Copper is set to increase next week according to a survey released by the Bloomberg News with eighteen bullish analysts compared to seven bearish and seven natural, suggesting that the prices may grow on stronger demand from the largest buyer China. Copper has declined 9.8% to $7,155 a metric ton on London Metal Exchange this year.
Corn traded in Chicago declined on Friday falling for an eight day and traded close to its lowest level in three years amid speculations that the U.S. government may raise its production estimate in today's USDA report. Corn for delivery in two months slipped 0.2% to $4.195 a bushel and traded at $4.20 as of 1:53 p.m. Singapore time.
Gold gained on Friday trimming its second weekly fall before a government data showed that payrolls in the U.S. declined in October, but the U.S. GDP grew faster suggesting that the Federal Reserve may scale back its stimulus sooner than expected. Bullion for delivery in November advanced 0.3% to #1,311.13 an ounce and traded at $1,310.18 as of 2:20 p.m.
India's Rupee declined on Friday together with the majority of Asia's most-traded currencies this week amid concerns that the Federal Reserve may scale back its stimulus sooner than forecast reducing demand for emerging-market assets. The Indian Rupee fell 1.5% to 62.66 per U.S. Dollar this week by 2:03 p.m. Mumbai time, while the Indonesia's Rupiah slipped 0.7% to 11,415 and
Germany's equities decreased on Friday falling from record highs before a government report showed a result in U.S. payrolls and as the rating agency Standard & Poor's cut credit rating of France from AA+ to AA. The benchmark index DAX slid 0.6% to 9,028.84 as of 10:01 a.m. Frankfurt time, although it has added 0.2% this week.
Italian, Spanish and German government bonds declined on Friday after the European Central Bank lowered its benchmark interest rated by 25 basis points to a historic low at 0.25% on yesterday's policy meeting. Italy's 10-year yields jumped four basis points to 4.13% after yesterday's drop to 4.04%, the least since May 28, while Spain's 10-year rates climbed 3 basis points
Government bonds of France decreased on Friday matching economists' expectation after the Standard & Poor's rating agency downgraded the country's sovereign credit rating from AA+ to AA maintaining the stable outlook. The benchmark 10-year government bond rose two basis points to 2.39% by 9:08 a.m. in London, when the prices fell 0.154 to 98.73.
Shares traded in Wall Street decreased on Thursday as the social media network Twitter entered the markets rising 92% in its first trading day on the NYSE, however, the benchmark S&P 500 suffered its worst daily drop since August. The Dow Jones Industrial average fell 0.97% to 15,593.98, the S&P 500 Index slipped 1.32% to 1,747.15 and the Nasdaq Composite
Chinese exports recorded a notable increase in the month of October with the pace of increase exceeding economists' expectations suggesting that the country's economy is improving, a report published by the Customs Administration revealed on Friday. According to the report, the country's exports rose 5.6% in October compared to a 3.2% gain originally forecast.
The European Central Bank surprisingly lowered its benchmark interest rates to an all-time low on yesterday's policy meeting claiming that the rate cut may prevent the recovery from slowing down and helps reach the inflation target. The 23-man Governing Council cut the main refinancing rate by 0.25% to 0.25% as inflation in the euro-area eased to 0.7% in October.
The U.S. Dollar increased on Friday against the 17-nation bloc currency before a government data showed that payrolls in the U.S. rose and as the European Central Bank surprisingly cut its interest rates on yesterday's policy meeting. The U.S. Dollar Index measuring a performance of the currency against its most traded peers gained to 81.46, the most in eight weeks,
The Sterling was fluctuated at 83.43 pence per Euro at 9:22 a.m. in London, after reaching 83.01 pence yesterday, the highest since January 17, after Standard & Poor's, the world's leading index and credit ratings provider, downgraded France's credit rating by one notch from AA+ to AA, as government's taxation, services and product as well as labor market reforms
West Texas Intermediate crude oil advanced 0.16% to $94.38 per barrel, while the Brent sweet light crude slipped 0.44% to $103.03 per barrel this morning, as U.S. economy expanded 2.5% during last three month, showing signs of sustained recovery. GDP advanced to annualized 2.8% in Q3, which is 0.8% more than expected, while jobs claims dropped by 9,000 to 336,000
The Koruna dropped 4.8% versus the European currency to CZK26.982, after Czech National Bank introduced an aggressive foreign exchange intervention measure by selling 500 million of its home currency in order to prevent economy deflation. The consumer price index, as a tool to measure the inflation rate, reached 1% in September and is likely to continue falling, the CNB explained.
The Eurozone's largest economy trade surplus increased 1.7% from €13.3 billion in August to €20.4 billion in September, thus exceeding analysts expectations. The Federal Statistics Office for Germany reported fall in imports by 1.9% to €74.3 billion and surge in exports by 1.7% to €94.7 billion in September, while some say that Europe's number one economy needs export limits in order to help other EU countries cut deficits.
European stock futures traded at lower level this morning before important U.S. report on non-farm payrolls today at 1:30 p.m. GMT. The Euro Stoxx 50 index declined 0.67% to 3,022.81 and German DAX dropped 0.6% to 9,026.53. The French CAC 40 sank 0.77% to 4,248.77, while U.K. FTSE 100 slid 0.53% to 6,661.52. The U.S. Bureau of Labor Statistics expects
Asian stocks are close to the longest loosing streak in five month time, after the U.S. economic growth results raised concern that the Federal Reserve could taper stimulus faster than expected. The MSCI Asia Pacific Index tumbled 0.4%, thus reaching 1% weekly drop. One of the biggest decline was for Fortescue Metals which retreated 4.2%, when Teck Resources Ltd. put
The shared currency deprecated versus the U.S. Dollar after the Standard & Poor's downgraded France's long-term foreign and local-currency grade from AA+ to AA. The analysts predicted that the Euro is faced for 2.9% drop in next two weeks, while other forecasts that the Eurozone's currency might even loose it's 5% gains against the greenback by mid-2014.
The Aussie advanced against most of its 16 major counterparts this week,thus extending its five-day winning streak. The Australian currency reported gains after Chinese import advanced 7.6% and export surged 5.6% resulting in $31.1 billion trade surplus. The Australian Dollar is the second most overvalued currency after the New Zealand Dollar.
French industrial production dropped 0.5% in September, against analyst's expectations of 0.4% expansion, the data from National Institute of Statistics and Economic Studies showed on Friday. The Manufacturing output slipped 0.7% from prior 0.3% increase a month earlier, again missing forecast of 0.4% increase. On the annual basis the manufacturing performance in France dropped 1.3%, while industrial production sank 0.5%
The main rating agency, Standard&Poor's, decreased the sovereign credit rating of France from AA+ level to AA, changing the outlook of the rating from negative to stable. It is the second consecutive decrease of country's rating during the last two years. Rating agency says that such a decision was made, based on low growth forecasts that can put additional pressure
Treasury 5-year note yields slid two basis points to 1.32% at 10:40 a.m. in New York, after touching 1.25% on October 30, the weakest in almost 4 month period, as ECB officials unexpectedly lowered interest rate to 0.25%. Meanwhile 10-year Treasury yields declined 0.02% to 2.63% and 2.5% security note maturing in August 2023 added $1.25 per $1.000 nominal value,
The Pound advanced 0.8% to 83.33 pence per Euro as of 4:37 p.m. in London, after reaching 83.01, the highest level since January 17, after ECB decided to boost Eurozone's economic expansion by reducing the benchmark interest rate to record low 0.25%. Meanwhile, the Sterling weakened against greenback after the U.S. data showed higher economic expansion in Q3 than previously
The so-called loonie weakened as U.S. reported greater economic expansion than expected, while European Central Bank took a surprising decision today in Frankfurt to cut its main refinancing interest rate to a record-low 0.25%. ECB believe that this measure should boost economic growth in Euroznoe. The Canadian currency sank 0.3% to C$1.0444 per greenback as of 9:22 a.m. in Toronto