German 10-year Government bunds remained flat ahead of the data economists forecast will indicate the Euro block investor sentiment advanced for the second month in June. German 10-year bond yielded 1.55%, following a rise to 1.57% on June 3, the highest level since February 25. The cost of the 1.5% bond maturing in May 2023 was 99.56.
Last week, gold bull bets reached the highest level in seven weeks ahead of the U.S. employment report, which showed that the country's jobs data have beat the expectations. The yellow metal futures gained 1.6% in the first four days of the previous week before declining 2.3% on June 7, making it the biggest drop in almost two months.
Crude-oil futures climbed in electronic trade on Monday, with the market expecting three key reports on energy later this week. The July benchmark U.S. crude contracts increased to $96.13 a barrel during Asian session hours, after a 1.3% gain on Friday as May employment data advanced more-than-expected.
Asian shares increased, with the benchmark regional stock index heading towards the highest level in over six weeks, as data indicated the U.S. hired more employees than predicted. The MSCI Asia Pacific Index gained 1.5% to 132.29, the highest climb since April 24. Shares advance also as Japanese revised data showed its first-quarter economic growth.
The weekend data showed that the China's exports and domestic activity missed expectations in May, raising worries about the country's economic growth. At the same time, Premier Li Keqiang said the economy is stable and there are no problems with growth even though the evidence showed that the China's economy is struggling. The imports declined 0.3%, against the predicted
Japanese stocks recovered on Monday as the global equities advanced and the U.S. employment data were solid; however, not good enough to raise concerns about scaling back the Fed's stimulus in the nearest time. The Nikkei average gained 3.7% after Friday's 2.8% loss, while the MSCI's broadest index stayed steady.
Economists changed their calculations for how much the Federal Reserve will minimize its monthly bond purchases. The most economists predict that officials will cut fiscal stimulus programme from $85 billion to $65 billion worth of purchases a month. The uncertainty of when and by how much the Central Bank lawmakers will scale back its QE programme has jolted financial markets.
The U.S. currency was weak and shaky on Friday, following the biggest one-day decline versus the Japanese currency in three years and ahead of employment report that might move the greenback down if it will be under predictions. The common currency was flat at $1.3242 versus the U.S Dollar. The Fed might start scaling back its stimulus in September if employment data
Crude-oil futures were taking a breather after gains on Thursday, as the U.S. employment data may influence the outlook for the Fed's stimulus programme. Oil prices for July delivery were little changed, reaching $94.78 a barrel. The decline of the U.S. Dollar is helping oil and other dollar-denominated commodities making them cheaper to holders of other major currencies.
German overseas sales unexpectedly increased in April, adding to signs the economy potentially will continue to improve in the second quarter. The Bundesbank today cut German economy's growth forecast for the year 2013 and 2014 on extended structural issues in the Eurozone. The exports increased 1.9% in April following a gain of 0.5% in March.
The Japan's currency climbed higher on Friday morning trading as Tokyo ruled out intervention, however most currency pairs outside the Asia headed sideways before the U.S. employment data for May. The U.S. currency dropped to 96.49 against the Yen, after reaching a low of 95.88 per Yen yesterday.
U.S. shares advanced, with the Standard & Poor's 500 Index climbing to snap a two-session losing streak, after investors awaited the Fed's stimulus programme ahead of the data amid jobs growth tomorrow. The S&P 500 gained 0.9% to 1,622.56 and the Dow Jones Industrial Average rose 0.5% to 15,040.62.
European shares changed slightly, after the Stoxx Europe 600 Index declined to the six-week low on Thursday, as the U.S. jobs data are awaited. The Stoxx 600 slid near 0.1% to 291.6 as of 8:04 a.m. London time; however, the index has advanced 4.3% this year to date as most central banks kept their stimulus programmes.
The Sterling was headed for the biggest one-week advance in more than 36 months against the greenback, ahead of a report that is expected to show U.S. employment rose at a slower pace than predicted. The British currency traded at $1.5592 as of 7:52 a.m. in London after adding 2.6% against the U.S. Dollar this week, the most in more
Standard & Poor's lowered the Brazilian credit rating outlook, which said weak economic improvement and an expansionary economic policy possibly might rise Government's debt levels. The S&P announced yesterday that it cut outlook on Brazil's BBB rating, that is two levels higher than junk and matches with Mexico and Russia, from stable.
Most Asian stocks dropped Friday amid caution before U.S. payroll report, while Japan's shares declined for the third day in a row after overseas sellers were pressured amid the Japanese Yen's jump overnight. Australian S&P/ASX 200 declined 0.9% and South Korean Kospi fell 1.8%, and Hong Kong's Hang Seng Index slipped 1.4%.
German 10-year bunds rose before today's domestic industrial output data release, which will show no change, according to experts' prediction. The yield decreased 2 basis points to 1.5%. The euro area's government bonds fell yesterday as Mario Draghi said that the economic growth will return by the end of this year, which reduced the need for additional stimulus.
Treasuries climbed for the third day, after Japan's shares dropped and economists expect that the data will indicate employment advanced less-than-predicted. Benchmark 10-year yields fell to 1.06% and the price of the 1.75% bond expiring in May 2023 increased $1.88 per $1,000 nominal value, to 97 1/4. Due to market volatility, investors are buying safer assets and the U.S. Treasury
Germany's exports rose 1.9% in April compared to 0.5% advance in March, which was higher than experts' expectations of 0.1%, while imports increased 2.4%. Country's trade surplus decreased from EUR18.8 billion last month to EUR18.1 billion in April. The ECB revised its growth expectations and it now forecasts that the euro area will grow 1.1% in 2014 after shrinking 0.6%
As the Gold's bear market started approximately 8 weeks ago, the gold traders are the most bullish as the equities declined from near five-year high and the U.S. Dollar fell. According to analysts surveyed by Bloomberg, the yellow metal's prices should go up. The global shares advanced to the highest level since June 2008 on May 22 touched the lowest
The Australian Dollar fell today, sending the currency for its biggest weekly loss against the Yen since September 2011. The Aussie slid 1.6% to 91.56 Yen after it touched 90.84,posting a 4.8% weekly decline. The currency also depreciated 1.2% against the U.S. Dollar to 94.86 U.S. cents. 10-year Australian government bond yield decreased 0.09 percentage points to 3.26%.
Chinese stocks fell today for 7th day in a row, which might be the first weekly drop since April 26. The decline was caused by concerns about tighter liquidity and slowing economic activity as economists predict that the data will show slower export growth tomorrow. The Shanghai Composite Index slid 1%, while the CSI 300 Index dropped 1.3%.
The Loonie appreciated the most in almost 12 months against its U.S. counterpart as the Bank of Canada Governor Stephen Poloz said in his first statement that the increase in rates will be supported by economic growth. The Canada's currency advanced 0.8% to C$1.0264 per U.S. Dollar as of 5 p.m. Toronto time after rising 1.4%, the most in almost
The U.S. Dollar dropped 0.5% against the Yen to 96.44 from 97.52 earlier today and Japanese stocks sank before today's non-farm employment change and unemployment rate data releases in the U.S, which might shed light on the future of Fed's monetary easing. Nikkei 225 index shrank 1.9%, while Topix fell 2.4%. Economists expect the U.S. unemployment to stay at 7.5%