Energy futures rallied on Tuesday on optimism over the US economy. However, forecasts that US inventories rose last week weighed on the commodity group. Adding pressure, analysts expect Saudi Arabia to increase output in the next quarter. Crude and Brent oil gained ahead of the EIA weekly supply report due on Wednesday. Experts expect the report to show an increase in
Industrial metals except for copper declined on Tuesday amid mixed signals from the US economy and elevated inventories at the LME and SHFE. Waning optimism over Cyrus bank deal also weighed on base metals. Aluminum finished lower as inventories remained near a record high. Stocks at LME rose 56,950 last week, while those at SHFE reached a record of 505,371
Precious metals apart from palladium moved lower on Tuesday amid weaker US Dollar and fading support from instability in Cyprus. Meanwhile, speculation that US economic recovery will mean an end to the Fed easing measures weighed on the commodity sector. Gold was bearish as Cyprus bailout deal continued to dampen safe-haven appeal of the precious metal. Sending the yellow metal lower,
Japanese equities declined on Tuesday amid worries that Cyprus international bailout plan will evoke losses on bank deposits in other European countries. In addition, exporters pared losses, as the Yen depreciated against its major peers after BOJ governor announced further steps for monetary easing. The Nikkei 225 Index dropped 0.6% to 12,471.62. Konica Minolta Holdings Inc., a lens maker that
U.S. home prices advanced at the fasted rate since June 2006 matching economists' expectations in January, a report released by the Standard and Poor's unveiled on Tuesday. The report showed that the S&P/Case-Shiller 20-City Composite Home Price Index gained 8.1% annually in the first month of 2013 compared to a 6.8% jump in December 2012.
Business confidence among small scale companies in Japan rose for the fourth month in a row in March with the small business confidence index growing by 3.7 points to 49.7, a data released by the Shoko Chukin Bank showed on Tuesday. The report said that confidence in manufacturing sector jumped by 3.5 points to 48.3 and in non-manufacturing sector it
U.S. manufacturing sector improved in February as new orders for durable goods advanced by more than preliminary forecast on the month cause by the bounce- back of transportation sector orders, the Commerce Department reported on Tuesday. U.S. durable goods orders increased 5.7% in February after it dropped 3.8% the month before compared to a 3.5% gain initially estimated.
Hong Kong equities were up on Tuesday as better-than-expected corporate earnings offset rising concerns over Cyprus bank crisis. The Hang Seng benchmark Index advanced 0.3%, or 59.93 points, to 22,311.08. Six out of nine groups in the gauge edged higher. Henderson Land, Hong Kong's property developer, rallied 5.5% to HK$52.75 after releasing its year-on-year profit data that was 28% higher
Coffee futures traded in London decreased and those traded in New York were little changed on Tuesday giving a sign that world supplies of the commodity will be sufficient on rising shipments from Vietnam and adequate Brazil's output. May Robusta coffee futures traded on NYSE declined 0.6% to $2,106 a ton earlier on Tuesday London session, while Arabica coffee for
Gold futures traded in London decreased for the third straight day on Tuesday amid speculations that the new Cyprus bailout plan will curb the demand for the metal as a wealth protection. March gold futures dropped 0.5% to $1,596.43 earlier on Tuesday in London, while gold for delivery in June slipped 0.6% to $1,597.30 on New York's Comex.
U.S. Treasuries fell on Tuesday pushing the benchmark 10-year yields close to its highest level in eleven months before the nation is ready to sell two-year notes of a total value of $35 billion today in the first of three auctions this week totalling $99 billion. 10-year yields added 0.01 percentage point to 1.94% earlier on Tuesday in New York.
Copper traded in London increased on Tuesday on speculations that U.S. manufacturing sector is improving before a report showed that the nation's durable goods orders rose by 3.9% in February recording its highest level in five months. Copper for March delivery advanced 0.2% to $7,635 a metric ton earlier on Tuesday London session.
Most U.S. blue chips fell on Monday amid concerns that the banking crisis in Cyprus will induce losses on deposits held in other banks of Europe. Shares dropped after Jeroen Dijsselbloem told press that when struggling banks need rescuing, the Eurozone policy makers will turn to the shareholders, bondholders and uninsured depositors of banks to fund their recapitalization. The Dow
Emerging-market shares advanced for the second straight day on Tuesday as a respond to an advice of brokerages to buy stocks in Thailand and South Korea amid concerns that Chinese economic performance might be curbed by the government efforts to cool prices of properties. The MSCI Emerging Markets Index gained 0.4% to 1,025.98 at 4:27 Hong Kong time.
Majority of European stocks increased on Tuesday before the U.S. data reported that durable-goods orders may advance and sales of new houses stayed at the highest level in four years in February. The Stoxx 600 Europe Index rose by 0.1% to 293.59 earlier on Tuesday London session as three out of five shares climbed, following a 0.3% decrease recorded yesterday.
Japan's government bonds increased pushing 10-year and 20-year yields to its lowest levels in almost ten years on Tuesday after the Bank of Japan's governor Haruhiko Kuroda said he will take steps to influence the so-called yield curve through purchases of long-term assets. 10-year benchmark yields hit its lowest level since June 2003 at 0.525% and 20-year rate closed at
German government 10-year bonds dropped on Tuesday pushing the yield up after it reached its lowest level in twelve weeks before auctions of Dutch and Italian government notes. German 10-year bund yields rose two basis points to 1.35% earlier on Tuesday after the rate declined to the lowest level since January 2 at 1.33% yesterday.
The British Sterling advanced to the highest level in a four-week period against the U.S. Dollar before an industry report unveiled that retail sales in the U.K. increased in the month of March. The Pound appreciated 0.1% to $1.5185 earlier on Tuesday London session after it reached its highest figure in four weeks at $1.5269 and it was changed at
West Texas Intermediate oil was little changed on Tuesday and traded near its highest level in a five-week period as U.S. crude inventories advanced after domestic production maintained at the highest figure in two decades. May WTI futures were traded at $94.88 a barrel on NYMEX, while Brent oil for May delivery dropped 40 cents to $107.77 a barrel on
The Canadian Dollar, also known as the loonie, appreciated by 0.2% to 1.0213 per U.S. Dollar in the end of Toronto trading session on Monday. The loonie gained versus the majority of counterparts, as crude oil, the largest export of the nation, increased to the highest point in one month.
The Japanese Yen dropped by 0.1% to 94.22 per U.S. Dollar and slipped 0.2% to 121.28 versus Euro in the very early morning of London trading session on Tuesday. The Yen was on a slide, as Haruhiko Kuroda, the Bank of Japan Governor, outlined possible monetary easing alternatives to achieve a 2% annual inflation target. Also, market speculates about policy
Slovenian industrial output dropped in the month of January mainly due to an annual 17.6% fall of mining and quarrying output and a 2.5% decrease in manufacturing production, a report released by the Statistical Office of the Republic of Slovenia showed on Monday. Year-on-year, industrial production tumbled 1.8% in January and it slipped 0.2% on a sequential basis in the
Industrial production in Taiwan decreased at the faster pace than originally predicted in February recording its first annual drop since June 2012, a data released by the Department of Statistics of Economy Ministry showed on Monday. The data said that industrial output shrank 11.45% on an annual basis in February following a 19.05% gain in January.
Rural commodities were mixed on Monday amid unfavorable weather conditions in Brazil and expectations of lower US gains inventories. Meanwhile, cold and wet weather in the top growing areas in the US may slow early grain planting. Wheat retreated after the data showed that crop rating in Oklahoma rose to 25% good or excellent as for Sunday compared to 24%