The Nikkei 225 index started Wednesday's session with sharp decline but by the end of the trading the index pared losses as US President Barack Obama was re-elected for a second term. Meanwhile, traders remained cautious as Greece votes on fresh round of austerity measures on Wednesday. The Nikkei 225 Index moved lower by 0.03% to close at 8,972.89. Six
The European Commission forecast the euro-area economy will shrink in 2013 on the debt turmoil in Southern Europe that squeezes export-driven German economy. According to estimates, euro economy will grow 0.1% next year, and growth of Europe's largest economy will ease from 1.7% to 0.8 %. The single currency has slumped 0.4% to $1.2761 after the forecast and Mario Draghi's announcement that the debt crisis threatens
Treasuries reached their highest level in 11 weeks, as president Barack Obama was re-elected for a second term. Yield on the 10-year treasury tumbled 10 basis points to 1.65%, while government bonds rebounded to 1.81% in 2012. The government securities have gained around 14% since the President Barack Obama took leadership. Meanwhile, yield on two-year Treasury notes lost 3 basis points and touched its lowest
Farm commodities apart from coffee rose as investors were focused on the US elections. Broadly weaker greenback coupled with record low US crop ratings created strong upward pressure on rural commodities.Wheat jumped after the USDA reported that only 39% of the US winter wheat crop was rated in ‘excellent' and ‘good' condition, a record low for this per5iod of the
Energy futures soared on Tuesday on the US easing speculation and bottom fishing. However, the upswing was capped as refineries in the US Northeast are not expected to return to pre-hurricane production levels soon. Meanwhile, traders also remained focused on the EIA inventory report due on Wednesday.Crude oil skyrocketed as market turned bullish on the US presidential election day. Meanwhile,
Base metals rebounded on Tuesday ahead of the US presidential election's results and Chinese Communist Party Congress due later in the week. Investors weighted possibility of more aggressive measures in China after a leadership change. Moreover, hopes that the US will continue to stick to loosening monetary policy spurred rally in the industrial metals' pack.Aluminum climbed on speculation about additional
Precious metals rallied on Tuesday amid bullish sentiment on the US election day. Speculation that the US will embark on additional stimulus measures regardless of the winner in presidential election pushed precious metals higher. Moreover, slightly weaker US Dollar added to gains of the commodity group.Gold soared the most in seven weeks on hopes that US will ease its monetary
The Pound strengthened versus the greenback as investors sold greenbacks after Barack Obama was re-elected. Sterling advanced 0.1% against the U.S. Dollar and traded at $1.6010 after gaining 0.3% on Tuesday. The British currency is forecast to decline to $1.51 by 2014. Following yesterday's gain to five-weeks high, the Pound lost 0.1% against the Euro and traded at 80.19 pence
The National Debt Office of Sweden announced today, that the actual domestic budget deficit was 14.2 billion Swedish Krona in October, what is 1.7 billion more than the government's predictions. Budget plan was not implemented, as tax income was lower by 3 billion Swedish Krona than government budget guidance. For one year period, till the end of 2012, Swedish government deficit should
The Stoxx Europe 600 Index advanced 0.4% to 275.86 in early European trading session on Wednesday. Europe's equities are higher four days out of five, as Barack Obama defeated Mitt Romney in the presidential elections. As the U.S. elections finished, markets expect clarification from the Bank of England and the European Central Bank. Announcements from these institutions should bring busier trading sessions in the next
South Korea's Won was 0.5% higher to 1,085.55 per Dollar in Seoul trading session on Wednesday. The Won reached a 14-month high, as the U.S. presidential election results were announced and Barack Obama secured the Presidential position. However, such high exchange rate of the Won threatens to hurt South Korea's export as the domestic economy started to show recovery signs.
Brent type oil for December supply was 26 cents higher to $111.33 a barrel on the ICE Futures Europe exchange on Wednesday. After the announcement of the U.S. re-election results tonight, investors shifted capital to the commodity markets, as the President Barack Obama is a supporter of a loose monetary policy and further money interventions are possible.
Wheat steps higher as for December settlement price advanced 0.3% to $8.8 a bushel in the end of Asia trading hours on Wednesday. Investors were trading commodities positively, as Barack Obama won re-election bringing expectations that U.S. monetary policy will stay loose. That brings the U.S. Dollar value down and increases the appetite for more risky assets.
Rubber for April settlement was 2.4% higher to 252.5 Yen per kilogram or $3,149 a metric ton in the end of Asia trading hours. Rubber price rebounded from a seven-week bottom, which was reached yesterday, as market closed at 246.6 Yen per kilogram. Together with other commodities, rubber is higher, as Barack Obama won re-election meaning that the U.S. will probably maintain the easier monetary
Futures on U.S. stocks drop on Obama's victory in the elections. S&P 500 futures due in December fell 0.3% to 1,421, after tumbling 1% earlier. Meanwhile, the contracts on Dow Jones industrial average decreased 0.4% to 13.149. However, the equities have surged 3% on average throughout the last two months. In addition, the S&P 500 added 15% since its low level in June, after central
Copper and gold climbed, as oil pared losses on Barack Obama's victory of a second term, boosting speculation that the U.S. will extend stimulus measures. Spot gold rose 0.6% to $1,726.57 an ounce and traded at $1,722.63 at 1:50 p.m. Singapore time. Copper gained 1.3% to $7,798 a metric ton in London, and traded at $7,736.25.
According to the Ministry of Finance, Japan's official reserves declined by $2.84 billion to $1.274 in October. Foreign currency assets amounted $1.196 trillion compared to $1.198 trillion in the previous month, while other foreign currency reserves $27.999 billion, including loans to the Japan Bank for International Cooperation.
Consumer price inflation in Estonia rose in October, after it remained unchanged in the month earlier, according to the data released by Statistics Estonia on Wednesday. The CPI increased 4.1% year-on-year in October, after climbing 3.8% each in August and September. The increase in prices was impacted by food and non-alcoholic beverages prices, which rose 6.3% annually, whereas footwear and
The Canadian Dollar traded up against the majority of its peers on advancing U.S. shares and growing risk appetite for higher-risk assets. The currency is forecast to extend more gains, exceeding its two-week high, as soon as the election is over. The Canadian Dollar surged 0.4% to 99.21 cents a dollar, after rebounding from its lowest level of C$1.0019.
Australia's Dollar strengthened versus the U.S. counterpart amid speculation U.S. President Barack Obama's re-election victory will increase chances of continued monetary stimulus by the Fed, which tends to weaken the U.S. Dollar. The Aussie rose 0.2% to $1.0451, following an earlier drop of 0.2%. The New Zealand Dollar gained 0.1% to 82.78 U.S. cents, after it falls 0.4%.
The U.S. Dollar fell on speculation Barack Obama's re-election victory will increase chances that the U.S. will keep the monetary stimulus measures, which tend to debase the nation's currency. The greenback lost 0.4% to $1.2861 per Euro as of 2:48 p.m. in Tokyo, after earlier rising 0.2%. The Dollar weakened 0.4% to 80.07 yen.
Asian stocks rallied after Barack Obama won the election. The MSCI Asia Pacific Index (MXAP) rose 0.6% on positive gauges of technology, telecommunications and materials companies, whereas futures on S&P 500 index lost 0.3%. The largest Japanese carmaker Nissan Motor Co. gained 4.1%, as orders improved amid Obama being re-elected. Chinese Communist party holds their meeting tomorrow to decide on next leader of the nation.
European Union's financial services chief is worried that if Mitt Romney wins US president elections this would mean "a step back" for the US and world financial markets. He is worried that Republican program is full of temptations to ease up regulations for financial markets which were designed by G-20 and that participation of both, the US and the EU are,
Ten-year gilt yields fell to 1.80%, reaching five-week low, as a report showed U.K. manufacturing grew in September less than expected. U.K. benchmark gilts outpaced German bunds as the Bank of England officials meet tomorrow to take a decision, whether to increase fiscal policy through quantitative easing. Benchmark yields are forecast to reach 2.0% by the end of the year