Rural commodities tumbled on Tuesday following the downside of world's equities and global economic instability. Grains followed the bearish trend after the USDA report release that indicated better crop forecasts for this planting season. Wheat was also pressured as USDA announced that global stockpiles topped the highest level in the last 11 years. Corn was the top loser despite strong
Energy commodities ended Tuesday on a negative note as global demand concerns offset supply restrictions from Iran. Weaker equities coupled with pessimistic data from the Euro Zone added pressure to the commodity group. Although China's crude oil imports remained at the record high level, overall fall in China's imports may indicate weaker economic stance of the country. Meanwhile oil prices
Industrial metals fell on Tuesday along with weaker global equities and lingering global economic concerns. Advancing Spanish and Italian debt yields added to worries about the necessity of new bailouts in the region. Moreover, elevating US and China's inventories signaled on the softer demand for base metals from the major consumers. Aluminium mainly traced falling equities while copper continued to
USD/JPY was fluctuating in a wide range during last 114 bars, and has formed a channel down pattern on the 30M chart. The formation has 59% quality along with 81% magnitude.The price was capped 82.54, then bounced off at 81.86 and eased to the support level around 80.61. The Stochastic indicator reached 80% level and is trying to recoil, which
Precious metals were mixed on Tuesday amid negative signs from the Euro Zone. Concerns over the EU recovery were lingered as Spanish and Italian bond yields are growing while France faced no growth in Q1. Investors turned to gold as safe-haven asset after a drop of the US equities and expectation for fresh easing measures from the Fed. Meanwhile gold's
After a drop of 2.5% in previous session, German DAX index rebounded on Wednesday supported by financials and car makers. Declining Spanish and Italian yields amid banking sector upgrade lifted Germany's main stock index. Deutsche Bank rallied 4.5% and Commerzbank jumped 4.8%. Volkswagen also contributed positively, gaining 3.8%, after posting a 15% improvement in worldwide car sales for its VW
After a steep loss of 2.2% on Tuesday, FTSE 100 index recovered on Wednesday lifted by banks as the sector was upgraded. Barclays added 4% after the lender's rating was raised from hold to buy by Investec Securities. Lloyds Banking Group rallied 3.1% and HSBC Holdings added 0.8%. The security company G4S surged 3.3% after Morgan Stanley lifted the stock
Japan's Nikkei Stock Average index traded lower for the seventh straight session on earnings reports amid rising tensions in Spain and Italian debt markets. Nikkei 225 index declined 0.83% or 79.28 points and settled at 9,458.74. Sony Corp fell 4.5% after posting a record loss. Sharp Corp. plunged 3.2% after company reported a record annual loss of JPY 380 billion.
Dow Jones Industrial Average index fell sharply on Tuesday amid uncertainty about 1st quarter earning reports and worries the Spanish yields are approaching critical level. Blue chip index lost 1.65% or 213.66 points and finished at 12,715.93 with 29 of 30 shares closing lower. Alcoa, the US largest aluminium manufacturer dropped 2.9% before its earnings report. However, the company surged
S&P 500 index experienced its worst session this year on Tuesday, mainly affected by worries about forthcoming earnings reports and climbing Italian and Spanish yields. US benchmark tumbled 1.71% or 23.61 points and closed at 1,358.59. Best Buy, the world's biggest electronics retailer, fell 5.9% after its CEO Brian Dunn quit. The supermarket and pharmacy chain Supervalu rallied 15% as
Hong Kong's shares kept falling on Wednesday as Italian and Spanish yields weighed on investor sentiment. Hang Seng index dropped 1.06% or 215.57 points to 20,140.67 with all nine sectors posting losses. Property developers contributed to the negative side of index with Sino Land Ltd giving up 4% and Guangzhou R&F Properties sinking 1.4%. Energy shares Cnooc Ltd and PetroChina
GBP/USD rebounded to 1.5805 after had reached its five-month high at 1.6062, forming a descending triangle formation on the 4h Chart. The pattern has 65% quality along with 55% magnitude in a 56-bar period. The price increased to 1.5886 and may test the pattern's resistance level around 1.5895. The Stochastic indicator recoiled from the 26% level and is trying to reach
US stocks experienced the worst session in 2012 on worries about upcoming earnings reports and surging Italian and Spanish borrowing costs. S&P 500 index tumbled 1.71% or 23.61 points and closed at 1,358.59. Dow Jones Industrial Average fell 1.65% or 213.66 points to 12,715.93 and Nasdaq Composite index plunged 1.83% or 55.86 points to 2,991.22.
Canadian currency declined reaching a 6-week record low against US Dollar on concern European crisis is regaining momentum amid slowing US recovery. The loonie fell 0.7% to CAD 1.0045 on Tuesday, the lowest figure since February 27. Currently USD/CAD is trading at CAD 1.0018.
Alcoa, the biggest US aluminium manufacturer posted an unpredicted profit for the first quarter as aluminium orders surged. Net income dropped 69% to USD 94 million or USD 0.09 per share compared to USD 0.27 per share a year ago, Alcoa said on Tuesday. Analysts questioned by Bloomberg predicted a loss of USD 0.04 per share. Alcoa shares rallied 5.4% after US
The New Zealand and Australian Dollars fell rapidly versus their US peer and Japanese Yen on Wednesday as lingering worries about European debt turmoil curbed demand for riskier assets. Aussie lost 0.6% against greenback to USD 1.0251 and fell 1.6% versus Yen to JPY 82.70 while Kiwi dropped 0.8% versus US Dollar to USD 0.8149 and plunged 1.8% against Japanese
Japanese Yen slightly fell against US Dollar and Euro on investor projections the Bank of Japan may apply monetary easing later in April. Japanese currency lost 0.4% versus Euro to JPY 105.97 and shed 0.3% against greenback to JPY 80.88. Currently EUR/JPY is trading at JPY 105.94 and USD/JPY is trading at JPY 80.86.
Gold futures to be delivered in June modestly declined on Wednesday's electronic trade. June gold slipped 0.2% or USD 4.0 to USD 1,656.70 an ounce while May silver dropped 0.3% or USD 0.09 to USD 31.59 an ounce. Platinum for July gave up 0.2% or USD 2.6 to USD 1,591.10 an ounce whereas copper to be delivered in May advanced
Crude oil traded close to a 8-week record low as reports showed US stockpiles increased. May crude futures slightly climbed during Asian session on Wednesday, adding USD 0.23 to USD 101.25 a barrel. The same contract fell 1.4% yesterday to USD 101.02 a record low since February 14. Brent oil to be delivered in May also gained USD 0.23 to USD
European stock markets traded notably lower on Wednesday day as Spanish and Italian borrowing costs surged on renewed debt concerns. Spanish IBEX 35 index plunged 3% while Italian FTSE MIB index tumbled 5%. French CAC 40 index dropped 3%, German DAX fell 2.5% and British FTSE 100 index lost 2.2%. In contrast Athens General index gained 3.2% on successful bond auction.
Spain's EUR 10 billion austerity measures did not ease investor worries the country is likely to be the next to demand a bailout. The borrowing costs for Spanish benchmark 10-year bills rallied almost 20 basis points to 5.94% on Tuesday after Miguel Angel Fernandez Ordonez, the Governor of the Bank of Spain said the country's financials may need extra capital
Japanese machinery orders unexpectedly surged in February, surpassing all analyst expectations, indicating that accelerating capital spending may support recovery. Orders rose 4.8% compared to a 3.4% gain last month, Cabinet Office said on Wednesday. In contrast economists questioned by Bloomberg predicted a drop of 0.8%.
Precious metals were mixed in thin Monday trade as gold and platinum advanced while silver and palladium retreated. Broadly weaker US Dollar after disappointing US payroll data spurred the commodity group while weaker equities limited the gains. Investors continued to anticipate fresh measures from the Fed as soft labour market returned hopes on more accommodative polices. Gold was the top-gainer
Industry metals traded in bearish trend on Monday amid global demand concerns. Accelerating China's inflation that is likely to put Beijing off further easing measures weighted down on the base metals pack. Moreover, weaker than expected US payroll data also continued to add to the negative mood of the commodity group. However, the trading volumes were thin as the LME