According to official data of the Australian Bureau of Statistics, trade deficit in Australia widened in August, with the balance on services and goods at deficit of $2.027 billion, compared with July's figure of $1.53 billion. It is the biggest trade deficit since March 2008 and the country's 8 consecutive deficit. During August, exports declined 3%, whereas imports fell 1%.
Energy commodities, excluding natural gas, dropped on Tuesday amid renewed eurozone woes. Market participants were confused as Spain may delay applying for the next bailout. However, broadly weaker US Dollar as well as slightly improved manufacturing activity limited the downswing. Crude oil shed 0.64% ahead of the weekly EIA report on US inventories due on Wednesday. US stockpiles are expected to
Asian stocks declined after China's non-manufacturing sector expanded at the slowest pace since March 2011 and Spain's PM said bailout request is not unavoidable. The MSCI Asia Pacific Index fell 0.4% to 121.58. Japan's Nikkei 225 Stock Average slipped 0.5% and Taiwan's Taiex slid 0.5%. Australia's S&P ASX 200 Index climbed 0.1%.
Base metals except for copper erased previous gains on Tuesday on signs that Spain may delay a request for the next bailout. Weaker global equities coupled with higher risk-aversion among investors also created heavy selling pressure on industrial metals. Aluminum dropped despite slight decline in the LME inventories and positive manufacturing data releases. Copper was the only gainer, approaching seven-day
The Euro traded 0.8% from a 3-week low amid signs of economic slowdown and built up pressure on central bank officials to consider fresh measures at a meeting this week. The 17-nation currency fell 0.2% to $1.2901, after touching $1.2804 on 1 October, the weakest level since 11 September. The Euro was at 100.88 yen down from 100.97.
Precious metals apart from palladium dropped on fading support from inflation concerns amid global stimulus measures. At the same time, broadly weaker US Dollar created an upward pressure on the commodity group Gold retreated from 11-month high on rising uncertainty over Spain's bailout. On Tuesday, Spanish news agencies reported that Spain's PM told his political party that the country will probably
China's non-manufacturing purchasing manager index fell 2.6 percentage points to 53.7% in September, according to the official data on Wednesday. PMI reading above 50% indicates an expansion from a month earlier, whereas reading below 50% signals a contraction.
Output at Brazil's mines and factories rose less than expected last month, the Instituto Brasiliero de Geografia e Estatistica said Tuesday. Brazilian Industrial Production advanced to -2.0%, up from -2.7% in the previous month. Analysts had predicted nation's industrial production to jump to -1.5% in September.
South Korean consumer price inflation quickened in September but was still well below the central bank's target, the Korea National Statistical Office reported Tuesday. Nation's CPI annual inflation rate picked up to 2.0%in September, up from a 12-year low of 1.2% in the previous month.
Wall Street edged higher on Tuesday after a report that Spain soon will request a sovereign bailout from the eurozone and the market sentiment remained supported by yesterday's better-than-expected U.S. manufacturing data. The Dow Jones Industrial Average rose 0.3%, to 13,556; the Standard & Poor 500 Index gained 0.5%, to 1,451.07, while Nasdaq-100 futures jumped 0.6%, to 3,130.7.
German equities jumped on Tuesday, drawing strength from hopes that Spain will soon apply for the bailout. Positive data from the US coupled with strong US equities also supported the stock index ahead of German bank holiday due on Wednesday. The DAX Index gained 0.50% and is currently trading at 7,334.03. Six out of nine sectors included in the index
UK equities are trading higher on Tuesday after Spanish borrowing costs dropped amid rising hopes that the country sill soon apply for a new bailout. Yields on Spain's 10-year bonds lost 15 bsp to 5.73%. Lifting the UK shares further, the country's construction PMI added 0.5 points to 49.5 last month. A reading below 50 indicates contraction. The FTSE 100
Brazilian stocks ended Monday's session on the positive note amid optimism over Spanish bailout and encouraging news from the US manufacturing sector. Positive data from national economy also boosted market sentiment. Brazilian manufacturing activity index moved close to 50 level that separates contraction form expansion. Five out of nine sectors included in the index advanced. The top-gainers were basic materials
Japanese equities retreated on Tuesday amid fears that corporate profits will be worse than expected as companies are slashing income forecasts. However, shares found support on optimism over eurozone and US. US ISM manufacturing PMI rose more than expected while Ben Bernanke promised to sustain stimulus. The Nikkei 225 Index slid 0.12% to end Tuesday's session at 8,786.05. A half
US blue chips climbed on Monday amid positive manufacturing activity data from the national economy. The Institute of Supply Management reported that its manufacturing PMI climbed to 51.5 in August compared to 49.7 in the preceding month. A reading above 50 indicates expansion of the manufacturing sector. Rising optimism over Spanish bailout also contributed to the US blue chips' rally.
US stocks traded higher on Monday on encouraging manufacturing activity data. Positive news from Spain also boosted US equities. The S&P 500 Index rose 0.27% to end the session at 1,444.49. Seven out of ten sectors included in the index climbed. The top-gainers were health care and consumer goods, adding 0.60% and 0.56%. Aetna, AmerisourceBergen and Cardinal Health advanced 0.53%,
European stocks advanced on Tuesday, amid reports that Spain is moving closer to asking for a full bailout. The Stoxx Europe 600 Index added 0.2% to 272.84; French CAC 40 Index jumped 0.25% to 3,442.99, while German DAX 30 Index added 0.4% to 7,354.59. At the same time, investors are waiting for the outcome of Moody's review of Spain's credit rating, which could be cut
Oil prices were modestly higher during European trading session on Tuesday. November-delivery crude gained 0.2% to $92.69 per barrel in New York. Same month natural gas rallied for the sixth consecutive day, almost 1% up to $3.51 per million Btu. November heating oil was little changed at $3.14 per gallon, while gasoline for the same month lost 0.9% to $2.89
Gold prices were gently lower in European session on Tuesday, falling from a 7-month high close yesterday. December-delivery gold futures dropped 0.1% to 1,781.40 per ounce in New York. Elsewhere, same month silver depreciated 0.2% to $34.88 per ounce and platinum for January delivery lost 0.5% to $1.677.50, while December copper gained 0.3% to $3.80 per pound.
European stocks posted a mid-morning recovery on Tuesday, lead by the Spanish stocks' gains amid reports showing the country is prepared to request a bailout. The Stoxx Europe 600 added 0.2% to 272.73. The Ibex 35 soared 1% to 7,860.90, while the Dax 30 lost 0.4% to 7,352.92. The FTSE 100 gained 0.2% to 5,830.54. The CAC 40 was little
U.S. stock futures inched higher on Tuesday as traders continued to find encouragement in improved U.S. production data and global central banks' activity. However, global growth concerns are still on the spot. Dow Jones futures gained 45 points to 13,482. Futures on S&P advanced 6.2 points to 1,443.10, while those on Nasdaq added 11.75 points to 2,800.
On Tuesday, the Cable was slightly higher versus the U.S. counterpart, but gains seemed to be capped amid uncertainty over if Spain will seek for a bailout, and disappointing U.K. data. GBP/USD hit a session high of 1.6163 and subsequently consolidated at 1.6152, which was a 0.14% growth for the European morning trading session.
Euro area's Producer Price Inflation surged more than estimated in August, Eurostat said on Tuesday. The PPI rose 2.7% on year, compared to a 1.6% advance in July. Economists had forecast an increase of 2.6%. Month-on-month PPI added 0.9%, faster than a 0.3% rise in the preceding month and above expectations of a 0.6% surge.
On Tuesday, prices for copper eased, following a three-day growing streak on holidays in China, a top consumer of the metal. Three-month copper eased 0.40% on the London Metal Exchange to trade at $8,266.50 per tonne at 08:12 a.m. London time, which partly reversed gains from the preceding session, when it edged 1% higher.