Rural commodities tumbled on Thursday on mounting concerns that US budget clashes will slow economic expansion thus eroding demand for farm commodities. Broadly stronger US Dollar in combination with falling demand for US exports created notable pressure on the commodity group.Wheat slid as demand for US exports continued to deteriorate. USDA reported that US wheat export sales attained 309,700 metric
Energy futures sank on Thursday amid fading effect of both the Fed easing measures and an upgrade in the global consumption forecast. Investors focused on uncertainty surrounding US budget dispute. A failure to avert so-called fiscal cliff is expected to lead to recession of the world's top economy. Moreover, an unexpected increase in the US crude oil stockpiles last week
The Euro Stoxx 50 Index futures were up by 0.3% to 2,628 points in the very early London trading session on Friday. European equity futures advance before a report on the Euro area manufacturing and service situation. Also, investors were awaiting progress in the U.S. budget issue. The main companies today are: UBS, which can be fined by $1 billion
Industrial metals were bearish on Thursday as investors became increasingly concerned over the lack of progress in the US budget talks. Moreover, weak US retail sales data as well as firm greenback added pressure on the base metals pack. Meanwhile, market participants were cautious ahead of the flash PMI releases from China, the Eurozone and the US due on Friday.Aluminum
The Shanghai Composite Index surged 4.3% to 2,150.63 points in the end of Asian trading session on Friday. That was the biggest gain since October 2009, as the market was driven by speculation that state backed institutions were purchasing shares on a positive manufacturing survey's results, which in turn added optimism and strengthened conviction that the second biggest world economy
The Chile's Peso experienced a 0.2% drop to 475.10 per Dollar in the end of trading session in Santiago on Thursday. The Peso slipped from an eight week high mainly due to depreciating copper after the Federal Reserve System showed concern about the U.S. budget issues reaching a deal on tax increase and government spending cuts. Copper makes a big
Retail sales in the world's largest economy grew below economists' expectations in November as an abrupt decline in gas station spending offset a rise in other sectors, the Commerce Department reported on Thursday. Report showed a modest 0.3% gain in retail sales in November, when the spending made at gas stations dropped 4.0%, overshadowing a striking increase in sales by
Precious metals retreated on Thursday as boost from the Fed additional stimulus measures appeared to be short-lived. The commodity group also was pressurized by concerns that looming fiscal cliff in the US will erode investment demand for precious metals. Gold slumped on worries over nearing budget clashes in the US. Stronger greenback and widely expected Fed decision also weighed on
Oil advanced in New York as a report showed China's manufacturing may accelerate this month. Crude for January settlement rose as much as 71 cents to $86.60 a barrel and traded $86.57 as of 1:33 p.m. in Singapore. The contract declined 88 cents to $85.89 a day earlier. Brent for January delivery gained 49 cents to $108.40 a barrel, while
Asian stocks fluctuated as report showed Chinese manufacturing may expand this month and as Japan's business confidence fell. The MSCI Asia Pacific was at 127.17 at 2:40 p.m. in Tokyo, swinging between gains of 0.1% and losses of 0.3%. Japan's Nikkei 225 Stock Average fluctuated on prospects the opposition party will win the elections this weekend and urge the central
The South Korea's Won was set for the biggest weekly advance in 3 months on speculation investors will prefer the country's assets as the Fed extends its asset purchases, thus increasing supply of greenback. The Won rose 0.8% this week to 1,073.45 per U.S. Dollar, the most since September 14. One-month implied volatility increased 3 basis points, or 0.03%, to
The South Pacific currencies strengthened, trimming earlier losses, as a report showed China's manufacturing might rise at a faster pace, increasing trade prospects. The Aussie rose 0.1% to $1.0544 at 4:32 p.m. in Sydney, after earlier falling 0.2%, and added 0.4% to 88.45 yen, after fetching 88.47, the strongest since March. The kiwi gained 0.2% to 81.46 U.S. cents from
Japan's currency weakened to the lowest level since March versus the U.S. Dollar on speculation the Liberal Democratic Party will win the elections this weekend and force the BOJ to extend its monetary easing. The Japanese Yen fetched 83.93 per greenback, the weakest since March 21, before declining 0.3% to 83.91 from yesterday. It lost 0.4% to 109.81 per Euro
European shares dropped from their highest level in 18 months, after Ben S. Bernanke's announced that a budget deal is needed to avert the "the fiscal cliff". Experts expressed opinion that interest rates have already been lowered and more monetary stimulus would only have marginal effect. The U.K. FTSE decreased 0.12%, or 7.29 points to 5,938.73, being one from 11
The German shares erased their earlier gains after the Chairman of Federal Reserve said the approved plan to purchase $45 billion a month Treasury securities will not resolve the "fiscal cliff ", as no progress has been made in reaching the U.S. budget deal.The German DAX index lost 0.27%, or 20.25 points, to 7,594.26 by 15:25 GMT. The index has
Finance ministers of the Eurozone approved a second bailout installment to the debt-burden Greek economy as the country completed its debt buyback plan in Brussels meeting on Thursday. The European Financial Stability Facility is to release the aid of 49.1 billion euro in several tranches, when the first one of 34.3 billion euro is to be sent in the next few days,
Hong Kong shares slightly decreased, halting a further rally on rising concerns over the so called "fiscal cliff". However, foreign investors are showing more interest into Hong Kong's stocks amid speculation Chinese economy is recovering, as recent data show positive signs. The Hang Seng index fell 0.26%, or 57.77 points, to 22,445.58, even though shares listed in China outperformed the
Asian stocks gained on the rally of Japanese exporters as the yen depreciated to almost nine-month low against the dollar. The currency dropped on optimism Shinzo Abe will win the election on December 16. Experts say the current economic state and the overall environment is quite supportive for Asian stocks.The Japanese Nikkei 225 Stock Average gained 1.68%, or 161.27 to
Ben Bernanke, chairman of the Federal Reserves Bank, announced yesterday an additional stimulus tool by purchasing $45 billion treasuries every month, expecting that would help to boost economic growth, but pushing the Fed's balance sheet from $2.86 trillion to $4 trillion by the end of next year. Also, Bernanke said that the key interest rate will stay unchanged until the
The Won, South Korea's domestic currency, increased for a fifth day, as the price increased by 0.2% to 1,073.03 against the Dollar in Seoul trading session on Thursday. The Won experiences the longest streak of gains since October, as the U.S. governors fail to reach a deal on the budget and Fed announced an expansion of the monetary easing program
Spot gold price dropped by 1% to $1,694.35 an ounce in the beginning of Asian trading hours on Thursday. Gold slipped to a one week low after a recent rally as the price reached the highest price this month. Investors sell this precious metal on the news from U.S. lawmakers, as they face difficulties to reach a deal on U.S.
Crude oil futures for January settlement were 39 cents lower to $86.68 a barrel on the New York Mercantile Exchange during Singapore trading session on Thursday. Oil slipped from a one-week high, as U.S. lawmakers are unable to find an agreement on the next year budget, what increases concerns that the U.S. will experience spending cuts and tax increases, also
The Euro Stoxx 50 Index futures increased by 0.3% to 2,637 points in early London trading session on Thursday. Stock futures indicate that the Stoxx 600 Index will prolong its 18-month high, as yesterday the Federal Reserve Bank announced that it will buy treasury securities for $45 billion every month, in order to boost the domestic economy and reduce the
The MSCI Asia Pacific Index increased by 0.3% to 127.3 points in the end of Tokyo trading session on Thursday. Asian benchmark extends its the longest winning streak in last three years. Stock indexes were up, due to advanced Japanese exporters, which face better opportunities to trade as the Yen depreciates and already touched a nine-month low against the Dollar.