The New Zealand and Australian Dollars fell rapidly versus their US peer and Japanese Yen on Wednesday as lingering worries about European debt turmoil curbed demand for riskier assets. Aussie lost 0.6% against greenback to USD 1.0251 and fell 1.6% versus Yen to JPY 82.70 while Kiwi dropped 0.8% versus US Dollar to USD 0.8149 and plunged 1.8% against Japanese
Japanese Yen slightly fell against US Dollar and Euro on investor projections the Bank of Japan may apply monetary easing later in April. Japanese currency lost 0.4% versus Euro to JPY 105.97 and shed 0.3% against greenback to JPY 80.88. Currently EUR/JPY is trading at JPY 105.94 and USD/JPY is trading at JPY 80.86.
Gold futures to be delivered in June modestly declined on Wednesday's electronic trade. June gold slipped 0.2% or USD 4.0 to USD 1,656.70 an ounce while May silver dropped 0.3% or USD 0.09 to USD 31.59 an ounce. Platinum for July gave up 0.2% or USD 2.6 to USD 1,591.10 an ounce whereas copper to be delivered in May advanced
Crude oil traded close to a 8-week record low as reports showed US stockpiles increased. May crude futures slightly climbed during Asian session on Wednesday, adding USD 0.23 to USD 101.25 a barrel. The same contract fell 1.4% yesterday to USD 101.02 a record low since February 14. Brent oil to be delivered in May also gained USD 0.23 to USD
European stock markets traded notably lower on Wednesday day as Spanish and Italian borrowing costs surged on renewed debt concerns. Spanish IBEX 35 index plunged 3% while Italian FTSE MIB index tumbled 5%. French CAC 40 index dropped 3%, German DAX fell 2.5% and British FTSE 100 index lost 2.2%. In contrast Athens General index gained 3.2% on successful bond auction.
Spain's EUR 10 billion austerity measures did not ease investor worries the country is likely to be the next to demand a bailout. The borrowing costs for Spanish benchmark 10-year bills rallied almost 20 basis points to 5.94% on Tuesday after Miguel Angel Fernandez Ordonez, the Governor of the Bank of Spain said the country's financials may need extra capital
Japanese machinery orders unexpectedly surged in February, surpassing all analyst expectations, indicating that accelerating capital spending may support recovery. Orders rose 4.8% compared to a 3.4% gain last month, Cabinet Office said on Wednesday. In contrast economists questioned by Bloomberg predicted a drop of 0.8%.
Precious metals were mixed in thin Monday trade as gold and platinum advanced while silver and palladium retreated. Broadly weaker US Dollar after disappointing US payroll data spurred the commodity group while weaker equities limited the gains. Investors continued to anticipate fresh measures from the Fed as soft labour market returned hopes on more accommodative polices. Gold was the top-gainer
Industry metals traded in bearish trend on Monday amid global demand concerns. Accelerating China's inflation that is likely to put Beijing off further easing measures weighted down on the base metals pack. Moreover, weaker than expected US payroll data also continued to add to the negative mood of the commodity group. However, the trading volumes were thin as the LME
Rural commodities excluding wheat tumbled in thin holiday sessions on Monday, being pressured by weaker world's equities. Wheat was the only gainer as cold weather in the EU is likely to damage winter crops. However, grains came under additional pressure as Ukraine plans to increase spring plantings by 13% to offset winter losses. Corn followed bearish trend due to excellent
Energy commodities except for natural gas were lower on choppy trade on Monday along with weaker US Dollar and softer global equities. Easing supply concerns after Iran entered negotiations with Western economies regarding its nuclear programme weighted down on the commodity group. Moreover, demand from the US and China may weaken after disappointing US labour market performance and growing CPI
Swiss jobless rate eased down to unadjusted 3.2% last month as compared to 3.4% in February. Experts projected the unemployment rate to approach 3.3% last month. The number of individual without job decreased by 6,762 to 126,392 in March. After the data release, the Swiss Franc remained lower against its US counterpart and USD/CHF traded at 0.9211, appreciating by 0.36%.
Spanish banks are likely to need additional funds as economic state of the country has continued to deteriorate, announced Miguel Angel Fernandez Ordonez from bank of Spain. Spanish banks are facing next round of increase in bad loans as country enters the second wave of crisis in the last three years. Experts predict Spain to apply for a new bailout
Bank of England reported that recent monetary policy easing by the ECB is not expected to improve the labour market in the region. The rate of unemployment is likely to remain high in the following years. According to the best scenario, the EU would see some improvement in its job market in mid-2014, said Adam Posen from BoE.
Australian business confidence improved last month amid signs of recovery in the US and the EU, according to NAB business survey. The country's business confidence gained two points approaching plus three in March, implying that more companies were optimistic about economic perspectives than pessimistic. However, the confidence stayed low, being below its average value of plus six.
Gold futures were flat during Asian trade on Tuesday despite speculation on probable Fed easing measures after pessimistic US labour market data. COMEX gold June contract traded at 1,643.55 US Dollars per troy ounce on the New York Mercantile Exchange, retreating 0.02%.
Crude oil futures declined for the second consecutive day on Tuesday after China reported fall in imports thus adding to the global demand worries. From the supply side, the commodity also lost its support as Iran entered negotiations with Western economies to resolve conflict regarding its nuclear programme. Light, sweet crude oil futures for May delivery traded at 102.16 US
Japan's Nikkei Stock Average index fluctuated between gains and losses on Tuesday after the Bank of Japan announced it will stick to current benchmark rate at around 0.0% to 0.1% Central Bank also said it is not planning extra easing policy. Nikkei 225 index traded close to flat giving up 0.09% or 8.24 points and closing at 9,538.02. Sharp tumbled
France's business sentiment stagnated and manufacturing output declined in previous month putting extra pressure on the winner of upcoming presidential election. An index measuring confidence among industry executives remained unaltered at 95 after slipping in February. Factory output dropped 1.2% in February.
China unexpectedly reported its trade balance reached a surplus in March as import grew less than predicted. Imports rose annual 5.3% compared to an expected growth a bit below 9%. Meanwhile the exports surged 8.9% on yearly basis, creating a surplus of USD 5.35 billion in contrast with forecast deficit of USD 3.15 billion.
Hong Kong's stocks declined on Tuesday as investors anticipated Friday's news about disappointing US hiring level and higher than expected China's inflation rate. Hang Seng index tumbled 1.15% or 236.76 points and closed at 20,356.24 . Cnooc Ltd and PetroChina Co lost 2.4% and 2%, following a recent drop in crude prices. Property shares also contributed negatively to index with
Germany unexpectedly posted a second consecutive increase in its exports in February boosted by demand outside European region. Exports added 1.6% in February compared to a 3.4% gain in January, Federal Statistics Office said on Tuesday. Analysts questioned by Bloomberg predicted a decline of 1.2%. German imports soared 3.9%.
The Bank of Japan (BoJ) decided to keep its key interest rate unchanged between zero and 0.1%, spokesperson said on Tuesday. Representatives of the central bank admitted the foreign economies still are contracting but European financial markets start to show signs of stability. Japanese Yen strengthened versus greenback on the announcement.
Dow Jones Industrial Average index tumbled on Monday as data showed US employers created only 120 000 jobs in March compared to an expected gain of 205 000. Blue chip index sank 1.0% or 130.55 points and settled at 12,929.59, first close price below 13 000 since March 12. Bank of America led the drop, giving up 3.3% while Caterpillar