WTI crude declined after the U.S., the largest oil-consumer country, showed lower-than-expected data from its vitally important housing market. Additional factor for the drop was the weaker Dollar as greenback's movements and commodities expressed in dollars typically react inversely. WTI futures lost 0.73% to $106.17 per barrel, while Brent crude remained at $108.27 on ICE Futures Europe exchange.
Hungary's central bank decreased the main interest rate from 4.25% to 4.0%, a record low level. This was the 12th monthly cut. The Hungarian Forint depreciated 0.2% to 294.77 versus the Euro at 2:18 p.m. Budapest time. The currency advanced 1.7% in the previous three month. The yield on 10-year bonds dropped from 6.9% to 5.91% yesterday.
The Rupee climbed after the central bank came up with new restrictions that prevents gold imports. The currency was up 0.1% to 59.6575 versus the greenback at 9:13 a.m. Mumbai time. In order to narrow current-account deficit, the bank said that 20% of imported gold has to be available for export. Due to the measures, gold-shortage might occur in the
The Canada's Dollar jumped to a record high, following retail sales report showed an improvement in May. The Canadian currency inched up 0.26% to C$1.0305 versus the greenback. Retail sales in Canada jumped 1.9% in May, following an increase of 0.1% in April, overshooting analysts expectations of a 0.4% advance.
The Ruble depreciated for a second consecutive day as crude, the main export good of Russia, decreased. The currency declined 0.2% against the greenback to 32.40 at 2:35 p.m. Moscow time, after a 1% gain last week. Oil dropped 0.9% to 106 a barrel in New York today. The crude and natural gas industry accounts for about half of the
The greenback advanced versus its major counterparts as treasury yield increase supported the Dollar. The common currency declined 0.04% to $1.3173. The Dollar rose 0.32% to 99.92 against the Yen. The Pound depreciated 0.08% to $1.5343, while the Aussie was down 0.11% to 92.40. The return on 10-year treasuries jumped 3 basis points to 2.513%.
U.K. equities gained as the Prime Minister of China Li Keqiang announced that the economy will expand at least 7%. Rio Tinto and BHP Biliton, the world's largest mining companies, advanced 2%. The British FTSE 100 increased 0.3%, or 18.9 points, to 6,641.36 as of 11:25 London time. Several gauge's companies will publish their earnings this week.
The Japanese Yen depreciated, ending its morning sessions gain, after the greenback entered in a bull market. The Japan's currency dropped 0.31% to 99.95 versus the Dollar at 10:15 a.m. GMT. The downward pressure on the currency started as some experts see possible complications with implementation of Prime Minister of Japan Shinzo Abe's expansionary policy.
Business confidence in France increased to the highest level in 15 months, indicating that higher demand is supporting economic recovery. Industrial executives' sentiment jumped from 93 in June to 95 this month, while experts predicted a rise to 94. A broader gauge, which includes sentiment from services, construction and wholesale industries, increased from 86 to 87.
Sugar production is expected to decrease for the first time in 5 years due to low prices. Sugar supply will drop 1.8% as demand for the commodity will rise 1.9% in the market year, which starts October 1. Sugar prices slid 55% after it reached 30-year highs in 2011 as producers increased their output. It is expected that demand for
According to a report on trade confidence index in U.K., more than 1700 businesses showed a significant gain in export revenue in the second quarter. The gauge advanced 2.85% to 118.12 and is by 2.94% higher than the index a year before. The government of the U.K. has aimed its policy to improve balance of trade since 2010, but trade
European and emerging-market stocks rose together with U.S. S&P 500 futures after China's premier's claims that the economy will not grow less than 7%. The Stoxx Europe 600 Index jumped 0.3% to 301.25, while the MSCI Emerging Market Index increased 1.3% to the highest level in 6 weeks.. Future contracts on S&P 500 index climbed 0.2%
Global stocks jumped after Chinese authorities vowed to increase spending on railway projects in order to ensure that GDP growth doesn't drop below 7%. MSCI Asian-Pacific shares, excluding Japan, rose 1.3%, while FTSE EuroFirst 300 index climbed 0.4%. MSCI world equity gauge increased 0.2% as Nikkei 225 was lifted 0.8%.
WTI crude declined after disappointing U.S. housing data was posted. WTI crude oil futures retreated 0.64% to $106.26 per barrel and the European benchmark Brent crude decreased 0.19% to $107.94. North American crude oil declined the most in over a week amid concerns that the U.S. economy has not grew enough.
U.K. government bonds dropped together with U.S. and German securities as rising European stock market reduced demand for safer assets. Yield on 2-year gilts rose 3 basis points to 0.36% after better-than-expected mortgage approvals data showed signs of improving Britain's economy. Yields on 10-year U.K. securities increased 3 basis points to 2.29%, while the Pound was virtually unchanged.
The U.S. Dollar dropped against the Yen for a second consecutive day as investors speculated that the Fed will not increase rates after unwinding of the QE. The Greenback slid 0.2% to 99.44 Yen so far today after touching 99.15, the lowest point since July 17. The currency was virtually unchanged against the Euro and traded at $1.3196 after it
U.K. shares were little changed before the U.S. earnings that are awaited by investors. The FTSE 100 Index gained 0.1% to 6,627.39 as of 9:15 a.m. London time after advancing 0.5% earlier. The equity-benchmark slid 0.1% on Monday after rising for four weeks in a row. The FTSE All-Share Index climbed less than 0.1% today, while Ireland's ISEQ Index dropped
U.S. shares advanced, with equity exchange-traded funds receiving money at the fastest pace in five years, as housing report and revenue from companies boosted speculation the Federal Reserve will maintain bond-purchases. The S&P 500 added 0.2% to 1,695.53 and the Dow Jones Industrial Average jumped 0.1% to 15,545.55.
German government bunds were unchanged ahead of a regional data that analysts said will indicate consumer sentiment in the Euro block increased for the eight month in a row in July. The European Commission report will indicate sentiment jumped to minus 18.3 in July. German 10-year note yield was flat at 1.51% and the price of the 1.5% bund maturing
The Sterling remained steady versus the U.S. Dollar and the Euro ahead of data that analysts said will indicate U.K. banks boosted lending for mortgages last month. Mortgage approvals increased from 36,102 in May to 38,300 in June. The Sterling was unchanged at $1.5367 and remained flat at 85.85 pence against the 17-nation currency.
Asian shares prolonged rises to the highest level in two months, after the U.S. released disappointing housing report and Chinese Premier Li Keqiang ensured that the Chinese economy will not fall below 7% economic growth index. Japanese benchmark the Nikkei 225 increased 0.80% to 14,778.51 and the Topix jumped 0.48% to 1,222.72.
The Canadian currency touched the strongest level in four weeks ahead of retail sales data that are expected to show an increase. The Canadian currency advanced 0.3% to C$1.0334 per U.S. Dollar as of 5 p.m. Toronto time after it reached C$1.0322 per U.S. Dollar, the strongest in more than a month. One Canadian Dollar buys 96.77 U.S. cents.
European shares increased for the fifth day, extending their longest streak of gains in about three months, after Telenor ASA and Swatch Group AG posted higher profit. Royal KPN NV advanced 11% after announcing that Telefonica Deutschland Holding AG. may take over KPN's German mobile operator E-Plus. The Stoxx Europe 600 Index added 0.4% to 301.4.
The Euro remained flat at its last ending price, after jumping to the strongest level in one month versus the U.S. Dollar, boosted by weaker-than-forecast U.S. home sales data. The common currency was steady at $1.3188 and remained unchanged at 0.8588 against the Sterling, as well as it was trading flat at 131.34 versus the Yen.