Precious metals swung between gains and losses on Friday session with palladium rising towards the highest levels since August 2011 as strikes in South Africa continue and amid sanctions put on the Russian Federation. Palladium gained 0.2% to $837 an ounce, silver for May settlement traded at $19.0326 an ounce and platinum jumped 0.4% to $1,465.30 an ounce.
Gold slightly gained on Friday trading session shrinking its monthly loss amid signs that the overall situation in the U.S. economy has improved pushing the stock market higher, while China's demand for the metal falls. Gold for delivery in May traded at $1,256.96 an ounce as of 2:22 p.m. Singapore time after it closed at $1,255.56 yesterday.
The U.S. shares closed higher on Thursday trading session with the benchmark stock index Standard & Poor's 500 hitting its new all-time high recording a new record high in three out of last four sessions. The S&P 500 Index gained 0.54% to 1,920.03, the Dow Jones industrial average added 0.39% to 16,698.74 and the Nasdaq Composite index climbed 0.54% to
The U.S. Treasuries declined on Friday with the benchmark 10-year yields rising slightly from yesterday as they traded close to the weakest level since June 2013 amid speculation that the U.S. Federal Reserve may keep the current level of stimulus longer than expected. The U.S. 10-year yields rose from 2.447% to 2.466%.
The U.S. Dollar slightly weakened on Friday session falling against the Japanese Yen and the Euro after a government report showed that the U.S. gross domestic product contracted for the first time since 2011. The Greenback index lost 0.1% and was last seen at 80.456, while the currency itself fell 0.2% to 101.55 yen and was traded at $1.3603 versus
The majority of Asian shares increased in Friday after benchmark stock indexes traded in Wall Street reached new record highs yesterday despite the fact that the U.S. posted its first GDP contraction in a three-year period. The MSCI Asia-Pacific gauge outside Japan rose as much as 0.1%, while the Japan's Nikkei 225 index fell 0.2%.
The Australian Dollar advanced on Friday trading session rising by the most among all major traded currencies after a report showed that industrial production in Japan fell and as the country's companies revised their spending plans. The so-called Aussie advanced as much as 1.0% to the highest level in one-and-a-half-week high at $0.9326.
The Japanese currency dipped on Friday trading session following a notable rally of the Yen after a government data from the country signaled that the Bank of Japan may wait with the stimulus measures longer. The Yen dropped to 138.14 against the Euro after recording a 4-month high, while it slipped to 101.42 versus the U.S. Dollar.
The total number of claims for unemployment benefits in the United States declined significantly during the previous week, adding to sings that labour market will improve further and will be able to turn economy back to rise after a Q1 decline. The indicator slipped 27,000 for the week, which ended on May 24, reaching 300,000. The four-week average plummeted to
Economic development in the United States turned to be negative in the first three months of the current year. Today, the data for GDP advance has been revised to the downside. Previous estimations forecasted the U.S. economy added 0.1% in January-March quarter. However, the new data showed a 1% slump. Economists, in turn, projected the U.S. GDP to decline 0.5%.
Apple Inc., one of the most valuable and biggest consumer electronics companies in the world, decided to acquire the Beats Electronics LLC, which specializes in the production of famous headphones. The acquisition price reached $3 billion, becoming the largest deal for Cupertino-based company. Today, Apple Inc. equities are jumping 0.35% to $626.16 per share at pre-market in New York.
Economic growth in Spain has been confirmed on the level, which was predicted by the initial estimation on April 30. Country's GDP added 0.4% in the first three months of this year on a quarterly basis, up from 0.2% in October-December. Despite the 25% unemployment, one of the main drivers of growth has been the household spending, which was up
The Bank of Japan is planning to cut the 10-year government bond purchases, explaining its actions with the necessity to reach the 6-8 year long-term target of the whole volume of purchases. As expected, the BoJ may start to buy 6-8 trillion yen per month, down from 7+ trillion yen before. It will decrease the purchases from 200-300 billion yen
Mark Carney, governor of the Bank of England, will probably give to his successor a 375 billion-pound ($630 billion) puzzle: which actions should be implemented with accumulated by the BOE during its economic stimulus plan government bonds. Derivatives contracts show that point could be not achieved before Carney leaves in 2018.
West Texas Intermwdiate oil prices decline slightly in Thursday, trading almost on the lowest level in a week, as supplies of crude oil in the United States advanced. Futures with delivery in July trade at $102.84, being little changed from yesterday, when it rose 0.4%. At the same time, Brent prices are more stable at $110.08, as escalation of conflict
Stoxx Europe 600 Index decreased from the highest level since January 2008, as investors are preparing for the data on U.S. Economic growth and unemployment claims. Stoxx Europe 600 Index fell 0.4% or 0.83, including Kingfisher decrease 4.6%, and Tate&Lyle Plc fall 1.3%. The Stoxx 600 gained 8.5% from a February 4, reaching its highest level in more than six
The global bond market surge, as economists predict that governments will continue stimulating growth amid high unemployment and low aggregate demand. Moreover, the support will most likely not cause a rise in inflation. As example, the yields on 10-year Australian and Japanese securities fell to the minimum in 11 and 12 months, respectively, with European and U.S. bond also rising.
The Central Bank of Brazil is planning to resume the key interest rate increases after elections in October, as the annual inflation level in the country still remains far away from the target of 4.5%, being on the 6.31% level. Analysts expect actions to start in December. The main rate is currently 11%. At the same time, recent raises of
Retail sales in Japan fell with the fastest speed in more than 14 years as first consumption-tax was increased in April 1. Japan's retail sales in April dropped 13.7% from the month earlier, the biggest monthly decrease since 1997. Sales in April declined 4.4% from a previous year with falls in all trading sectors including clothing, food and beverages, autos.
The volume of retail sales, taking a significant part of the service sector, which accounts for more than 50% of Norwegian economy, advanced 0.5% in April of the current year in this country. Therefore, the increase take place for the fourth consecutive month. Analysts, in turn, waited for a 0.3% decline, however, the overall volume of sales decreased the pace
Economic growth in Switzerland increased the pace of advance in the first three months of the year 2014, as the GDP added 0.5% on a quarterly basis after a slight 0.2% rise in October-December. Therefore, the country outpaced the Eurozone in terms of growth in Q1. According to the report, exports returned to surge of 2% in January-March, while construction
A significant number of state bonds in Europe jump today, as experts prepare for further stimulus from the ECB, which can be announced the next week. Belgian 10-year bonds' yields plummeted to 1.9%, the record minimum. Spanish securities with the same maturity rise, with yields dropping to 2.86%, while German and Italian yields are decreasing to 1.37% and 2.97%, respectively.
Economy of Denmark returned to advance in the first three months of this year, as domestic consumption added 2% and investment increased. GDP of the country jumped 0.9% quarter-on-quarter after a 0.5% slid in October-December. As expected, the weakest economy of Scandinavia will continue to recover. Moreover, the country still holds the highest credit rating of AAA.
Equities of the biggest European companies decline on Wednesday, as investors evaluate their performance for work in the first quarter, while some of them decreased future profit projections. The benchmark Europe Stoxx 600 Index drops 0.2% to 343.75 points, down from the highest level in six years. Among losers, Elektra AB and Osram Light AG decrease 7.7% and 7.6%, respectively.