The European Central Bank reported on Thursday that Eurozone M3 money supply advanced less than expected last month. Supply of the 17-nation currency grew by 2.7% at an annualized basis in September, whereas analysts expected a 3.0% increase. An increase in M3 money supply in August was revised down to 2.8% from an initial estimate of 2.7%.
Instituto Nacional de Estadistica reported on Thursday that Spanish producer price index declined more than expected. Spain's PPI decreased to a reading of 3.8% on a seasonally adjusted basis from a figure of 4.1% in the month before. Economists, however, expected producer price inflation would be equal to 4.0% in September.
On Thursday, the Cable advanced versus the greenback, as market sentiment was influenced by an upcoming report which is widely expected to show that the British economy started to grow in the quarter from July to September. The British Pound added 0.2% versus the U.S. Dollar, being traded at $1.6070 by 8:01 a.m. in London.
On Thursday, the Euro was traded higher versus the U.S. counterpart, following a Fed's announcement that although some signs of improvements in the economy are present, it would not remove its monetary policy. EUR/USD hit 1.3014 in early European trading hours, which the was the highest since Tuesday, later the pair consolidated at 1.2995, advancing by 0.18%.
European stocks were flat to slightly up on Thursday, as traders considered yesterday's statement from Fed, when it said it will hold on to its loose monetary policy. The Stoxx Europe 600 and the DAX 30 indexes both were little changed at 269.40 and 7,198.40, respectively. Meanwhile, the FTSE 100 index gained 0.1% to 5,813.29 and the CAC 40 Index
On Thursday, copper was traded higher, ending a four-day long streak of losses, on optimistic manufacturing data from China and the United States. On the London Metal Exchange, three-month copper increased by 0.6% to trade at $7,864.75 per metric tonne at 11.41 p.m. in New York. Earlier, copper lost 5% during the previous 4 days.
On Thursday, the Kiwi touched a two-and-a-half week high versus the U.S. Dollar, after the central bank of the New Zealand announced that it will leave it interest rates unchanged. The New Zealand Dollar grew by 0.4% versus the greenback, and was traded a $0.8235, which was the highest level since October 9.
Gold futures fluctuated on Thursday, gaining support near $1,700 per ounce after declining more than $50 during the past week, as the U.S. Dollar depreciated. December delivery futures advanced 0.4% to $1,709.10 per ounce. Same month silver surged 1%, copper rose 0.2% and palladium jumped 1.3%. January platinum futures soared 1%. The ICE Dollar Index slid to 79.8750 from 79.932.
U.S. Treasuries slipped for a second day on Thursday ahead of a $29 billion seven-year auction and a report forecast to reveal increase in durable goods. The 10-year yield rose 2 basis points to 1.81%, while the price of the 1.625% debt maturing in August 2022 dropped 6/32 to 98 10/32. The U.S. sold out $35 billion of two-year notes
The Yen slid to a four-month low on Thursday after the Nikkei newspaper said that the Bank of Japan will consider expanding its asset-buying program by $125 billion at its meeting at the end of October. The Yen traded at 80.08 per U.S. Dollar, 0.3% down from the previous session, after touching 80.11, the weakest since June 25. It also
On Thursday, Graeme Wheeler, a new chief of the New Zealand's central bank, announced that the bank would maintain its benchmark interest at a record low of 2.5%, as strong currency hurts the country's exports, which are accounted for about 30% of GDP. The decision was in compliance with economists' expectations.
Oil in New York was near a 3-month low on Thursday as U.S. inventories increased more than expected and fuel demand tumbled. December-delivery oil rose 32 cents to trade at $86.05 per barrel in New York. Same month Brent crude added 27 cents to $108.12 per barrel in London, trading at premium of $22.05 to West Texas Intermediate grade, compared
Asia stocks seesaw in Thursday's choppy session, as losses in earnings across Pacific weighed on confidence. The Hang Seng Index was little changed after rising for nine consecutive sessions, but the Shanghai Composite Index fell 0.2%. The Nikkei advanced 0.3% and the S&P/ASX 200 Index added 0.2%, while the Kospi slipped 0.1%.
US blue chips closed with big losses on Tuesday amid weak quarterly reports and fears that earnings will continue to shrink. Sending the US blue chips lower, Moody's downgraded five regions of Spain. Moreover, cautiousness among investors rose ahead of the FOMC meeting and ECB president's speech due on Wednesday. The Dow Jones Industrial Average Index plunged 1.82% to close
Japanese equities were mostly lower on Wednesday as risk sentiment remained under pressure after Moody's cut credit rating on five regions in Spain. Dismal quarterly reports from the US also created pressure on Asian stocks. However, encouraging China's manufacturing data and softer Yen lent support for Japanese shares. The Nikkei 225 Index lost 0.67% to end the session at 8,954.30.
The Hang Seng Index reached one-year high on Wednesday, supported by hopes that QE3 in the US will result in more capital inflows in the city. Mounting expectations that the POBC will announce easing measures also boosted Hong Kong equities. Adding to the winning streak of Hong Kong stock index, China's flesh PMI contracted at the slowest pace in three
German equities bounced off recent lows on Wednesday ahead of FOMC statement due later in the day. However, dismal national data capped the upswing. German Ifo Business Climate Index dropped more than forecast this month while manufacturing activity contracted ore than expected in September. The DAX Index gained 0.48% and is currently trading at 7,208.10. Only three in nine sectors
UK shares rebounded on Wednesday despite weak data from the eurozone. Eurozone's manufacturing PMI indicated further contraction in October. Meanwhile, investors remained cautious ahead of FOMC statement due later in the day. The FTSE 100 Index gained 0.22% to trade at 5,813.22. Seven out of ten sectors within the index climbed. The top-performer was technology sector, adding 3.39%. ARM Holdings
Markit, a market research group reported on Wednesday that U.S. manufacturing activity added less than expected this month. Manufacturing PMI grew to a reading of 51.3 in October, compared a previous month's figure of 51.1. However, economists expected that the index would grow more and reach the level of 51.6.
On Wednesday, the Euro was traded lower versus the U.S. Dollar, following a set of disappointing data from Eurozone. EUR/USD hit a session low of 1.2921, and later consolidated at 1.2949, which was a 0.28% decrease for the European afternoon trading session. The pair's support was likely to be found at 1.2834, while the resistance was prone to be
On Wednesday, treasuries were traded lower, as it was widely expected that an upcoming report on new home sales in the U.S. would show an increase, which undermined demand for safer assets. The yield on benchmark 10-year government notes added 3 basis points, reaching the level of 1.78% by 8:28 a.m. in New York.
The Australian Bureau of Statistics reported on Wednesday that consumer price inflation increased more than expected in the quarter prior to October 2012. The cost of living in Australia added 1.4%, whereas preceding quarter's inflation was only 0.5%. Analysts, however, expected that the index would increase to 1.1%.
On Monday, crude oil was traded higher, but gains seemed to be capped by a streak of disappointing data from Eurozone. On the NYMEX, December delivery futures for light sweet crude were traded at $86.89 per barrel, which was a 0.25% decline for the European morning trade. Earlier, the commodity prices hit a session high of $87.47.
On Wednesday, copper was traded slightly higher, trimming earlier gains, on disappointing data from Eurozone. On the NYMEX, December delivery futures were traded at $3.578 per pound, which was a 0.2% growth for the European morning trade. Earlier, the commodity grew by 0.75%, reaching a price level of $3.597.