Crude oil futures rose above $97 on growing optimism that the ECB will curb Eurozone's debt crisis. Crude for September settlement added 1.3 per cent, or $1.25, to $97.22 per barrel. Meanwhile, other oil-related products edged higher as well, with heating oil, gasoline and natural gas all with September contracts jumping more than 1%.
The Euro rocketed on Tuesday, August 21, as the optimism over bold ECB action to stem the 17-member bloc's debt crisis grew. The shared currency soared 1.03% to $1.2472. At the same time, the ICE Dollar Index erased 0.68% to 81.9. Moreover, better-than-expected Spain debt auction boosted the Euro as well, with Spain selling 4.51 billion euros of 12- and 18-month bonds.
The Euro rocketed on Tuesday, August 21, as the optimism over bold ECB action to stem the 17-member bloc's debt crisis grew. The shared currency soared 1.03% to $1.2472. At the same time, the ICE Dollar Index erased 0.68% to 81.9. Moreover, better-than-expected Spain debt auction boosted the Euro as well, with Spain selling 4.51 billion euros of 12- and 18-month bonds.
Spain's bond yields tumbled on belief the ECB would resume buying peripheral bonds. The Spanish Treasury raised EUR 4.51 billion from sale of 12- and 18-month notes on Tuesday, the agency forecast a range of EUR 3.5 billion – EUR 4.5 billion. The one-year note yield fell to 3.070% from 3.918% in preceding auction on July 17. The 18-month debt
Copper advanced to the two-week high amid optimism an upcoming ECB strategy will help stop the euro-debt crisis, however prices will probably hold quite stable as investors await more trading signals. On Tuesday, three-month copper rose 1.8% to $7,590 per tonne in London, the strongest since August 7.
U.S. stock futures increase, lead by the S&P 500 Index hitting a four-year high, on belief the European leaders will step up resolving the euro-debt crisis during meetings this weeks. On Tuesday, S&P500 futures due in September advanced 0.2% to 1,417.9. Dow Jones Industrial Average futures rose 0.2% to 13,257.
China is stepping into a demographic "danger zone" where a financial recession may become more probable due to rise in mortgages and property prices corresponding with an aging of the population, a Bank of Japan Deputy Governor Kiyohiko Nishimura announced on Tuesday. China is in danger of similar crises in the U.S. in 2000s and in Japan in 1990s as
Hong Kong's annual inflation fell to the two-year low in July, the Census and Statistics Department reported on Tuesday. The CPI rose 1.6% on year in July, the lowest since July 2010, from 3.7% rise in June. Economists estimated a reading of 3.4%. In the second quarter seasonally-adjusted consumer prices fell 0.7% from Q1.
Belgium's consumer sentiment dropped for the second straight month in August, the National Bank of Belgium said on Tuesday. The consumer confidence index tumbled to -16 from -13 in previous month, while analysts estimated an index to be at -12. Consumer expectations of their future savings opportunities was less negative in August at -3 from -4 in July.
Gold edged up after the U.S. Dollar cut rise against its major counterparts. On Tuesday, December-delivery gold rose $4.60 to $1,627.60 per ounce. Holdings of SPDR Gold Trust, the world's major gold-backed exchange-traded reserve, held stable at 1,274.74 tons. Silver price was increasing and platinum continued decline in morning deals.
German stocks jumped on Tuesday on positive news from Spain. Spanish yield on 12- and 18-month bills declined to 3.07% and 3.34% at the debt sale on Tuesday. Currently, the markets are quiet as traders await meetings between the EU leaders to resolve the crisis in the region. The German DAX Index added 0.38% to trade at 7,059.89 at GMT
UK equities advanced after Spanish costs of borrowing declined at debt auction on Tuesday. Meanwhile, traders are cautious ahead of series of meetings aimed at developing measures to ease debt pressure in the Eurozone. The FTSE 100 Index rose by 0.28% to trade at 5,840.55 at GMT 12:00. Seven out of nine industries jumped. On the upside were basic materials,
The Hang Seng Index slightly retreated despite rally of other China's benchmark indices. Escalating worries over the Eurozone's debt crisis created heavy pressure on China's blue chips. However, optimistic earnings results as well as speculation that China's government may still provide additional monetary stimulus boosted Chinese equities. The Hang Seng Index inched down by 0.02% to trade at 20,100.09. Four
U.K. unexpectedly reported a budget deficit in July as corporation tax receipts declined. According to the Office for National Statistics, the shortfall was 557 million pounds compared to a 2.84 billion pound surplus last year. Tax revenue declined 0.8% and corporation tax fell 19.3%, while government spending increased 5.1%.
Farm commodities advanced on Monday as recent drought in the US may have caused more damage than initially estimated. Moreover, threat of adverse weather conditions in India lifted rural commodities. Wheat rose almost 1% as crops in Australia, Russia and the US are likely to attain record low because of severe drought this year. Corn was the top-performer on speculation that the
Japanese shares declined on Tuesday amid misleading news regarding further actions of the ECB. Meanwhile, market participants anticipated existing home sales data from the US due on Wednesday. Fading hopes for monetary stimulus in China also continued to pressurize Japan's stock index. The Nikkei 225 Index lost 0.16% to end the session at 9,156.92. Six sectors within the index advanced.
Energy commodities were mixed after the ECB denied reports that it may set a cap on peripheral bond yields. However, continuous supply concerns limited the downward trend of the commodity group. Crude oil sank as risk appetite deteriorated on misleading reports regarding further ECB measures aimed at easing debt pressure in the Eurozone. Brent oil retreated amid demand worries as China
The Dow Jones Industrial Average Index was slightly lower on Monday, retreating by 0.03% to close at 13,271.64. Persistent turmoil in the Eurozone coupled with vanishing expectations that the POBC will loosen its monetary policy created notable pressure on the US blue chips. Only three in nine sectors included in the index climbed. The biggest gains posted consumer services and
Industrial metals slumped on speculation that China is not likely to ease its monetary policy as property prices rose again last month. However, weaker US Dollar provided slight support for the base metals. Aluminum was the top-loser amid elevating inventories and weak investors' confidence. Copper slid as hopes for easing in China started to fade. Moreover, recent price forecasts downgrades by the
US equities were flat on Monday amid lingering worries over the Eurozone's debt crisis. On Monday, the ECB announced that news regarding possible introduction of a cap on peripheral bond yields was misleading. Meanwhile, investors anticipated FOMC minutes release due on Tuesday. The S&P 500 Index inched down by 0.002% to trade at 1,418.13. Industries included in the index were
Precious metals apart from palladium rose on Monday amid weaker US Dollar. Meanwhile, traders are cautious ahead of the FOMC minutes that are expected to impact precious metals' price. Gold moved higher ahead of the FOMC minutes release due on Tuesday. Adding to the yellow metal's rally, the Euro rose against the greenback after the ECB reassured that news regarding potential
Thailand's economy grew more-than-expected in the second quarter, boosted by increased domestic demand and improved manufacturing. Nation's GDP added 3.3% during the April- June period, while the analysts had estimated a 1.7% growth. In the meanwhile, the government announced $63.4 economic stimulus package, as factories were shut due to the strongest flooding in more than a decade that took place in January.
U.S. stocks tumbled on Monday, ahead of the Fed's policy meeting later this week, and amid speculations that the ECB will take bold actions to lower borrowing costs for troubled nations in the region. The Dow Jones Industrial Average fell 0.19%, to 13,250.58; the Standard & Poor 500 Index erased 0.27%, to 1,414.34, while the Nasdaq Composite Index lost 0.35%, to 3,065.56. No significant economic
Germany's 10-year bonds dropped for a second day after notes issued by its lower-rated counterparts climbed on optimistic speculation the Eurozone crisis will be solved soon. Germany's 10-year note yield surged to 1.56%. Ireland's 9-year bond yield fell below 6% first time since October 2010. Meanwhile Portugal's 10-year yield dropped to the lowest in 15 months.