August 2013

Gold Futures Rebounds On Weak US Dollar

Gold futures rose slightly higher, rebounding from Monday minor loss, while the US dollar was weakened by the recent economic data as investors raise concerns over speculations that the US Federal Reserve may begin to taper its bond-buying program earlier than expected.

The December delivery for the yellow metals were up 0.55% and trading at $1,400.80 per ounce at the time of writing, as it closed Monday’s trading session with $1,393.10 per ounce. Read more

Euro Flat Amid Disappointing US Housing Data

The euro started the trading week a little changed against the greenback during the early hours of the European session, as the currency advanced to $1.3880 from $1.3330 in the previous session when the disappointing US housing data dragged the US dollar lower. As of 6:52am GMT, the euro was selling at $1.3366 against the US dollar.

The euro rose to $1.3451, its highest level in over six months. The euro was assisted by the statement released by Bundesbank, which showed that the low rates that were set by the European Central Bank on Monday may not be guaranteed. Read more

Asian Stocks In Green On Weak US Housing Data

Majority of the Asian stocks started the trading week in green for the second time in row, assisted by analysts’ predictions that the Fed may delay tapering its stimulus bond-buying program till December, after the release of the US housing data.

Sales of new houses in the US advanced 13.4% on an adjusted annual rate of 394,000 in July, while the other four regions showed declines, the released government data confirmed. The weak housing data released pushed commodity prices higher, as investors saw it as a indication that the Federal Reserve (Fed) is likely to postpone its tapering of its bond-buying program until December. Read more

Stocks in Japan Climbs On Weaker Yen

Equities in Asia ,majorly stocks in Japan  were pushed by the series of better-than-expected macroeconomic data released from all over the globe along with the weaken yen at its lowest level against the greenback. While China had a strong rebound on Friday despite of the upbeat data released.

Over 1% in crude futures advanced overnight, which helped the region’s energy producers. As reports from Europe and the US showed a better-than-expected data, the eurozone improved in their output more than analysts predicted and the jobless claims in the US dropped. The US jobless claims in the month ended August 17 dropped to 330,500 a week, the US Labour Department figures showed. Read more

European Shares Start Mixed After German Economy Growth

European shares was seen trading mixed as it started the trading session after the second-quarter German growth data was released and beat estimates, expanding by 0.7%.

The European Euro Stoxx 50 edged 0.15% higher to 2,811.05 as the market opened, while the German DAX rose 0.03% to 8,402.99 at the same time. The French CAC 40 fell 0.15% lower at 4,053.48 and the UK’s FTSE 100 declined 0.23% to 6,433.50.

Germany’s economy expanded by 0.7% in the second quarter, the reports from the German Federal Statistical Office (Destatis) confirmed. Read more