The 17-nation currency weakened for the first time in 6 days versus the Japanese Yen ahead of European officials' meeting in Brussels to discuss aid for Greece. The Euro also fell against most of the major counterparts as European stocks tumbled, curtailing demand for the Euro bloc's assets. The Euro dropped 0.5% to 106.38 yen after rising to 107.14 yen,
Farm commodities were mixed on Friday, with grains climbing and softs retreating. Rural commodities balanced between bullish USDA weekly export report and rising output in Brazil. Meanwhile, market players remained focused on weather forecasts in the key growing regions to gauge global supply potential.Wheat rose on better demand for US supplies. USDA reported that weekly wheat exports climbed 10% as
Energy futures except for natural gas climbed on Friday as upbeat numbers in Germany coupled with hopes for Greek bailout deal increased demand for riskier assets. Moreover, protests in Egypt over the extension of President Mohammed Mursi powers fuelled supply concerns, boosting energy prices.Crude oil surged on weaker US Dollar and optimism over the Eurozone. Lending additional support for the
Industrial metals apart from nickel rose on Friday, boosted by weaker US Dollar and an unexpected increase in German Ifo business confidence index this month. However, the upswing was capped as investors awaited the IMF and European finance ministers' decision on Greek bailout.Aluminum was the top-gainer on hopes for better demand in China. However, record inventories at global exchanges as
Precious metals rallied on Friday amid broadly weaker US Dollar and upbeat German confidence data. German Ifo Institute announced that its business confidence index jumped to 101.4 in November, compared to forecasts of a decline to 99.5. Meanwhile, market players remained focused on the EU finance misters' talks on Greek bailout due to be resumed on Monday.Gold surged on record
The Pound appreciated against the greenback as recent data showed mortgage approvals advanced to their highest level in nine months in October. The Sterling dropped to its lowest level earlier this month on the eurogroup's meeting. The currency rose 0.6% to $1.6030, after earlier peaking at $ 1.6035 and stayed little changed at 80.87 pence per Euro.
French equities advanced on upbeat German Ifo business climate index. Moreover, recent positive manufacturing and services PMI readings continued to support French stocks. At the same time, lingering concerns over Greece's bailout weighted down on French equities. The CAC Index climbed 0.05% and is currently trading at 3,499.80. Three in ten sectors included in the index rose. The top-performers were
German shares retreated despite positive business climate data. The Ifo Institute for Economic Research reported that its German business climate index advanced to 101.4 in October from 100.0 in September. Experts predicted the index to drop to 99.5 last month. German blue chips remained under notable pressure as market players were cautious over Greek bailout talks due to be resumed
UK stocks inched up on better-than-expected business climate data from Germany. However, gains were limited as uncertainty over Greek bailout persisted. The FTSE 100 Index added 0.1% to trade at 5,796.82. Six out of ten sectors within the index advanced. Defensive stocks led gains, with health care and consumer goods sectors rallying 0.31% and 0.33%. AstraZeneca and GlaxoSmithKline climbed 0.42%
Hong Kong equities advanced on Friday as upbeat PMI data continued to lend support for Chinese shares. Market sentiment was also boosted by China's officials' comments that the country is moving towards reforms as China enters a new stage of economic development. However, concerns that the Eurozone's finance ministers still have not agreed on the next Greek bailout tranche capped
German economy expanded 0.2% in the third quarter on seasonally adjusted basis matching analysts' forecast, yet slowing down the pace of growth as the GDP reading advanced 0.3% in the previous quarter. The main factors contributing to economic growth were exports, construction and household spending, whereas company investment and inventories deprived the nation's GDP. As the Eurozone is still struggling
Brazilian stocks climbed for the second consecutive session on Thursday after upbeat national data. Brazilian unemployment rate dropped to 5.3% last month, in line with market consensus. Moreover, hopes that borrowing costs will remain at record low after inflation slowed this month spurred rally of Brazilian equities. The Bovespa Index climbed 0.35% to close at 56,436.97. Six out of nine
Gold is set to its weekly advance, as investors increased their holdings and central banks boosted their reserves on Eurozone's debt crisis and Merkel's announcement the EU leaders will not agree on the budget deal in the summit. Spot gold was at $ 1,731.50 an ounce, advancing from yesterday's $ 1,729.55. Gold Futures for December added 0.2% to $ 1,731.30
German business confidence advanced unexpectedly in November, indicating the German economy might recover and the nation's business climate is becoming more optimistic. The business climate index surged to 101.4 in November from 100 the prior month, breaking out from its declines throughout the last six months. German growth slackened less than expected in the third quarter on Eurozone's recession. "The improvement
Australian shares retreated on Friday, with the market lacking direction as the Wall Street was closed for Thanksgiving Day holiday. Australian equities noted some support from upbeat PMI releases from the US, China and the Eurozone. At the same time, speculation that China will cut taxes for Chinese iron ore producers weighted down on Australian miners. The S&P/ASX 200 Index
Farm commodities were mixed over the last five trading days amid weak demand for US exports and rain forecasts in Brazil. Meanwhile, US markets were closed for on Thursday due to Thanksgiving Day holiday.Wheat posted a weekly decline on signs that demand for US supplies weakens. US farmers sold only 314,500 tonnes of wheat last week versus the USDA forecast
Energy futures, excluding natural gas, fell on Thursday on easing supply concerns in the Middle East. However, the commodity group noted some support from a recent slump in US inventories and brighter demand prospects. Preliminary PMI readings indicated that manufacturing activity in the US, China and the Eurozone was better than market consensus in November.Crude oil dropped despite strong demand-side
European equity futures slightly advanced as the Stoxx Europe 600 index is close to its biggest weekly advancement in nine months on speculation the U.S. and China are on their way to economic recovery, and prior to report on Germany's business confidence that probably fell this month. Euro Stoxx 50 Index added around 0.1% to 2,536, whereas FTSE 100 Index
Base metals apart from nickel climbed amid signs of recovery of the global manufacturing activity. Flash PMI data suggested that manufacturing sector in China, the US and the Eurozone performed better-than-expected in November. Demand for riskier assets was also spurred by Angela Merkel comments that EU finance ministers may agree on the Greek bailout terms on Monday.Aluminum gained, balancing between
Asia's currencies are set to gain this week, driven by optimism the regional economy will recover, and Philippine peso. The currency appreciated 0.6% to 41.073 per dollar, while the South Korean Won strengthened 0.5% to 1,086.25 and Malaysia's Ringgit surged 0.5% to 3.0591 this week. Meanwhile, the Chinese currency Yuan added 0.13% to 6.2277. The economic outlook improved as Chinese
Precious metals except for silver moved higher on Thursday amid broadly weaker US Dollar and solid global equities. Optimism over Greek bailout also helped to boost the market sentiment. Meanwhile, trade volumes were light as US market was closed for Thanksgiving Day holiday.Gold closed slightly higher on physical demand-side support. Central banks of Kazakhstan, Turkey, Russia and Brazil increased their
Asian stocks rallied, led by advance in rare-earth companies, and Taiwan shares rose as the nation's finance minister' s statement concerning government-controlled funds that should buy equities at lows. The MSCI Asia Pacific Excluding Japan Index gained 0.5% to 442.08, heading for its weekly increase in 3 weeks. South Korea's Kospi Index climbed 0.4% and Hong Kong's Hang Seng added
Australia's Dollar was set for an advance this week as global stocks rallied, boosting demand for high-yield assets. The Aussie Dollar bought $1.0396 from $1.0390 yesterday. Data this week showed manufacturing in China, Australia's largest trading partner, is improving, buoying demand for the Australian Dollar.
The Japanese Yen strengthened against all of 16 major counterparts as contraction in the Eurozone's manufacturing activity and services clouded global growth outlook. Japan's currency advanced 0.3% to 82.24 per greenback after earlier touching 82.84, the weakest level since April 4. The Yen gained 0.3% to 105.96 per Euro. Japanese markets are closed today for a holiday.