Industrial metals apart from nickel tumbled on Thursday on weak manufacturing PMI data from the US and Europe. The US and Europe reported that PMI numbers were slightly higher this month but remained below 50, level that separates contraction from expansion. Broadly stronger US Dollar also weighted down on the commodity group. Aluminum retreated on weak fundamentals. Slight increase in PMI
Oil futures advanced on Friday, with most commodities gaining amid declining U.S. Dollar. October-delivery crude surged 0.7% to $93.04 per barrel in New York, the rise cut oil's weekly fall to below 6%. October-delivery heating oil rose 0.4% to $3.10 per gallon, while natural gas for the same month added 0.7% to $2.82 per million Btu. The ICE Dollar Index
Precious metals except for silver dropped on Thursday despite weak US labour market data and softer manufacturing figures from Eurozone. Broadly stronger US Dollar coupled with weaker global equities created pressure on the commodity group. Gold extended previous losses amid solid greenback and fading boost from stimulus measures in the US and Japan. Silver was the only gainer on mixed data
Wall Street fell modestly on Thursday after economic reports from the U.S., China and the Eurozone proved that global economy is cooling. The Dow Jones Industrial Average fell 0.2% to 13,554.88 points; the Standard & Poor 500 Index dropped 0.3%, to 1,456.09, while Nasdaq Composite Index lost 0.4%, to reach 3,170.81.
European stocks turned lower on Thursday, September 20, as financial data from China, USA and Europe added concerns about the global economy. The Stoxx Europe 600 Index erased 0.4% to 273.88, French CAC 40 Index dropped 0.9% to 3,501.33, Germany's DAX 30 Index lost 0.5% to 7,354.64, and the U.K.'s FTSE 100 Index inched lower 0.7% to 5,845.60.
Brazil's jobless rate fell for the second consecutive month in August, while salaries grew, the Brazilian Institute of Geography and Statistics reported Thursday. Unemployment rate fell to 5.3% in August, compared with 5.8% in July, while analysts predicted Brazilian jobless rate to decline to 5.6% last month.
German stocks drop on Thursday despite upbeat data from the national manufacturing sector. Flesh German PMI contracted the least in the last six months in September. German PMI climbed to seasonally adjusted 47.3 this month compared to 44.7 last month. Positive data from US labour market also supported the index. The DAX Index lost 0.43% to trade at 7,350.65. Four
UK shares declined on Thursday on weak data from China. HSBC China PMI edged up in September but remained below 50.0 level that separates contraction from expansion. Raising global growth worries, Japanese trade balance dropped more than expected last month. However, Spain's borrowing costs slid at the auction of 10-year sovereign bonds, boosting market sentiment. The FTSE 100 Index retreated
Chinese equities plunged on Thursday as boost from Japan's easing measures appeared to be short-lived. The HSBC China PMI inched up to 47.8 in September from 47.6 in August; however, slightly better data still suggests contraction of the China's manufacturing activity. Poor performance of Japanese equities also added pressure on Chinese stocks. The Hang Seng Index sank 1.20% to close
Japanese shares moved sharply lower after previous rally on fresh BoJ stimulus measures. Slight improvement in flesh China's PMI failed to return confidence about China's economic state. Adding to the negative mood of the Japan's equity index, national imports and exports slid more than expected last month, raising global growth concerns. Japanese export tumbled by annualized 5.8% while imports fell
US stocks moved higher on Wednesday on encouraging data from the US real estate market. Existing home sales soared to two-year high last month while construction of single-family houses attained the fastest pace in more than two years. US equities were also supported by BoJ announcement of additional stimulus measures to boost economy. The S&P 500 Index gained 0.12% to
US blue chips index ended Wednesday's session on the positive note on encouraging news for Asia and US property market. The Bank of Japan expanded its asset-purchasing program as a part of its easing measures. Meanwhile, US existing home sales approached two-year high in August. The Dow Jones Industrial Average Index inched up 0.10% to close at 13,577.96. Six out
Consumer within the Eurozone grew more pessimistic about their prospects in September, the European Commission reported on Thursday. Region's consumer confidence declined to an annual rate of -25.9, down from -24.6 in the prior month. Analysts had predicted Eurozone consumer confidence to fall -24.0 last month.
On Thursday, the greenback declined to a one-week low versus the Japanese Yen on disappointing data on U.S. jobless claims and weak reports from China and Eurozone. USD/JPY hit a session low of 78.02, and later consolidated at 78.04, which was a 0.44% decline for the European afternoon trading session.
On Thursday, Treasuries rose for the fourth consecutive day, as investors eyed the upcoming report on manufacturing activity in Philadelphia. Benchmark yields on 10-year government notes lost 4 basis points and were equal to 1.73% at 8:38 a.m. New York time. The four-day gain was the longest since August 23.
On Thursday, oil was traded near a 6-week low on U.S. supply data, which added the most since March, and slowdown in Chinese manufacturing activity. On the NYMEX, October delivery futures for crude were traded at USD90.66 per barrel, which was the lowest since August 6. November delivery contracts declined by 0.3% to trade at USD92.04.
On Thursday, futures for gold came off a session low, following the release of the data on the U.S. unemployment, which was more pessimistic than expected. On the NYMEX, October delivery contracts for gold were traded at USD1,765.75 per troy once, which was a 0.2% fall for the U.S. morning trading session. Earlier, the prices hit USD1,755.75 per troy once, which was a session low.
Japan's exports fell for a third straight month in August, as global demand slows. Nation's exports fell 5.8% from a year earlier, while analysts predicted Japan's exports to decline 7.3% last month. The trade deficit widened to 754.1 billion yen ($9.63 billion) in August, against an expected gap of 809.0 billion yen.
Markit reported on Thursday that the first estimate of its manufacturing PMI in Germany was 47.3 in September, which is an increase from the August's final reading of 44.7. Economists, however, expected the index would rise at a more modest pace, reaching only 45.3. The German manufacturing index in September was the highest since March.
The Office for National Statistics reported on Thursday that the retail sales in the U.K. declined in August, since Olympics distracted shoppers. Retail sales fell by 0.2% from the July's level, whereas economists predicted that the decline would be steeper and equal to 0.3%. Non-store retailing, which is predominantly online shopping, lost 6.7%.
The U.S. Department of Labor reported on Thursday that the amount of jobless claims increased more than expected. The number of Americans who filed for unemployment benefits in the week ended September 15, was equal to 382,000, unchanged from the previous week. Analysts, however, expected that the reading would decline to 375,000.
On Thursday, Spain sold its government debt worth 4.8 billion Euros, which is the biggest amount since January. The Treasury in Madrid managed to sell 3-year bonds for 3.94 billion Euros at the average yield of 3.845%, and 859 million benchmark 10-year government bonds at the average yield of 5.666%, compared to a 6.647% yield at a similar auction last month.
Germany's manufacturing sector fell further in September, however, posting the slowest rate of contraction in six month, Markit Economics said on Thursday. The seasonally adjusted manufacturing PMI advanced to 47.3, compared to 44.7 in August. Economists had forecast a reading of 45.2. Meanwhile, service PMI surged to 50.6 September, signing expansion, from 48.3 in previous month.
Gold futures tumbled in electronic trading on Thursday, corresponding to losses across commodities, as the greenback advanced and data showed China's manufacturing held weak in September. December-delivery gold declined 0.4% to $1,764.50 per ounce. Same month copper fell 1.69%. Platinum for October delivery dropped 2.4% and silver for the same month slipped 0.7%.