Sunday 27 March 2016

Forex - Yen weaker ahead of retail sales, jobs, household spending


Category: Forex


The yen eased in Asia on Monday with spending and jobs data ahead in Japan this week.USD/JPY changed hands at 113.48, up 0.32%, while AUD/USD traded at 0.7506, down 0.04%.In Japan, household spending for February is due on Tuesday with a fall of 1.5% seen year-on-year. At the same time, the unemployment rate is expected to hold steady at 3.2%, while retail sales are expected to show a 1.7% gain year-on-year.In the week ahead, investors will be awaiting Friday’s U.S. jobs report for March. The nonfarm payrolls report is viewed as the clearest indicator of how the U.S. economy is performing.Wednesday’s euro zone inflation report will also be in focus and investors will be closely watching Friday’s data on Chinese manufacturing and service sector activity.Markets in Australia, Hong Kong, London, Frankfurt, Paris and Milan will be closed for Easter Monday. Later on the day, the U.S. is to release reports on personal spending and pending home sales.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 96.17.Last week, the dollar edged higher against the other major currencies in thin trade on Friday as an upward revision to U.S. fourth quarter growth underpinned expectations for an interest rate increase in the coming months.The Commerce Department fourth quarter gross domestic product was revised up to an annualized 1.4% from last month’s estimate of 1% growth.Economists had expected an unchanged reading. The data came after hawkish comments by Federal Reserve officials earlier in the week raised the prospects that the central bank could act soon to raise interest rates.St. Louis Fed President James Bullard said on Wednesday that policymakers should consider a rate hike at their next meeting in April. Philadelphia Fed President Patrick Harker said that there is a strong case to continue to raise interest rates and added that he would like to see three rate hikes before the years end.Separately, Chicago Fed President Charles Evans said he expects two more rate hikes this year, if the economy remains on track.Higher interest rates would boost the dollar by making it more attractive to yield seeking investors.

NYMEX crude up in early Asia with producers meeting looming in April


Category: Commodities


Crude oil posted early gains in Asia with a key meeting on a proposal to freeze output by major producers looming next month.On the New York Mercantile Exchange, crude oil for delivery rose 0.81% to $39.77 a barrel.In the week ahead, oil traders will be focusing on U.S. stockpile data on Tuesday and Wednesday for fresh supply-and-demand signals.Developments surrounding a potential deal between OPEC and non-OPEC producers to cap output will also be in focus. Markets in Australia, Hong Kong, London, Frankfurt, Paris and Milan will be closed for Easter Monday.Later on Monday, the U.S. is to release reports on personal spending and pending home sales.Last week, oil futures settled lower on Thursday, as a massive build in U.S. crude inventories helped prices tally their first weekly loss in six weeks.The crude oil market remained closed Friday in observance of the Good Friday holiday.The U.S. benchmark came off the lowest levels of the session in late trade after oilfield services provider Baker Hughes said the number of rigs drilling for oil in the U.S. fell by 15 last week to 372. The report follows an increase of one rig the week before, which marked the first oil-rig count rise of the year.According to the U.S. Energy Information Administration, crude oil inventories rose by a more-than-expected 9.4 million barrels last week to an all-time high of 532.5 million barrels.Since falling to 13-year lows at $26.05 on February 11, U.S. crude futures have rebounded by approximately 45% as a decline in U.S. shale production boosted sentiment. However, analysts warned that market conditions remained weak due to an ongoing glut.Elsewhere, on the ICE Futures Exchange in London, Brent oil for May delivery shed 3 cents, or 0.07%, on Thursday to close at $40.44 a barrel, after slumping to a daily low of $39.22, a level not seen since March 16.Officials from the Paris-based International Energy Agency (IEA) admitted on Thursday that a highly anticipated output freeze between four major producers could essentially be "meaningless".Producers from the Organization of the Petroleum Exporting Countries and non-members are due to meet on April 17 in Qatar discuss the output freeze. But it isn’t clear exactly which, or how many, OPEC and non-OPEC members will attend the meeting.Brent futures are up by roughly 45%, since briefly dropping below $30 a barrel on February 11. Short-covering began in mid-February after Saudi Arabia and fellow OPEC members Qatar and Venezuela agreed with non-OPEC member Russia to freeze output at January levels, provided other oil exporters joined in.

Wednesday 23 March 2016

Gold holds gains in Asia on risk sentiment after Belgium bombings


Category: Commodities
Gold prices held mostly steady in Asia on Wednesday, retaining overnight gains linked to risk sentiment after deadly bombings in Belgium.Gold for April delivery on the Comex division of the New York Mercantile Exchange traded at $1,248.60 a troy ounce.Also on the Comex, silver futures for May delivery rose 0.09% to trade at $15.900 a troy ounce, while copper futures shed 0.13% to $2.289 a pound.Overnight, gold futures rallied in North American trade on Tuesday, as a series of explosions in Brussels sparked a wave of risk aversion, boosting appetite for safe-haven assets.Risk sentiment took a hit after explosions tore through the departure hall of Brussels airport on Tuesday morning killing at least 26 people and injuring 35 others and a second blast struck a metro station in the capital shortly afterwards.The blasts at the airport and metro station occurred four days after the arrest in Brussels of a suspected participant in November militant attacks in Paris that killed 130 people.

A day earlier, gold lost $10.10, or 0.81%, as investors digested comments from Federal Reserve officials on the timing of the next U.S. rate hike.Both San Francisco Fed President John Williams and Atlanta Fed President Dennis Lockhart said in separate news reports that a rate hike could come as early as next month. However, neither are voting members of the Federal Open Market Committee.On Tuesday, Chicago Fed President Charles Evans said as long as inflation is "underrunning" the Federal Reserve's 2% target, there is time to assess the global risks and hold off on raising rates again, as it is critical to get inflation up and even risk going above that level.While it is true the economy is close to full employment, with unemployment at 4.9% and expected to fall further this year, "we have room to see how this plays out," Evans said in a speech to the City Club of Chicago.Evans, who is not a voter on the policy-setting Federal Open MarketCommittee this year, said the FOMC's "cautionary pause" after the initial rate increase in December was the appropriate response to the "bumpy" start to 2016 and the risks to global economic and financial conditions.The U.S. central bank surprised markets last week by cutting its rate hike projections more than expected, down from four to two in 2016, citing the potential impact from weaker global growth and financial market turmoil on the U.S. economy.Investors and economists dialed back their own rate hike expectations in wake of the Fed’s surprisingly dovish outlook, with traders of interest-rate futures now seeing no rate rise before September. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.

Gold prices dip in Asia as investors take profits on overnight gains


Category: Commodities


Gold prices eased in Asia on Wednesday, trimming overnight gains linked to risk sentiment after deadly bombings in Belgium.Gold for April delivery on the Comex division of the New York Mercantile Exchange fell 0.92$ to $1,237.10 a troy ounce.Also on the Comex, silver futures for May delivery eased 0.76% to $15.765 a troy ounce, while copper futures shed 0.26% to $2.286 a pound.Overnight, gold futures rallied in North American trade on Tuesday, as a series of explosions in Brussels sparked a wave of risk aversion, boosting appetite for safe-haven assets.Risk sentiment took a hit after explosions tore through the departure hall of Brussels airport on Tuesday morning killing at least 26 people and injuring 35 others and a second blast struck a metro station in the capital shortly afterwards.The blasts at the airport and metro station occurred four days after the arrest in Brussels of a suspected participant in November militant attacks in Paris that killed 130 people.A day earlier, gold lost $10.10, or 0.81%, as investors digested comments from Federal Reserve officials on the timing of the next U.S. rate hike.Both San Francisco Fed President John Williams and Atlanta Fed President Dennis Lockhart said in separate news reports that a rate hike could come as early as next month. However, neither are voting members of the Federal Open Market Committee.


On Tuesday, Chicago Fed President Charles Evans said as long as inflation is "underrunning" the Federal Reserve's 2% target, there is time to assess the global risks and hold off on raising rates again, as it is critical to get inflation up and even risk going above that level.While it is true the economy is close to full employment, with unemployment at 4.9% and expected to fall further this year, "we have room to see how this plays out," Evans said in a speech to the City Club of Chicago. Evans, who is not a voter on the policy-setting Federal Open Market Committee this year, said the FOMC's "cautionary pause" after the initial rate increase in December was the appropriate response to the "bumpy" start to 2016 and the risks to global economic and financial conditions.The U.S. central bank surprised markets last week by cutting its rate hike projections more than expected, down from four to two in 2016, citing the potential impact from weaker global growth and financial market turmoil on the U.S. economy.Investors and economists dialed back their own rate hike expectations in wake of the Fed’s surprisingly dovish outlook, with traders of interest-rate futures now seeing no rate rise before September. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.

Sunday 20 March 2016

Gold prices fall as China views on economic policy parsed


Category: Commodities
Gold prices edged lower in Asia on Monday as policymakers in China at the weekend sought to reassure on the economic outlook, though the central bank chief advised caution on overseas borrowing.Gold for April delivery on the Comex division of the New York Mercantile Exchange ticked down 0.03% to $1,253.90 a troy ounce.Also on the Comex, silver futures eased 0.13% to $15.790 a troy ounce, while copper futures for May delivery dropped 0.35% at $2.278 a pound. China is the world's top copper importer and second major buyer of gold behind India.In the week ahead, market players will be turning their attention to Friday’s final reading on U.S. fourth quarter gross domestic product for fresh indications on the strength of the economy.Reports on U.S. durable goods orders and home sales will also be in focus, as investors attempt to gauge if the world's largest economy is strong enough to withstand further rate hikes in 2016.Investors will also be paying close attention to a number of speeches from key Fed officials this week, including James Bullard, Dennis Lockhart, Jeffrey Lacker, Charles Evans and Patrick Harker.

Last week, gold prices edged lower on Friday, as a recovery in the U.S. dollar and stronger global equity markets dented the metal’s safe-haven appeal, prompting market players to take profits after a sharp rally the day before.The Fed scaled back forecasts for how high interest rates will rise this year following the conclusion of its policy meeting on Wednesday, citing the potential impact from weaker global growth and financial market turmoil on the U.S. economy.Investors and economists dialed back their own rate hike expectations in wake of the Fed’s surprisingly dovish outlook, with traders of interest-rate futures now seeing no rate rise before September. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.Despite recent losses, prices of the yellow metal are up nearly 16% so far this year as investors seek safe havens in the face of mounting instability in other financial markets and as fears over a China-led global economic slowdown make it tougher for the Fed to raise rates.

Forex - Aussie weaker in early Asia with China policy views noted


Category: Forex
The Aussie held lower in early Asia on Monday in a light data day with weekend comments by policymakers out of China being parsed on prospects for monetary easing and stimulus.AUD/USD traded at 0.7594, down 0.18% with the currency closely linked th China's economic outlook, while USD/JPY changed hands at 111.54, down 0.01%.In the week ahead, market players will be turning their attention to Friday’s final reading on U.S. fourth quarter gross domestic product for fresh indications on the strength of the economy.Reports on U.S. durable goods orders and home sales will also be in focus, as investors attempt to gauge if the world's largest economy is strong enough to withstand further rate hikes in 2016.Traders will also be paying close attention to a number of speeches from key Fed officials this week, including James Bullard, Dennis Lockhart, Jeffrey Lacker, Charles Evans and Patrick Harker.Meanwhile, market players will be looking to Tuesday’s survey data on euro zone business activity as well as fresh readings on German economic sentiment for indications on the health of the region’s economy. U.K. consumer price inflation and retail sales data will also be in focus.Markets are closed Friday for Good Friday. Below-average trade volume in a holiday-shortened week could exacerbate any moves and increase volatility.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 95.08.Last week, the dollar recovered from a five-month low against a basket of the other major currencies on Friday, as investors bought back greenbacks ahead of the weekend following an aggressive selloff earlier in the week.The Fed scaled back forecasts for how high interest rates will rise this year following the conclusion of its policy meeting on Wednesday, citing the potential impact from weaker global growth and financial market turmoil on the U.S. economy.Investors and economists dialed back their own rate hike expectations in wake of the Fed’s surprisingly dovish outlook, with traders of interest-rate futures now seeing no rate rise before September.Against the yen, the greenback edged up off the prior session’s 17-month lows on Friday after Japanese Finance Minister Taro Aso said that he would closely watch foreign exchange market moves, sparking speculation that the Bank of Japan had intervened in currency markets.Earlier in the day, the minutes of the Bank of Japan’s January policy meeting showed that policymakers made two proposals, one to expand the bank's asset-buying program and another to add negative interest rates to asset purchases.According to the minutes, the BoJ eventually decided to adopt the negative interest rate policy after several members argued the move would help prevent external factors from delaying the eradication of Japan's "deflationary mindset".

China policy makers see steady growth, stable outlook in policy views


Category: Economic Indicators
China will maintain economic growth above 6.5% in each of the next five years, Xu Shaoshi, chairman of the National Development and Reform Commission, said at a forum Sunday, one of several policy statements made by leadership at the weekend on the economic outlook."China's economic growth will continue to develop in a stable and healthy manner," Xu said at the China Development Forum."Over the next five years, our economic growth will keep above 6.5% each year. We will strengthen coordination at the forefront of fiscal policy, monetary policy, industrial policy, investment policy and prices policy."As well, People's Bank of China Governor Zhou Xiaochuan said China needs to avoid the danger of building up too much short-term debt in foreign currencies, speaking on the sidelines of the China Development Forum."In the future we have to avert excessive external borrowing and the currency mismatch that could result. With an eye on the global capital flow situation, we encourage mid- to long-term investment. But we do not encourage short-term speculation."At the same event, Wu Xiaoling, vice chairwoman of the Financial and Economic Affairs Committee of the National People's Congress and a former deputy governor of the People's Bank of China said the country is working on its financial problems and has them under under control but the side effects of global monetary loosening policies are the big worry, Chinese financial officials said at a forum on the weekend."While financial risks do exist in China's banking system, risks from bad debts will not rise systematically," she said."What we worry about is the global reliance on monetary loosening."

Saturday 19 March 2016

Colombia stocks higher at close of trade; COLCAP up 0.35%


Category: Stock Market
Colombia stocks were higher after the close on Friday, as gains in the Investment, Services and Agriculture sectors led shares higher.At the close in Colombia, the COLCAP gained 0.35%.The best performers of the session on the COLCAP were Cemargos (CN:CCB), which rose 4.83% or 520.0 points to trade at 11280.0 at the close. Meanwhile, Pfgrupoarg (CN:ARG_p) added 3.53% or 600.0 points to end at 17600.0 and Cemex Latam Holdings SA (CN:CLH) was up 2.52% or 300.0 points to 12200.0 in late trade.The worst performers of the session were Pacific Rubiales Energy Corp (CN:PRU), which fell 20.10% or 400.0 points to trade at 1590.0 at the close. Canacol Energy Ltd (CN:CNE) declined 4.03% or 330.0 points to end at 7850.0 and Banco De Bogota SA (CN:BBO) was down 3.57% or 2160.0 points to 58400.0.Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 15 to 12 and 3 ended unchanged.Shares in Cemargos (CN:CCB) rose to 52-week highs; gaining 4.83% or 520.0 to 11280.0.US coffee C for May delivery was up 0.54% or 0.72 to $133.72 . Elsewhere in commodities trading, US cocoa for delivery in May rose 0.40% or 12.50 to hit $3119.00 , while the April Gold contract fell 0.78% or 9.90 to trade at $1255.10 a troy ounce.USD/COP was unchanged 0.00% to 3073.00, while BRL/COP rose 1.33% to 858.38.The US Dollar Index was up 0.32% at 95.07.

Russia stocks higher at close of trade; MICEX up 1.23%


Category: Stock Market
Russia stocks were higher after the close on Friday, as gains in the Mining, Oil&Gas and Power sectors led shares higher.At the close in Moscow, the MICEX gained 1.23% to hit a new 5-year high.The best performers of the session on the MICEX were E.ON Russia (MCX:EONR), which rose 7.10% or 0.1810 points to trade at 2.7310 at the close. Meanwhile, Magnit (MCX:MGNT) added 4.59% or 500.0 points to end at 11400.0 and FSK EES (MCX:FEES) was up 3.87% or 0.0028 points to 0.0765 in late trade.The worst performers of the session were MVideo (MCX:MVID), which fell 5.28% or 14.00 points to trade at 251.30 at the close. AK Transneft OAO Pref (MCX:TRNF_p) declined 4.03% or 7500 points to end at 178600 and Surgut-pref (MCX:SNGS_p) was down 3.66% or 1.655 points to 43.550.Rising stocks outnumbered declining ones on the Moscow Stock Exchange by 130 to 94 and 18 ended unchanged.Shares in FSK EES (MCX:FEES) rose to 52-week highs; up 3.87% or 0.0028 to 0.0765.The Russian VIX, which measures the implied volatility of MICEX options, was up 0.20% to 34.970 a new 1-month low.Gold for April delivery was down 0.81% or 10.30 to $1254.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April unchanged 0.00% or 0.00 to hit $40.20 a barrel, while the May Brent oil contract fell 0.82% or 0.34 to trade at $41.20 a barrel.USD/RUB was up 0.69% to 68.5456, while EUR/RUB rose 0.04% to 77.287.The US Dollar Index was up 0.27% at 95.03.

Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.17%


Category: Stock Market
Denmark stocks were lower after the close on Friday, as losses in the Financials, Oil&Gas and Consumer Goods sectors led shares lower.At the close in Copenhagen, the OMX Copenhagen 20 declined 0.17%.The best performers of the session on the OMX Copenhagen 20 were A.P. Moller - Maersk A (CO:MAERSKa), which rose 2.66% or 230 points to trade at 8885 at the close. Meanwhile, A.P. Moller - Maersk B (CO:MAERSKb) added 2.54% or 225 points to end at 9090 and FLSmidth&Co. (CO:FLS) was up 2.07% or 5.4 points to 266.2 in late trade.The worst performers of the session were Nordea Bank AB (CO:NDA), which fell 5.57% or 3.90 points to trade at 66.15 at the close. Danske Bank A/S (CO:DANSKE) declined 4.95% or 9.6 points to end at 184.5 and William Demant Holding (CO:WDH) was down 1.70% or 11.0 points to 635.5.Rising stocks outnumbered declining ones on the Copenhagen Stock Exchange by 68 to 66 and 22 ended unchanged.Crude oil for April delivery was unchanged 0.00% or 0.00 to $40.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in May fell 0.67% or 0.28 to hit $41.26 a barrel, while the April Gold contract fell 0.85% or 10.70 to trade at $1254.30 a troy ounce.USD/DKK was up 0.36% to 6.6104, while EUR/DKK fell 0.02% to 7.4523.The US Dollar Index was up 0.30% at 95.05.

Thursday 17 March 2016

EUR/USD surges to 5-month high, as investors digest dovish Fed policy


Category: Forex


Investing.com -- EUR/USD extended sharp gains from the previous session surging to five-month highs, as foreign exchange traders continued to digest a dovish monetary policy decision from the Federal Reserve 24 hours earlier.The currency pair traded in a broad range between 1.1206 and 1.1343, before settling at 1.1317, up 0.88% on the session. At session-highs, the euro soared to its strongest level against the dollar since mid-October. The developments may be unsettling for Mario Draghi and his colleagues at the European Central Bank, whose efforts to depress the euro as a means for boosting exports are increasing appearing futile. Since the ECB's Governing Council approved a wide range of easing measures last week, the euro has jumped nearly 3% against the dollar.EUR/USD likely gained support at 1.0538, the low from December 3 and was met with resistance at 1.1496, the high from Oct. 15.The euro rose considerably versus the dollar on Thursday, one day after the Federal Open Market Committee (FOMC) maintained the target range on its benchmark Federal Funds Rate at a level between 0.25 and 0.50%. The Fed concluded its two-day March meeting without adjusting rates, amid heightened global financial and economic risks and moderate firming of inflation. It marked the second consecutive meeting the FOMC left short-term rates unchanged, after the U.S. central bank ended a seven-year zero interest rate policy by raising rates 25 basis points in mid-December.More importantly, the FOMC cut its rate outlook for the next 21 months lowering its 2016 forecast by 50 basis points to 0.88% and 50 basis points by the end of next year to 1.88%. Implicitly, the Fed's updated forecast suggests that the FOMC could raise rates only twice this year, down from previous estimates of four. 


On Thursday, the Federal Reserve Bank of New York held the Federal Funds Rate at 0.37%. The effective Fed Funds Rate traded in between 0.35 and 0.50%, as $67 billion in trades were exchanged.The dollar has fallen by more than 8% against the euro bloc currency over the last year when markets awaited lift-off from the Fed."In a world with highly-integrated capital markets, monetary policy actions in any country have affects, spillovers to other countries," Fed chair Janet Yellen said at a press conference on Wednesday."That's true of our monetary policy, and it's true of other countries' monetary policies. In part, that shows up through movements in exchange rates, and those movements are a factor that any country needs to take into account in deciding what is the appropriate stance of monetary policy.""So, the fact that there are these linkages is an important factor in designing a monetary policy. But it does not mean that monetary--US monetary policy is somehow constrained in a way that makes it impossible for our monetary policy to diverge from policies abroad," Yellen added. "And at this point, it's natural that there should be some divergence in our monetary policies. Movements in exchange rates partly reflect that."Any rate hikes this year are viewed as bullish for the dollar, as foreign investors pile into the greenback in order to capitalize on higher yields.Also on Thursday, the labor market remained steady as new claims ticked up by 7,000 last week to 265,000, remaining near record lows. At 268,000, the four-week average also stayed relatively low.The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, fell more than 1% to an intraday low of 94.67, before inching up to 94.77 at the close.

Bank of Japan minutes show sharp debate on negative rates


Category: Economic Indicators


The Bank of Japan board had a sharp debate on whether to follow some European central banks and add negative interest rates to its aggressive monetary easing program, leading to a tight 5 to 4 vote on adopting the new policy, the minutes of the bank's Jan. 28-29 meeting released Friday showed."Many members expressed the view that introduction of QQE (quantitative and qualitative easing) with a Negative Interest Rate was desirable to preempt manifestation of the risk that the underlying trend in inflation might be negatively affected and to maintain momentum toward achieving the price stability target of 2%," they said."On the other hand, some other members expressed the view that, although risks emanating from developments in global financial markets were tilted to the downside, Japan's economic activity and prices had not deteriorated to the extent where additional easing measures were necessary."Governor Haruhiko Kuroda, who chaired the board meeting, asked its staff to show possible policy options, the minutes said, adding those included an expansion of QQE that consisted of an acceleration in the paces of increase in the monetary base and in asset purchases; and introduction of QQE with a Negative Interest Rate.


At the January meeting, unstable global financial markets and depressed crude oil prices led the board to delay the estimated timing of achieving 2% inflation by six months for the third time in the past 10 months and adopt a potentially contradictory negative interest rate policy.Four of the nine BOJ board members voted against the idea of charging 0.1% interest on a small portion of excess reserves parked by lenders at the central bank, questioning the stimulative effect of the new policy and warning against its side effects.Board member Sayuri Shirai told the meeting that "introducing a negative interest rate immediately after the introduction of supplementary measures for QQE (in December) might be misunderstood as reaching a limit to the bank's asset purchases."Takehiro Sato thought "a negative interest rate should be introduced when the bank slows down the pace of increase in the monetary base" while Takahide Kiuchi pointed that "introduction of a negative interest rate, which would adversely affect smooth conduct of the bank's JGB purchases, would only be an appropriate policy measure in a crisis situation."

Gold gains in Asia as BoJ minutes show sharp debate over easy policy


Category: Commodities


Gold prices gained in Asia on Friday with minutes from the Bank of Japan casting a shadow on easy monetary policies.On the Comex division of the New York Mercantile Exchange, gold for April delivery rose 0.17% to $1,267.00 a troy ounce.Silver futures for May delivery rose 0.4% to $16.055 a troy ounce, while copper futures for May delivery edged up 0.31% to $2.295 a pound.The Bank of Japan board had a sharp debate on whether to follow some European central banks and add negative interest rates to its aggressive monetary easing program, leading to a tight 5 to 4 vote on adopting the new policy, the minutes of the bank's Jan. 28-29 meeting released Friday showed.Overnight, gold built on gains from the previous day's surge on Thursday, as investors continued to react to a surprising move from the Federal Reserve to lower its interest rate forecast for the near-term future.Gold rose considerably on Thursday, one day after the Federal Open Market Committee (FOMC) maintained the target range on its benchmark Federal Funds Rate at a level between 0.25 and 0.50%. 


The Fed concluded its two-day March meeting without adjusting rates, amid heightened global financial and economic risks and moderate firming of inflation. It marked the second consecutive meeting the FOMC left short-term rates unchanged, after the U.S. central bank ended a seven-year zero interest rate policy by raising rates 25 basis points in mid-December.More importantly, the FOMC cut its rate outlook for the next 21 months lowering its 2016 forecast by 50 basis points to 0.88% and 50 basis points by the end of next year to 1.88%. Implicitly, the Fed's updated forecast suggests that the FOMC could raise rates only twice this year, down from previous estimates of four. On Thursday, the Federal Reserve Bank of New York held the Federal Funds Rate at 0.37%. The effective Fed Funds Rate traded in between 0.35 and 0.50%, as $67 billion in trades were exchanged.Any rate hikes this year are viewed as bearish for gold, which struggles to compete with high-yield bearing assets in rising rate environments.Also on Thursday, the labor market remained steady as new jobless claims ticked up by 7,000 to 265,000. At 268,000, the four-week average stayed relatively low.

Wednesday 16 March 2016

Australian unemployment rate 5.8% vs. 6.0% forecast


Category: Economic Indicators
Australia’s unemployment rate fell unexpectedly last month, official data showed on Thursday.In a report, Australian Bureau of Statistics said that Australian unemployment rate fell to a seasonally adjusted 5.8%, from 6.0% in the preceding month.Analysts had expected Australian unemployment rate to remain unchanged at 6.0% l

Forex - Yen weaker in Asia after trade data, Fed, Aussie jobs ahead


Category: Forex
The yen held weaker in Asia on Thursday after trade data from Japan and the Aussie was a tad weaker before jobs data with investors noting caution by the Fed in the latest monetary policy review.USD/JPY changed hands at 112.75, down 0.17%, while AUD/USD traded at 0.7549, down 0.03% after RBA deputy governor Guy Debelle suggested a weaker exchange rate would be welcome.In Japan, the adjusted trade balance for February came in at a surplus of $170 billion, narrower than the Y240 billion seen. Exports fell 4.0% year-on-year, more than the 3.1% drop seen, and imports slumped 14.2%, a bit less than the 15.2% expected.Earlier, New Zealand said fourth quarter GDP rose 0.9% quarter-on-quarter, beating the 0.6% gain expected.Ahead Australia jobs data is due.The Federal Reserve lowered expectations for rate hikes this year bringing their forecast more in line with market expectations as they held off on raising their policy rate at the latest Federal Open Market meeting on Wednesday.

As expected the Federal Open Market Committee left rates unchanged at the 0.25% to 0.50% range at the end of their two-day meeting, but made a few changes to the post-meeting statement and downgrades to their accompanying economic forecasts.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 95.80, up 0.10%.Overnight, ahead of the meeting, the dollar pushed higher against the other major currencies on Wednesday, after the release of mixed U.S. data.The U.S. Commerce Department said that housing starts rose 5.2% in February to hit 1.178 million units from January’s total of 1.120 million units. Analysts had expected a rise 4.6% to 1.150 million. Meanwhile, the number of building permits issued declined 3.1% to 1.202 million units last month from January’s 1.204 million. Economists had forecast a drop of 0.1% to 1.167 million units in February.A separate report showed that the U.S. consumer price index fell by 0.2% in February, matching expectations. Year-over-year, consumer prices were 1.0% higher.Core CPI, which excludes food and energy, increased at annualized rate of 2.3% last month, compared to expectations for a 2.2% gain.Data also showed that U.S. industrial production decreased by 0.5% last month, worse than expectations for a decline of 0.2%.

Tuesday 15 March 2016

Forex - Aussie gains slightly in Asia, eyes on upcoming Fed review


Category: Forex
The Aussie gained slightly in early Asia on Wednesday in a light data day with investors looking ahead to the Federal Reserve's latest review of interest rates expected to hold steady but offer fresh comment on the likely track.AUD/USD traded at 0.7461, up 0.04%, while USD/JPY changed hands at 113.10, down 0.04%. NZD/USD rose 0.15% to 0.6611.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.06% at 96.66.The MI leading index in Australia fell 0.2% from a 0.1% gain in the previous month.Earlier, the the fourth current account deficit in New Zealand came in at NZ$2.61 billion quarter-on-quarter and at NZ$7.71 billion year-on-year, narrower than expected in both cases.Overnight, the dollar held steady against the other major currencies on Tuesday, after the release of downbeat U.S. data as investors returned their attention to the Federal Reserve’s policy statement on Wednesday.The U.S. Commerce Department earlier reported that retail sales fell 0.1% last month, better than expectations for a decline of 0.2%.Core retail sales, which exclude automobile sales, declined by 0.1% in February, compared to forecasts for a fall of 0.2%. 

A separate report showed that the U.S. producer price index fell 0.2% last month, in line with the forecasts. Year-over-year, producer prices were flat, compared to expectations for a 0.1% increase.Core PPI, which excludes food and energy, was also flat in February, below forecasts for a gain of 0.1%.At the same time, the Federal Reserve Bank of New York said that its general business conditions index improved to 0.6 this month from a reading of -16.6 in February. Analysts had expected the index to rise to -10.0 in March.The yen was boosted after the Bank of Japan made no change to monetary policy, in a widely anticipated decision, as it assesses the economic impact of its decision in January to deploy negative interest rates.The BoJ maintained its ¥80 trillion base money target and a 0.1% negative interest rate it applies to some reserves.But the bank also flagged weakness in exports and output due to slowing growth in emerging economies, indicating that more stimulus may be needed in the future

U.S. API Weekly Crude Stock 1.500M vs. 3.400M forecast


Category: Economic Indicators
U.S. API weekly crude stocks rose less-than-expected last week, official data showed on Tuesday.In a report, American Petroleum Institute said that U.S. API Weekly Crude Stock rose to 1.500M, from 4.400M in the preceding week.Analysts had expected U.S. API Weekly Crude Stock to rise 3.400M last week

Monday 14 March 2016

Forex - Aussie slightly weaker ahead of minutes, BoJ review ahead


Category: Forex
The Aussie held slightly weaker in early Asia on Tuesday ahead of central bank minutes while investors also awaited the latest monetary review from Japan.AUD/USD traded at 0.7513, down 0.03%, while USD/JPY changed hands at 113.80, down 0.03%.The Reserve Bank of Australia will release monetary policy meeting minutes from its March review at which it held steady at a record low 2.0%.As well, the Bank of Japan is slated to announce its latest review of monetary policy with investors expecting no changes to the quantitative target of ¥80 trillion.


The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted up 0.39% to 96.60.Overnight, the dollar remained broadly higher against the other major currencies on Monday, as investors continued to focus on the Federal Reserve’s upcoming policy meeting this week.The single currency remained under pressure after the European Central Bank cut interest rates across the euro zone to new record lows and boosted its quantitative easing program last Thursday.The ECB cut its benchmark interest rate to a record-low of zero from 0.05% and boosted its quantitative easing program by €20 billion per month to €80 billion, starting in April.The Fed is not widely expected to raise interest rates at the conclusion of its meeting on Wednesday, given recent signs of weakness in the global economy.But the U.S. central bank was likely to signal that rates will rise fairly soon as long as U.S. inflation and jobs continue to strengthen.

Mexico stocks lower at close of trade; IPC down 0.10%


Category: Stock Market
Mexico stocks were lower after the close on Monday, as losses in the Telecoms Services, Healthcare and Financial Services sectors led shares lower.At the close in Mexico, the IPC fell 0.10%.The best performers of the session on the IPC were Empresas ICA , S.A.B. De C.V. (MX:ICA), which rose 3.55% or 0.150 points to trade at 4.360 at the close. Meanwhile, Arca Continental , S.A.B. De C.V. (MX:AC) added 2.32% or 2.590 points to end at 113.910 and Mexichem , S.A.B. De C.V. (MX:MEXCHEM) was up 1.98% or 0.820 points to 42.240 in late trade.


The worst performers of the session were Kimberly - Clark De Mexico A (MX:KIMBERA), which fell 1.84% or 0.740 points to trade at 39.410 at the close. Infraestructura Energetica Nova SAB (MX:IENOVA) declined 1.74% or 1.26 points to end at 71.48 and Genomma Lab Internacional SAB De CV (MX:LABB) was down 1.49% or 0.180 points to 11.970.Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 92 to 68 and 12 ended unchanged.Gold for April delivery was down 1.87% or 23.60 to $1235.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April fell 3.17% or 1.22 to hit $37.28 a barrel, while the May Brent oil contract fell 2.01% or 0.81 to trade at $39.58 a barrel.USD/MXN was up 0.28% to 17.7447, while EUR/MXN fell 0.18% to 19.7055.The US Dollar Index was up 0.38% at 96.59.

Sunday 13 March 2016

Chinese industrial production 5.4% vs. 5.6% forecast


Category: Economic Indicators


Industrial production in China fell more-than-expected last month, official data showed on Saturday.In a report, National Bureau of Statistics of China said that Chinese Industrial Production fell to 5.4%, from 5.9% in the preceding month.Analysts had expected Chinese Industrial Production to fall to 5.6% l

Chinese retail sales 10.2% vs. 10.8% forecast

Retail sales in China fell more-than-expected last month, official data showed on Saturday.In a report, National Bureau of Statistics of China said that Chinese Retail Sales fell to an annual rate of 10.2%, from 11.1% in the preceding month.Analysts had expected Chinese Retail Sales to fall to 10.8% l

Friday 11 March 2016

Mexico stocks higher at close of trade; IPC up 0.48%

Mexico stocks were higher after the close on Friday, as gains in the Materials, Telecoms Services and Healthcare sectors led shares higher.At the close in Mexico, the IPC rose 0.48%.The best performers of the session on the IPC were Genomma Lab Internacional SAB De CV (MX:LABB), which rose 3.07% or 0.360 points to trade at 12.080 at the close. Meanwhile, America Movil L , S.A.B. De C.V. (MX:AMXL) added 2.61% or 0.340 points to end at 13.370 and Industrias Penoles Sab De CV (MX:PENOLES) was up 2.35% or 5.210 points to 226.890 in late trade.The worst performers of the session were Grupo LALA SA de CV (MX:LALAB), which fell 1.72% or 0.74 points to trade at 42.35 at the close. Empresas ICA , S.A.B. De C.V. (MX:ICA) declined 2.33% or 0.100 points to end at 4.190 and Coca-Cola Femsa, S.A.B. De C.V. (MX:KOFL) was down 1.06% or 1.460 points to 135.690.Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 86 to 54 and 14 ended unchanged.Gold for April delivery was down 1.45% or 18.40 to $1254.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 1.74% or 0.66 to hit $38.50 a barrel, while the May Brent oil contract rose 0.90% or 0.36 to trade at $40.41 a barrel.USD/MXN was down 0.70% to 17.6864, while EUR/MXN fell 0.89% to 19.7162.The US Dollar Index was up 0.03% at 96.22.

U.S. crude surges to 2016 high, as rig count falls to lowest level ever

U.S. crude futures jumped to their highest level on the calendar year, extending their month-long rally from multi-year lows, as the domestic rig count last week fell to its lowest level on record.On the New York Mercantile Exchange, WTI crude for April delivery traded in a broad range between $37.92 and $39.02 a barrel, before settling at 38.50, up 0.66 or 1.74% on the session. At session-highs, the front month contract for U.S. crude reached its highest level since early-December. Over the last month, WTI crude has soared more than 35%, rallying sharply from 13-year lows from mid-February.On the Intercontinental Exchange (ICE), brent crude for May delivery wavered between $40.02 and $41.03 a barrel, before closing at 40.40, up 0.35 or 0.87% on the session. North Sea crude futures are also trading near 2-month highs after surging more than 27% over the last four weeks.On Friday afternoon, oil services firm Baker Hughes said the total number of U.S. oil rigs fell by nine to 480 for the week ending on March 4. Previously, the lowest total on record came on April 23, 1999 when the rig count total dipped to 488. Separately, the total of active U.S. oil drilling rigs fell by six to 386, marking the 12th consecutive week of weekly declines.Major reductions in the number of oil rigs nationwide typically provide lagging indications that production is about to level off. Last week, U.S. crude production ticked up by 1,000 barrels per day to 9.078 million bpd, halting a skid of six consecutive weekly declines. Last June, U.S. crude output hovered around 9.6 million bpd, its highest level in at least 40 years.Crude prices have plummeted more than 50% since OPEC roiled global markets in November, 2014, with a strategic decision to maintain its production ceiling above 30 million barrels per day. The tactic triggered a prolonged battle with U.S. shale producers for market share, flooding global energy markets with excessive supply.Elsewhere, crude received further upside support on Friday after the Paris-based International Energy Agency (IEA) provided indications that the prolonged rout in oil may have hit a bottom. In a monthly forecast, the IEA said that non-OPEC output would decline by 750,000 bpd in 2016, up from previous estimates of 600,000."There are clear signs that market forces…are working their magic and higher-cost producers are cutting output," the IEA said in the report.The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, was relatively flat in U.S. afternoon trading at 96.14, down 0.05% on the session. The index, which is down more than 2% over the last two months, fell to fresh three-and-a-half-week lows on Thursday.Dollar-denominated commodities such as crude become more expensive for foreign purchasers when the dollar appreciates.

Wednesday 9 March 2016

Forex - Aussie holds steady, kiwi moves lower vs. greenback


Category: Forex


The Australian dollar was little changed against its U.S. counterpart on Wednesday, after the release of downbeat Australian consumer sentiment data, while the New Zealand dollar slipped lower amid ongoing global growth worries.AUD/USD was little changed at 0.7431.The Westpac Banking Corporation said Australia’s consumer sentiment fell 2.2% in March, after a 4.2% increase the previous month.A separate report showed that home loans in Australia declined by 3.9% in January, compared to expectations for a 2.3% fall. Home loans rose 2.7% in December, whose figure was revised from a previously estimated 2.6% gain.NZD/USD fell 0.21% to trade at 0.7431.Market sentiment remained under pressure after data on Tuesday showed that China’s exports tumbled 25.4% from a year earlier to $126.1 billion in February. Economists had expected a decline of 12.5%.Imports fell 13.8% year-on-year, slowing from January’s 18.8% tumble.Investors were also eyeing the Reserve Bank of New Zealand’s interest rate decision due on Thursday.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.21% at 97.36, off the previous session’s two-week low of 96.89.

Philippines stocks higher at close of trade; PSEi Composite up 0.47%


Category: Stock Market


Philippines stocks were higher after the close on Wednesday, as gains in the Property, Banking&Financials and Industrials sectors led shares higher.At the close in Philippines, the PSEi Composite added 0.47%.The best performers of the session on the PSEi Composite were Megaworld Corp (PS:MEG), which rose 5.17% or 0.200 points to trade at 4.070 at the close. Meanwhile, Metropolitan B (PS:MBT) added 3.23% or 2.50 points to end at 80.00 and San Miguel Cor (PS:SMC) was up 2.08% or 1.600 points to 78.600 in late trade.The worst performers of the session were Bloomberry Res (PS:BLOOM), which fell 3.97% or 0.190 points to trade at 4.600 at the close. Philex Mining (PS:PX) declined 2.62% or 0.170 points to end at 6.330 and Dmci Holdings (PS:DMC) was down 0.77% or 0.100 points to 12.880.Rising stocks outnumbered declining ones on the Philippines Stock Exchange by 101 to 76 and 28 ended unchanged.Shares in San Miguel Cor (PS:SMC) rose to 52-week highs; rising 2.08% or 1.600 to 78.600.Gold for April delivery was down 0.45% or 5.70 to $1257.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.25% or 0.09 to hit $36.59 a barrel, while the May Brent oil contract rose 0.20% or 0.08 to trade at $39.73 a barrel.CNY/PHP was down 0.33% to 7.1926, while USD/PHP fell 0.17% to 46.860.The US Dollar Index was up 0.28% at 97.43.

Stronger dollar weighs on gold ahead of ECB meeting


Category: Commodities


Gold futures were lower in European trade on Wednesday, as the dollar strengthened against the euro amid expectations the European Central Bank will almost certainly ease monetary policy this week.The dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.2% to 97.36 during European morning hours, bouncing off the prior session’s more than two-week low of 96.88.The euro fell to 1.0962 against the greenback after climbing to 1.1057 on Tuesday as the ECB is widely expected to cut rates further into negative territory at the conclusion of its monetary policy review on Thursday.The bank is also expected to enlarge its asset purchasing program in a bid to combat persistently low levels of inflation in the euro area.Gold for April delivery on the Comex division of the New York Mercantile Exchange shed $5.30, or 0.42%, to trade at $1,257.60 a troy ounce by 09:00GMT, or 4:00AM ET. A day earlier, gold rallied to $1,279.00 before turning lower to end at $1,262.90, down $1.10, or 0.09%.Prices of the yellow metal have been well-supported in recent weeks amid growing speculation the Federal Reserve will not raise interest rates as soon as next week's policy meeting.Gold hit a 13-month high of $1,280.70 last Friday, after U.S. employment data showed strong jobs growth combined with low wages, prompting investors to scale back expectations on how fast and how far the Fed might raise rates this year.Prices of the yellow metal are up nearly 18% so far this year as investors seek safe havens in the face of mounting instability in other financial markets.Also on the Comex, silver futures for March delivery dipped 1.9 cents, or 0.12%, to trade at $15.36 a troy ounce during morning hours in London.Elsewhere in metals trading, copper futures eased up 0.8 cents, or 0.36%, to $2.230 a pound.Prices of the red metal fell nearly 3% on Tuesday as the latest trade figures out of China added to concerns over the health of the world's second-biggest economy.Exports plunged 25.4% from a year earlier in February, far worse than forecasts for a decline of 12.5% and the worst monthly performance since May 2009, while imports dropped 13.8%, compared to expectations for a fall of 10.0%.The Asian nation is the world’s largest copper consumer, accounting for nearly 45% of world consumption.

Tuesday 1 March 2016

NYMEX crude falls in Asia as API build more than expected


Category: Commodities


Crude oil futures fell on Wednesday in Asia after industry data showed a larger expected build in U.S. stockpiles.On the New York Mercantile Exchange, WTI crude for April delivery dropped 1.25% to $33.97 a barrel.U.S. API weekly crude stocks rose more-than-expected last week, the American Petroleum Institute said late Tuesday, up 9.9 million barrels, compared to a 7.1 million barrels build in the preceding week and well above the 2.5 million barrels gain seen.U.S. weekly distillates stocks rose 2.7 million barrels, while the weekly gasoline stocks dropped 2.2 million barrels.Later on Wednesday the U.S. Energy Information Administration (EIA) releases its Weekly Petroleum Status Report and analysts are bracing for a 3.5 million build in stockpiles for the week ending on Feb. 26.A week earlier crude inventories rose by 3.5 million barrels to an all-time high of 507.6 million, as storage levels at the nation's top facilities continue to approach full capacity.At the same time, oil services firm Baker Hughes said last Friday that the number of oil rigs nationwide fell by 13 to 400 for the week ending on Feb. 19, marking its 10th straight week of declines.While U.S. shale producers have demonstrated surprising resiliency by drilling at near maximum efficiency, falling rig counts typically provide lagging signals of imminent declines in output. As markets worldwide remain awash in a glut of oversupply, any major production cuts are viewed as bullish for crude.Overnight, crude futures closed moderately higher on a choppy day of trading, as investors weighed the possibility that U.S. shale producers could be on the verge of cutting output with the increasing likelihood that OPEC may resist cutting production for the remainder of the year.On the Intercontinental Exchange, Brent crude for May delivery traded between $35.95 and $37.24 a barrel, before closing at $36.85, up 0.28 or 0.74% on the session. North Brent Sea futures have also jumped by more than 15% since falling below $30 a barrel on February 11.U.S. crude futures briefly fell below $33.50 a barrel on Tuesday, as investors reacted to bearish reports that OPEC could leave its production ceiling at near-record highs for at least the next several months. When OPEC convenes in Vienna for its semi-annual meeting, it is unlikely that the world's largest oil cartel will complete any drastic steps to cut production, according to OPEC sources and delegates surveyed by Reuters.Crude prices have tumbled more than 60% over the last 15 months since OPEC rattled global energy markets with a shocking decision to maintain production above 30 million barrels per day at a meeting in November, 2014.On Monday, crude futures rose more than 3% after a Reuters survey indicated that OPEC production in February fell by 28,000 bpd to 32.37 million bpd, amid a disruption at a major pipeline in Iraq. OPEC sources, according to Reuters, disclosed that the group is hesitant to cut production until it receives more clarity on Iran's long-awaited return to global markets. Last month, Iran ramped up its exports to 1.75 million bpd, the survey found.

NYMEX crude down in Asia as API data weighs, U.S. DoE ahead


Category: Commodities


Crude oil futures fell on Wednesday in Asia after industry data showed a larger expected build in U.S. stockpiles.On the New York Mercantile Exchange, WTI crude for April delivery dropped 0.93% to $34.08 a barrel. Brent crude eased 0.19% to $36.74 a barrel.U.S. API weekly crude stocks rose more-than-expected last week, the American Petroleum Institute said late Tuesday, up 9.9 million barrels, compared to a 7.1 million barrels build in the preceding week and well above the 2.5 million barrels gain seen.U.S. weekly distillates stocks rose 2.7 million barrels, while the weekly gasoline stocks dropped 2.2 million barrels.Later on Wednesday the U.S. Energy Information Administration (EIA) releases its Weekly Petroleum Status Report and analysts are bracing for a 3.5 million build in stockpiles for the week ending on Feb. 26.A week earlier crude inventories rose by 3.5 million barrels to an all-time high of 507.6 million, as storage levels at the nation's top facilities continue to approach full capacity.At the same time, oil services firm Baker Hughes said last Friday that the number of oil rigs nationwide fell by 13 to 400 for the week ending on Feb. 19, marking its 10th straight week of declines.While U.S. shale producers have demonstrated surprising resiliency by drilling at near maximum efficiency, falling rig counts typically provide lagging signals of imminent declines in output. As markets worldwide remain awash in a glut of oversupply, any major production cuts are viewed as bullish for crude.Overnight, crude futures closed moderately higher on a choppy day of trading, as investors weighed the possibility that U.S. shale producers could be on the verge of cutting output with the increasing likelihood that OPEC may resist cutting production for the remainder of the year.On the Intercontinental Exchange, Brent crude for May delivery traded between $35.95 and $37.24 a barrel, before closing at $36.85, up 0.28 or 0.74% on the session. North Brent Sea futures have also jumped by more than 15% since falling below $30 a barrel on February 11.U.S. crude futures briefly fell below $33.50 a barrel on Tuesday, as investors reacted to bearish reports that OPEC could leave its production ceiling at near-record highs for at least the next several months. When OPEC convenes in Vienna for its semi-annual meeting, it is unlikely that the world's largest oil cartel will complete any drastic steps to cut production, according to OPEC sources and delegates surveyed by Reuters.Crude prices have tumbled more than 60% over the last 15 months since OPEC rattled global energy markets with a shocking decision to maintain production above 30 million barrels per day at a meeting in November, 2014.On Monday, crude futures rose more than 3% after a Reuters survey indicated that OPEC production in February fell by 28,000 bpd to 32.37 million bpd, amid a disruption at a major pipeline in Iraq. OPEC sources, according to Reuters, disclosed that the group is hesitant to cut production until it receives more clarity on Iran's long-awaited return to global markets. Last month, Iran ramped up its exports to 1.75 million bpd, the survey found.

Swiss GDP 0.4% vs. 0.2% forecast


Category: Economic Indicators


Switzerland’s gross domestic product rose more-than-expected in the last quarter, official data showed on Wednesday.In a report, Federal Statistical Office said that Swiss GDP rose to a seasonally adjusted 0.4%, from -0.1% in the preceding quarter.Analysts had expected Swiss GDP to rise 0.2% in the last quarter

Indonesian CPI 4.42% vs. 4.35% forecast


Category: Economic Indicators


Consumer price inflation in Indonesia rose more-than-expected last month, industry data showed on Tuesday.In a report, Statistics Indonesia said that Indonesian Inflation rose to a seasonally adjusted 4.42%, from 4.14% in the preceding month.Analysts had expected Indonesian Inflation to rise to 4.35% l

Taiwan stocks higher at close of trade; Taiwan Weighted up 0.89%


Category: Stock Market


Taiwan stocks were higher after the close on Tuesday, as gains in the Glass, Optoelectronic and Electricity sectors led shares higher.At the close in Taiwan, the Taiwan Weighted gained 0.89% to hit a new 3-months high.The best performers of the session on the Taiwan Weighted were Acbel (TW:6282), which rose 10.00% or 2.35 points to trade at 25.85 at the close. Meanwhile, Coadna (TW:4984) added 10.00% or 4.90 points to end at 53.90 and Chinese Mariti (TW:2612) was up 9.98% or 2.40 points to 26.45 in late trade.The worst performers of the session were Twn Styrene Mo (TW:1310), which fell 4.37% or 0.80 points to trade at 17.50 at the close. Cyberpower (TW:3617) declined 3.21% or 3.50 points to end at 105.50 and De Licacy Ind (TW:1464) was down 3.18% or 1.25 points to 38.00.Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 568 to 202 and 80 ended unchanged.Shares in Coadna (TW:4984) rose to 3-years highs; gaining 10.00% or 4.90 to 53.90.Crude oil for April delivery was up 1.01% or 0.34 to $34.09 a barrel. Elsewhere in commodities trading, Brent oil for delivery in May rose 0.66% or 0.24 to hit $36.81 a barrel, while the April Gold contract rose 0.90% or 11.10 to trade at $1245.50 a troy ounce.USD/TWD was down 1.09% to 33.123, while TWD/CNY fell 0.05% to 0.1965.The US Dollar Index was down 0.13% at 98.15.

Australia stocks higher at close of trade; S&P/ASX 200 up 0.85%


Category: Stock Market


Australia stocks were higher after the close on Tuesday, as gains in the Gold, Metals&Mining and Resources sectors led shares higher.At the close in Australia, the S&P/ASX 200 added 0.85%.The best performers of the session on the S&P/ASX 200 were Mesoblast Ltd (AX:MSB), which rose 14.58% or 0.280 points to trade at 2.200 at the close. Meanwhile, Whitehaven Coal Ltd (AX:WHC) added 10.00% or 0.055 points to end at 0.605 and Beach Energy Ltd (AX:BPT) was up 8.49% or 0.045 points to 0.575 in late trade.The worst performers of the session were Slater&Gordon Ltd (AX:SGH), which fell 45.69% or 0.265 points to trade at 0.315 at the close. Bendigo And Adelaide Bank Ltd (AX:BEN) declined 5.96% or 0.510 points to end at 8.050 and Telstra Corporation Ltd. (AX:TLS) was down 4.76% or 0.250 points to 5.000.Rising stocks outnumbered declining ones on the Australia Stock Exchange by 501 to 458 and 257 ended unchanged.Shares in Slater&Gordon Ltd (AX:SGH) fell to all time lows; losing 45.69% or 0.265 to 0.315. Shares in Bendigo And Adelaide Bank Ltd (AX:BEN) fell to 3-years lows; losing 5.96% or 0.510 to 8.050. Shares in Telstra Corporation Ltd. (AX:TLS) fell to 52-week lows; losing 4.76% or 0.250 to 5.000.The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.99% to 21.290.Gold for April delivery was up 0.92% or 11.30 to $1245.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 1.16% or 0.39 to hit $34.14 a barrel, while the May Brent oil contract rose 1.01% or 0.37 to trade at $36.94 a barrel.AUD/USD was up 0.25% to 0.7160, while AUD/JPY rose 0.35% to 80.75.The US Dollar Index was down 0.06% at 98.22.