Canadian shares plummeted the most since June, as a fall in gold and silver boosted losses in metal producers and energy companies suffered the biggest fall in eight weeks. The Standard & Poor's/TSX Composite Index retreated 148.90 points to 12,588.02. Crude for September settlement dropped 0.3% to $107.10 per barrel.
U.K. 10-year government gilts increased for the first time in seven days after a declined in shares around the world restored demand for the British fixed-income securities. The 10-year yield plummeted four basis points to 2.71% and the 1.75% bond expiring in September 2022 rallied 0.28 to 92.345. The Britain's FTSE 100 index dropped 0.6%.
European stock markets retreated on concerns that the Federal Reserve will start to scale back bond purchases in the next month. The European Euro Stoxx 50 decreased 1.47% to 2,781.67. German DAX dropped 1.17% to 8,268.14, while the French CAC 40 fell 1.53% to 4,021.33 and the British FTSE 100 slipped 0.60% to 6,427.53.
The 17-nation currency advanced versus the greenback as concerns over the Federal Reserve's bond purchase tapering outweighed the lower-than-forecast expansion in German producer prices. The common currency rose 0.28% to $1.3373 against the Dollar and gained 0.16% to 0.8535 against the Sterling, while declined 0.03% to 130.05 versus the Yen.
German 10-year bunds advanced, sending yields lower from nearly 17-month high, as investors expect Euro block's production report and the Federal Reserve meeting minutes later this week for signals on when bond purchases will be reduced. German 10-year bond yield fell four basis points to 1.85% and the 1.5% note maturing in May 2023 gained 0.375 to 96.875.
Silver future prices declined about 2% in an early trade after investors booked profits as the metal touched the highest level in three months yesterday, as well as the uncertainty over stimulus tapering in the U.S. pushed silver lower. Silver plummeted 1.25% to $22.875 per ounce, after reaching $23.150 per ounce in the previous day.
The Japanese Yen appreciated for the first day out of last three versus the greenback as a decline in shares around the world boosted demand for relatively safe Japan's currency. The Japanese currency gained 0.3% to 97.27 per Dollar at 9:43 a.m. in London after climbing to 95.81 on August 8, the highest since June 19, while the Yen trade
The yellow metal dropped for a second straight day and it is set for the first back-to-back decline in 14 days, as there are worries on Fed's stimulus tapering among the investors and commodity's climb lowered its demand. Spot gold slipped 1% to $1,352.08 an ounce, and was at $1,355.70 as of 2:41 p.m. Singapore time, reversing gains of 0.3%.
European shares dropped for a second consecutive day on speculation that the Fed will scale back its monetary stimulus programme in September. The Stoxx Europe 600 Index fell 0.7% to 302.68 as of 8:05 a.m. London time and it has declined 2.6% since May 22. Standard & Poor's 500 Index futures slid 0.1%, while the MSCI Asia Pacific Index slipped
The Aussie depreciated for a second straight day, after its biggest monthly decline, as the Reserve Bank officials said that the movements of the currency will impact their decisions. The Australian Dollar fell 0.76% to 90.40 U.S. cents at 4:59 p.m. Sydney time, after reaching 90.37 earlier, the weakest since August 8, while the Kiwi slipped 1.2% to 79.69 U.S. cents,
The British currency was little changed against the greenback and the common currency as the nation's officials prepares to sell U.K.'s inflation-linked government debt. The Sterling was at $1.5655 by 7:24 a.m. after climbing to $1.5673 on Monday, the strongest since June 19. The Pound traded at 85.26 pence per Euro after touching 85.05 pence on August 15, the highest
The Canadian currency was little changed ahead of retail sales report that is expected to show a drop and before the release of consumer price index. Canada's Dollar fell 0.1% to C$1.0345 per U.S. Dollar as of 5 p.m. Toronto time after depreciating 0.5% previous week. The Loonie was between C$1.0348 and C$1.0316, making it the narrowest range since the
The 17-nation currency was near the highest level in approximately a week ahead of manufacturing and services report that may support the evidence that Eurozone is bouncing off from a year and a half long recession. The shared currency appreciated 0.1% to $1.3349 at 7:01 a.m. London time, after it reached $1.3380 on August 16, while it fell 0.2% to
The Canada's Dollar remained flat ahead of data expected to indicate retail sales declined and inflation advanced. The Canadian currency was steady at C$1.0331 versus the greenback amid worries the Federal Reserve may start to scale back bond purchases next month. One Canadian Dollar buys 96.80 U.S. cents.
European stocks declined as investors trade carefully before the Federal Reserve posts its minutes on uncertainty over the future of the central bank's stimulus tapering. The European Euro Stoxx 50 decreased 0.81% to 2,831.29, with the Spanish Inditex advancing 0.78% and healthcare Bayer gaining 0.66%.
The 17-nation currency appreciated versus the U.S. Dollar and other counterparts, as the German central bank announced it may base its interest-rate plan on an inflation prospects, signaling the rate hike is possible if inflation overshoots expectations. The Euro jumped 0.23% to $1.3357 versus the greenback and rose 0.14% to 0.8536 versus the Sterling, and rallied 0.80% to 130.95 against
Investors have chosen U.S. shares over emerging markets by the most ever as institutions are relaying on the safety of U.S. equities. The Standard & Poor's 500 slipped 2.1% to 1,655.83 previous week, snapping its advance to 16% yearly, as nation's newest data have supported the bets that Fed's officials will start to taper its monetary stimulus in September. The
President of United States Barack Obama, who started his term in the office during the time, when the previous bubble bursted, wants to be confident that his economic recovery's plan do not create a new one. The president spoke on this topic four times during this month; however, nation's economy is growing at 1.7% and jobs data remain below pre-crisis
The Confederation of British Industry increased its expectations for U.K. economic expansion in year 2013 and 2014 as business and consumer confidence improve and credit conditions strengthens. CBI expects the economy to grow 1.2% this year and 2.3% next year, for comparison, previous prognosis were 1% and 2% projected in May.
Emerging-market shares retreated for a third straight day as Indonesia's current-account deficit reached record high and Thailand's economy fueled worries that capital outflows could accelerate. The MSCI Emerging Markets Index fell 1.1% to 947.83 at 4:03 p.m. Hong Kong time, set for the biggest decline since July 8. At the same time, it was withdrawn $8.4 billion from emerging-market funds
Copper decreased following gains for three weeks in a row as worries that the trading error will further curb sentiment in the Chinese stock market and scaling back bond purchases in the U.S. may dampen demand of industrial metals. Copper for settlement in three months dropped 0.7% to $7,347.50 per metric ton.
Japanese exports climbed the most in three years, supporting nation's Prime Minister Abe's policies and his plan for economic recovery. Exports rose 12.2% compared to previous year after a 7.4% advance in June, while imports surged 19.6%, according to Ministry of Finance. The increase in exports indicates on Japan's economy benefiting from Europe's recovery.
The Sterling appreciated 0.2% versus the greenback, after the CBI updated this year's expansion estimates for the U.K. economy from 1% in May to 1.2%. The Britain's currency added 0.21% to $1.5655 against the U.S. Dollar and gained 0.10% to £0.8514 against the common currency, and climbed 0.41% to 153.03 versus the Yen.
European shares declined with investors expecting the Federal Reserve's minutes due later this week for more signs about the future of the bond purchases. The European Stoxx 50 declined 0.43% to 2,841.98 and the German DAX dropped 0.37% to 8,361.04, while the French CAC 40 slipped 0.47% to 4,104.42 and the U.K. FTSE 100 decreased 0.14% to 6,491.30.