Gold price remained unchanged ahead of the Federal Reserve meeting that will start on Tuesday; however, the statement of the meeting will be delivered on the Wednesday's second part of the day. Gold futures were little changed at $1,327.40 an ounce, while silver fell 0.38% to $19.790 an ounce. According to analysts, the investors have increased their long positions for
The Australian currency dropped as the Reserve Bank of Australian Governor Stevens said that the inflation level still allows lowering the interest rates. The Aussie slid 1.34% to $0.9081 versus the U.S. counterpart at 5:32 a.m. GMT and it reached the lowest level in two months after the RBA's Governor spoke. The Australian Dollar depreciated 1.39% to A$1.4607 versus the
Euro block's unemployment rate probably remained at a all-time high last month even after the economy recovered from the longest recession since the Euro currency was introduced. The unemployment rate remained flat at 12.2% previous month. The Euro area's economy is recovering on better-than-forecast manufacturing production in July and improved German business sentiment.
The Japanese currency declined, as disappointing industrial output report increased soft retail sales figures, emphasizing the performance of the Japan's economy under increased asset purchase programme. The Japan's Yen dropped 0.45% to ¥98.39 versus the greenback and fell 0.39% to ¥150.81 versus the Sterling, and decreased 0.36% to ¥130.38 versus the Euro.
Asian shares advanced, with the regional benchmark index set for its first increase in five days, after Japan's overseas sellers gained as the Yen declined, offsetting a bigger-than-expected fall in Japanese factory production. The MSCI Asia Pacific Index jumped 0.5% to 133.83. Japanese Topix index rallied 1.6% and the benchmark Nikkei 225 Stock Average rose 1.3%.
The Canadian currency touched the strongest level in one month as crude oil remained over $100 a barrel for the 18th day. The Canada's Dollar advanced 0.1% to C$1.0265 versus the greenback, adding to signs the currency has jumped 2.5% in July against the U.S. Dollar. Crude oil declined 0.2% to $104.52 a barrel.
U.S. stocks declined as a report showed that the number of contracts to acquire previously owned houses decreased 0.4% in June. This reaction signals that macroeconomic indicators currently are influencing markets significantly. The Standard and Poor's 500 lost 0.2% to 1,687.99 as of 10:04 a.m. New York time. The Dow Jones Industrial Average also declined 0.2% to 15,523.47.
Silver prices climbed on large physical demand from Asia. Malca-Amit Global opens a silver vault with a capacity of 200 metric in Singapore. The company says that the number of rich private investors are increasing rapidly in Asia Pacific region. Such investors typically hold silver reserves, while institutions prefer gold. Silver futures gained 0.47% to $19.865 as of 1:47 p.m.
The Canadian Dollar appreciated for a third consecutive day to almost a month-high as oil, Canada's biggest export, was still above 100 dollars a barrel for the 18th straight day. The Loonie advanced 0.1% to C$1.0272 against the greenback as of 8:01 a.m. Toronto time. Economists estimate that the nation's economy grew 0.3% in May from 0.1% the month before.
Treasuries traded flat on Monday before U.S. home sales data and as investors expect many economic news this week. The ten-year bond yield climbed to 2.569%, while yield on five-year note dropped less than basis point to 1.37%. Yield on 30-year note was seen slightly up to 3.626%. The Fed, ECB and BOE have meetings this week and U.S. unemployment
The greenback remained at the same level as Friday's closing price before the opening of New York trading week and before a release of FOMC statement. The statement most likely will show no changes in bond purchases. The greenback gained 0.06% to $1.3269 versus the Euro at 12 p.m., while against the British Pound it appreciated 0.08% to $1.5370. The
The yield spread between 10-year British bonds and German 10-year notes shrank to a one-month low after a report suggested that business lending and mortgage approvals declined in the U.K. In June. Ten-year gilt yield dropped two basis points to 2.32% as of 12:16 p.m. in London, while German equivalents remained almost the same at 13.67%.
U.S. stock-index futures fell, indicating on that the Standard & Poor's 500 Index will snap its biggest one-month advance in almost two years, ahead of nation's house sales data. The S&P's futures expiring in September slid 0.3% to 1,681.7 as of 6:06 a.m. New York time and the equity-benchmark decreased less than 0.1% previous week, paring its longest winning streak.
Indian equities fell for a fourth consecutive day after the chairman of State Bank of India, the nation's largest commercial bank, revealed that the Reserve Bank of India might rise cash reserve ratio and interest rates. The State Bank of India dropped to its 18-month low. The Standard & Poor's BSE Sensex gauge closed at 19,593.28, down 0.8%, in Mumbai.
The Japanese Yen strengthened 0.4% 97.83 per U.S. Dollar, a third consecutive day of gains. The Shanghai Composite Index decreased 1.7%, while the Stoxx Europe 600 Index and S&P 500 futures slid 0.4% and 0.2% respectively. The MSCI Emerging Markets Index slipped 0.6%, a fourth consecutive day of losses.
Brent futures slid below $107 a barrel today on worries over its demand, as well the weakness of Dollar and supply disruption concerns impacted the price. Brent crude fell to $106.98 a barrel at 6:43 GMT, after dropping 48 cents at the Friday's close. U.S. oil slipped to $104.16 after sliding 79 lower in the last session.
Yield on 10-year Italian bonds rose for a fifth consecutive day after an auction of EUR 8.5 billion 6-month government securities. This is the longest streak of declines since September 26. The yield jumped 3 basis points to 4.43% so far today. The yield on similar maturity German bunds were virtually unchanged and traded at 1.67% after an increase of
U.K. shares advanced for the first time in the last three days, with the benchmark FTSE 100 Index bouncing off from its first one-week retreat monthly. The FTSE 100 gained 0.4% to 6,579.45 as of 10:09 a.m. London time; however, the equity-benchmark declined 1.1% previous week, snapping gains for four straight weeks. The FTSE All-Share Index added 0.3% today, while
Chinese authorities will start an audit of country's debt as a part of investigation of threats to financial system and growth in the country. Stocks dropped as the nationwide audit indicated dangers to the economy stemming from local governments' borrowing. Shanghai Composite Index slid 1.7% so far today.
Gold fell after advancing for three straight days as the investors are waiting for the Fed's meeting in few days and it is expected that the officials will give some guidance on monetary stimulus tapering. Spot gold dropped 0.7% to 1,323.96 an ounce at 7:03 GMT, after rising 9% over the past three weeks. The yellow metal price has retreated
Yield on 10-year British government bonds dropped for a third consecutive day after mortgage approvals fell short of expectations as lenders granted 57,667 loans, while experts predicted 59,700. The yield decreased 2 basis points to 2.32% so far today. The gilts lost 2.9% of its value in 2013 through July 26. The Pound appreciated 0.1% to $1.5404, while it traded
Italy's business sentiment advanced in July well ahead of economists expectations. The business sentiment index increased form 90.5 last month to 91.7 this month, overshooting economists expectations of 91. Italian retailer sentiment also increased from 80.9 in June to 82.1 in July, adding to signs it boosted the comosite economic confidence index higher to 79.6 this month.
German bunds remained flat as Italy, Belgium and France will auction 19.4 billion euros of government bonds today. German 10-year bond yield remained steady at 1.65%, after jumping 15 basis points previous week, adding to signs German bunds declined 1.3% this year. The price of the 1.5% note maturing in May 2023 was 98.515.
European shares rose for the first time in the last three days as some major companies posted their results. The Stoxx Europe 600 Index gained 0.4% to 299.98 as of 8:15 a.m. London time; however, the equity-benchmark retreated 0.3% previous week as some companies' results missed the expectations.The index has advanced 5.2% in July after the Fed's remarks.