The greenback remained at the same level as Friday's closing price before the opening of New York trading week and before a release of FOMC statement. The statement most likely will show no changes in bond purchases. The greenback gained 0.06% to $1.3269 versus the Euro at 12 p.m., while against the British Pound it appreciated 0.08% to $1.5370. The
The yield spread between 10-year British bonds and German 10-year notes shrank to a one-month low after a report suggested that business lending and mortgage approvals declined in the U.K. In June. Ten-year gilt yield dropped two basis points to 2.32% as of 12:16 p.m. in London, while German equivalents remained almost the same at 13.67%.
U.S. stock-index futures fell, indicating on that the Standard & Poor's 500 Index will snap its biggest one-month advance in almost two years, ahead of nation's house sales data. The S&P's futures expiring in September slid 0.3% to 1,681.7 as of 6:06 a.m. New York time and the equity-benchmark decreased less than 0.1% previous week, paring its longest winning streak.
Indian equities fell for a fourth consecutive day after the chairman of State Bank of India, the nation's largest commercial bank, revealed that the Reserve Bank of India might rise cash reserve ratio and interest rates. The State Bank of India dropped to its 18-month low. The Standard & Poor's BSE Sensex gauge closed at 19,593.28, down 0.8%, in Mumbai.
The Japanese Yen strengthened 0.4% 97.83 per U.S. Dollar, a third consecutive day of gains. The Shanghai Composite Index decreased 1.7%, while the Stoxx Europe 600 Index and S&P 500 futures slid 0.4% and 0.2% respectively. The MSCI Emerging Markets Index slipped 0.6%, a fourth consecutive day of losses.
Brent futures slid below $107 a barrel today on worries over its demand, as well the weakness of Dollar and supply disruption concerns impacted the price. Brent crude fell to $106.98 a barrel at 6:43 GMT, after dropping 48 cents at the Friday's close. U.S. oil slipped to $104.16 after sliding 79 lower in the last session.
Yield on 10-year Italian bonds rose for a fifth consecutive day after an auction of EUR 8.5 billion 6-month government securities. This is the longest streak of declines since September 26. The yield jumped 3 basis points to 4.43% so far today. The yield on similar maturity German bunds were virtually unchanged and traded at 1.67% after an increase of
U.K. shares advanced for the first time in the last three days, with the benchmark FTSE 100 Index bouncing off from its first one-week retreat monthly. The FTSE 100 gained 0.4% to 6,579.45 as of 10:09 a.m. London time; however, the equity-benchmark declined 1.1% previous week, snapping gains for four straight weeks. The FTSE All-Share Index added 0.3% today, while
Chinese authorities will start an audit of country's debt as a part of investigation of threats to financial system and growth in the country. Stocks dropped as the nationwide audit indicated dangers to the economy stemming from local governments' borrowing. Shanghai Composite Index slid 1.7% so far today.
Gold fell after advancing for three straight days as the investors are waiting for the Fed's meeting in few days and it is expected that the officials will give some guidance on monetary stimulus tapering. Spot gold dropped 0.7% to 1,323.96 an ounce at 7:03 GMT, after rising 9% over the past three weeks. The yellow metal price has retreated
Yield on 10-year British government bonds dropped for a third consecutive day after mortgage approvals fell short of expectations as lenders granted 57,667 loans, while experts predicted 59,700. The yield decreased 2 basis points to 2.32% so far today. The gilts lost 2.9% of its value in 2013 through July 26. The Pound appreciated 0.1% to $1.5404, while it traded
Italy's business sentiment advanced in July well ahead of economists expectations. The business sentiment index increased form 90.5 last month to 91.7 this month, overshooting economists expectations of 91. Italian retailer sentiment also increased from 80.9 in June to 82.1 in July, adding to signs it boosted the comosite economic confidence index higher to 79.6 this month.
German bunds remained flat as Italy, Belgium and France will auction 19.4 billion euros of government bonds today. German 10-year bond yield remained steady at 1.65%, after jumping 15 basis points previous week, adding to signs German bunds declined 1.3% this year. The price of the 1.5% note maturing in May 2023 was 98.515.
European shares rose for the first time in the last three days as some major companies posted their results. The Stoxx Europe 600 Index gained 0.4% to 299.98 as of 8:15 a.m. London time; however, the equity-benchmark retreated 0.3% previous week as some companies' results missed the expectations.The index has advanced 5.2% in July after the Fed's remarks.
The common currency dropped against the U.S. Dollar, as investors await policy meetings from the Federal Reserve, European Central Bank and Bank of England, and Monday's home sales data. The 17-nation currency dropped 0.06% to $1.3269 versus the U.S. Dollar and remained steady at 0.8627 versus the Sterling.
The New Zealand currency retreated after nation's Prime Minister John Key stated that the Kiwi is still overvalued and the officials would appreciate a decline in the currency. The New Zealand Dollar fell 0.2% to 80.71 U.S. cents at 5:13 p.m. Sydney time, snapping its 4.3% climb monthly. The Aussie slipped 0.1% to 92.46 U.S. cents after strengthening 2.3% through
Asian shares declined, with the regional benchmark index set for the fourth day of losses, as the Japanese Yen appreciated and lenders dropped. The MSCI Asia Pacific Index retreated 1.6% to 133.33. Japanese Topix and the benchmark Nikkei 225 Stock Average contracted 3.3%, the biggest falls since June 13.
The Japanese currency rose versus its most-traded peers as Asian stocks fell on worries about growth slowdown in the biggest economy's, spurring the haven asset demand. The Japanese Yen reached 97.64 per Dollar, the highest level in a month, while it climbed 0.4% to 129.92 per Euro, after touching 129.77 earlier. The U.S. Dollar traded at $1.3277 per Euro from
Many U.S. equities declined as session progressed after some companies published disappointing earnings data. Investors are reluctant to take risk before the Federal reserve meeting next week. The Standard & Poor's 500 gauge lost 0.67% as of 1,678.85 at 11:24 p.m. EDT. The Dow eased by 0.79% to 15,432.35, while the Nasdaq Composite dropped 0.41% to 3,590.24.
U.S. Consumer sentiment gauge advanced in July to the highest level since 2007 as economic conditions have improved. The gauge increased form 84.1 in June to 85.1 in July, beating estimate of 84. Survey showed that Americans expect slower growth next year. Low income earners were more positive about future economic prospects than more affluent households.
U.S. equity benchmarks opened lower today as investors look forward to seeing a report on consumer confidence. Several company earnings data will also be published, including Tyco and Weyehaeusern. The Standard & Poor's 500 gauge fell 0.35% to 1,684.21 at 9:31 a.m. EDT. The Nasdaq Composite lost 0.51% to 3,586.94. The sentiment index is projected to climb from 83.9 to
Indian Rupee rises and finishes third weekly advance as the Reserve Bank of India contracted the cash supply to arrest a decline in the currency. The bank set higher interest rates and lender's cash-ration requirement from 70% to 99%. The currency appreciated 0.5% this week, while it added 0.1% to 58.7025 per U.S. Dollar today.
The Japanese Yen rose against the U.S. Dollar after the data showed that inflation in Japan increased the most since 2008, indicating that the central bank might not need additional stimulus to fight deflation. The currency jumped 0.7% to 98.60 per U.S. Dollar so far today after rising 1% yesterday. The Yen climbed 0.7% against the Euro as well to
The Japanese Yen appreciated as a 0.4% increase in consumer prices, the largest jump since 2008, signaled that Japan may stop stimulus. Additional factor for strengthening currency was China's effort to cut production capacity. The Yen advanced 0.6% to 131.03 versus the Euro. Against the greenback, it was also seen up 0.6% to 98.68 as of 10:48 a.m. London time.