West Texas Intermediate oil dropped from its two-week high before a report released by the Energy Department showing that U.S. crude stockpiles climbed to the highest level in eight months and recorded its longest run of advances since May 2012. April WTI futures slipped 37 cents to $91.69 a barrel on the NYMEX and were at $91.71 at 2:52 p.m.
Farm commodities apart from coffee were bullish on Monday, being supported by Wasde report released on Friday. Moreover, signs of robust demand for grains from livestock producers as well as talks over a change in Brazilian taxes on biofuel sent rural commodities higher. Wheat climbed despite brighter prospects for the US winter crops. Over 27% of the US winter wheat was
Energy futures were mixed on signs that China's industrial output is slowing. Adding to losses, Saudi Arabia increased its oil production in February. At the same time, weaker US Dollar and possible deficit at Cushing, the largest oil storage hub in the US, lent support for the commodity complex. Crude oil posted a mild gain despite weak fundamentals. Investors are cautious
Industrial metals were mixed after the data showed China's industrial production expanded 9.9% last month, below forecasts of a 10.5% jump. Meanwhile, concerns over possible deterioration of the Eurozone's economic state continued to push base metals deeper in red. Aluminum prolonged its slump amid elevated inventories at the LME and persistent surplus on physical market. At the same time, the downswing
Precious metals were mixed on Monday as investors were cautious ahead of another EU Economic Summit due later in the week. Physical demand concerns also weighed. Firm China's CPI stocked worries that the country will refrain from stimulus measures. Gold ended slightly higher, advancing for third consecutive session on hopes that worsening situation in the Eurozone will boost safe-haven appeal of
The Japanese Yen was lower by 0.2% to 96.51 per the U.S. Dollar in the second part of Tokyo trading session on Tuesday. During today's session, the pair touched 96.71, the weakest level of the Yen since August, 2009. Also, today macro data showed, that prices in the country reduced for an eleventh month, meaning that deflation entrenches in Japan.
The Shanghai Composite Index lost 1.4% and decreased to 2,277.70 points by midday trading session in Beijing on Tuesday. The major China's equity gauge is on a slide for a four straight day, which is the longest falling streak in last three months. Investors are concerned about macro economic numbers, which do not signal that domestic economy maintains its strength as it
U.S. equities advanced on Monday, as financial stocks rose. In addition, the CBOE Volatility Index tracking cost of using options as insurance against decrease in the S&P 500 Index slumped 8.2% to 11.56, the lowest in more than five years. The Dow Jones Industrial Average climbed 0.4% to 14,447.29, extending its winning streak for a fifth consecutive day. Seven out
U.S. equities extended their gains with the Standard & Poor's Index approaching its record high and market volatility gauge dropping to its lowest since 2007, as lenders edged higher and Apple shares rose. The S&P 500 Index jumped 0.3% to 1,556.22. All but one sector inched higher. Glenworth Financial Inc. surged the most in the gauge on optimism the life
Consumer price inflation in Norway slowed down, matching economists' predictions mainly due to a 1.1% fall of food and non-alcoholic beverages and a 2.6% drop of footwear and clothing prices. The rate of growth of consumer price index slowed from 1.3% in January to 1% in February, while core consumer prices rose 1.1% annually in the same month, slower than
The U.S. Dollar strengthened against the Japanese Yen and was little changed against the shared currency on Monday session after last week's U.S. data showed a notable job growth, which fuelled speculation that the Fed might rein in its monetary policy measures. The U.S. Dollar advanced 0.1% to 96.13 yen, close to its 3-½-year high at 96.60 yen, it was
The Canadian Dollar rose by 0.1% to 1.0277 per the U.S. Dollar in the morning of Toronto trading session on Monday. The currency was pushed higher, as employment reports from the U.S. and Canada exceeded analysts' estimations. Improving labour market sparks speculation about a strengthening economic recovery.
The South African Rand depreciated by 0.9% to 9.1282 per the U.S. Dollar in the end of Johannesburg trading session on Monday. The Rand is one of the worst performers among emerging market currencies, as labour disputes threaten mining industry and thereby exports of coal. As a result, current account deficit may widen further.
The Brazilian Real dropped by 0.7% to 1.9572 per the U.S. Dollar by midday trading session in Sao Paulo on Monday. The currency depreciated after increasing to 1.9442 level on March 8, which was the highest point in last ten months. The Real decreases as the central bank intervened by selling 1 billion U.S. Dollar of reverse foreign exchange swaps.
Russian 15-year bonds increased by three basis points, or 0.03% percentage point, and reached 7.39% yield, which is a record high, since the bond started to trade in January. Domestic bond's yield surges, as inflation accelerated to 7.3% in February, comparing with month earlier. Also, higher interbank rates, made longer maturity bonds less profitable for local investors, as lending rate reached 6.27%
Industrial production in France declined well ahead of expectations in January due to the reason that second largest economy of Europe was on the edge of its third economic crisis within four years. Productivity from mines, factories and utilities contracted 1.2% in the month from December. According to economists' forecasts, the fall of 0.2% was expected. Decline in factory output
U.S. blue chips rose on Friday as the employment climbed more than expected and the jobless benefit applications fell surprisingly, showing growth signs in the U.S. labour market. The Dow Jones Index rose 0.5% to 14,397.07. 22 out of 30 companies posted gains in their share prices. Sectors rallying the most were consumer services and telecommunications. Walt Disney Co grew
The pair has been depreciating for a third straight trading session after an attempt to breach the major resistance level at 1.0326.
German shares erased their earlier gains, stepping down from their highest level in five years on speculation Fitch Ratings cut Italy's debt, outweighing positive data on European exports. The DAX Index tumbled 0.1% to 7,976.21 by 5:12 p.m. in Frankfurt. Six out of nine groups posted losses. Merck KGaA declined the most in the benchmark gauge, as it traded at
U.K. blue chips posted an increase after swinging between gains and losses, with the FTSE 100 Index extending its highest level in five years, mainly led by food and beverage shares. The FTSE 100 Index climbed 0.14% to 6,492.96. Six out of ten groups in the index edged higher with the telecommunication shares rising the most by 0.9%. Melrose Industries
Portugal's economy contracted at the fastest rate in the last three months of 2012, suggesting that the economy fell deeper into recession, a report released by the Statistics Portugal showed on Monday. Quarter-over-quarter, the Portuguese GDP shrank 1.8% in the Q4 following a 0.9% drop in the Q3 and a 1.0% decrease the quarter before. Annually, the economy slipped in
U.K. government bonds increased with 10-year yields slipping from its highest level in a two-week period after the Italian rating of its economy was downgraded by Fitch Ratings on Monday and investors sought the yields as a haven assets. The 10-year gilt yield dropped 0.05 percentage points, or five basis points, to 2.01% following a climb to the highest level
Sub-Saharan Africa will expand notably at a pace of 5.8% this year with the growth led by domestic demand, according to a report showed by the African Development Bank on Monday; however, the businesses should invest more to the region. The growth forecast by the AfDB is 6.2% when excluding South Africa, while the World Bank projected growth for the
According to the Paris-based Organization for Economic Cooperation and Development, the economic outlook of major industrialized economies is improving led by the world's largest economy and Japan, while the Eurozone is picking up as well. The organization's monthly leading indicator including all 33 countries of OECD advanced to a 17-month high at 100.4 in January from 100.3 the month before.