Oil lost 1 percent following the announcement of Iran's agreement to let a nuclear inspection into the country. This will probably ease concerns over Iran's atomic energy programme. June contract for crude oil fell 91 cents to end at USD 91.66. Oil for July delivery tumbled 1.01 percent, to USD 91.85 a barrel. July contract for brent oil lost 53 cents to USD
Sales of existing homes in the U.S. increased by 3.4% in April. Now the annual rate of purchases is 4.62 million. The median price advanced by 10% year-to-year to USD 177,400. The recovery of real estate market has been slow. In 2008 sales amounted to 4.11 million, the lowest level since 1995. Realtors group predicts that this year sales of existing homes may be
Today the Organization for Economic Cooperation and Development forecasted lower growth in the euro area and encouraged policymakers to consider the issuance of Eurobonds. The OECD's latest economic outlook predicts the Euro zone GPD to shrink by 0.1 percent in 2012 and expand by 0.9 percent in 2013. The organization said that fiscal consolidation and structural measures have to be focused on growth in the
U.S. stock futures edged higher on today, as Best Buy, No. 1 consumer electronics chain, shares rose after the company outperformed revenues expectations. Best Buy announced earnings of 72 cents per share. This is by 7 cents more than last year and by 13 cents higher than Wall Street's expectation. This news moved the stock up by 7% to a preopening price of USD 19.39.
On Tuesday Fitch Ratings downgraded Japan's sovereign rating by two notches to A+ from AA. This weakened the Japanese yen and strengthened the U.S. dollar. The ICE dollar index that weighs dollar against a set of six major currencies advanced by 0.41%, to 81.266. The dollar bought 79.91 yen, up 0.75%. The euro gained 0.3% and reached 101.94 yen. However, Adam Cole of RBC Capital
Stocks of the United States have risen, with the S&P's 500 showing the highest rally in a two-month period, after China announced it plans to support economic expansion and officials from France and Germany reassured their commitment to do their best to retain Greece in the Euro zone. Shares, which have risen the most among organisations within S&P 500, are mainly technological and industrial companies;
The US Dollar recommenced appreciation on Tuesday during Asian trading session. The currency is continuing its recent bullish tendency after an unexpected fall on Monday during North American trading hours. The U.S. currency's ICE index, value of the Greenback relative to the basket of its six main counterparts, has risen to the level of 81.07, as Fitch credit rating agency
The Euro zone's currency has appreciated on Monday rebounding from its lowest rate comparing to the US Dollar since the beginning of the year. It was predicted by strategists that more pressure can be expected because of the suspense over Greece's future as a member the Euro zone and worries with respect to the region's banking system. The US Dollar index, which
Brazilian stocks increased this Monday; the gains are helping to compensate the sharp decrease, which occurred last week and was the worst in the period of nine months. Brazil's Ibovespa appreciated by 3 per cent to the level of 56,169, as the consequence of positive tendency in steel, energy, finance and retail stocks. During the previous week the index has fallen from 68
Rural commodities were mostly lower despite persistent worries about impact of adverse weather on grain crops.Wheat was the only gainer along with unfavorable weather conditions in the US, Australia and Russia. Speculation that Russia may impose ban on wheat exports as it did after severe drought in 2010 spurred wheat's rally.Corn retreated from recent highs as traders started to cash
Energy commodities advanced on Monday ahead of key negotiations between Iran and six major economies regarding Iran's nuclear program.Crude oil surged after China's Premier called for more stimulus for the country's economy in view of recent GDP growth forecast cuts.Brent oil moved up ahead of Iran's negotiations as there are no clear indications of the probable outcome. However, rising OPEC
Industry metals followed bullish trend on Monday after China's Premier Wen Jiabo announced that the country needs additional stimulus to boost growth.Aluminum was the only loser despite improved Japan's demand. The metal continued to be affected by global economic uncertainty.Copper managed to climb by more than 1% despite recent slump in China copper purchases caused by elevated inventory levels at
Precious metals were mostly higher on Monday as eased concerns over the Euro Zone's debt crisis bolstered prices. At G8 summit leaders of world's largest economies stated that the EU has to do whatever it takes to keep Greece in the Euro Zone.Gold was slightly higher as hints of more accommodative policy from the Fed and stronger Euro provided fresh
China's leading indicator rose by 0.8% in April, following 0.8% increase in March and 1% increase in February. Although consumer sentiment and bank loans measurements were stronger, decreasing real estate and manuafcturing gauges worry some specialists and force them to review China's growth perspectives for this year. China's leading indicator was first published 2 year ago, May 2010, but successfully
UK's inflation in April was lower than expected and reached 3% on yearly basis. It dropped 50 basis points since march and it was the first time in more than 2 years when yearly inflation was withing government target. Core inflation which does not take in to account more volatile food, alcohol, tobacco and energy prices slowed down by 40 basis points since March
Wheat prices in Chicago Board of Trade are expected to stay high because of adverse weather conditions in the major grain-growing regions such as Russia, the US and Australia. Abnormally high temperatures and drought may harm crops. Currently, wheat futures for delivery in July trade at 6.9325 US Dollars per bushel, inching down by 0.4%.
Asian stocks rose on Tuesday amid increased bargain buying due to lower prices. Moreover, hopes that the EU leaders will help to resolve Greek crisis coupled with possible depreciation of the Yen provided stimulus for stock prices. Hong Kong's Hang Seng Index increased by 1.01% while Australia's S&P/ASX200 gained 0.68%. Meanwhile Japan's Nikkei 225 Index rose by 0.97%.
Gold prices are likely to increase again as market participants consider lower prices as buying opportunity, according to Commerzbank. There is no fundamental justification of recent fall in gold prices taken that Euro Zone's woes still persist and interest rates remain in the negative territory, said expert from Commerzbank. As soon as the yellow metal crosses the psychologically important level
The US Senate has passed a bill aimed at tightening sanctions imposed on Iran to force the country to cease its nuclear program. The new sanctions imply investigation of role of Iran's Revolutionary Guard in oil exports as well as obliging the US companies to disclose any business activities with Iranian partners. The move came ahead of negotiations between Iran
China's leading index expanded by 0.8% to 232.4 in April, indicating the same pace of growth as in March, reported New York Conference Board. The data suggests that the country may avoid hard landing. Analysts expect China's government to announce additional easing measures in the nearest term to boost growth, according to China Securities Journal.
Gold extended previous gains in Asian session on Tuesday as concerns over Greek exit from the single currency union eased. At G8 summit leaders of eighth largest economies stated that they would do everything possible to retain Greece in the Euro Zone. COMEX gold June contract traded at 1,592.35 US Dollars per troy ounce on the New York Mercantile Exchange,
Crude oil rose during Asian session on Tuesday after Wen Jiabao, China's Premier, urged the country to implement more easing measures to stimulate growth. China is the world's second oil consumer thus faster expansion would increase demand for the energy. Light, sweet crude oil futures for July delivery traded at 93.19 US Dollars per barrel on the New York Mercantile
Construction in March, compared to February, increased by 12.4% in the Euro Zone and by 11.8% amid the member states. In comparison to the same month last year the construction increased by 3.8% in the Euro Zone and by 3.9% amongst the member states. Among the countries, for which the data is available, construction increased in 10 and decreased in
S&P 500 gained around 1.2% today, the most since the end of April. Out of 10 groups included in the index, commodity, technology and industrial companies gained the most. Apple and Newmont Mining increased by no less than 3.5% each. Boeing gained 3.3% after Argus Research suggested buying the company. Cooper Industries rocketed by 26% after Eaton arranged to purchase