Wheat steps higher as for December settlement price advanced 0.3% to $8.8 a bushel in the end of Asia trading hours on Wednesday. Investors were trading commodities positively, as Barack Obama won re-election bringing expectations that U.S. monetary policy will stay loose. That brings the U.S. Dollar value down and increases the appetite for more risky assets.
Rubber for April settlement was 2.4% higher to 252.5 Yen per kilogram or $3,149 a metric ton in the end of Asia trading hours. Rubber price rebounded from a seven-week bottom, which was reached yesterday, as market closed at 246.6 Yen per kilogram. Together with other commodities, rubber is higher, as Barack Obama won re-election meaning that the U.S. will probably maintain the easier monetary
Futures on U.S. stocks drop on Obama's victory in the elections. S&P 500 futures due in December fell 0.3% to 1,421, after tumbling 1% earlier. Meanwhile, the contracts on Dow Jones industrial average decreased 0.4% to 13.149. However, the equities have surged 3% on average throughout the last two months. In addition, the S&P 500 added 15% since its low level in June, after central
Copper and gold climbed, as oil pared losses on Barack Obama's victory of a second term, boosting speculation that the U.S. will extend stimulus measures. Spot gold rose 0.6% to $1,726.57 an ounce and traded at $1,722.63 at 1:50 p.m. Singapore time. Copper gained 1.3% to $7,798 a metric ton in London, and traded at $7,736.25.
According to the Ministry of Finance, Japan's official reserves declined by $2.84 billion to $1.274 in October. Foreign currency assets amounted $1.196 trillion compared to $1.198 trillion in the previous month, while other foreign currency reserves $27.999 billion, including loans to the Japan Bank for International Cooperation.
Consumer price inflation in Estonia rose in October, after it remained unchanged in the month earlier, according to the data released by Statistics Estonia on Wednesday. The CPI increased 4.1% year-on-year in October, after climbing 3.8% each in August and September. The increase in prices was impacted by food and non-alcoholic beverages prices, which rose 6.3% annually, whereas footwear and
The Canadian Dollar traded up against the majority of its peers on advancing U.S. shares and growing risk appetite for higher-risk assets. The currency is forecast to extend more gains, exceeding its two-week high, as soon as the election is over. The Canadian Dollar surged 0.4% to 99.21 cents a dollar, after rebounding from its lowest level of C$1.0019.
Australia's Dollar strengthened versus the U.S. counterpart amid speculation U.S. President Barack Obama's re-election victory will increase chances of continued monetary stimulus by the Fed, which tends to weaken the U.S. Dollar. The Aussie rose 0.2% to $1.0451, following an earlier drop of 0.2%. The New Zealand Dollar gained 0.1% to 82.78 U.S. cents, after it falls 0.4%.
The U.S. Dollar fell on speculation Barack Obama's re-election victory will increase chances that the U.S. will keep the monetary stimulus measures, which tend to debase the nation's currency. The greenback lost 0.4% to $1.2861 per Euro as of 2:48 p.m. in Tokyo, after earlier rising 0.2%. The Dollar weakened 0.4% to 80.07 yen.
Asian stocks rallied after Barack Obama won the election. The MSCI Asia Pacific Index (MXAP) rose 0.6% on positive gauges of technology, telecommunications and materials companies, whereas futures on S&P 500 index lost 0.3%. The largest Japanese carmaker Nissan Motor Co. gained 4.1%, as orders improved amid Obama being re-elected. Chinese Communist party holds their meeting tomorrow to decide on next leader of the nation.
European Union's financial services chief is worried that if Mitt Romney wins US president elections this would mean "a step back" for the US and world financial markets. He is worried that Republican program is full of temptations to ease up regulations for financial markets which were designed by G-20 and that participation of both, the US and the EU are,
Ten-year gilt yields fell to 1.80%, reaching five-week low, as a report showed U.K. manufacturing grew in September less than expected. U.K. benchmark gilts outpaced German bunds as the Bank of England officials meet tomorrow to take a decision, whether to increase fiscal policy through quantitative easing. Benchmark yields are forecast to reach 2.0% by the end of the year
U.S. equities gained, boosting up the S&P's index for a second day, as today voters decide on the nation's next president. The S&P 500 gained 0.4% to 1,422.24, the Dow Jones Industrial Average surged 0.5% to 13,180.94, while the S&P has rallied 13% throughout the year after central banks started implementing monetary stimulus.
The Dollar weakened against most of its main counterparts ahead of the U.S. presidential election. The Dollar lost 0.1% to 80.24 per yen and was little changed against the Pound. The U.S. main currency advanced 0.1% against the Euro and traded at $1.2810 per euro after reaching $1.2764, the highest level in almost 8 weeks.The Dollar Index, which is the
Eurostat reported on Tuesday that producer price inflation held still in September, in compliance with analysts' expectations. Month over month, producer prices advanced by 0.2% compared to growth of 0.9% in August. Year over year, producer prices increased by 2.7% in September, whereas economists expected that the index would witness a slightly lower reading of 2.6%. In August, producer prices inflation
State Secretariat for Economic Affairs reported on Tuesday that confidence among households in Switzerland held still last month. The SECO consumer confidence index was equal to minus 17 points during the period ended in October 2012, which was unchanged from the figure for the period ended in July 2012. While economists expected that the index would witness a reading of
U.K. manufacturing advanced less than expected in September on a decrease in machinery and chemical production, showing that the economic recovery is losing its momentum. According to the Office for National Statistics factory output gained 0.1% from August, underscoring the economists' gauge of 0.4%. The industrial output lost 1.7% amid a drop in gas and oil output. Six out of 13 manufacturing categories shrank. A rise was
Agricultural commodities excluding wheat plunged on Monday as traders turned their attention to the presidential elections in the US. Meanwhile, anticipation of the USDA crop progress reports that was due after Monday's close also pressured farm commodities.Wheat was the only gainer as US winter crop deteriorated last week amid dry weather and abnormally high temperatures in the US top-planting regions.Corn
Energy futures except for natural gas moved higher despite broadly stronger US Dollar and escalated uncertainty ahead of looming presidential elections in the US. Capping the upswing, demand for oil futures is expected to slow down as refineries in the US Northeast remained closed after Hurricane Sandy.Crude oil added almost 1% despite mounting demand uncertainty. Experts claim that US refineries
Industrial metals plunged on Monday as investors focused on the US presidential elections due on Tuesday. Moreover, weaker-than-expected data from the US and UK services sectors weighted down on the market sentiment. Investors were also cautious as Greece is set to vote on new round of austerity measures to secure the next tranche of the bailout.Aluminum retreated on mounting uncertainty
Precious metals apart from platinum were bullish on Monday ahead of the US presidential elections due on Tuesday. Meanwhile, investors were also cautious as Greece parliament is preparing to vote on fresh austerity measures on Wednesday.Gold rebounded on stronger demand for safe-haven assets amid elevated market turbulence ahead of the US elections.Silver climbed, following gold's suit. However, the upside was
The FTSE 100 Index was up by 0.5% to 5,865.19 in early London trading hours on Tuesday. That was the third time in last four days, as U.K. equity markets advanced, awaited the final outcome of the U.S. presidential election. Also, investors keep focus on the Bank of England and the ECB decisions on the key interest rates and the U.K. monetary policy future
The euro hit a two-week a low against the greenback on the uncertainty about Greece and its budget reforms. The single currency dropped 0.2% to $1.27635 touching its lowest level in 2 months and staying far below its $1.3179 high in September. Latest decrease prompted euro to keep within a trading range $1.27635 - $1.31729. The experts say investors are losing their optimism in resolving
The Pound was 0.2% higher to 79.95 per Euro in a very early London trading session, advancing for a fifth consecutive day. The Sterling has reached the highest exchange rate in five weeks against the European Union currency ahead the Bank of England meeting, where the decision on a domestic quantitative easing policy should be taken. Today's economic reports announced negative data, as house prices