The Canadian currency dropped for a second straight day after U.S. retail sales showed an increase for a fourth month in a row, fueling speculation that U.S. economy is doing better than Canada's. The Loonie fell 0.4% to C$1.0343 per U.S. Dollar as of 5 p.m. Toronto time and it is also impacted by previous week's unemployment data.
The Sterling remained flat versus the U.S. Dollar ahead of data that analysts said will indicate U.K. unemployment claims plummeted for the ninth month in July. The Britain's currency was at $1.5448 and remained steady at 85.91 pence versus the Euro. U.K. jobless claims fell 15,000 in July and the unemployment rate remained at 7.8% in the second quarter.
U.K. government gilts declined, sending 10-year bond yields to the highest level since October 2011, after data indicating inflation stayed above the central bank's target and house prices climbed curbed demand for fixed-income assets. The benchmark 10-year bond yield added 14 basis points to 2.60% and the 1.75% gilt expiring in September 2022 dropped to 93.195.
Precious metals decreased, as investors sold bullion after it reached the highest price in about three weeks. Gold prices jumped more than 4% on Monday, reaching $1,345, level unseen since the end of July. Old futures dropped 0.29% to $1,330.40 per ounce and silver increased 1.01% to $21.560 per ounce.
The Japan's currency plummeted over 1% against it main counterpart, following the news that Japan's Prime Minister Shinzo Abe is planning a tax reform. The Japan's Yen dropped 1.01% to 97.39 against the U.S. Dollar and slipped 1.05% to 130.27 against the common currency, while declining 0.90% to 150.55 against the Sterling.
European stocks increased as German ZEW economic confidence report rose more-than-forecast to 42.0 points in August, and the Euro block industrial production advanced. The European Euro Stoxx 50 index jumped 0.59% to 2,843.50 and the German DAX increased 0.87% to 8,432.30. The German ZEW economic confidence indicator increased from 36.3 points in July to 42.0 in August.
German investor sentiment rose more than it was forecasted by the economists in August as the nation's economic recovery helped the 17-nation euro area to climb out of recession. The ZEW Center stated that its index, that forecasts investor and analyst expectations in the following six months, increased from 36.3 to 42 in July, it was expected to rise to
The British currency was little changed against the greenback and the 17-nation currency as U.K. house prices increased to the highest level in more than six months in July, fueling speculation that the nation's economy is recovering. The Sterling was at 85.98 pence per Euro by 7:53 a.m. in London after strengthening to 85.79 earlier, while U.K.'s currency climbed at
German government bunds plummeted for the second day ahead of a survey that economists expect will indicate an index of investor sentiment in Germany jumped in August. The 10-year bond yield advanced two basis points to 1.73% and the 1.5% note maturing in May 2023 contracted 0.21 to 97.99. Germany will auction 10-year bonds worth of 4 billion euros tomorrow.
Japanese stocks advanced, with the benchmark Nikkei 225 Stock Average gaining from more than one and a half month low, as the weaker nation's currency boosted exports and Abe weighed on corporate-tax cut. The Topix Index climbed 2% to 1,157.15 at the Tokyo's close, while the Nikkei 225 added 2.6% to 13,867, after reaching its lowest level since June 27
The U.S. Dollar reached the strongest level in about a week against the Japanese Yen ahead of data today that may indicate U.S. retail sales advanced for the fourth month. The greenback jumped 0.6% to 97.47 versus the Yen and remained steady at $1.3308 against the Euro. Analysts expect retail sales to jump 0.3% in July, following a 0.4% increase
European shares rose for a fourth day in a row as the U.S. retail sales and German investor confidence data are awaited. The Stoxx Europe 600 Index appreciated 0.2% to 306.64 as of 8:06 a.m. London time, the strongest level since May 28 and it has gained 9.7% in year 2013 to date, impacted by vehicle and financial-services companies.
The Japanese Yen slipped for the second day as the BoJ posted the meeting minutes which indicated a revised expansion for the economy and the CPI, at the same time Japan's machinery orders dropped less-than-forecast. The Japans currency depreciated 0.51% to ¥97.39 against the greenback and fell 55% to ¥129.57 against the Euro, and declined 0.49% to ¥150.55 against the
The Australian Dollar declined for a second straight day ahead of U.S. retail sales report that may show an advance, fueling speculation that the Fed will soon start to scale back its monetary stimulus. Australia's currency slipped 0.4% to 91.14 U.S. cents at 10:07 a.m. Sydney time, while New Zealand's Dollar depreciated 0.5% to 79.76 U.S. cents.
Gold prices declined from a sharp jump on the previous day, fluctuating near $1,330, while silver plummeted following a 5% rally on Monday. Gold futures advanced 0.02% to $1,334.60 per ounce and silver slipped 0.35% to $21.265 per ounce. Holdings in SPDR Gold Trust remained steady at 911.13 tonnes.
West Texas Intermediate crude oil headed towards a four-day high on expectations the Euro block's economy grew in the second quarter. The September WTI contract increased 0.4% to $106.40 per barrel and the Brent for September delivery declined to $108.13 per barrel, ahead of report this week that may indicate gross domestic product grew 0.2% in the second quarter in
The common currency declined versus the U.S. Dollar, as markets await U.S. report due this week. At the same time investors will watch for any clues from the Fed officials speeches during this week. The 17-nation currency plummeted 0.33% to $1.3296 versus the greenback and slipped 0.15% to 0.8587 versus the Sterling, and advanced 0.20% to 128.59 versus the Japanese
Gold advanced to a one-month high after the greenback's retreat and yellow metal's rise above $1,320 an ounce boosted its demand. Bullion has increased 4.2% from the lowest level in three weeks, when it traded at $1,273.02 an ounce on August 7. The metal for immediate delivery climbed 1.5% to $1,333.94, the highest level since July 31, and traded at
Japan's economy missed the analysts' expectations in the second quarter of the year as the nation's GDP grew an annualized 2.6%, according to the Cabinet Office. For comparison, in the first quarter it rose 3.8% and it was estimated to grow 3.6% in the following three months. The data fueled speculation on whether Japan's economy is stable enough to remain
U.K. shares were little changed, after retreating previous week, as more commodity producers advanced than declined. The FTSE 100 added 0.2% to 6,593.15 as of 8:59 a.m. London time and the equity-benchmark has risen 9.4% since June 24. The FTSE All-Share Index gained 0.2% as well, while Ireland's ISEQ Index climbed 0.4%.
European shares are headed towards the highest level in 10 weeks, namely the benchmark Stoxx Europe 600 Index, after commodities producers increased while utilities declined. The Stoxx 600 inched up about 0.1% to 305.98, while the Standard & Poor's 500 Index futures maturing next month fell 0.3% and the MSCI Asia Pacific Index gained less than 0.1%.
German 10-year government bunds declined ahead of data this week that economists said will indicate the Euro block economy is growing at a faster pace in the second quarter. The 10-year bond yield advanced three basis points to 1.71% and the 1.5% note maturing in May 2023 decreased 0.23 to 98.16. Gross domestic product in the Eurozone jumped 0.2% in
Silver prolonged its four-day jump, rising on positive physical demand and strong report from China, touching the highest level since June 20. Silver futures increased 3.42% to $21.105 per ounce, mainly driven higher by gold, adding to signs silver has plummeted about 30% and the gold retreated almost 25% in 2013.
The Japanese Yen depreciated after a government data that indicated on Japan's economic slowdown in the second quarter of the year, spurring speculation that nation's central bank will have to boost the monetary stimulus measures. The Yen dropped 0.3% to 96.53 per Dollar at 7:58 a.m. in London after reaching 95.81 on August 8, while it fell 0.1% to 128.56