The Swiss Franc rose to the highest level in 5 weeks against the U.S. Dollar as investors sought safer investments after a drop in Asian stocks. The currency traded at 92.82 centimes after rising 0.3% to 92.70 centimes earlier today, which was the highest point since June 21. The Franc was virtually unchanged against the Euro and traded at 1.2336
Gold dropped as investors speculated that higher prices will decrease the demand from jewelers. It is expected that if the level of $1,300 does not hold, the prices might quickly sink to $1,265-70 support area. The commodity fell 0.4% to $1,329.31 so far today, while gold futures dropped 0.1% to $1,328.40. Platinum decreased 1.1% to $1,433.61.
The British currency is set for a third straight weekly climb versus the greenback ahead of the next week's U.K. Mortgage data that are forecasted to increase to the highest level since 2008. The Sterling was at $1.5386 by 8:55 a.m. in London and it is headed for a 0.8% climb weekly. The British Pound traded at 86.35 pence per
Italy's 10-year government securities fell for a fourth consecutive day before an auction EUR 3 billion zero-coupon notes, maturing in 2015. Yield rose 3 basis points to 4.43% so far today after it reached 4.44% earlier, the highest point since July 18. Yield on similar-maturity German government bonds declined 2 basis points, while yield on Spanish bonds climbed 1 basis
European stocks rallied and were poised to reach the longest period of weekly gains in 2013 after better-than-expected sales growth data from companies. The Stoxx Europe 600 Index climbed 0.3% to 300.48 after rising 0.7% earlier today. The gauge has appreciated 0.2% so far this week, heading towards fifth week of consecutive gains.
U.K. shares were little changed as the regional FTSE 100 Index is set for weekly retreat, after major companies posted their data. The FTSE 100 gained 0.1% to 6,596.1 as of 8:26 a.m. London time; however, the equity-benchmark has fallen 0.5% weekly, snapping four week winning streak. The FTSE All-Share Index climbed 0.2% today, while Ireland's ISEQ Index slid 0.1%.
Asian shares dropped, with the regional MSCI Asia Pacific Index snapping its longest one-week streak of gains since the beginning of the year. The MSCI Asia Pacific Index fell 0.7% to 135.12 at 3:35 p.m. Tokyo time; however, the equity-benchmark has added 0.2% weekly and it is set for five straight week climb. The gauge has advanced 5.2% this year
Gold is set for the best weekly advance since March as the U.S. economy is recovering and the newest nation's data have confirmed that. Spot gold rose 0.3% an ounce, and was at $1,334.55 as of 8:30 a.n. Singapore time. The yellow metal prices have gained 3% weekly after increasing to $1,348.65 on Wednesday, which was a one-month high.
The Aussie is headed for a second weekly advance in a row versus the U.S. Dollar on bets that the Fed will continue its monetary stimulus programme. The Australian currency strengthened 0.1% to 92.59 U.S. cents at 4:46 p.m. Sydney time and it is headed for a 1% weekly gains. New Zealand's currency traded at 80.77 U.S. cents after rising
The Canadian currency touched its strongest level in four weeks as the Canadian heavy oil's discount compared to U.S. benchmark narrowed, increasing growth forecasts. The Canadian Dollar appreciated 0.4% to C$1.0280 per U.S. Dollar as of 5 p.m. Toronto time, after it reached C$1.0255 per U.S. Dollar, the strongest since June 19. One Canadian Dollar buys 97.28 U.S. cents.
The Dollar Index declined, prolonging a third one-week drop in a row, on bets that at the next Fed's meeting they will reassure that stimulus measures will remain accommodative. The Dollar Index, declined 0.3% to 81.720 at 6:48 a.m. London time. The U.S. currency slipped 0.5% to 98.82 Japanese Yen after reaching 98.63, the lowest since July 11, while it
Gold gained, recovering from losses in previous session, after the greenback weakened. Gold futures climbed 0.44% to $1,325.40 per ounce at 10:145 EDT. Dollar index fell back 0.22% to 82.106, which is relatively low level compared to 84.75, the highest level in three years reached earlier in July. The index and precious metals typically react inversely.
U.S. equities fluctuated today as investors received mixed earnings data and advance in unemployed insurance claims and bookings for durable goods. The S&P index was up 0.1% to 1,686.25 at 110:09 a.m. New York time, ending its two-day losses. The Dow dropped 0.3% to 15,503.73. Facebook soared 25% to $33.24,a 14-month high. The company beat revenue and profit estimates.
Emerging-market equities slid for a second consecutive day and currencies depreciated as commodities fell and investors analyze prospects for a finish for monetary stimulus in the U.S. The MSCI Emerging market gauge dropped 0.6% to 960.49 as of 2:05 p.m. London time. The emerging-nation index has dropped 8.4% since May 22. Russian Ruble weakened 0.4% against the greenback.
Yield on 10-year treasuries reached a one-week high as bookings for durable goods from U.S. increased more than analysts' forecast, fostering bets the economic conditions are good enough for the Fed to begin reducing bond purchase programme. Ten-year bond yield traded at 2.59% as of 8:47 a.m. New York time, while the 30-year return was at 3.65%.
The U.S. Dollar remained stable against the Euro after reports suggested that orders of durable goods climbed in June, while unemployment insurance claims increased in the last week. Versus the 17-nation currency, the greenback remained flat at $1.3208 at 12:31 p.m. GMT. Against the Japanese Yen, it lost 0.41% to 99.81, while the Dollar managed to strengthen 0.22% to 1.5283
The Sterling declined for the second day versus the Dollar after the report indicated U.K. economy expanded in line with economists expectations curbed bets the Bank of England is moving towards ending it bond-buying programme. The Sterling slipped 0.2% to $1.5279 and depreciated 0.1% to 86.32 pence versus the 17-nation currency.
Bookings for durable goods increased more than analysts' expectations in June, indicating higher demand that will foster manufacturing and economic growth in the second half of 2013. Orders for goods lasting at least three years rose 4.2%, mainly driven by transportation equipment, while expected gains was only 1.4%.
European stocks fell by almost the most in three weeks as BASF, the largest chemical company in the world, and ABB published earnings data that were below investor expectations. The Stoxx Europe 600 gauge declined 1% to 298.2 as of 12:06 p.m. London time, the largest loss since July 5. Also the S&P 500 lost 0.5% and the MSCI Asia
Gold continued to decline and reached the lowest level in about three weeks, after recovering in the early morning session, on increasing U.S. housing data released on Wednesday that boosted concerns that the U.S. bond-purchases will soon end. Gold future decreased 0.57% to $1,312.10 per ounce. Spot gold retreated 0.50% to $1,312.41 per ounce.
Japanese Yen advanced against almost all of it 16 major trading partners and falling European and Asian equities push demand for safer assets. The currency appreciated 0.4% yo 99.6 per greenback as of 6:45 a.m. In New York, while versus the common currency, it added 0.5% to 131.75 which was the first gain in three days. The MSCI Asia Pacific
Copper declined for the first time in five sessions, the longest gain since December, amid concern that supply of the copper might exceed demand. Goldman Sachs Group announced that global surplus of the metal might double in two years. Copper for settlement in three month lost 1.4% to $6,953 per ton at 11:06 a.m. on the London Metal Exchange.
Stock prices dropped in Asia and Europe as investors weighted worse-than-expected earnings data from Orange SA, Michelin & Cie and BASF SE. The MSCI world's equity index slid 0.6% to 373.56, while the Standard & Poor's 500 futures decreased 0.6% as well. The Stoxx Europe 600 Index slipped 1%. Crude oil prices and copper lost 0.9% and 1.5% respectively.
The India's central bank is expected to refrain from lowering the interest rates as it puts emphasis on weakening currency. The Rupee fell to the lowest point in history against the U.S. Dollar as it touched 61.21 on July 8. The Reserve Bank of India initiated measures to fight depreciation, which resulted in 1% gains, however, the currency is still