Asian shares advanced, after the regional benchmark stock index erased a yearly increase yesterday . The U.S. economic report that came out better-than-expected and easing worries that the Federal Reserve will scale back stimulus pushed equities higher. The MSCI Asia Pacific Index climbed 1.4% to 130.93, heading towards 0.4% rise this week.
Europe's shares climbed, ending the streak of four weekly retreats for the Stoxx Europe 600 Index, as Asian stocks bounced off after corrections. The Stoxx 600 advanced 0.2% to 291.01 as of 8:09 a.m. London time, ahead of report that may show an increase in U.S. industrial production in May. Standard & Poor's 500 Index futures slid 0.2% today, after
The Loonie reached its highest level in four weeks versus its U.S. counterpart on speculations that the Canada's central bank might raise the interest rates earlier than predicted as the North America's economy is growing. The Canadian Dollar appreciated 0.5% to C$1.0159 per U.S. Dollar as of 5 p.m. Toronto time after reaching C$1.0150 per U.S. Dollar, its highest level
The Japan's Yen strengthened against almost all of its most-traded peers, set for a weekly rise versus all 16, the currency is headed for a fourth weekly advance in the row against the U.S. Dollar. The Japanese Yen appreciated 0.3% to 95.07 per Dollar as of 1:17 p.m. Tokyo time, it has risen 2.6% weekly, while the currency added 0.5%
U.K. shares retreated for a fourth straight day as the FTSE 100 Index fell to more than two-month low on worries that the Federal Reserves could taper the stimulus programme. The FTSE 100 declined 1.2% to 6,226.97 as of 9:35 a.m. London time, making it the lowest level since April 18. The index has dropped 9% since the Fed's Bernanke
Chinese shares declined following a three-day holiday, pushing the benchmark index to the lowest level in six months, after government data indicated industrial output and overseas sales trailed economists expectations. The Shanghai Composite Index fell 2.8% to 2,148.36, the weakest since December 13 and the CSI 300 Index retreated 3.4% to 2,399.94.
Italian three-year debt costs advanced to the highest level since March on Thursday, after worries that the Fed could soon scale back its stimulus which curtails demand for riskier assets. Rome auctioned three-year notes worth of 3.42 billion euros at 2.38%, up from 1.92% it paid on sale in the middle of May.
German government bunds climbed, with 10-year bonds gaining for the third day, as the World Bank snapped its global-expansion predictions and a slip in shares fueled investors to buy safer assets. French and Dutch bonds also advanced on stimulus concerns. Yields on benchmark 10-year notes declined two basis points to 1.56% and the 1.5% bund maturing in May 2023 climbed
U.K. bonds increased for the second day after shares fell as the World Bank damped its global expansion predictions, boosting demand for safer assets. The 10-year bond yield dropped two basis points to 2.12% and the 1.75% note maturing in September 2022 gained 1.90 Pounds per 1,000-Pound par value to 96.905.
The Sterling slipped versus the 17-nation currency on speculation a climb that has made the Pound the best-trading major currency in the last three months might be threatened by the next Bank of England Governor Mark Carney. The Sterling plummeted 0.2% to 85.20 versus the Euro and dropped 0.1% to $1.5668.
The Treasury 10-year securities worth of $21 billion auction drew the weakest demand since August, impended by worries the Federal Reserve will scale back its bond-buying programme. The benchmark 10-year bond yield advanced this week and reached a 14-month high, after investors bets whether the economy is improving enough for Ben Bernanke to start scaling back purchases.
Gold futures decreased on Thursday after advancing on the previous session's, with upcoming report on jobless claims and U.S. retail sales that may boost market speculation about the Federal Reserve's decisions on stimulus. The August gold contracts plummeted 0.3% to $1,388.20 per ounce. Gold prices gained 1.1% , or $15, on Wednesday.
U.S. crude-oil prices fell on Thursday before U.S. retail sales and unemployment data. Crude for July delivery dropped 56 cents to $95.32 a barrel, erasing Wednesday's gain. Crude-oil was under pressure today; however, the greenback slipped versus its most-traded peers. London Brent July crude declined 34 cents to $103.15 a barrel.
Gold prolonged its gains into second trading session today, as Asia's share markets plummeted and the greenback declined to lowest level in four months on worries that the Fed may taper the stimulus programme. Spot gold climbed 0.4% to $1,393.91 an ounce at 2:51 GMT, while U.S. yellow metal was a little changed at $1,393.50.
The World Bank cut its growth predictions for the global economy on Thursday, recalling deeper-than-predicted recession in the Euro block and slow growth in developing states. The world economy is predicted to expand 2.2% this year, slowing from the 2.3% growth in 2012. The Eurozone is predicted to grow moderately, with the GDP advancing 0.9% in 2014 and 1.5% in
Leaders in developing countries took actions to deal with a capital outflow as investors speculate that growth in emerging markets might be harmed by upcoming end of ultra-loose monetary policy. India and Thailand sold dollars in the last several days to fight depreciation of their currencies. Brazil said it is likely to partly unwind its capital controls. The MSCI EM
The BoJ governor Sayuri Shirai expects Japanese government bond prices to stabilize without any intervention by the central bank. He predicts that economic growth will resume in the middle of 2013, while achieving the goal of 2% inflation will take time. The BoJ decision to keep its monetary policy steady and speculations on Fed's withdrawal of its QE significantly contributed
Japan's Nikkei 225 Stock Average declined, slipping 19%, and it almost entered the bear market as the Japanese currency appreciated to its strongest versus the greenback in more than eight weeks. The Nikkei 225 dropped 5.6% to 12,547.96 at 12:39 p.m. Tokyo time, making it the third decline of more than 5% in previous month. The index slid 6.6% today,
The Australian and New Zealand currencies fell versus its most-traded peers after market volatility triggered selling. The Aussie depreciated 0.4% to 94.49 U.S. cents at 1:53 p.m. Sydney time after advancing 0.4%. The Australia's Dollar reached 93.26 on June 12, its lowest level in almost three years, while the kiwi dropped 0.9% to 79.15 U.S. cents.
Bond prices rose in the U.S., Japan and Australia as Asian stocks collapsed, increasing demand for safer assets. The yields rose this month on speculations that the Fed might end its QE, which kept borrowing costs low. 10-year Treasuries yields dropped 2 basis points to 2.21%, while similar maturity Japanese and Australian yields decreased 0.5 and 2 basis points respectively.
The Japan's currency rose, the appreciated to strongest level in eight weeks versus U.S. Dollar as the Japanese investors have sold, more overseas stocks and bonds than bought for a fourth week in a row. The Japanese Yen advanced 1.4% to 94.60 per Dollar at 6 a.m. London time after jumping to 94.45, the strongest level in eight weeks. The
China's stocks slumped after a 3-day holiday when worse than expected exports and industrial production data was released. The Shanghai Composite Index slid 3% to the lowest point since December 13, 2012. The index has already lost 12% of its value since it reached its high in February 3. The CSI 300 Index dropped 3.4%, while Hang Seng China Enterprise
U.S. crude-oil future prices fell on Wednesday, after a surprising weekly climb in oil supply underlined concerns about high inventory levels. The July crude oil contracts declined to $94.77 a barrel. Investors already had concerns about large crude supplies, adding to signs the total U.S. oil supplies were at 397.6 million barrels last week, the highest level since the beginning of
Euro block industrial output gained 0.4% in April, mainly on higher capital goods production and non-durable consumer goods. Industrial production was predicted to remain steady following a gain of 0.9% in March. Capital goods output rose 2.7% and non-durable consumer goods climbed 0.7%. Annual industrial output declined 0.6%, however less than 1.4% fall in March.