Industrial metals followed bearish trend on Wednesday amid worries that the Fed may halt its growth-boosting activities. Stronger greenback coupled with weaker-than-expected data from the US housing market also contributed to the decline. Moreover, subdued buying from China pushed the commodity complex deeper into the red territory. Aluminum declined amid weak US data and worries that the Fed may end its
Precious metals plunged on Wednesday after closely-watched FOMC meeting minutes showed that the Fed may ease or outright stop its bond-purchasing program before initially planned. Pushing the commodity complex lower, the US Dollar skyrocketed after the FOMC report. Meanwhile, market players continued to wait for fresh US data that may result in the Fed's policy changes. Gold plummeted on escalated concerns
German stocks moved higher on Wednesday ahead of the FOMC minutes release scheduled later in the day. German stock market remained well-supported by Tuesday's upbeat reading of German investor confidence indicator. The DAX index added 0.19% and is currently trading at 7,767.24. Only four in nine industries within the index are trading up. Basic materials are leading gains in DAX
UK equities are trading in the positive territory on Wednesday after the latest report showed that more BoE members support an increase in asset purchasing. However, market participants remained cautious ahead of FOMC minutes release due later in the day. The FTSE 100 Index added 0.40% to trade at 6,404.99. Seven out of ten industries rallied. The top-performers were technology
Hong Kong stocks swung to gains on Wednesday after two consecutive sessions of losses. Hong Kong equities tracked gains of the overseas stock markets and improved risk appetite after better-than-expected German investor confidence data. Moreover, property developers bounced off Tuesday's lows thus lifting Hang Seng Index. Hang Seng Index jumped 0.71% to finish at 23,307.41. All but one industry included
ZEW Indicator of Economic Sentiment measuring economic expectations for Germany has climbed 16.7 points in February reaching 48.2 points and has gained 11.2 points to 42.2 in the Eurozone. The respective index evaluating current economic situation has declined 1.9 points and stands at 5.2 points in Germany, meanwhile, in the Euro area situation barely changed and currently is -75.6 points.
Economic sentiment in Switzerland improved more-than-anticipated reaching the highest level since June 2010. The ZEW Indicator rose from -6.9 points in the preceding month to 10.0 points in February, while analysts expected the index to climb by 7.9 points to 1.0. The indicator has overpassed a threshold and reached positive area for the first time since April 2012. Meanwhile, analysts'
Japanese markets closed on the positive note on Wednesday amid upbeat data from domestic economy. Japan's exports climbed more-than-expected last month as exports to China swung to growth. However, the country's trade balance missed estimates in January. Meanwhile, investors continued to anticipate the naming of the new governor of the BoJ. The Nikkei 225 Index reached a 52-week high to
Dow Jones Industrial Average Index rallied on Tuesday, being boosted by strong performance of the broader S&P 500 Index. Pushing the US blue chips higher, German investor confidence improved more than expected last month. Meanwhile, market players remained focused on upcoming FOMC minutes due on Wednesday. The Dow Jones Industrial Average Index climbed 0.39% to close at 14,035.67. Six
US stocks closed higher on Tuesday amid speculation that the number of mergers and acquisitions will soar. Moreover, risk appetite among investors was boosted by upbeat reading of German investor sentiment indicator. The S&P 500 Index added 0.73% to end the session at 1,530.94. All but one industry included in the index jumped. The top-performers were oil and gas as
Soybeans grew to the highest in one week in Chicago on demand from China, the largest consumer of the oilseed, may increase, and on low rainfall in Argentina, the third-largest supplier, may delay harvesting. The contract for May-delivery of soybeans advanced 0.7% to $14.6775 a bushel in Chicago, after reaching $14.70, the strongest level since February 8.
Gold fell for a sixth consecutive session, the longest losing run in almost 4 years, and reached the lowest level since August on the economy recovery decreased demand. Economists expect minutes from Federal Reserve's meeting on January 29-30, published today, and the data on consumer costs and producer prices will show U.K. inflation is under control.The contract for immediate delivery
The Pound declined to the weakest level in 15 months versus the Euro as minutes from this month's Bank of England meeting showed more officials want to increase asset purchases to support the economy. The U.K. currency dropped 0.8% against the Euro and traded at 87.50 pence per Euro, the lowest since October 2011. The Pound depreciated 0.8% against the
Asian shares advanced for a third consecutive day, with the regional benchmark index expanding an 18-month high, on signs that the world's economy is recovering. The MSCI Asia Pacific Index gained 0.9% to 135.30 at 2:02 p.m. in Tokyo following yesterday's close at the highest level since August 2011.Japan's Nikkei 225 Stock Average added 0.8% even after a record trade
The South Korean Won advanced for a second straight day as the nation's central bank Governor Kim Choong Soo said that the country is expected to grow 2.8%, signalling further monetary stimulus are necessary now. The Won inched up 0.3% to 1,078.40 versus the U.S. Dollar at 10:35 a.m. in Seoul, with one-month implied volatility declining 21 basis points to
The New Zealand Dollar declined versus its major peers as the RBNZ Governor Graeme Wheeler said today in Auckland that the central bank is ready to intervene to control currency's level and "smooth the peaks" of the exchange rate. As a result, the kiwi weakened 0.7% to 84.13 U.S. cents at 1:59 p.m. in Sydney and lost 0.7% to 78.66
Rural commodities, excluding sugar, were bearish on Tuesday amid broadly stronger US Dollar and improved weather conditions in the US Great Plains. At the same time, a record number of net short positions in coffee and sugar created an upside potential for softs. Wheat dipped after MDA reported that rains over the weekend in the US Great Plains was above expectations,
Energy futures except for heating oil ended Tuesday's session in the positive area ahead of the EIA report due on Thursday. The commodity group found support on upbeat reading of German investor confidence indicator. However, increased caution ahead of FOMC minutes due on Wednesday and solid greenback cut gains of the commodity complex. Crude and Brent oil traded higher after Enterprise
Industrial metals declined on Tuesday as risk sentiment remained weak despite better-than-expected reading of German investor confidence indicator. Recent data showing that the Eurozone's economy fell into deeper than expected recession continued to weigh on growth sensitive assets. Adding pressure, China's demand may remain weak until March when factories reopen after holidays. Aluminum dived amid elevated LME inventories. LME stocks
Precious metals apart from palladium retreated on Tuesday as investors cashed out from the market ahead of FOMC meeting minutes due on Wednesday. At the same time, broadly weaker US Dollar and speculation that the Fed is likely to prolong its easing measures restricted the downward trend. Gold dropped losing a buying spree from increased physical demand from Asia after the
German shares are trading in the positive territory after better-than-expected reading of ZEW Indicator of Economic Sentiment. The ZEW Centre of Economic Research reported that its index of German economic sentiment jumped by 16.7 points to 48.2 in February, compared to estimates of a 4.3-point gain. The DAX Index advanced 0.78% and is currently trading at 7,688.09. Seven out of
UK stocks are trading higher on Tuesday after upbeat reading of German ZEW Economic Sentiment index. The FTSE 100 Index added 0.41% to trade at 6,343.83. Eight out of ten industries jumped. Consumer goods and financials led gains. Associated British Foods and Reckitt Benckiser Group soared 1.71% and 1.58%, while Standard Chartered and Aberdeen Asset Management rose 3.09% and
Hong Kong shares tumbled for the second consecutive session on Tuesday amid concerns that an increase in property prices will lead to fresh restrictions on the housing market. The National Bureau of Statistics reported that the average home price increased for a fifth month in line in December whereas investment in real estate surged by annualized 16.2%. The Hang Seng
Australian shares traded higher on Tuesday amid mixed earnings results. Meanwhile, uncertainty over whether the RBA will cut rates further this year weighed on stocks. In the minutes released today, the RBA stated it will wait to see more results of its loose monetary policy to decide whether more rate cuts are necessary in 2013. The S&P/ASX 200 Index gained