Chinese manufacturing index rose in August from the lowest level in 11 months, boosting the case that nation's economy is growing after two-quarter slowdown. The preliminary reading of PMI is 50.1, after it reached 47.7 month earlier, according to HSBC Holdings Plc. This expansion is mostly impacted by China's domestic demand and some economists say that it is capable to
U.K. shares gained, halting three day losing streak for the benchmark FTSE 100 Index, after Germany's and China's manufacturing data topped the expectations. The FTSE 100 added 0.6% to 6,431.5 as of 8:34 a.m. London time; however, the equity-benchmark has declined 5.9% from the highest level since May 22. The FTSE All-Share Index rose 0.6%, while Ireland's ISEQ Index climbed
European shares advanced, bouncing off from their three-week low, as Germany's manufacturing and services industries increased at a faster pace. The Stoxx Europe 600 Index gained 0.7% to 302.84 as of 9:38 a.m. London time. Standard and Poor's 500 Index futures rose 0.4% today, while the MSCI Asia Pacific Index declined 0.7%.
The Fed officials supported the idea to start tapering its bond-buying programme this year if the nation's economy expands, according to FOMC last meeting minutes. Almost all members of the committee stated that to slow down the monetary stimulus programme would not be appropriate at this moment. These debates on when to taper have impacted all markets over the world.
The Aussie gained versus most of its 16 most-traded counterparts after a report that showed increase in China's manufacturing for the first month out of last four. The Australian Dollar added 0.2%% to 89.87 U.S. cents as of 4:42 p.m. Sydney time, after declining 2.4% in the last three sessions, while it climbed 0.2% to NZ$1.1456 after reaching NZ$1.1483 and
The Loonie declined to the lowest level in six weeks after the Fed meeting minutes indicated on that officials support the plan to start winding down central banks stimulus programme this year. The Canadian Dollar slid 0.8% to C$1.0474 per U.S. Dollar as of 5 p.m. Toronto time, after reaching C$1.0483, the lowest level in more than a month.
The British currency declined for a second straight day versus the greenback after the Fed officials supported the plan to cut their monetary stimulus programme this year. The Sterling fell 0.4% to $1.5604 as of 7:42 a.m. in London after reaching $1.5718 day earlier, the strongest level in a month, while it slipped 0.3% to 85.51 pence per Euro.
The U.S. Dollar rose against almost all of its most-trade peers ahead of housing employment claims that may indicate if the nation is continuing its recovery, increasing speculation that the Fed will start tapering in September. The greenback gained 0.6% to 98.24 Yen at 6:35 a.m. London time, after reaching 98.34 earlier, the strongest since August 15, while it added
Treasury 10-year note interest rates reached two-year high before the Fed releases minutes from July meeting, which may include signs of when policy makers intend to pare monetary stimulus. The treasury 10-year yield added 0.04% to 2.85% as of 9:45 New York time, while the 30-year yield gained four basis points to 3.89%.
Soybeans and corn increased in Chicago as predictions for dry weather in the U.S. Midwest caused distress over yields after rain reduced crop growth this year. Soybeans for November delivery added 1.3% to $13.0675 per bushel as of 7:10 a.m. on the Chicago Board of Trade, while corn for December delivery climbed 0.8% to $4.7925 a bushel and wheat for
Copper decreased in New York amid speculation data will indicate manufacturing prolonged to plummet in August in China. Copper for settlement in December slipped 0.7% to $3.3175 per sterling, prices have dropped 1.5% this week, adding to signs copper for settlement in three months retreated 0.5% to $7,280 per metric ton.
U.S. stock-index futures declined, indicating the S&P's 500 Index will retreat for the fifth time in last six days, while investors awaited the release of minutes from the Fed's July meeting. September S&P 500 futures lost 0.3% to 1,646.2 as of 7:27 a.m. New York time, while contracts on the Dow Jones Industrial Average slid 0.2% to 14,951.
Production in U.K. factories advanced the most in two years in the second quarter, and the CBI forecasts that the output will also expand in the next quarter. With regards to total orders balances, 25% of companies posted above normal total order books and 26% reported they were below normal, providing the balance of zero, the highest level since August
Shares is Switzerland were little changed, after regional benchmark index reported the longest streak of losses in almost three months, as the Fed's last meeting minutes were awaited by investors. The Swiss Market Index slid 0.1% to 7,930.9 as of 9:23 a.m. Zurich time; however, the equity-benchmark has advanced 16% this year to date, while the Swiss Performance was little
The Canada's Dollar reached the lowest level since July 10 versus its U.S. counterpart before the Federal Reserve releases it meeting minutes, driven lower by disappointing wholesale and retail report. The Canadian currency declined 0.44% to C$1.04453 against the U.S. Dollar. Canadian wholesales sales unexpectedly fell 2.8% in June and retail sales are forecast to drop 0.4% in June.
U.K. posted its first budget shortfall in July in three years after lawmakers increased its spending and that led to outstripping tax revenue. For comparison, net borrowing was 488 million Sterling from year earlier 823 million Sterling, according to the Office for National Statistics. It is expected that fiscal deficit will increase to 120 billion Sterling yearly or 7.5% of
Gold decreased in London ahead of the Federal Reserve posts minutes from its previous meeting that could provide hints on when officials plan to scale back stimulus. Gold for immediate settlement slipped 0.6% to $1,363.29 per ounce and the December Bullion contract plummeted 0.7% to $1,362.60. Silver for immediate settlement retreated 0.6% to $22.8661 per ounce.
German government bunds remained steady ahead of the 5 billion euro auction of two-year notes in Germany. German 10-year bond yielded 1.84%, adding to signs bunds have declined 2.1% this year. The price of the 1.5% bond maturing in May 2023 was 96.985, while the index on two-year bonds expiring in June 2015 was 0.20%.
WTI declined for the second day in a row, while Brent has decreased for three, as investors await for the signals from the Federal Reserve on bond purchase tapering. WTI futures dropped 0.49% to $104.6 per barrel and the European benchmark Brent oil plummeted 0.61% to $109.46 per barrel. Gasoline supplies dropped by 3.7 million barrels and Distillate stockpiles decreased
The common currency declined versus the U.S. Dollar, falling from the highest level in 6 months on speculations the Federal Reserve will begin to taper stimulus in the nearest future. The Euro plummeted 0.22% to 41.3388 versus the greenback and rose moderately to 130.61 versus the Yen, and retreated 0.08% to 0.8548 against the Sterling.
Asian benchmark share index decreased for the fifth day in a row to the lowest level in six weeks ahead of the Federal Reserve publishes minutes of July's meeting. The MSCI Asia Pacific Index retreated 0.6% to 130.76. Japanese Topix index dropped 0.3% and South Korean Kopsi index plummeted 1.1%. Australian S&P/ASX 200 Index jumped 0.4% and New Zealand's NZX
U.S. shares mainly advanced, with the Standard & Poor's 500 cutting a four-day decline, after better-than-expected retail data, while investors expect hints form the Fed on tapering quantitative easing programme. The S&P 500 jumped 0.4% to 1,652.35 and the Dow Jones Industrial Average declined about 0.1% to 15,002.99.
European shares remained steady, after falling for two days in a row, as investors expected the Federal Reserve to release minutes of July's meeting. The Stoxx Europe 600 Index decreased 0.1% to 301.93, adding to signs the index has slipped 2.2% since August 14 on worries the Federal Reserve will start to taper stimulus next month.
The Aussie and the Kiwi declined before the Fed releases minutes of its previous meeting, which may signal on when the officials are planning to start tapering its bond-buying programme. The Australian Dollar slipped 0.5% to 90.29 U.S. cents at 4:48 p.m. Sydney time from Tuesday, after touching 90.18 earlier, the weakest since August 8, while the Kiwi depreciated 0.6%