Asian shares outside Japan declined, with a equity-benchmark set for the lowest close in almost 10 months, on worries the Fed will scale back the bond-buying programme and China's economic crunch. The MSCI Asia Pacific Excluding Japan Index fell 0.6% to 421.05 at 3:23 p.m. Tokyo time, reversing losses of 1.4%, while China's Shanghai Composite Index slid 0.1%.
Japan's shares climbed after overseas sellers recovered as the Japanese Yen depreciated. Stocks plummeted earlier after regional gauges declined following Ben Bernanke's comments on reducing purchases. The Topix index advanced 0.7% to 1,099.40, after declining 2.9%. The gauge jumped 4.1% this week and the Nikkei 225 Stock Average inched up 1.7% to 13,230.13.
The British currency was little changed versus the greenback and the 17-nation currency ahead of a report that will show a fall in Britain's budget deficit in May compared to last year, according to economists. The Sterling was at $1.5515 as of 7:29 a.m. in London after touching $1.5415 on Thursday, the weakest since June 6, while the currency traded
The U.S. Dollar headed towards a weekly rise against all its major counterparts ahead of U.S. report due next week on home prices and durable-goods orders that could signal that the Federal Reserve may taper its stimulus. The U.S. currency appreciated 0.5% to 97.80 versus the Yen. The Euro block's currency gained 0.1% to $1.3236.
Copper declined to the lowest level in seven weeks as industrial metals plummeted after the Federal Reserve Chairman Ben Bernanke said that the Fed may start to slow down stimulus. Copper for three month settlement retreated 1% to $6,888.25 per metric ton, and today was at $6,902. The September metal contracts fell 0.9% to $3.1225 a Pound.
Gold retreated under $1,300 per ounce to a 2 1/2 year low, prolonging April's decline into the bear market, as the Federal Reserve Chairman Ben Bernanke said bond purchases may be eased later this year as the U.S. economy is showing more signs of improvement. The August Bullion contracts dropped 6.5% to $1,285, the lowest in over two and a
The South Korean currency plummeted to the weakest level in 11 months and the five-year government security yield climbed to the highest level since July 2012 as the Federal Reserve announced it may start to slow its bond purchases soon. The South Korean Won declined 1.3% to 1,145.63 against the U.S. Dollar.
Shares in Switzerland declined the most in seven days after the Fed's Bernanke stated that the U.S. policy makers could start tapering the bond-buying programme at the end of this year if the U.S. economy grows. The Swiss Market Index slipped 1.5% to 7,615.48 as of 10:17 a.m. Zurich time; moreover, the equity benchmark is headed for its fifth one-week
China's shares declined to 6-month low after money-market rates jumped to a record high and the country's manufacturing dropped faster than in the previous months, according to a private report. The Shanghai Composite Index slipped 2.8% to 2,084.02 at the close and the CSI 300 Index slid 3.3% to 2,321.47, while the Hang Seng China Enterprises Index fell 3.2%.
Treasuries dropped for the fourth day, with the 10-year bond yield jumping to the highest level in 15 months, after the Federal Reserve Chairman Ben Bernanke said that officials could end asset purchases in 2014. The yield on the benchmark 10-year bonds advanced to 2.37%. The price of 1.75% bond maturing in May 2023 declined and was at 94 19/32.
U.K. government gilts declined, with the 10-year bond yield jumping the most since April 2012, as the Federal Reserve said it may end bond-buying programme in the middle of 2014. The yield on 10-year U.K. bonds advanced to 2.26% and two-year rates advanced nine basis points and were at 0.53%
Canada's shares declined, after climbing for two days in a row, as the Federal Reserve announced that it could slow the pace of asset purchases in this year as U.S. economy shows more signs of growth. The S&P/TSX retreated 0.8% to 12,268.29, adding to signs the index has jumped 1.5% in the last two trading sessions.
European shares declined after the Fed's Chairman Bernanke said that the central bank could end stimulus next year if the economy will continue to grow. The Stoxx Europe 600 Index dropped 1.5% to 287.86 as of 8:05 a.m. London time, the biggest retreat in a week; moreover, the equity benchmark has fallen 7.3% since May 22, when was the previous
Australian currency declined to the weakest level in three years against the U.S. Dollar as manufacturing dropped unexpectedly in China. The Aussie plummeted 0.5% to 92.53 against the greenback, after it fell 2% yesterday. Chinese manufacturing Purchasing Managers' Index decreased from 49.2 in May to 48.3 in June.
The British Pound fell for a third straight day against the greenback after the Fed's Bernanke stated that U.S. officials could stop the monetary stimulus at the end of the next year. The Sterling depreciated 0.3% to $1.5433 as of 7:46 a.m. in London after slipping to $1.5427, the weakest since June 6. The British currency was at 85.61 pence
Asian shares declined the most in almost 24 months on worries the Fed could scale back the monetary stimulus programme if the U.S. economy will continue to improve. The MSCI Asia Pacific Index fell 3.6% to 128.29 at 3:28 p.m. Tokyo time and is set for the biggest retreat since September 2011, while Japan's Topix index slid 1.3% and Nikkei
The U.S. Dollar advanced to the strongest level in over a week versus the Japanese Yen ahead of U.S. housing and manufacturing report that may signal that the Federal Reserve may scale back its stimulus. The greenback jumped 0.7% to 97.08 against the Japan's Yen and appreciated 0.4% to $1.3248 versus the 17-nation currency.
The Canadian currency slipped as its U.S. counterpart appreciated against most of the major currencies after the Fed's Bernanke said that officials could start tapering the bond-buying programme at the end of this year. The Canadian Dollar depreciated 0.6% to C$1.0273 per U.S. Dollar as of 5 p.m. Toronto time after advancing 0.4%; moreover, it reached C$1.0287, the lowest level
The U.S. Dollar loses 0.4% of its value against the Yen as investors await the decision by the Fed on its stimulus. The economic data releases in the U.S. gives a mixed picture of the condition of the economy, which might lead the Fed to not change its ultra-loose monetary policy. Investors, however, expect to get a hint on the
The Japanese Yen appreciated against the U.S. Dollar for the first time in three days. The currency increased against majority of its major peers and rose 0.2% to 95.12 per greenback, while oil price jumped 0.4% to USD 98.82 a barrel. The Topix index rose 1.9% following a surge in Japanese export in May, while MSCI Emerging Markets Index decreased
Shares in Switzerland fell, erasing earlier gains, ahead of the Fed policy meeting. The SMI slipped 0.3% to 7,674.84 as of 9:36 a.m. Zurich time, erasing an advance of 0.4%; moreover, the equity benchmark has dropped 8.7% since May 22, when the Fed's Bernanke announced that they could start to taper stimulus if the economy grows. The Swiss Performance Index
As investor are waiting for the decision of the Fed on the end of its monetary stimulus, the U.K. stock prices are barely changed, with the FTSE 100 Index rising less than 0.1% to 6,376.47. The gauge is still 6.8% below its value on May 22 when Bernanke said that the Fed might unwind its QE earlier. The FTSE All-Share
Norges bank will most likely leave interest rates unchanged as the country's inflation has fallen closer to its goal. According to economists, Norway's central bank will remain its overnight deposit rate at 1.5% in tomorrow's meeting. The Norwegian Krone has fallen 4.9% this year to date against the Eurozone's currency after the central bank stated in March that rates might
The British Pound dropped against its major peers after BoE minutes showed that 6 out of 9 officials supported the continuation of its GBP 375 billion monetary stimulus. The sterling depreciated 0.2% against the Euro and the U.S. Dollar. The yields on 10-year government bonds dropped 2 basis point to 2.12 after increasing 8 basis points in the last two