Asian shares advanced, sending the regional benchmark index towards the largest rise since September, after slower-than-expected U.S. economic expansion fueled speculation the Federal Reserve may refrain from tapering stimulus. The MSCI Asia Pacific Index jumped 1.8% to 128.52. Japanese Topix index added 2.8% and the benchmark Nikkei 225 Stock Average gained 3%.
U.S. shares advanced, with the Standard & Poor's 500 Index rising for the third day, after data indicated consumer spending recovered in May and less Americans filed unemployment claims last week. The S&P 500 jumped 0.6% to 1,612.57. The gauge rose 1% yesterday following slower-than-predicted U.S. economic expansion boosted speculation the Federal Reserve will keep the purchases unchanged.
The Sterling declined to the weakest level in three weeks versus the U.S. Dollar and U.K. bonds advanced after data indicated Britons' disposable income fell the most over 25 years in the first quarter and the GDP matched essential measures. The Sterling plummeted 0.3% to $1.5269 and retreated 0.4% to 85.33 against the Euro.
U.K. shares gained for a third straight day, with the FTSE 100 Index headed for its first one-week advance in more than four weeks, as investors expected U.S. data to improve its economy. The FTSE 100 Index added 0.3% to 6,185.35 as of 8:54 a.m. London time; however, the gauge is still headed for a 6% drop in June. The
Gold and silver gained for the first day out of last four, rising from the lowest level in 34 months, as investors speculated on the Fed's stimulus plans. The yellow metal for immediate delivery jumped 1.5% to $1,244.85 an ounce and traded at $1,241.85 as of 1:59 p.m. Singapore time, after touching $1,222 on Wednesday. Silver rose 1.8% to $18.8435
Unemployment rate in Germany unexpectedly decreased in June, showing signs of recovery in Europe's biggest economy. The number of unemployed people decreased 12,000 and now stands at 12.94 million, while economists expected an increase of 8,000. Jobless rate in Germany is 6.8%. Ifo institute's gauge of business confidence and ZEW's investor expectation index showed an increase.
The U.K. stocks climbed for a third day before the U.S. economic data announcement, which is expected to show increases in personal spending and pending home sales. The FTSE 100 Index rose 0.3% to 6,185.35 poising for 1.2% weekly increase, the first in around a month. The gauge is heading for a 6% drop this month. The FTSE All-Share Index
Swiss stocks increased for the third day in a row, which is the longest period of increases in 5 weeks, as investors are waiting for the U.S. economic data to be released today. The U.S. personal spending data is expected to show 0.3% increase, while index of pending home sales is predicted to climb 1%. The SMI index rose 0.3%
European shares were little changed, after the benchmark Stoxx Europe 600 Index advanced the most for two days in almost a year, as U.S. personal spending report was awaited by investors. The Stoxx 600 slid 0.1% to 284.23 as of 8:34 a.m. London time, while Standard & Poor's 500 Index futures rose 0.1% after the equity-benchmark gained 1% for a
The Eurozone's currency depreciated near the one-month low by slipping below $1.30 as the ECB president Draghi stated that monetary stimulus will remain accommodative. The 17-nation currency fell 0.5% to $1.3012 as of 5 p.m. in New York, touching $1.2985, the lowest level since June 3, while it slid 0.6% to 127.17 Japanese Yen.
Chinese stocks recovered some of its recent heavy loses, which occurred due to the cash crunch last week. Chinese authorities allowed rates to rise and liquidity to tighten and intervened only when investors started worrying about potential financial crisis. However, the rates remain above long-term average. The weighted average of seven-day repurchase agreement rate stands at 6.74%, much higher than
Canadian Dollar strengthened for the first day out of last nine as the Fed of Richmond President Lacker stated that he predicts U.S. economy to stay unstable for two more years. The Canadian currency gained 0.4% to C$1.0470 per U.S. Dollar as of 5 p.m. Toronto time; moreover, it reached C$1.0556 per U.S. Dollar June 24, the weakest since October
The British currency was little changed versus the U.S. Dollar and the 17-nation currency ahead of a report that could confirm that U.K.'s economy grew in the first quarter, according to analysts. The Sterling was at $1.5328 at 7:34 a.m. in London after slipping to $1.5298 on Wednesday, the weakest since June 5. The British Pound traded at 85.04 pence
Japanese stocks rose today as U.S. growth data fell short of expectations and led investors to speculate that the Fed will not end its stimulus earlier. The Japanese Topix index rose 2.8% to 1,098.83 today, however, the index is still 14% below its high achieved on May 22. The Topix index of real estate companies increased 8.8%, which is the
The Australian Dollar jumped on Thursday against the greenback as Asian stocks recovered 1.6% and indicated possible stabilization after a decrease earlier this week. However, some investors worry about credit crunch in China, which might not allow the Aussie to rise further. The Australian currency rose 0.4% against the U.S. Dollar to 0.9314.
The U.S. Dollar dropped today against 14 out of 16 main peers before the Fed's policy makers will make their speeches today about the future of the central bank's QE. The greenback fell 0.2% to 1.3033 per Euro today after reaching the highest point of 1.2985 since June 3 yesterday. The currency rose marginally against the Yen from 97.72 yesterday
Asian stocks rose after the U.S. authorities revised Q1 growth downwards, which lead investors to believe that the Fed will not end its QE earlier. Improved situation in China's money markets also contributed to the rise. The MSCI shares outside Japan increased 1.8% today after increasing 1.9% yesterday. Shanghai stocks rose 1.2%, while the Nikkei index jumped 2%.
The Vietnamese economy grew faster in Q2 compared to the growth in Q1. Central bank's efforts to revive lending by cutting interest rates and increasing foreign investment were responsible for the acceleration, while the legislature voted to lower corporate tax rate to further help the businesses. GDP rose 5% this quarter compared to growth a year ago, while it expanded
The Loonie weakened versus almost all of its most-traded peers on reports that showed growth in the U.S. economy, increasing speculations that the Fed could reduce stimulus. The Canadian Dollar dropped 0.1% to C$1.0515 per U.S. Dollar as of 5 p.m. Toronto time, while Canadian government bonds declined 0.05 percentage points to 2.54%.
The Sterling remained unchanged versus the U.S. Dollar and the shared currency as the Chancellor of the Exchequer George Osborne will lay out his spending review to the parliament, covering the 2015 - 2016 financial year. The Sterling was flat at 1.5433 against the Dollar and was at 84.72 versus the 17-nation currency.
The Japanese Yen advanced versus most of its major counterparts as demand for refuge assets was fueled by fall in Chinese stocks for six days in a row. The Japan's currency climbed 0.3% to 97.52 against the U.S. Dollar and jumped 0.3% to 127.49 versus the 17-nation currency, adding to signs the Yen has declined 7% this year.
The PBOC announced it would ensure the stability in the money market, the first public announcement of its determination to ease the crunch after it occurred last week. The reluctance to intervene resulted in CSI 300 Index entering bear market on June 24. The Shanghai Composite Index fell 0.2% at the end of the day after dropping 5.8%.
Indian bond prices dropped, sending yields to the highest level in six weeks amid speculations that the weaker Rupee will limit central bank's ability to cut rates further, which now stand at 7.25%. The currency decreased 0.2% as investors bought the U.S. Dollar after data indicated positive outlook for the economy. The yield increased 0.23 percentage points so far this
Palm oil prices declined to the lowest point in three weeks amid speculations that China's economic growth might slow down. China is the second largest palm buyer after India. The selling was triggered by a credit crunch, which resulted in interbank rates rising to record high last week. September delivery contract lost 1.3% and trades at $745 a metric ton.