The retail gasoline prices in the world's biggest economy reached a seasonal high during this week, the Energy Information Administration reported on Monday. The average price added 2.3 cents to $3.744 per gallon, and 0.163cts above the comparable year-ago national price average. This is the highest price for this season since 1990.
Investors' confidence was improved by hopes the ECB will take bold actions and the world's second largest economy will ease it's monetary policy. The European Stoxx 600 Index jumped 0.3% to 272.27, after losing 0.5% on Monday. At the same time, U.K.'s FTSE 100 Index added 0.3% to 5,842.57, Italian FTSE MIB Index soared 1.7% to 15,228.73, while German DAX 30 Index and French
Canadian wholesale sales surprisingly fell in June, after rising for four straight months. According to the official data, released by the Statistics Canada, wholesale sales declined by 0.1% in June, after rising 0.9% in May. The total volume of wholesale sales in June was about CAD49.9 billion. The decline may be explained, mostly, by lower sales of agricultural supplies. At the same time, market analysts had
Treasuries extended a three-day rally as global equities tumbled after Japan's trade data dropped short of analysts' estimates, rebounding worries that the Eurozone crisis and China's slowdown weaken global growth. The 10-year rate fell to 1.78%. The 1.625% bond due in August 2022 surged 5/32 to 98 18/32.
Oil fell from its three-day high close in London as worries that demand will ease added signs of declining supply in the U.S. Oil tumbled 1% as Japan's trade deficit rose more-than-expected amid euro-debt crisis and a slowdown in China's exports. On Wednesday, October-delivery Brent oil fell $1.05 and traded at $113.59 per barrel in London. In New York, October-settlement
Japanese equities extended previous losses on Wednesday after disappointing Japan's trade balance data. The trade deficit reached JPY517.4 billion in July, up from JPY60.3 billion in June. A sharp drop in exports was the major contributor to an increase in trade deficit. The Nikkei 225 Index tumbled by 0.38% to trade at 9131.74. Only three in ten industries included in
Shares of the US blue chips moved lower on Tuesday despite optimism over the Eurozone. On Tuesday, borrowing costs of Spain dropped after short-term debt auction. Meanwhile, market participants anticipated a release of Fed minutes as well as US existing home sales data due on Wednesday. The Dow Jones Industrial Average Index lost 0.51% to end Tuesday's session at 13,203.58.
US stocks dropped on Tuesday despite positive news from the Eurozone. Spain sold short-term debt with lower yields on Tuesday. Moreover, experts predict that the ECB will soon announce measures to ease debt pressure in the region. Meanwhile, traders remained cautious ahead of the FOMC minutes release due on Wednesday. The S&P 500 Index slid 0.35% to close at 1,413.17.
Asian stocks declined, with the regional benchmark index falling from a 3-month high, amid European leaders meeting this week to discuss the bailout package for Greece and after Japan showed a wider than expected trade deficit. The MSCI Asia Pacific Index fell 0.5% to 120.64. Japan's Nikkei 225 Stock Average slid 0.3%, while Australia's S&P/ASX 200 Index declined 0.2%.
The New Zealand and Australian Dollars declined versus most of their major counterparts before data that might indicate contraction in German and French manufacturing. The Aussie Dollar slid 0.5% to $1.0436 after gaining 0.4% to $1.0487 the previous day. It declined 0.5% to 82.73 Yen. The Kiwi Dollar dropped 0.4% to 80.81 U.S. cents, after gaining 0.3% yesterday. The New
The Canadian Dollar fell from almost 4-month high against the U.S Dollar after a decrease in equities raised risk aversion, making investors sell higher-yielding currencies. The Loonie lost 0.08% to 98.92 cents per unit of its U.S. counterpart. One Canada's Dollar buys $1.0109. The Canadian Dollar had strengthened to the highest since May as oil rose and stocks increased amid
Agricultural commodities were mixed on Tuesday, with grains extending the rally and sugar and coffee declining further. Over the day, market participants remained focused at weather conditions in the US, Russia, Brazil and India. Wheat surged as lack of rain in Russia and EU continued to threaten crops. Meanwhile, poor wheat crops in the EU and Russia are likely to boost
Energy commodities apart from natural gas surged on Tuesday on expectations that the ECB will act to resolve the debt crisis in the Eurozone. Moreover, supply concerns from the Caribbean also boosted the commodity group. Crude oil climbed on lower risk-aversion among market players amid positive news from the single currency union. Threat of tropical storm in the Caribbean also added
Industrial metals advanced on Tuesday on optimism over the Eurozone and hopes for easing in the US and China. Experts claim that the EU leaders are likely to grant Greece an extension of period needed to adjust budget program. Aluminum gained 1.63% despite rising stockpiles and weak confidence. The light metals found support on positive headlines from the Eurozone and
The greenback rose against most of its major counterparts before data that might indicate U.S. housing market is improving, easing concerns the Fed will launch a third round of QE. Demand was also supported before the release of the Fed's minutes of its latest meeting.The U.S. Dollar traded at $1.2467 per Euro after declining to $1.2488 yesterday. The Dollar was
Precious metals rallied on Tuesday amid building hopes for monetary easing by the Fed, ECB and POBC. Meanwhile, traders awaited a FOMC minutes release due on Wednesday; the minutes are likely to be the major driver for the commodity group in the next sessions. Gold reached more than three-month high on hopes for easing by global central banks and weaker US
The Euro strengthened to a 6-week high versus the U.S. dollar and Japanese Yen before European policy makers meet this week and amid speculation the region's debt crisis is being contained. The shared currency rose for a second consecutive day against the greenback after Germany said concessions for Greek government were possible and as Spanish bond yields decreased at the
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