Energy futures apart from natural gas witnessed mild gains on encouraging US durable goods orders data and escalated geopolitical tensions in Africa. Capping gains of the commodity complex, US Dollar climbed against its major peers ahead of the Fed monetary statement due on Wednesday. Crude oil hovered near a four-month high after positive US data. Meanwhile, market players were cautious as
Industrial metals moved higher on Monday on upbeat reading of the US durable goods orders. US durable goods orders soared by a seasonally adjusted 4.6% in December, compared to expectations for a 1.8% increase. Aluminum inched up on hopes that signs of economic recovery in the US will spur demand for industrial metals. However, the upward trend remained limited due
Precious metals started the week on the negative note amid increased caution ahead of the Fed monetary policy decision due on Wednesday. Broadly stronger US Dollar and signs of global economic recovery also weighed on the commodity complex. However, strong physical demand for precious metals limited the downswing. Gold edged down despite signs of strong demand from central banks. Russia's and
The Canadian Dollar, also called Lonnie, was little changed and traded at $0.9937 in late Toronto trading session on Monday. The Lonnie was traded close to a six-month low against the U.S. counterpart, as Moody's Investors Service cut credit ratings for six Canadian banks on high consumer debt and elevated house prices, what indicates a possibly slower domestic economic growth
Australian Dollar, also called Aussie, rose 0.2% to $1.0435 at Sydney trading session on Tuesday. The Aussie strengthens against the major counterparts as stocks in Asia appreciate and boost demand for risky assets. Investors are more likely to buy risky assets as global economic situation shows recovery signs. Also, National Australia Banks confidence index increased from minus 9 to 3,
Crude oil futures for March settlement were higher by 28 cents to $96.72 a barrel on the New York Mercantile Exchange in Singapore trading session on Tuesday.Trade volume was 40% below the 100-day average. Oil was traded near a highest level in last four months on the signs of economic recovery in the U.S., the biggest oil consumer, and after
MSCI Asia Pacific Index was higher by 0.7% to 132.27 points by midday in Tokyo trading session on Tuesday. Asian region benchmark heads for the biggest weekly gain, as Japanese banks made announcements about possible profits. Mitsubishi UFJ increased by 4% and Sumitomo Mitsui Financial Group soared by 4.2%, as banks' nine-month profit each exceeded by $5.5 billion, as Nikkei
The S&P 500 index lost 0.2% to 1,500.18 points in the end of New York trading session on Monday. The major U.S. index slipped lower after the longest rally since 2004. Investors traded pessimistically, as the home sales index indicated a 4.3% contraction in December after 1.6% increase in November. Also, durable goods in the U.S. increased by 4.6% in
European stocks stayed flat on Monday as reports on U.S. economic data showed that durables orders advanced while pending house-sales retreated. The DAX index erased 0.3%, or 23.62 points, to 7,833.75. All but one group in the gauge declined with utilities pairing biggest losses, as they tumbled 1.62%, followed by health care and consumer services that retreated 0.62% and
U.K. shares climbed, with the FTSE 100 index extending its highest level in four years after a report showed durable goods in the U.S. increased at a faster pace than estimated by economists. The FTSE 100 advanced 0.2%, or 13.1 points, to 6,297.5. The gauge has rallied 6.8% so far this year. Five out of ten groups in the gauge
Hong Kong shares capped their earlier losses and posted their first gain in four days on improving Chinese banking sector that offset the declining property counters. The Hang Seng index advanced 0.4% to 23,671.9 on Monday. All but two groups in the gauge advanced with basic materials jumping the most by 0.66%. Want Want China posted biggest increase in its
U.S. stock index futures improved modestly on Monday after data showed good start to the earnings season, when the benchmark Standart and Poor's 500 index rose over the level of 1,500 for the first time in a five-year period. S&P 500 futures climbed 2 points, Dow Jones Industrial Average futures jumped 22 points and Nasdaq 100 futures added 2 points
The shared currency slipped from the highest level in an eleven-month period against its major counterpart on Monday as investors closed their positions after the recent rally, although growing optimism on the Eurozone recovery might make them go long again at lower prices. The Euro decreased 0.2% to $1.3435 on Monday after reaching its highest level in eleven months last
Japan's government upwardly revised it's gross domestic product growth for the fiscal year starting April 2013 as the new Prime Minister Shinzo Abe presented his monetary policy measures in order to end deflation and boost the economy, the report by the Cabinet Office showed on Monday. The report estimates the economy to rise 2.5%, a higher figure than 1.7% estimated
U.S. durable goods rose notably above economists' expectations in the last month of 2012, together with transportation equipment orders which increased by 11.9% in the same month, the Commerce Department reported on Monday. The report showed a 4.6% rise of durable goods orders in December following a November's 0.7% jump, while economists forecast a 1.6% jump.Stock prices were changed after the report
Japanese Stocks dropped, dragging down the Nikkei 225 index from its longest stretch of gains since 1970, as Fanuc Corporation and Advantest Corporation retreated on rising concerns about their profits. The Nikkei 225 declined 0.9% to 10,824.31. Eight out of ten groups in the index edged lower. Fanuc erased 7% to 13,550 yen after the company lowered its earnings outlook
U.S. equities posted longest series of daily gains since the year 2004 on better-than-expected corporate profits and U.S. lawmakers' decision to temporarily delay the federal debt-ceiling. The Dow Jones Industrial Average rallied 1.8%, or 246.28 points, to 13,895.98. All sectors in the gauge edged higher. Consumer goods posted biggest gains after Procter & Gamble jumped the most among all blue
U.S. shares climbed on Friday, posting the longest stretch of daily rallies in the last 8 years, as optimism rose on corporate earnings that beat the estimates and the delay in determining the federal debt-ceiling. The S&P 500 index advanced 1.1% to 1,502.96. All groups in the index edged higher. Netflix was the best performing blue chip in the
Rural commodities were mixed on Friday amid broadly weaker US Dollar and concerns over spreading coffee leaf rust in Central America. Meanwhile, mixed US export data released by the USDA also caused grains' price correction. Wheat climbed after the USDA report showed that US wheat export sales beat expectations, surging above 650,000 tonnes. Additionally, concerns over the US hard winter
Energy futures moved lower on Friday after weak data release from the US real estate market. Moreover, profit taking after Thursday's rally put heavy pressure on the commodity group. However, positive German business confidence data as well as weaker greenback restricted a downward trend. Crude oil ended the week in the negative territory as traders cashed out form the market after
Industrial metals were bearish on Friday despite encouraging German business confidence data. The Ifo institute's business climate index rose to 104.2 this month, the highest level since June. However, weak US housing data release weighted on industrial metals. US new home sales dropped 7.3% on a monthly basis in December. Aluminum sagged 3.44% after dismal data from the US property market.
Precious metals were mixed on Friday as investors continued to lock in gains after the previous rally. Moreover, upbeat reading of German business confidence eroded safe-haven appeal of the commodity group. At the same time, broadly weaker greenback provided support for the commodity complex. Gold slumped on profit taking and positive German data. However, weaker-than-expected new home sales in the US
New home sales in the U.S. dropped unexpectedly in the month of December despite an improvement of longer-term trend, the U.S. Commerce Department reported on Friday. New single-family homes declined 7.3% from a November's revised level of 398,000 to a seasonally adjusted 369,000 in December, while economists expected the new home sales to rise to 388,000."2012 was the first year
The British economy slowed down more than economists expected in the last quarter of 2012 as oil production in the North Sea fell, quarrying and mining output declined and as the Olympic games boost slumped, pushing the economy into a "triple-dip" recession. The UK's gross domestic product shrank 0.3% in the Q4 compared to a 0.1% fall initially estimated."There are