Farm commodities plunged on Wednesday despite improved demand for riskier assets after the Fed announced additional stimulus measures. However, weak demand for US grains and rising production of softs in South America and China offset optimism over US economy, sending rural commodities lower.Wheat dipped after the USDA cut its outlook on US wheat exports in 2012-13, citing tough competition on
The Yen slipped to 83.67 versus the Dollar in early London trading session on Thursday. Japanese currency slipped more than 1% this week and dropped for the lowest level since 21st of March. Investors trade the Yen with negative sentiments on speculations that the Central Bank of Japan will expand monetary easing program after the election this weekend. Currently, the
Shanghai Composite Index slipped by 1% to 2,061.48 points in the end of Asian trading session on Thursday. That was the biggest decline since 3rd of December, as decreasing metal prices damage material producers and diminishing investor interest in the equity market pushed brokerages down. Direction of stock indexes is unclear, as investors have doubts about the sustainability of the
Energy futures except for natural gas rallied on Wednesday after the Fed expanded its asset purchasing program to USD45 billion a month. Moreover, the International Energy Agency raised its oil demand forecast for 2013 to 90.5 million barrels per day. However, an unexpected increase in the US crude oil supplies last week created notable pressure on energy prices. Meanwhile, the
Industrial metals, excluding nickel, jumped on Wednesday on brighter demand outlook in the US, China and the Eurozone. The Fed announced additional easing measures and linked interest rates to unemployment and inflation. Meanwhile, Eurozone's finance ministers agreed on banking union that may help to ease debt pressure in the region. However, elevated inventory levels at LME and weak data from
The U.S. Blue chips inched lower as the Fed's plan to buy $45 billion a month of Treasury securities needs to be supported by a budget deal to halt the "fiscal cliff". The president aims to reach a deal with Republicans , by lowering his tax increases' demand from $ 1.6 trillion on Tuesday to $1.4 trillion yesterday. However, the
The U.S. shares erased their earlier gains after Fed Chairman stated the monetary stimulus alone cannot avert the so called "fiscal cliff" effects of automatic tax hikes and spending cuts set to come into force next year. Investors now focus on the progress of budget talks in Washington. The S&P's 500 Index advanced less than 0.1% to 1,428.48 bouncing back
Precious metals apart from platinum moved higher after the Fed announced additional easing measures and set a threshold for record low interest rates. Rates will remain low as long as unemployment stays above 6.5% and inflation is not higher than 2.5%. However, the effect of FOMC comments was limited as the markets has already priced in Fed policy easing. Meanwhile,
Hong Kong shares gained ending at their 16-month highs on speculation that U.S. lawmakers will reach a deal to halt the so called fiscal cliff. Many HK shares inched higher amid foreign investors growing optimism on Chinese economy. The Hang Seng index inched 0.8% higher to 22,503.35 with gains spread across several sectors. The gauge is 22% up this year.
Japanese equities rose on growing optimism that the U.S. Federal Reserve will add more stimulus. The Fed is about to announce QE4 to supplement the Operation Twist that is expiring soon. The Nikkei Stock Average increased 0.6% to 9,581.46 moving closer to its highest level in eight months.All but two sectors within the index advanced Technology sector holding the leader
German stocks rallied to their highest level in five years on rising optimism the U.S. lawmakers in Washington will reach a budget deal and Fed will introduce measures to boost up the economic growth. The DAX index added 0.25%, or 18.50 points to 7,608.86, after earlier peaking at 7,612.62, highest level since January 2008. The index has gained 28% since
UK shares moved higher on speculation US Federal reserve would add more stimulus to support the world's biggest economy. Britain's top share FTSE index edged 0.23%, or 13.88 points, higher to 5,938.85 by 15:58 GMT, after earlier reaching its nine-month high at 5,941.89. The gains were mainly led by energy and basic materials. Five out of nine sectors within the
U.S. shares jumped, erasing earlier losses since November 6 in the Dow Jones Industrial Average, after German investor confidence improved unexpectedly in December raising hopes that the Europe's largest economy will recover next year. Meanwhile, policy makers in Washington began a meeting to decide whether to replace the mortgage bond-purchases of $40 billion a month with Treasury purchases as soon
U.S. stocks advanced as Germany's investor confidence rose more than expected in December and positive outlook for the federal budget talks in Washington. Optimism is rising for Germany to gather momentum in the year 2013. The S&P 500 index added 0.7% to 1,427.84, after earlier peaking 1.1% higher. The gauge is about 0.1% from erasing its loss since November 6
U.S. shares jumped, erasing earlier losses since November 6 in the Dow Jones Industrial Average, after German investor confidence improved unexpectedly in December raising hopes that the Europe's largest economy will recover next year. Meanwhile, policy makers in Washington began a meeting to decide whether to replace the mortgage bond-purchases of $40 billion a month with Treasury purchases as soon
Japanese equities rose on growing optimism that the U.S. Federal Reserve will add more stimulus. The Fed is about to announce QE4 to supplement the Operation Twist that is expiring soon. The Nikkei Stock Average increased 0.6% to 9,581.46 moving closer to its highest level in eight months.All but two sectors within the index advanced Technology sector holding the leader
Hong Kong shares gained ending at their 16-month highs on speculation that U.S. lawmakers will reach a deal to halt the so called fiscal cliff. Many HK shares inched higher amid foreign investors growing optimism on Chinese economy. The Hang Seng index inched 0.8% higher to 22,503.35 with gains spread across several sectors. The gauge is 22% up this year.
UK shares moved higher on speculation US Federal reserve would add more stimulus to support the world's biggest economy. Britain's top share FTSE index edged 0.23%, or 13.88 points, higher to 5,938.85 by 15:58 GMT, after earlier reaching its nine-month high at 5,941.89. The gains were mainly led by energy and basic materials. Five out of nine sectors within the
German stocks rallied to their highest level in five years on rising optimism the U.S. lawmakers in Washington will reach a budget deal and Fed will introduce measures to boost up the economic growth. The DAX index added 0.25%, or 18.50 points to 7,608.86, after earlier peaking at 7,612.62, highest level since January 2008. The index has gained 28% since
Core machinery orders in Japan rose for the first time in three-month period, though less-than-expected, climbing to a seasonally adjusted 2.6% in October to 704.4 billion yen, the Cabinet Office report showed on Wednesday. Year-on-year change of core machine orders recorded a 1.2% increase compared to projections of a 5.0% decline following a 7.8% contraction in September and a 6.1% drop in
U.S. import prices declined for the first time in a four-month period in November mainly due to a notable 3.0% step down in fuel prices the same month, the Labor Department reported on Wednesday. The report shows prices of import fell 0.9% in the eleventh month, more than initial projections of a 0.4% decrease, after a modest 0.3% gain recorded
Consumer price inflation in South Africa stayed at the highest level in four months in November equalling the level of inflation reached in the month before, the Statistics South Africa reported on Wednesday. The consumer price index increased annually by 5.6% in the eleventh and tenth month fulfilling economists projections, when climbing to the highest figure since a 5.7% gain in May.
U.K. jobless claims slipped by 3,000 in November, comparing with October data, to 1.58 million, as the Office for National Statistics announced on Wednesday in London. The actual number was better than a forecast, a 7,000 gain, but the jobless rate held unchanged at 7.8%. The current figure will provide a fresh stimulus for the Prime Minister, as the economy
Gold futures for February settlement were higher by 0.1%, or $2.30, to $1,711.90 an ounce in Asian trading hours on Wednesday. Investors showed preferences for this precious metal, as markets are expected to hear a Fed's commitment to expand asset purchases by 45 billion Dollar every month. That was the first drop in the last four trading sessions. Depreciation of