Wheat increased by the most in almost 2 weeks on Wednesday amid signs that demand for U.S. supplies from overseas increased, while corn advanced as Chinese purchases rose and soybeans gained. Wheat for July settlement added 1.5% to $6.9075 a bushel by 10:06 a.m. on the CBOT, whereas corn July futures gained 2.3% to $6.5075 a bushel and Soybeans for
Coffee futures decreased to the weakest level in more than three years on Wednesday amid speculations that world supplies may exceed demand as inventories in Brazil, the world's largest exporter, advanced by 80%. Arabica coffee for delivery in July dropped 2% to $1.3005 a pound by 11:43 a.m. on the New York's ICE after it touched $1.2985 earlier on the
The U.S. Dollar appreciated versus the majority of its counterparts on Wednesday after the Federal Reserve Chairman Ben Bernanke told Congress that the central bank will scale back its stimulus program if the economy shows favourable results. The so-called Greenback added 0.4% to $1.2855 per Euro as of 2:06 p.m. New York time after dropping to $1.2998, the fewest since
U.S. existing home sales increased modestly in April, a report released by the National Association of Realtors unveiled on Wednesday. According to the report, existing home sales in the country advanced by 0.6% to 4.97 million in April following a March's level of 4.94 million, while economists had projected home sales to climb to 5.0 million.
The Vietnamese central bank's Deputy Governor said that it is unlikely that the rates will be cut again this year, despite slowing economic activity in the country. He cited possibility of increased inflation as his motivation not to act; however, Vietnam affirms its plan to cut interest rates by 2% each year. After the last cut on May 13, the
South Korean short-term foreign debt decreased to the lowest figure since the Q4 of 2006 largely due to weaker Korean Won and curbed credit lean demand from exporters, a data unveiled by the Bank of Korea revealed on Wednesday. Short-term foreign debt dropped by $4.5 billion to a level of $122.2 billion in the first three months of 2013, while
Corn traded in Chicago dropped for the third successive day on Wednesday amid boosted optimism that record production will be reached spurring global supplies as U.S. farmers planted 43% of this year's intended area in a single week. Corn for July settlement fell 0.4% to $6.3775 a bushel on the CBOT and was traded at $6.385 at 2:09 p.m. Singapore
Current account balance in the Eurozone came in surplus in March largely due to a surplus recorded in trade balance as goods trade rose from 11.5 billion euros in February to 21.8 billion euros in the following month, the ECB reported on Wednesday. The report showed the current account surplus totalled 25.9 billion euros in March, up from 14.6 billion
Australian consumer confidence in May dropped notably to the weakest level since August 2012 mainly due to negative responses to the Federal Budget, the Westpac and Melbourne Institute showed in a report on Wednesday. The consumer sentiment index dropped 7% in May from 104.9 recorded in April to 97.6, the least since last August.
Natural gas futures traded in New York increased for the third straight day on Wednesday as demand from power plants was boosted by weather forecast showing higher-than-normal temperatures for the early June. Natural gas for June settlement rose 10.2 cents to $4.192 per million British thermal units on the NYMEX, the highest close since May 1.
The Swiss currency slipped on Wednesday falling to the lowest level in four months against the 17-nation bloc currency after the International Monetary Fund said that the nation's real-estate market could be cooled by negative interest rates on banks' excess deposits. The Swiss Franc declined by 0.6% to 1.2529 per Euro and it fell 0.6% to 97.35 centimes per U.S.
Mexican currency declined on Wednesday amid speculations that the country's modest growth is slowing demand for the nation's securities as investors are waiting for result of today's meeting in Congress where Ben Bernanke is holding a speech about stimulus. Mexican Peso dropped 0.3% to 12.3355 per U.S. Dollar as of 4 p.m. local time and it has gained 4.2% this
Economic performance in the Organization for Economic Cooperation and Development area increased in the first three months of 2013, however, the overall figure masks wide spectrum of results, the organization showed in a report. The OECD's GDP rose 0.4% in the Q1, when GDP in the U.S. and Japan added 0.9% and 0.6%, respectively, while the EU17's GDP showed contractions
The British Sterling dropped on Wednesday falling to the weakest level in four weeks versus the Euro before the Bank of England's minutes from this month's policy meeting were published today. The so-called Cable was little changed at 85.20 pence per Euro as of 7:37 a.m. London time following a declined to the lowest level since April 25 at 85.31
The U.S. Dollar was lower by 0.1% to 1.2923 per Euro by the midday trading session in Tokyo on Wednesday. The currency also depreciated 0.5% in last two days, as investors raised concern that Federal Reserve Chairman Ben Bernanake will maintain monetary stimulus and go in the line with Fed presidents from other regions, who officially annouced that bond buying
Gold fluctuated on Wednesday amid speculation that the Fed may scale back stimulus before the Federal Reserve Chairman Ben Bernanke testifies in the U.S. Congress today. Spot gold swung between gains and losses and was traded at $1,377.23 an ounce as of 10:52 a.m. Singapore time following an increase of 0.3% and an yesterday's drop by 1.3%.
Emerging-market shares increased on Wednesday led by consumer discretionary companies as Hyundai Motor Co. and Kia Motors Corp. drove the sector and as the BoJ maintains its monetary program before Ben Bernanke's speech taking place in the U.S. Congress today. The MSCI Emerging Markets Index gained 0.2% to 1,050.26 as of 12:54 p.m. Singapore time.
U.S. Treasuries fluctuated on Wednesday and were traded near the weakest level in five years amid speculations that the Federal Reserve may sustain its stimulus program after yesterday's speech of the Fed's Chairman Ben Bernanke. The benchmark 10-year yields were traded at 1.93% as of 6:45 a.m. London time after the rates declined by 0.04% yesterday.
Government bonds of Germany were little changed on Wednesday after they lost 1% yesterday as the country prepares to sell debt due in May 2023 in auction totaling five billion euros, or $6.5 billion. German benchmark 10-year bund yields fell to 1.39% as of 7:14 a.m. in London after the rates climbed to 1.42% yesterday, the highest level since March
The Canadian Dollar dropped by 0.3% to 1.0267 per U.S. Dollar in the end of Toronto trading session on Tuesday. The currency slipped to more than a two-month low, as investors speculated about a reduction of the monetary stimulus in the biggest world's economy, as it signals about an improving labor market and substantially growing gross domestic product.
European share were little changed on Wednesday before meeting of European Union leaders and as investors waited for a report showing that existing homes sales in the U.S. to climbed to the highest level in a three-year period in April. Futures of the benchmark Euro Stoxx 50 Index advanced by 0.1% to 2,814 as of 7:12 a.m. London time.
Japan's trade balance is expected to show a deficit for the tenth successive month in April despite higher exports recording a second straight climb, a survey published by Reuters showed on Wednesday. According to the survey, exports are forecast to grow by 5.9% from a year earlier following a 1.1% gain in March, which would bring Japan's trade deficit to
The South Korean Won depreciated 0.1% to 1,111.75 per U.S. Dollar in the morning of Seoul trading session on Wednesday. The currency snapped last two-day gains, as the Bank of Korea Governor said that emerging markets, including Korea, are fuelled by the U.S. monetary stimulus and the possibility of ending it may dim their optimistic prospects of expansion.
The Bank of Japan affirmed its decision to double the money supply by expanding it $683 billion a year in an attempt to increase inflation in the country. The decision came despite rising government bond yields, which might undermine the central bank's efforts to revive the economy. However, surging stock market and the depreciating Yen, which has lost 16% of