UK shares advanced on Monday amid optimism over Greece as the country passed budget cuts last week. However, an upward trend remained capped ahead of euro-area finance ministers' meeting later in the day. The finance ministers have to agree on EUR31.5 billion in loans to indebted Greece. Moreover, persistent worries over the US budget clashes weighted down on the UK
On Monday, the 17-nation currency was traded lower versus the greenback, on upcoming meeting of Eurozone finance ministers to discuss further aid for Greece. EUR/USD hit a session high of 1.2739 and later consolidated at 1.2713, which was a 0.04% gain for the European morning trading session. The support was likely to be at 1.2689, while resistance was prone to
On Monday, the Euro advanced versus the British Pound, following an approve of Greek austerity program, but gains seemed to be capped by an upcoming Eurozone finance ministers meeting. EUR/GBP hit a session high if 0.8012, and later consolidated at 0.8010, which was a 0.19% growth for the European morning trade.
Japanese machinery orders tumbled more than forecast in September, one more indicator signaling that the Japan's economy is falling into recession on disagreements with China and declining domestic demand. Current account surplus, one of the main indicators tracking the nation's well-being, also slipped paring with a slump in exports. According to government data on Thursday, core machinery orders also plummeted 4.3% in September, while analysts had
On Monday, the Cable was traded lower versus the U.S. counterpart, hitting a 2-month low, on growing uncertainty over Greek bailout. GBP/USD hit a session low of 1.5866 and later consolidated at 1.5874, which was a 0.14% decline for the trading session. The pair's support was likely to be found at 1.5826, whereas resistance could be at 1.5943.
On Monday, copper fluctuated in a tight range during European morning trading hours, as uncertainty over Greece's bailout was undermining the demand for the metal, while optimistic Chinese data was supporting it. On the Comex, December delivery futures inched up 0.15%, being traded at $3.450 per pound. Earlier, it hit a session low of $3.430 and a session high if
On Monday, British government notes were traded higher, as an upcoming report on inflation is widely expected to show an increase in U.K. prices, which may trigger further round of loose monetary policy. The yield on benchmark 10-year bonds declined 2 basis points, and reached a level of 1.72% by 10:38 a.m. in London.
Spanish bonds were lower on Monday, amid an upcoming meet of finance ministers to discuss Greek debt crisis. The yield on benchmark 10-year government notes inched up by 5 basis points, reaching a level of 5.875% by 11 a.m. in London. Earlier, the yield on the bonds hit 5.88%, which was the highest level since October 11.
Hong Kong shares moved higher on Monday despite weak economic data release and fading hopes for easing measures in the country. China's new yuan loans issued in October declined by 14% on an annual basis, indicating that downside risks still persist. The Hang Seng Index added 0.21% to close at 21,430.30. Six out of nine sectors gained. The top-performers were
Japanese equities started the week in a red territory on weak data from the national economy. Japan's GDP contracted by 0.9% in Q3, indicating the first decline in three quarters. Moreover, trade between Japan and China dropped by annualized 2.1% in the first 11 months of the year. Solid Yen as well as worries over the US fiscal cliff also
Dow climbed on Friday amid positive signals from domestic economy. US preliminary consumer confidence jumped more than expected this month. Mounting hopes for continuation of stimulus measures also pushed the US blue chips index higher. However, the upswing remained capped by concerns over the US fiscal cliff and Greek budget vote. Meanwhile, investors were also cautious ahead of the Chinese
US stocks rebounded on Friday amid upbeat US data. US preliminary consumer sentiment surpassed forecasts this month, attaining five-year high. At the same time, fading hopes that a leadership change in China will result in more stimulus measures weighted down on US equities. Moreover, worries over looming US fiscal battles and Greek budget vote weighted down on the US shares.
The Ministry of Statistics & Program Implementation reported on Monday that Indian consumer price inflation advanced last month. India's CPI was equal to 9.75% in October, having the year 2010 as a base. A preceding month's reading was slightly lower at the level of 9.73%. Inflation in rural area was higher than in urban, with the levels of 9.98% and
The Federal Statistical Office reported on Monday that wholesale price inflation increased its pace to the fastest in 11 months in October. The wholesale price index grew to an annualized 4.6% last month compared to a figure of 4.2% in the preceding month. Analysts, however, expected that prices would gain even more and the index would reach 4.9%.
Gold futures edged higher on Monday, November 12, reaching three-week high, amid growing uncertainty over Greek's bailout plan and U.S. fiscal woes. Gold for December settlement added 0.19% to $1,734.20 an ounce, after jumping 3.3% during the previous week. Other precious metals were mixed, as December silver rose 0.05% and January platinum soared 0.53%. On the contrary, copper and palladium with December contract eased up 0.02%
The world's leading credit rating agency Moody's said on Monday, that Australia's triple A credit rating is able to survive a contraction of country's mining industries and lower commodity prices, which will definitely hurt Australia's government budget. Iron and coal make around thirty per cent of Australia's exports, which is tightly related with China, which is also experiencing uncertainty about
Dutch trade surplus was €0.4 billion lower from the last year to €3.6 billion in September, the Netherlands Bureau of Statistics announced on Monday. Export of goods slipped by 1% to €35.1 billion in one month on the annual basis, but the shipment volume increased by 2% comparing with a previous year. Imports rose by 1% to €31.5 billion with
Crude oil futures for December settlement were 14 cents lower to $85.93 a barrel during Asia trading hours on Monday. The price consolidates after the last two days gains, as the recent data showed that China's export growth and oil purchases reached the highest level in the last five months. However, markets are also concerned about the Japan's economy, as
The Stoxx 600 Index dropped 0.2% to 269.73 points in early London trading session on Monday. Equity market were slightly changed after the Greece parliament approved the country's next year budget, but ,however, euro-area ministers have a meeting this evening in Brussels, where the agreement on the fresh 31.5 billion euros loans to Greece will be the main issue.
The yen lost against the majority of its trading peers, as GDP data showed Japan's economy shrank in the third quarter. The currency was gaining versus euro the last three days after the BOJ showed its position of remaining distant from Japan's target of 1% inflation. The yen eased 0.2% to 101.26 per euro, surging from Friday's 101.05. The Japanese currency stayed little changed at 79.51
Farm commodities apart from sugar dropped on Friday amid broadly stronger US Dollar and upward revisions of the global crop estimates. Meanwhile, global economic uncertainty continued to weight on demand prospects.Wheat was the top-loser after the USDA raised its forecast on the US ending stocks to 1774.18 million tonnes, above market consensus. However, an expected drop in Ukraine exports limited
Japan's economy shrank in the three months through September as anti-Japan protests in china and world economic slowdown hurt nation's export, whereas domestic consumption was subdued. GDP shrank an annualized 3.5% in the third quarter, putting pressure on the government to add stimulus measures to prop up economic growth.
Energy futures except for natural gas extended gains on Friday amid positive US data releases. US preliminary consumer confidence reading beat forecasts, reaching five-year high. Moreover, slightly better-than-expected Chinese industrial production data lifted the commodity group. Crude oil rallied as positive US consumer confidence data fuelled hopes for stronger energy demand. However, broadly stronger US Dollar as well as persistent
Asian stocks declined, with the regional benchmark index set for the lowest close in a month, after Japan's economy contracted. The MSCI Asia Pacific Index fell 0.2% to 121.06. Japan's Nikkei 225 Stock Average declined 0.7%, as data showed GDP contracted an annualized 3.5% in Q3. Australia's S&P/ASX 200 Index slipped 0.1%, South Korea's Kospi Index slid 0.3% and Taiwan's