earlier, the highest point since July 18. Yield on similar-maturity German government bonds declined 2 basis points, while yield on Spanish bonds climbed 1 basis
European stocks rallied and were poised to reach the longest period of weekly gains in 2013 after better-than-expected sales growth data from companies. The Stoxx Europe 600 Index climbed 0.3% to 300.48 after rising 0.7% earlier today. The gauge has appreciated 0.2% so far this week, heading towards fifth week of consecutive gains.