Hong Kong's annual inflation fell to the two-year low in July, the Census and Statistics Department reported on Tuesday. The CPI rose 1.6% on year in July, the lowest since July 2010, from 3.7% rise in June. Economists estimated a reading of 3.4%. In the second quarter seasonally-adjusted consumer prices fell 0.7% from Q1.
Belgium's consumer sentiment dropped for the second straight month in August, the National Bank of Belgium said on Tuesday. The consumer confidence index tumbled to -16 from -13 in previous month, while analysts estimated an index to be at -12. Consumer expectations of their future savings opportunities was less negative in August at -3 from -4 in July.
Gold edged up after the U.S. Dollar cut rise against its major counterparts. On Tuesday, December-delivery gold rose $4.60 to $1,627.60 per ounce. Holdings of SPDR Gold Trust, the world's major gold-backed exchange-traded reserve, held stable at 1,274.74 tons. Silver price was increasing and platinum continued decline in morning deals.
German stocks jumped on Tuesday on positive news from Spain. Spanish yield on 12- and 18-month bills declined to 3.07% and 3.34% at the debt sale on Tuesday. Currently, the markets are quiet as traders await meetings between the EU leaders to resolve the crisis in the region. The German DAX Index added 0.38% to trade at 7,059.89 at GMT
UK equities advanced after Spanish costs of borrowing declined at debt auction on Tuesday. Meanwhile, traders are cautious ahead of series of meetings aimed at developing measures to ease debt pressure in the Eurozone. The FTSE 100 Index rose by 0.28% to trade at 5,840.55 at GMT 12:00. Seven out of nine industries jumped. On the upside were basic materials,
The Hang Seng Index slightly retreated despite rally of other China's benchmark indices. Escalating worries over the Eurozone's debt crisis created heavy pressure on China's blue chips. However, optimistic earnings results as well as speculation that China's government may still provide additional monetary stimulus boosted Chinese equities. The Hang Seng Index inched down by 0.02% to trade at 20,100.09. Four
U.K. unexpectedly reported a budget deficit in July as corporation tax receipts declined. According to the Office for National Statistics, the shortfall was 557 million pounds compared to a 2.84 billion pound surplus last year. Tax revenue declined 0.8% and corporation tax fell 19.3%, while government spending increased 5.1%.
Farm commodities advanced on Monday as recent drought in the US may have caused more damage than initially estimated. Moreover, threat of adverse weather conditions in India lifted rural commodities. Wheat rose almost 1% as crops in Australia, Russia and the US are likely to attain record low because of severe drought this year. Corn was the top-performer on speculation that the
Japanese shares declined on Tuesday amid misleading news regarding further actions of the ECB. Meanwhile, market participants anticipated existing home sales data from the US due on Wednesday. Fading hopes for monetary stimulus in China also continued to pressurize Japan's stock index. The Nikkei 225 Index lost 0.16% to end the session at 9,156.92. Six sectors within the index advanced.
Energy commodities were mixed after the ECB denied reports that it may set a cap on peripheral bond yields. However, continuous supply concerns limited the downward trend of the commodity group. Crude oil sank as risk appetite deteriorated on misleading reports regarding further ECB measures aimed at easing debt pressure in the Eurozone. Brent oil retreated amid demand worries as China
The Dow Jones Industrial Average Index was slightly lower on Monday, retreating by 0.03% to close at 13,271.64. Persistent turmoil in the Eurozone coupled with vanishing expectations that the POBC will loosen its monetary policy created notable pressure on the US blue chips. Only three in nine sectors included in the index climbed. The biggest gains posted consumer services and
Industrial metals slumped on speculation that China is not likely to ease its monetary policy as property prices rose again last month. However, weaker US Dollar provided slight support for the base metals. Aluminum was the top-loser amid elevating inventories and weak investors' confidence. Copper slid as hopes for easing in China started to fade. Moreover, recent price forecasts downgrades by the
US equities were flat on Monday amid lingering worries over the Eurozone's debt crisis. On Monday, the ECB announced that news regarding possible introduction of a cap on peripheral bond yields was misleading. Meanwhile, investors anticipated FOMC minutes release due on Tuesday. The S&P 500 Index inched down by 0.002% to trade at 1,418.13. Industries included in the index were
Precious metals apart from palladium rose on Monday amid weaker US Dollar. Meanwhile, traders are cautious ahead of the FOMC minutes that are expected to impact precious metals' price. Gold moved higher ahead of the FOMC minutes release due on Tuesday. Adding to the yellow metal's rally, the Euro rose against the greenback after the ECB reassured that news regarding potential
Thailand's economy grew more-than-expected in the second quarter, boosted by increased domestic demand and improved manufacturing. Nation's GDP added 3.3% during the April- June period, while the analysts had estimated a 1.7% growth. In the meanwhile, the government announced $63.4 economic stimulus package, as factories were shut due to the strongest flooding in more than a decade that took place in January.
U.S. stocks tumbled on Monday, ahead of the Fed's policy meeting later this week, and amid speculations that the ECB will take bold actions to lower borrowing costs for troubled nations in the region. The Dow Jones Industrial Average fell 0.19%, to 13,250.58; the Standard & Poor 500 Index erased 0.27%, to 1,414.34, while the Nasdaq Composite Index lost 0.35%, to 3,065.56. No significant economic
Germany's 10-year bonds dropped for a second day after notes issued by its lower-rated counterparts climbed on optimistic speculation the Eurozone crisis will be solved soon. Germany's 10-year note yield surged to 1.56%. Ireland's 9-year bond yield fell below 6% first time since October 2010. Meanwhile Portugal's 10-year yield dropped to the lowest in 15 months.
The U.S. 10-year bond yields advanced to the highest in three month amid belief a proposal to lighten Greece's bailout terms will ease the Eurozone crisis and amid declining bets the U.S. will add extra stimulus. On Tuesday, 10-year notes yield rose to 1.83%. The benchmark yield surged to 1.86% yesterday, the highest since May 11.
Oil rose to a three-month high in New York after belief European debt meeting this week will start active resolving of the euro area's recession raised oil prices against expectations of increasing supply in the U.S. On Tuesday, September-delivery crude increased to $96.76 per barrel, the strongest since May 11, and was at $96.67. October futures rose to $96.92.
U.K. public sector net borrowing showed smaller-than-expected gain in July, the U.K. National Statistics Office said on Tuesday. Public sector net borrowing reported a GBP 1.8 billion surplus in July, from a GBP 12.2 billion deficit in preceding month. Economists estimated as surplus of GBP 2.5 billion. Following the data the GBP/USD rose 0.35% to 1.5765.
U.K. industrial order estimates decreased more-than-expected this month, tumbling to the eight-month low, the Confederation of British Industry reported on Tuesday. The index fell 15.0 points to -21.0 in August from a -6.0 reading in July. Economists expected a reading of -8.0.
Emerging-market stocks increased the most in a week as China injected funds into its banking system and on speculation the U.S. reports this week will indicate the world's biggest economy is strengthening. The MSCI Emerging Markets Index gained 0.3% to 972.31and the Shanghai Composite Index rose 0.6%.
Asian stocks advanced, pushing the regional benchmark index to a three-month high, before U.S. reports, which might show the world's biggest economy is recovering and as China took steps to alleviate cash crunch. The MSCI Asia Pacific Index gained 0.4% to 121.17. Australia's S&P/ASX 200 Index added 0.4%, while Japan's Nikkei 225 Stock Average and South Korea's Kospi Index declined
The Canadian Dollar traded close to a three-month high on ameliorated economic growth outlook and speculation European policy makers will take steps to curb the region's debt crisis. The Loonie gained 0.1% to 98.84 cents per U.S. Dollar. The Canadian Dollar rose against its U.S counterpart last week on higher than expected retail sales and industrial output in the U.S.