The Australian Dollar gained, trimming a 3-day loss, on speculation the interest rates will not decline if a wage report is positive this week. The Aussie strengthened 0.3% from the previous week to $1.0418 and advanced 0.3% to 82.82 yen. Australia's currency touched $1.0480 on November 7, the strongest level since September 21. The kiwi rose 0.3% to 81.60 U.S.
Precious metals were mixed on Friday amid broadly stronger US Dollar and hopes for further easing measures in the US as Barack Obama was re-elected for the second term. Meanwhile, fears over the US fiscal cliff as well as uncertainty over Greece created strong pressure on the commodity group.Gold inched down as solid greenback outweighed speculation that the US will
The Yuan advanced the most since October as report showed the fastest export growth in five months and the central bank raised the reference rate. China's currency rose to the highest level in 19 years, touching the upper limit of the permitted trading band around the central bank's daily fixing. The Yuan gained 0.26% to 6.2291 per U.S. Dollar, the
The Euro traded 0.3% from the lowest level in two months ahead of European finance chiefs' meeting today to discuss a programme to keep Greek solvency. The common currency traded at $1.2731 from $1.2714 on November 9, when the Euro touched $1.2690, the weakest level since September 7. The Euro fetched 101.17 yen from 101.05.
Asian currencies gained throughout this week, as Obama's victory in the presidential election improved the likelihood of increasing the supply for the U.S. Dollar. Chinese yuan has been advancing for 14 consecutive weeks on expectations for government to introduce more monetary stimulus to boost up the inflation. The Taiwan Dollar gained 0.5% this week to NT$29.150 versus dollar, while South Korean won, Thailand's baht and
According to data published by Hellenic Statistical Authority, Greece industrial output dropped in September, retreating from its gain in August. The industrial production index showed the biggest decrease since March and lost 7.3% year-on-year, after a 2.7% rally in August. Manufacturing production slid 6.9%, whereas mining production fell 1%. Meanwhile, utilities supply, such as, electricity and water, were the top losers by tumbling 11.9% and 1.4%.
German shares plunged in risk-off Friday's session. Market players remained cautious amid growing uncertainty over fiscal cliff in the US and worries over whether Greece will receive financial aid. On Friday, German Finance Minister Wolfgang Schaeuble stated that may be too early to grant the next tranche of the bailout to Greece. The DAX Index dropped 1.55% and is currently
UK equities declined, heading for the largest weekly slump in two months amid lingering concerns over the US fiscal cliff. Moreover, rising worries over whether Greece will get a new tranche of the bailout added to losses of the UK equities. German Finance Minister Wolfgang Schaeuble said that it may be too early to grant more aid to Greece. However,
Hong Kong stocks dipped on Friday amid mounting concerns that the government will not implement additional reforms to stimulate slowing economy. The market sentiment was also dampened by on-going worries over the US fiscal cliff. However, upbeat China's economic reports limited losses of the equities. China's industrial production and retail sales growth jumped more than expected in September. The Hang
On Friday, the 17-nation currency hit a 1-month low versus the Japanese Yen, U.S. Dollar amid losses in Eurozone growth prospects and uncertainty over Spain's and Greece's bailouts. The Euro declined by 0.2%, reaching a level of 100.99 Yen. Elsewhere, it fell by 0.1% versus the greenback to trade at $1.2733, which was close to a 2-month low of $1.2717.
Consumer confidence advanced more than expected this month touching the highest level in five years on improving labor market in the U.S. The consumer sentiment index rallied to 84.9 in November, compared with the prior month's reading of 82.6. The index showed the fourth biggest improvement since July 2007, as it was forecast to stay at 82.9 for this month. The sentiment of Americans is
On Friday, British 10-year government notes were growing on speculation that the U.K. central bank will extend its loose monetary policy to stimulate the economy, amid a drop in equity markets. The yield on benchmark 10-year gilts lost 6 basis points and reached a level of 1.71% by 11:05 a.m. in London. 10-year bonds were likely end the week with
On Friday, German government notes were higher, pushing yield to a 2-month low on disappointing data from France, which showed a fall in business confidence and industrial production. The yield on benchmark 10-year bonds slipped 4 basis points to 1.33% by 10:46 a.m. in London. German 2-year bonds witnessed a yield of minus 0.038%, after hitting a level of minus
On Friday, treasuries were advancing on speculation that U.S. lawmakers will not be able to agree on how to avoid fiscal cliff, which can possibly lead to a recession in the country. The yield on benchmark 10-year yields decreased 3 basis points, reaching a level of 1.59% by 6:19 a.m. New York time. During this week, the yield experienced a
The Italy's statistical office reported on Friday that the country's industrial output extended a 13 month long streak of losses. Year over year, Italian industrial production fell by 4.8% in September compared to a 5.2% decline in the preceding month. Analysts, however, expected a more moderate decrease with a reading of minus 4.7%.
The Office for National Statistics revealed on Friday that British construction output fell by 2.6% in the quarter ended September 2012. U.K. construction sector has been experiencing a steady decrease since the third quarter in 2011. A fall in construction was driven mainly by deteriorating private commercial sector, whereas it was offset somewhat by a growth in infrastructure work.
The Cabinet Office reported on Friday that confidence of Japanese consumers shrank for the second month in a row in October. Japan consumer sentiment index decreased to 39.7 on a seasonally adjusted basis from a figure of 40.1 in the preceding month. Analysts, however, expected an even lower reading of 39.5 last month.
The National Bureau of Statistics reported on Friday that Chinese retail sales increased more than expected last month. Year over year, retail sales gained 14.5% in October compared to a figure of 14.2% in the preceding month. Economists, however, expected a reading of 14.4%. Year to date, Chinese sales were by 14.1% higher than during the same period in the
The Stoxx 600 Index is 0.2% lower to 269.98 points in early London trading session on Friday. European equities set the biggest weekly decline since September. Investors are concerned on the Bank of France, Credit Agricole, announcement of a wider loss than analysts' predictions and statement that France economy might contract in the last quarter of this year.
Soybeans futures price was 0.7% lower to $14.9575 a bushel during U.S. trading hours on Thursday. The price reached a three-week low, as the U.S. Department of Agriculture announced, that in the last week of October, soybeans sales dropped by 75% comparing with a previous week due to the demand decrease in overseas markets.
Oil future price for December settlement was only 6 cents higher to $85.15 a barrel during Asia trading hours on Friday. Price was consolidating after 0.6% gain yesterday, when rebounded from the lowest point in four months. Oil price experiences positive changes, as China announced industrial output increase for the second month in October, increasing 9.6% from a year earlier. That signals an expanding China's economy,
Gold spot price advanced by 0.4% to $1,738.19 an ounce in Asia trading session on Friday. The price reached the peak since 19th of October and set the best weekly performance since January. Investors were concerned about the European debt crisis and the prospects of the U.S. QE program, what boosted the price of safe haven assets, especially of gold.
The Yuan was higher by 0.08% to 6.2382 per Dollar in early Asia trading session on Friday. That was a 14th consecutive gain leading to the longest winning period since March 2008. Today markets were positive on China's currency, as inflation data was released and the actual figure was only 1.7%, what is the slowest pace in three years. Therefore, markets speculate on a
Futures on European stocks were slightly changed, as Stoxx Europe 600 Index touched its lowest level in November on reported earnings by European companies, including French industrial company Lafarge SA and luxury-goods company Cie. Financiere Richemont SA. Contracts on the Euro Stoxx 50 Index futures advanced less than 0.1% to 2,482, whereas FTSE 100 Index futures slid about 0.1%.