Industrial metals were mixed on Friday amid global economic data releases. The trade balance in the Eurozone expanded more than expected last quarter, while US industrial production declined 0.1% last month compared to a forecast of 0.2% increase. Aluminum continued its rally on hopes for stronger global demand. Norilsk Nickel expects the world's aluminum production to climb 2% to 4%
Precious metals plunged on Friday amid speculation that the Fed may stop its easing measures soon. The Fed Chairman Ben Bernanke stated at the G20 meeting that despite high unemployment the US economy is recovering. Adding pressure, Ben Bernanke's comments sent the US Dollar higher. Gold finished the week on the negative note on concerns that the Fed may end its
German stocks are trading in the negative area on Friday as market sentiment remained under heavy pressure after dismal GDP reading on Thursday. German economy contracted 0.6% in the final quarter of 2012, while analysts expected GDP to shrink by 0.5%. However, losses were capped by upbeat reading of the Eurozone's trade balance. The trade balance of the Eurozone unexpectedly
UK equities are trading lower on Friday as market players are cautious before the outcome of a G20 meeting. Pushing shares lower, UK retail sales unexpectedly declined last month. Retail sales slumped 0.6% in January, compared to a forecast of a 0.5% increase. The FTSE 100 Index slid 0.07% to trade at 6,322.92. Four industries climbed, with technology and telecommunication
Hong Kong shares moved higher on Friday despite broad weakness across Asian stock markets and dismal data from the Eurozone. Meanwhile, trade was subdued as mainland's markets were closed for Lunar New Year holiday. The Hang Seng Index added 0.13% to close at 23,444.56. Six out of nine industries included in the index were bullish. The top-performers were consumer services
The Russian Ruble depreciated by 0.2% to 34.6891 versus the basket during Moscow trading session on Friday and was close to the highest level in two months. The Ruble retreated form the zone, where the central bank should intervene to ease currency's gains. The increasing oil prices push the Ruble up, what makes the central bank to buy foreign currencies:
The Norwegian Krone slipped by 0.6% against Euro and 1.4% versus U.S. Dollar as Governor Oeystein Olsen said that Norges Bank might cut the key interest rate to ease the Krone gains. The Krone gets too strong and pushes inflation down, what is negative for the domestic economy, thus the central bank is ready to lower rates to ease the excessive Krone gains and
The Stoxx Europe 600 Index was lower by less than 0.1% to 287.61 points in early London trading session on Friday. The gauge is ahead to set a 0.1% weekly gain. Market performance is mixed after earning announcements, as PPR SA reported better than expected profit and stock advanced more than 4% and Aker Solutions ASA was lower by 7.1%
Dow closed slightly lower on Thursday after disappointing Eurozone's data. Limiting the downswing, US labour market numbers came better than expected. US jobless claims dropped to 341,000 last week, while Eurozone's GDP shrank 0.6% in Q4 of 2012, compared to a forecast of a 0.4% decline. The Dow Jones Industrial Average Index edged lower 0.07% to close at 13,973.39. Only
Japanese shares were bearish on Friday as investors shunned riskier assets ahead of a G20 meeting scheduled to start on Friday. Moreover, market players were cautious after Japanese PM Shinzo Abe said he is close to naming a new governor of the BoJ. The data released on Thursday, showing a larger-than-expected contraction in the Eurozone's GDP, also dampened the market
The Mexican Peso depreciated 0.1% to 12.6958 per U.S. Dollar in the end of Mexico City trading session on Thursday. The Peso dropped on a negative data form Europe, as the European economy contracted more than economists predicted and damped the economic outlook for the global growth. The Peso was indifferent with the U.S. jobless claims, which dropped by 27,000.
US stocks were steady on Thursday, balancing between better-than-expected US jobless claims numbers and dismal data from the Eurozone. Market players were also cautious ahead of a G20 meeting due to start on Friday. The S&P 500 Index inched up 0.07% to end the session at 1,521.38. Six industries posted gains. The top-performers were oil and gas as well
Wheat futures for May settlement advanced by 0.6% to $7.4475 per one bushel on Chicago Board of Trade during Singapore trading session on Friday. Wheat advanced, but still was ahead to set a fourth weekly drop in a row. Market was trading negatively on U.S. export sales data, which indicated more than doubled volumes as the lowest prices in last
The MSCI Asia Pacific Index was lower by 0.2% to 133.56 points during Asian trading session on Friday. Japanese equity slipped leading by banks and exporters, on speculation that Group 20 will express concern on the Yen's depreciation. The Topix Index, one of the main Japanese equity benchmark, was erasing a 13-week gains, the best winning streak since 1973.
The British Pound was higher by 0.2% to $1.5523 in early London trading session on Friday. The Sterling erased a two-day decline, when reached the lowest point since July 26, 2012. Market waited for a report on the U.K. retail sales data and, according to economists estimation, sales increased by 0.5% following a 0.1% decrease in December.
Crude oil futures for March settlement were lower by 14 cents to $97.17 on the electronic New York Mercantile Exchange during Singapore trading session on Friday. Prices are higher by 5.8% higher from the beginning of this year and oil is headed to set a ninth weekly increase in last ten weeks. Oil is traded positively on increasing interest for the
Farm commodities were bearish on Thursday amid ongoing concerns over ample global supplies and improved weather conditions in the US Great Plains and South America. Weak risk sentiment after disappointing Eurozone's figures as well as firm US Dollar also sent the commodity group lower. Wheat slid as expected snow in the US Great Plains removed a supply risk premium. However,
Energy futures except for natural gas edged higher on Thursday on speculation that OPEC may reduce its output by 1% this month amid tightening supplies from Saudi Arabia. However, weak data from the Eurozone capped gains of the commodity sector. Crude oil moved higher on hopes the OPEC will cut its supplies this month. Adding to gains, US crude oil inventories
Asian shares declined, with Japan's Topix Index set to halt its longest weekly gains in 40 years, as the Yen strengthened and profit reports from Rio Tinto Group and Trend Micro Inc. disappointed investors. The MSCI Asia Pacific Index fell 0.3% to 133.47 at 1:31 p.m. in Hong Kong. Nikkei 225 Stocks Average slipped 1.2% and Australia's SP/ASX 200 Index
The New Zealand Dollar reached the strongest level in more than two years versus the Australian counterpart as the smaller country's retail sales topped economists' expectations, boosting speculation the central bank will increase interest rates. The kiwi fetched NZ$1.2181 per Aussie after rising to NZ$1.2143, the strongest level since July 2010.
Base metals were mixed as risk appetite weakened amid escalated concerns over deepening Eurozone's recession. Putting additional pressure on the commodity complex, weak Eurozone's data pushed the US Dollar higher. Meanwhile, market activity remained subdued as China's markets are closed for Lunar New Year holiday. Aluminum closed near one-month high amid brighter demand prospects. Norilsk Nickel, the third biggest aluminum producer
Precious metals ended Thursday's session in the red territory amid concerns over deepening recession in the Eurozone. The data showed the Eurozone's GDP contracted 0.6% in Q4 of 2012, compared to a forecast of a 0.4% decline. At the same time, signs of strong physical demand limited losses of the commodity sector. Gold dropped after the latest data from the World
The South Korean Won remained stronger this week among Asian currencies on speculation the region's leaders will opt out reining in foreign exchange rates as Japan's Yen rose ahead of G20 meeting. The Won gained as much as 1.7% this week to 1,077.80 per greenback, while Philippine's Peso and Malaysia's Ringgit climbed 0.2% and 0.1% respectively.
The Japanese Yen strengthened before the G20 meeting and amid speculation who will be chosen as the BOJ Governor, with Toshiro Muto being the leading candidate. The Yen climbed as much as 0.6% to 92.31 per U.S Dollar at 1:40 p.m. Tokyo time after rising 0.6% a day earlier. The currency climbed 0.7% to 123.30 against the Euro.