Aust Dollar Treads Water Before RBA

The Australian dollar is treading water as markets await the Reserve Bank’s board meeting, where interest rates are expected to remain on hold. At 7.00am (AEDT) on Tuesday, the local unit was trading at US71.37c, down fractionally from US71.38c on Monday. Nomura rate strategist Andrew Ticehurst says the RBA will be reluctant to use up some of its remaining “ammunition”.  “The RBA is uncertain that a rate cut could actually achieve...

Oil Rises to Seven-Week High as Saudis to Work With Producers

Crude closed at the highest in seven weeks as Saudi Arabia said it would work with other producers to curb market fluctuations and China’s central bank stepped up efforts to support the economy. West Texas Intermediate oil increased 3 percent. Saudi Arabia wants a stable oil market, according to state-run Saudi Press Agency. China reduced the amount of cash the nation’s lenders must lock away. The Organization of Petroleum Exporting...

Hong Kong Shares Fall More Than 1 pct, Track Mainland Stocks (Riview)

Hong Kong shares fell more than 1 percent on Monday, with sentiment soured by a tumble in mainland stocks.The Hang Seng Index dropped 1.3 percent, to 19,111.93, while the China Enterprises Index lost 1.5 percent, to 7,916.34 points.China stocks slumped more than 2 percent, closing at their lowest in a month, as investors sold on fears that rising real estate prices will cannibalise funds from shares, aggravated by disappointing earnings from ...

S&P 500 Falls for a Third Month as Late-February Rebound Fades

The Standard & Poor’s 500 Index erased a February gain Monday, despite a rally in crude oil, as a two-week rebound faltered in the month’s lightly traded final session. The S&P 500 fell 0.8 percent to 1,932.03 at 4 p.m. in New York, extending its monthly losing streak to three, the longest in more than four years. It closed 0.4 percent lower for February. Afternoon declines accelerated as the gauge fell below its average price...

U.S. Stocks Advance Toward Monthly Gain After Two-Week Rebound

U.S. stocks advanced in February’s final session, showing some stability along with crude prices and poised for a monthly gain after a two-week rebound from the worst start to a year ever. After fluctuating in early trading, equities extended a climb as oil rallied, with West Texas Intermediate crude up 2.8 percent. Even with the commodity rising, gains in energy producers were muted while raw-material and utilities...

USD/JPY bulls tiring ahead of critical recovery target?

USD/JPY has been in recovery in the opening of Tokyo fro the downside that kicked off the day in early Asia when the Yen rallied amidst risk aversion. The weekend news was the G20, and while the outcome suggested that markets are making a worse situation of the global economy than what it really is, there remain big concerns over the EU and subsequent ramifications for Global markets. Mervyn King, former BOE Governor, was reported...

Oil Trades Near $33 as U.S. Explorers Idle More Rigs Amid Glut

Oil traded near $33 a barrel as U.S. drillers cut the number of active rigs to the lowest level in more than six years amid a global glut. Futures gained 0.4 percent, trimming a fourth monthly drop. Rigs targeting oil fell by 13 to 400, the lowest since December 2009, according to Baker Hughes Inc. That is the 10th week of declines. Hedge funds and other speculators increased net-long positions in West Texas Intermediate futures and...

Asian Stocks Rise as Japanese Equities Gain After G-20 Meeting

Asian stocks rose as Tokyo shares rallied for a third day and Group of 20 leaders pledged to use fiscal policy to strengthen growth and job creation. The MSCI Asia Pacific Index gained 0.4 percent to 120.08 as of 9:09 a.m. in Tokyo.  Investors are looking for clues as to the strength of the global economy after finance chiefs from the world’s top economies committed their governments over the weekend to doing more to boost...

Japanese Stocks Rise Third Day as Weaker Yen Boosts Exporters

Japanese stocks rose for a third day after a weaker yen boosted the earnings outlook for exporters and as investors digested the Group of 20’s statement on the global outlook. The Topix index rose 1 percent to 1,324.30 as of 9:04 a.m. in Tokyo, with all but four of its 33 industry groups climbing. The Nikkei 225 Stock Average jumped 1 percent to 16,343.55. The yen traded at 113.74 per dollar, after dropping 0.9 percent on Friday. Policy...

Hong Kong shares up 2 pct as China rebounds, G20 meeting eyed (Review)

Hong Kong shares rose more than 2 percent on Friday, buoyed by a rebound in mainland China markets that prompted investors to hunt for bargains after losses in the previous session.The Hang Seng index surged 2.5 percent to 19,364.15 points, its best day in nearly two weeks.For the week, it gained 0.4 percent despite a loss of more than 3 percent for China's main benchmark indexes.The China Enterprises Index ended up 2.1 percent in the biggest...

Oil futures end higher as producers plan March meeting

Oil futures erased early losses to end sharply higher Thursday, turning north after news reports said Venezuela's oil minister announced his country would meet with fellow oil producers next month in an effort to stabilize prices. West Texas Intermediate crude futures on the New York Mercantile Exchange finished with a gain of 92 cents, or 2.9%, at $33.07 a barrel. Venezuela oil minister Eulogio Del Pino said Russia, Saudi Arabia and...

Gold Finishes Flat After Multiday Run

Gold futures were little-changed Thursday, as the yellow metal appeared to take a pause after two straight days of sharp gains. April gold closed 30 cents, or less than 0.1%, lower at $1,238.80 an ounce. Gold is looking at a 0.2% weekly gain. The precious commodity has benefited from haven bids amid uncertainty about the global economy, the emergence of negative interest rates in Japan and Europe, and the prospect of rates being...

Hong Kong Shares Fall, Dragged Lower by Slumping China Stocks (Review)

Hong Kong shares fell on Thursday as investor sentiment soured after a tumble in mainland China stocks.The Hang Seng index fell 1.6 percent to 18,888.75 points, while the China Enterprises Index lost 2.4 percent, to 7,871.94 points.China stocks tumbled more than 6 percent, posting their biggest one-day loss in a month, as investors booked profits after the market's recent rebound.All main sectors in Hong Kong fell.Source : Reuter...

S&P 500 Rises to 7-Week High as Bank, Tech Shares Boost Rally

Gains in bank and technology shares helped send the Standard & Poor’s 500 Index to a seven-week high, amid optimism on the economy after data showed weakness in manufacturing may be easing while crude oil showed further signs of stabilizing. The S&P 500 climbed 1.1 percent to 1,951.75 at 4 p.m. in New York, with the gauge erasing its February decline. The U.S. equity benchmark eliminated this month’s slide after losing as much...

U.S. Shares Fluctuate as Crude Retreats; Treasuries Advance

U.S. stocks swung between gains and losses as crude slipped below $32 a barrel in New York and China signaled it won’t seek a grand currency deal at the Group of 20 meeting. Treasuries advanced. The Standard & Poor’s 500 Index struggled to add to yesterday’s late-session rally as energy producers fell 1 percent amid renewed selling in crude. Europe’s benchmark index snapped a two-day losing streak after Lloyds Banking Group Plc...

Oil settles higher after volatile session

Oil futures finished higher after a volatile session on Wednesday, finding support from a weekly decline in U.S. crude production, as strong demand for gasoline pointed to a possible rise in demand for oil to make the fuel. A bigger-than-expected weekly increase in U.S. crude supplies, however, helped limit the gains for oil prices, however. April West Texas Intermediate crude CLJ6, +1.16% added 28 cents, or 0.9%, to settle at $32.15...

Gold Marks Highest Settlement in More Than a Week

Gold futures marked their highest settlement in more than a week on Wednesday as a U.S. report on home sales fueled nervousness in financial markets, driving investors out of assets viewed as risky, like stocks, and into those perceived as safe. April gold climbed $16.50, or 1.4%, to settle at $1,239.10 an ounce. The settlement was the highest since Feb. 12. Prices, which rose 1% Tuesday, touched an intraday high of $1,254.30. Gold ...

Hong Kong Shares Track Global Markets Lower as Energy Stocks Weigh

Hong Kong shares fell more than 1 percent on Wednesday, tracking global markets lower, with shares of energy companies again weighing on the benchmark index as oil prices skid. The Hang Seng index fell 1.2 percent to 19,192.45 points, while the China Enterprises Index lost 1.3 percent to 8,061.71. Most sectors declined, as a nearly two-week-long rebound in global markets showed increasing signs of fatigue. Energy shares tumbled...

U.S. Stocks Rise as Energy, Tech Shares Pace Late-Day Turnaround

Technology and commodity companies paced a rebound in U.S. stocks, with a turnaround in crude-oil prices sparking broader buying that erased declines of as much as 1.7 percent in benchmark indexes. The Nasdaq Composite Index rallied 0.9 percent to 4,542.61 at 4 p.m. in New York, boosted by gains in Apple Inc. and Facebook Inc. The Russell 2000 Index surged 1 percent after an early 1.5 percent slide. The Standard & Poor’s...

Europe Stocks Drop Second Day as Miners Tumble Most Since August

European stocks declined for a second day as sliding oil prices stoked investor concern about global growth. Miners led the losses, taking their two-day decline to 9.5 percent, the most since August. BP Plc and Royal Dutch Shell Plc fell more than 2.8 percent as oil spent more of the day down after Iran dismissed a proposal by Saudi Arabia and Russia for producers to freeze output. European automakers and banks, the weakest groups this...

Crude drops as Saudi oil minister shatters hope for producer cuts

Crude futures settled with a sharp loss on Tuesday after Saudi Arabia’s oil minister, Ali al-Naimi, shattered any hopes that producers would cut back on output to help alleviate the world’s excess supplies. April West Texas Intermediate crude fell $1.52, or 4.6%, to settle at $31.87 a barrel on the New York Mercantile Exchange. April Brent crude on London’s ICE Futures exchange fell $1.42, or 4.1%, to $33.27 a barrel. Source: Marke...

Gold posts 1% gain as haven demand returns

Gold prices tacked on 1% on Tuesday to recoup more than half of what they lost a day earlier, as declines in global stock markets and sharp losses for oil spurred investors to buy into assets perceived as safe. Gold futures for April delivery jumped $12.50, or 1%, to settle at $1,222.60 an ounce, posting its fourth gain in five sessions. Silver for March delivery rose 5.6 cents, or 0.4%, to $15.24 an ounce. Prices for gold had lost...

Hong Kong Shares Track China Markets Lower (Review)

Hong Kong stocks tracked mainland China shares lower on Tuesday, with falls in property and utility sectors offsetting gains in energy and resources plays.The Hang Seng index fell 0.3 percent to 19,414.78 points, while the China Enterprises Index lost 0.6 percent to 8,170.62.Most sectors fell, but energy and resources shares were up on a recent rebound in global commodity and oil prices.China stocks fell on Tuesday as investors took...

U.S. Stocks Slip From 6-Week High as Recent Rally Leaders Falter

U.S. stocks declined from six-week highs, paced by banks as the recent rally’s strongest performers lost momentum while investors assessed global growth prospects amid renewed concern that China will remain a drag. The Standard & Poor’s 500 Index fell 1.2 percent to 1,921.28 at 4 p.m. in New York, a day after surging 1.5 percent to the highest since Jan. 6. Heading into Tuesday’s session, the S&P 500 had rallied 6.4 percent...

European shares backtrack from 3-week high as oil slides

Stocks across Europe on Tuesday fell back from a three-week high, weighed by sliding oil prices and a dreary financial update from mining industry heavyweight BHP Billiton PLC. The Stoxx Europe 600 index ended down 1.2% at 327.78, with all sectors finishing with losses. The index on Monday jumped 1.7% to 331.82, the highest close since Feb. 2, fueled by a rally for commodity shares as prices for oil and metals advanced. But...

U.S. Stocks Rise With Oil, S&P 500 Rallies to Highest in 6 Weeks

U.S. stocks rallied, with the Standard & Poor’s 500 Index closing at a six-week high, amid broad gains as a surge in oil prices helped lessen concern that a slowdown in global growth is deepening. The S&P 500 rose 1.4 percent to 1,945.28 at 4 p.m. in New York, the highest since Jan. 6 following its strongest weekly advance since November. The benchmark is less than seven points below its average price during the past...

Dollar jumps as pound, yen unravel

The dollar climbed on Monday, helped by the pound falling on heightened “Brexit” worries and the yen dropping amid Tokyo stocks’ steady gains. The ICE U.S. Dollar index a measure of the buck’s strength against a basket of six rival currencies – jumped 0.9% to 97.46, clinging to gains despite a weak reading from the Markit U.S. manufacturing PMI, which declined to 51 in the February flash estimate, its lowest level since 2012. The ...

Gold futures mark first loss in four sessions

Gold futures settled sharply lower on Monday, as analysts blamed the first price decline in four sessions on investors showing a hankering for stocks and other riskier assets. Gold futures for April delivery slumped $20.70, or 1.7%, to settle at $1,210.10 an ounce, while March silver shed 18.9 cents, or 1.2%, to $15.184 an ounce. Both precious metals appeared to retreat after enjoying recent haven bids during earlier worries about the...

Hong Kong Shares End up, Track Strong Mainland Market (Review)

Hong Kong shares strengthened on Monday, tracking gains in mainland stocks, which jumped after Beijing replaced its top securities regulator and on fresh measures to support the real estate sector.The Hang Seng index rose 0.9 percent, to 19,464.09, while the China Enterprises Index gained 1.3 percent, to 8,221.37 points.All main sectors rose, but shares of Alibaba Health Information Technology Ltd tumbled 14 percent after regulators said...

European stocks jump to 2-week high as oil rallies

European stock markets logged broad-based gains on Monday, as a rally in oil prices and some metals prices calmed investor nerves after the recent commodity rout. The Stoxx Europe 600 index jumped 1.6% to 331.72, setting it on track for the highest closing level since early February. Elsewhere, Germany’s DAX 30 index rose 2% to 9,576.33, while France’s CAC 40 index %  gained 1.8% to 4,298.08. The jump in oil prices help...

Gold eases, but holds above $1,200 as caution prevails

Gold eased for a second straight session on Monday as the dollar edged higher, but the metal remained underpinned above $1,200 an ounce as caution in financial markets prompted investors to channel money into bullion. Spot gold had fallen 0.3 percent to $1,223.70 an ounce by 0035 GMT, after declining 0.3 percent on Friday. The metal jumped to its highest in a year earlier this month on turmoil in the stock markets and concerns over the...

Chinese Stocks Extend Weekly Gain as New Regulator Head Picked

China’s stocks rose, extending a weekly gain, on speculation the new securities regulator chairman will take steps to boost the world’s second-largest equity market. The Shanghai Composite Index advanced 1.2 percent to 2,894.89 at 9:31 a.m. local time, led by commodity producers and financial companies. The benchmark measure climbed 3.5 percent last week, the most in two months. Developers gained after the government said it will cut...

Asian Stocks Decline After Biggest Weekly Rally in Four Years

Most Asian stocks fell, after the biggest weekly rally in four years, as oil held declines and a stronger yen weighed on Japanese shares. About three shares dropped for each that rose on the MSCI Asia Pacific Index, which lost 0.1 percent to 119.50 as of 9:10 a.m. in Tokyo after jumping 5.9 percent last week. Santos Ltd. slid 2.7 percent in Sydney as U.S. oil traded below $30 a barrel. HSBC Holdings Plc and BHP Billiton Ltd. are scheduled...

apanese Stocks Drop After Last Week Gains Amid Stronger Yen

Japanese stocks fell, after posting the biggest weekly gain in six years, as banks and commodities shares slipped while the yen strengthened. The Topix index declined 1 percent to 1,278.96 as of 9:05 a.m. in Tokyo, following last week’s advance of 8 percent, its best weekly rally since 2009. The Nikkei 225 Stock Average lost 0.9 percent to 15,816.83. The yen traded at 122.54 per dollar, close to its strongest level in a week. The greenback...

U.S. oil futures end slightly higher

West Texas Intermediate oil futures for March delivery ended a choppy session slightly higher. Crude erased an early rally to bounce between small gains and losses after weekly government data showed a rise in inventories for U.S. crude, gasoline and distillates and Saudi Arabia's finance minister was quoted as saying the country wasn't prepared to cut production. March crude settled at $30.77 a barrel, gain of 11 cents, or 0.4%. Source:...

Gold Ends Sharply Higher as Stock Rally Falters

Gold futures stormed higher Thursday, as U.S. stocks struggled to rally after registering three straight days of gains. April gold closed $14.90, or 1.2%, higher at $1,226.30 an ounce. The advance for the yellow metal comes about 24 hours after minutes from the Federal Reserve indicated that the U.S. central bank is concerned about the slowdown in the global economy-a position that could be supportive for gold prices since it implies...

Hong Kong Stocks Climb, Tracking Rebound in Global Markets (Riview)

Hong Kong stocks climbed more than 2 percent on Thursday, aided by a surge in energy shares, following overnight gains in U.S. and European equities and a jump in oil prices.The Hang Seng index ended up 2.3 percent at 19,363.08 points, while the China Enterprises Index gained 3.0 percent to 8,166.47.The energy sector surged 4.3 percent, with Chinese oil giants PetroChina, CNOOC and Sinopec posting sharp gains.Source : Reuter...

U.S. Stocks Decline After Strongest Three-Day Rally Since August

U.S. stocks declined following the Standard & Poor’s 500 Index’s strongest three-day advance in almost six months, as banks, technology and consumer shares lost momentum after bolstering the rally. The S&P 500 slipped 0.5 percent to 1,917.79 at 4 p.m. in New York, halting a winning streak after the gauge’s 1.7 percent climb on Wednesday capped its first three-day gain of the year. The Nasdaq Composite Index fell 1 percent as...

U.S. Stocks Pare Slide as Oil Rebounds, Energy Shares Trim Drop

U.S. stocks pared a retreat as energy shares trimmed declines amid a rebound in oil prices, while banks pulled back from their best rally in more than five years. The S&P 500 slipped 0.2 percent to 1,923.03 at 12:06 p.m. in New York, after losing as much as 0.6 percent. The gauge’s 1.7 percent rally on Wednesday capped its first three-day gain of the year. Equities lost momentum Thursday after recent gains that have come just as...

Dollar weakens against euro, yen after Fed minutes

The dollar edged lower against the euro and yen Wednesday after minutes from the Federal Reserve’s January meeting suggested that the central bank will leave interest rates on hold at its March meeting. The ICE U.S. dollar a measure of the buck’s strength against a basket of six rival currencies, was down 0.1% at 96.8270. The dollar weakened to ¥113.88, from ¥114.23 late Tuesday; the euro strengthened to $1.1148, compared with $1.1128. The ...

Oil Futures End Sharply Higher After Iran Comments

Oil futures ended sharply higher Wednesday, rallying despite a mixed message from Iran's oil minister over a proposed production freeze by major producers. West Texas Intermediate crude for March delivery jumped $1.62, or 5.6%, to end at $30.66 a barrel. Iran's oil minister didn't commit to a production freeze after a meeting with some Organization of the Petroleum Exporting Countries counterparts, but praised a proposed freeze...

Hong Kong Stock Rally Peters Out as Energy Shares Fall (Riview)

Hong Kong stocks lost ground on Wednesday as a two-day solid rally petered out, thanks in part to slumping energy shares that dragged down the market. The Hang Seng index fell 1.0 percent, to 18,924.57, while the China Enterprises Index lost 1.2 percent, to 7,928.76 points. An index tracking energy stocks tanked 3.2 percent, as investors, who had bet on a cut in global oil production, gave a lukewarm response to a potential deal...

U.S. Stocks Rally as Hardest-Hit Shares in 2016 Continue Rebound

U.S. stocks rallied, with the Dow Jones Industrial Average rising more than 250 points, as the year’s most-battered shares continued to recover and energy shares climbed with oil prices. The Standard & Poor’s 500 Index rose 1.6 percent to 1,926.70 at 4 p.m. in New York, capping its first three-day advance this year and closing at a two-week high. West Texas Intermediate crude futures surged, briefly topped $31 a barrel. Equity...

Stocks Rally With Oil as Risk Assets Rebound; Treasuries Retreat

Stocks rallied as investors piled into risk assets, sending emerging-market currencies and shares higher after a weakening yuan triggered losses in Asian markets. Crude rose to above $30 a barrel. The Standard & Poor’s 500 Index climbed for a third day, headed for its longest winning streak of the year, as the benchmark continued to rebound from the lowest level in 22 months last week. Shares in Europe rose as companies including...

Oil Falls as Saudi, Russian Output Freeze Seen Leaving Glut

Oil dropped on speculation that a pledge by Saudi Arabia and Russia to freeze production at January levels won’t succeed in tackling the global oil surplus. Crude fell 1.4 percent in New York. The agreement depends on other producers following suit, Qatar’s Energy Minister Mohammed bin Saleh al-Sada said in Doha Tuesday. The pact won’t be meaningful unless Iran and Iraq, which have been raising output, cooperate, Commerzbank AG said....

Gold Sees Sharpest Single-Session Point Drop in Nearly 12 Months

Gold prices tumbled on Tuesday as U.S. stocks drew bidders and after a prominent Wall Street firm offered a bearish outlook on the yellow metal. April gold fell $31.20, or 2.5%, to $1,208.20 an ounce. Renewed appetite for U.S. stocks diminished some of the appeal of the precious metal, which has enjoyed one of its best runs over the past two weeks. Adding to gold's decline was a report from Jeffrey Currie, Goldman Sachs's global head...

U.S. Stocks Climb as Beaten-Down Banks, Retailer Shares Rally

U.S. stocks rose, with the Standard & Poor’s 500 Index posting the best two-day gain in more than five months, despite weakness in oil prices as beaten-down banks, technology and retailer shares led an advance. Citigroup Inc. and U.S. Bancorp climbed more than up 2.7 percent. Retailers, one of last week’s bright spots, added to their longest rally in three months with Amazon.com Inc. and Home Depot Inc. rising at least 2.6 percent....

Hong Kong Stocks Track Global Market Rebound, Led by Energy Shares (Review)

Hong Kong shares extended gains on Tuesday, led by energy stocks as sentiment improved on the back of higher oil prices and rebounding European and Chinese equities.The Hang Seng index rose 1.1 percent, to 19,122.08, while the China Enterprises Index gained 2.1 percent, to 8,028.34 points.Shares rose across the board. An index tracking energy shares jumped more than 3 percen...

U.S. Stocks Climb as Beaten-Down Banks, Retailer Shares Rally

U.S. stocks rose for a second day, overcoming weakness in oil prices as beaten-down banks and retailers led an advance. Citigroup Inc. and U.S. Bancorp climbed more than up 2.7 percent. Retailers, one of last week’s bright spots, added to their longest rally in three months with Amazon.com Inc. and Home Depot Inc. rising at least 1.5 percent. ADT Corp. soared 50 percent after agreeing to be acquired by Apollo Global Management LLC for...

Gold Slides Most Since July as Stock Rebound Erodes Haven Demand

Gold, the year’s best-performing commodity, dropped the most in almost seven months as rebounding global equities cut demand for a haven. The metal slid as much as 2.5 percent in London on Monday. European stocks headed for the biggest two-day gain in more than four years as People’s Bank of China Governor Zhou Xiaochuan expressed faith in the economy, while a stronger dollar eroded the bullion’s appeal as an alternative investment. Gold...