Japanese shares dipped on Tuesday, halting four-day winning streak as traders booked profits in companies that soared on hopes that opposition party will win next month election. Adding to losses in Japanese equities, the BoJ refrained from new stimulus measures. Experts predict the BoJ to announce fresh easing measures at the next meeting in December. The Nikkei 225 Index dropped
Regardless of growing need for further stimulus, the BOJ resisted to political pressure and did not introduce more monetary measures. The decision on rejecting the plan to stimulate the economy was made, after Shinzo Abe, main opposition's leader and possibly Japan's next prime minister, pledged he would put more pressure on BOJ to ease the currency and rebound Japanese weakening
The Euro reached its highest level in nine days versus the greenback, as the eurozone's ministers meet today to discuss the possible ways on filling the 15-billion euro gap in Greek finances. European shared currency traded at $ 1.2803, after jumping to $ 1.2823. Although Moody's Investors Service downgraded France's top credit rating, the common currency stayed little changed against
U.S. building permits jumped to their highest level in four years in October, showing recovery signs in housing market. According to Commerce Department, housing starts gained 3.6% to 894,000 units on seasonally adjusted basis, reaching the highest rate since July 2008. The experts said that the hurricane Sandy did not have much impact on the data.The Federal Reserve has chosen
Swiss trade surplus widened significantly in October, according to data released by the Federal Customs Administration. The trade surplus jumped from CHF 1.93 billion in September to CHF 2.8 billion in October. However, the exports dropped 7.7% adjusted to year-on-year basis in October, after a decline of 6.4% the prior month. Meanwhile, the imports rose 4.6% year-on- year last month,
Dow rallied on Monday on the US fiscal hopes and better-than-expected numbers from the housing market. However, market players remained cautious as the EU finance ministers are set to discuss Greek bailout terms on Tuesday. The Dow Jones Industrial Average Index soared 1.65% to close at 12,795.96. All companies included in the index advanced. The top-performers were telecommunications and basic
US stocks surged on Monday on rising optimism over the US fiscal cliff. US lawmakers are expected find a compromise on the new US budget till January 1. Moreover, better-than-expected existing home sales last month lifted US equities. The S&P 500 Index rallied 1.99% to close at 1,386.89. All but one sector within the index soared. Technology and basic materials
Farm commodities advanced on Monday as broadly softer US Dollar boosted appeal of the commodity group. Moreover, a recent fall in prices created bargain buying opportunities for the market players. At the same time, weak demand for US supplies and rising production in Brazil weighted down on rural commodities. Wheat rebounded after the USDA reported that only 34% of the
Energy futures apart from natural gas moved higher on Monday, supported by broadly softer greenback and rising optimism over the US budget approval. From the supply side, the commodity group also found support as tensions between Israeli and Hamas militants escalated.Crude oil jumped on brighter demand prospects amid optimism over the US fiscal cliff and signs of the US housing
Base metals soared on Monday on improved sentiment as the US is expected to escape budget clashes and find a compromise on looming tax hikes and spending cuts. At the same time, the upswing remained capped as traders were cautious ahead of Greece's bailout talks due on Tuesday. Aluminum climbed on optimism that the US policymakers will avert fiscal cliff.
Precious metals rallied on Monday amid broadly weaker US Dollar and rising optimism over the US budget. US President Barack Obama reassured investors that he will manage to reach consensus with Congress on new budget. Meanwhile, market players remained focused on escalating tensions in the Middle East and Greek bailout talks.Gold jumped, buoyed by the US Dollar weakness. Moreover, hopes
The Japanese Yen rose from near seven-month low as the BOJ refrained from easing, which tends to debase the currency, and kept policy unchanged amid calls for unlimited easing by the opposition party. The yen gained 0.2% to 81.28 per greenback at 6:57 a.m. in London. It fetched 81.59 yesterday, the lowest level since April 25. The currency rose 0.4%
Canada's Dollar strengthened the most in a month versus the U.S. peer as the IMF considers classifying the Lonnie and Aussie as reserve currencies. The Canadian Dollar gained 0.5% to 99.63 cents per greenback after advancing as much as 0.6%, the most since October 17. The Loonie traded below parity with the U.S. Dollar last week and touched the lowest
Italian industrial orders tumbled in September after advancing in the prior two months, according to data released by the statistical office Istat. The orders dropped 4% in September, after increasing 0.6% and 2.7% in August and July, respectively. Industrial orders have decreased 12.8% compared on annual basis, whereas the industrial turnover tumbled 11% compared with last year's September.
The dollar depreciated against its major counterparts after U.S. lawmakers pledged they would reach consensus on the nation's budget to avoid the so called fiscal cliff. The Dollar index tumbled 0.3% to 81.046, as Barack Obama pledged an agreement would be achieved to avert automatic spending cuts and tax increases. The greenback fell 0.2% to $1.2771 per euro, after declining
U.S. equities gained as the President Barack Obama said he would reach an agreement with lawmakers on the new budget, triggering an increase in the S&P 500 index. The reading rallied 1.4% to 1,379.32, while the Dow Jones Industrial Average surged 1.1% to 12,724.31. The top performers were Lowe's Cos, which added 7.4% on better than expected profit estimates, and
According to data released by the National Association of Realtors, the U.S. existing home sales advanced 2.1% to 4.79 million on seasonally adjusted basis in October, showing better-than-expected results. The existing home sales inventory dropped 1.4% to 2.14 million throughout the last month. "In view of the tightening supply and other improving conditions, many potential buyers who were on the
German blue chips rallied on Monday as concerns over the US fiscal cliff eased after the US President Barack Obama expressed confidence that he will manage to agree with Congress on the new budget. However, the upswing was capped as talks over the Greek bailout are nearing. The eurozone's finance ministers are due to discuss Greek bailout on November 20.
German blue chips rallied on Monday as concerns over the US fiscal cliff eased after the US President Barack Obama expressed confidence that he will manage to agree with Congress on the new budget. However, the upswing was capped as talks over the Greek bailout are nearing. The eurozone's finance ministers are due to discuss Greek bailout on November 20.
UK stocks surged on Monday amid rising optimism over the US budget talks as US President Barack Obama reassured investors that policymakers will manage to agree on the new budget. However, the market sentiment was dampened by looming talks over Greece's bailout. The FTSE 100 Index soared 1.27% to trade at 5,676.63. All but one sector within the index jumped.
Hong Kong shares inched up on Monday on hopes that US will manage to avert the fiscal cliff. On Friday, US lawmakers announced that they believe they will reach a consensus over looming tax hikes and spending cuts. Moreover, an advance in the energy sector also buoyed risk appetite. The Hang Seng index climbed 0.49% to close at 21,262.06. Eight
Japan's leading index, which is designed to measure the economy's direction in months ahead, fell more than expected in September, according to the Cabinet Office. The index decreased from 93.2 in August to 91.6, while initial projection was 91.7. The coincident index that evaluates the current economic activity declined to 91.5 from 93.5 a month earlier. "The bank is concerned that
China's real estate prices were higher in the half of cities in October, comparing with a previous month, indicating that the government will probably refrain from relaxing the restrictions on the property market. According to the government's announcement, the curbs will stay, as the domestic market shows steady sales and mild price growth, and that is exactly what authorities want
Thailand's gross domestic product advanced by 3% in the third quarter from one year earlier, but that was a worse performance comparing with 4.4% expansion in the period through June, according to National Economic and Social Development Board announcement on Monday. Thailand's economic growth slowed as the global economy struggled hurting the domestic export.