West Texas Intermediate futures were lower by 34 cents to $94.30 a barrel on the New York Mercantile Exchange during Singapore trading session on Thursday. The price of oil edged lower as a government report indicated the biggest U.S. stockpiles since July, 1990. Oil reserves increased by 250,000 barrels and reached 389 million.
European shares were little changed on Thursday following an yesterday's largest advance in a month before a report showed a number of the U.S. unemployment claims and as investors awaited the European Central Bank Monthly Bulletin. The benchmark Stoxx Europe 600 Index declined by 0.1% to 292.98 earlier on Thursday London session.
The South Korean Won advanced by 0.5% to 1,130.76 per U.S. Dollar in the morning trading session in Seoul on Thursday. That was the biggest gain in previous two weeks, as worldwide investment funds spur holdings in South Korean equity markets on easing tension with North Korea. Also, the benchmark for seven-day repurchase rate was left unchanged at 2.75%, while the majority
Rural commodities apart from wheat moved higher on Wednesday amid mixed USDA data. The Waste showed smaller figures for domestic corn inventories but indicated bigger-than-expected global stockpiles. Wheat was the only loser after the USDA report revealed bigger-than-expected estimate for global supplies. World's inventories before this year's Northern Hemisphere harvest are likely to attain 182.26 million metric tonnes compared to
The Australian Dollar dropped by 0.3% to 1.0515 per U.S. Dollar in the second part of Sydney trading session on Thursday. The Aussie slipped against the major counterparts, as the unemployment data indicated an increase to a three-year peak. Labor numbers induce speculation that Reserve Bank will cut borrowing costs to sustain growth.
Energy futures were mixed on Wednesday after the data showed U.S. crude oil inventories reached a 22-year high. Adding pressure, OPEC cut its estimate of global demand growth to 800,000 barrels per day from 840,000 barrels per day. Crude oil inched up despite weak fundamentals. The EIA report showed inventories climbed 0.3 million barrels last week, less than forecast of
Industrial metals were bearish on Wednesday as China's trade data disappointed investors. China's trade balance unexpectedly swung to deficit of USD884 million last month while experts predicted a USD15.4 million surplus. Aluminum retreated on dismal trade numbers from China. The metal also came under heavy selling pressure after Deutsche Bank predicted global production to increase 5.5% this year. Meanwhile, market
The Chile's Peso lost 0.3% to 468.64 per U.S. Dollar in the end of Santiago trading session on Wednesday. The currency slipped the most in two previous weeks, as Finance Minister said that financial intervention is considered as a possibility to curb strength of the domestic currency. The Peso is traded at the highest level in 19 months, close to
U.S. stocks extended their gains on Wednesday, hitting record highs as Federal Reserve officials debated over slowing asset purchases amid improving labour market. The Dow Jones Industrial Average advanced 0.9%, or 128.78 points, to 14,802.24 with a turnover of 6.2 billion shares. All nine industry groups advanced with technology and health care group rallying the most. Merck & Co Inc.
Precious metals retreated on Wednesday as market players continued to reduce holdings of the metals on talks the Fed may scale back its easing measures amid accelerating economic recovery. According to the latest FOMC minutes, board members were divided on when to wind down stimulus. Gold was the worst performer amid broadly stronger U.S. Dollar and concerns the Fed may halt
The Japanese Yen appreciated by 0.2% to 99.59 per U.S. Dollar at midday trading session in Tokyo on Thursday. The currency was lower after touching 99.88 yesterday, the highest level since April, 2009. Market halted a decline, as Japanese traders were sellers of overseas bonds in previous week. They sold 1.14 trillion yen in foreign bonds and notes and purchased
U.S. equity markets rallied, sending the benchmark S&P 500 Index to a new record high, as Japan rehearsed its plans on asset purchase plans to boost the economy, while investors were bullish on the new earnings season results. The S&P 500 Index advanced 1.2% to 1,587.73 points. All ten industries in the gauge climbed with health care and tech stocks
Unemployment in South Korea decreased in the month of March amid a notable growth of new job positions, a report released by the Statistics Korea revealed on Wednesday. The report also said that seasonally adjusted unemployment rate fell from 3.5% recorded in February to a level of 3.2% in March, while the total number of employed people advanced annually by
Trade balance in China came in deficit in the month March as imports surged and shipments out of the country rose at the slower pace, the General Administration of Customs reported on Wednesday. The report said that China's trade deficit was $884 million in March compared to an expected surplus of $15.15 billion, following a trade surplus in February at
Economic growth in most of major economies is picking up, according to a survey unveiled by the Organization for Economic Development and Cooperation on Wednesday, however India's economy is set to slow down further this year. The OECD area's composite leading economic indicator advanced by 0.13% on a monthly basis to 100.5 in February, the same growth like the month
Global merchandise trade is set to expand at the slower rate than preliminary estimated in 2013 as the global demand is reduced by the ongoing economic slowdown in Europe, a data released by the World Trade Organization showed on Wednesday. The report said that international merchandise trade is forecast to rise by 3.3% this year compared to a 4.5% growth
The Japanese currency declined on Wednesday paring its losses against the U.S. Dollar and the Euro after the Bank of Japan's new Governor Haruhido Kuroda said today that the central bank will take all steps in order to meet its inflation target. The Yen declined by 0.1% to 99.12 per U.S. dollar on Wednesday after it dropped to 99.59 yesterday,
The Canadian currency appreciated against its U.S. counterpart for the third straight day on Wednesday amid speculation that more stimulus measures by the Bank of Japan will result in higher demand for cross-border assets. The Canadian Dollar increased by 0.1% to C$1.0157 per U.S. dollar earlier on Wednesday Toronto session, while one so-called Loonie buys 98.45 U.S. cents.
Wheat traded in Chicago decreased for the second day in a row on Wednesday before a monthly crop report released by the U.S. Department of Agriculture showed that world inventories were higher before the 2013 harvest. July Wheat futures declined 0.7% to $7.0875 a bushel earlier on the CBOT as the trading was 7% higher than the 100-day average.
Gold futures traded in New York decreased on Wednesday falling from the highest level in a week amid speculation that demand for the precious metal as a wealth protection may be reduced by improving economic growth. Bullion for delivery in June dropped 0.4% to $1,579.90 an ounce earlier on the New York's Comex after it reached its highest since April
U.S. property prices are increasing on a faster pace than incomes of buyers, when they were 15% higher relative to income in February, suggesting that the house prices may decline in U.S. cities as mortgages will advance and decrease affordability, a study by the Zilliow Inc. showed on Wednesday. House prices in the country gained 10.2% in February, the largest
West Texas Intermediate oil tumbled on Wednesday after increasing for two straight days, as the U.S. report showed that inventories in the country reached their highest figure since 1981. WTI for delivery in the next month slipped 52 cents to $93.68 a barrel on the NYMEX and was traded at $93.84 at 12:46 p.m. in London after it rose 84
U.S Treasuries continued to fall on Wednesday after the Federal Reserve meeting's minutes showed that several members want the central bank to reduce its assets-buying program later in 2013 and stop it by the end of the year. The benchmark 10-year yields increased three basis points to 1.78% at 9:21 a.m. in New York after it dropped to its lowest
Industrial output in Italy fell at the slower-than-expected pace in the month of February, when it dropped annually by 3.8% compared to a 4% slide originally projected, while the overall production slipped 7.6%, the statistical office Instat reported on Wednesday. The report also showed that industrial output declined 0.8% on a sequential basis in February, while it was forecast to