Yen Gains as BOJ Refrains From Adding Stimulus; Aussie Declines

---

The yen rose versus all 16 major peers after the Bank of Japan refrained from expanding stimulus and said it expects a moderate economic recovery to continue.

The currency was near a three-month high against the greenback as the U.S. yield premium over Japan shrank before the release of minutes from the Federal Reserve��s April meeting. Australia��s dollar held its sharpest loss in two months after consumer confidence dropped and iron ore prices fell to the lowest since September 2012. New Zealand��s kiwi touched the lowest this month after Fonterra Cooperative Group Ltd. said whole-milk powder prices declined for a seventh auction.

The yen gained 0.2 percent to 101.17 per dollar as of 1:38 p.m. in Tokyo from yesterday, when it added 0.2 percent. It touched 101.10 on May 19, the strongest since Feb. 5. Japan��s currency fetched 138.61 per euro from 138.83 yesterday, when it reached 138.55, the highest level since Feb. 7. The 18-nation euro traded unchanged at $1.3702.

Source : Bloomberg

Gold Holds Below $1,300 as SPDR Assets Drop to Lowest Since 2008

---

Gold held below $1,300 an ounce before U.S. economic data that may provide clues on the outlook for monetary stimulus. Holdings in the largest exchange-traded product shrank to the lowest since December 2008.

Bullion for immediate delivery traded at $1,294.03 an ounce at 9:47 a.m. in Singapore from $1,294.37 yesterday, according to Bloomberg generic pricing. Assets in the SPDR Gold Trust dropped to 780.19 metric tons yesterday, the lowest since December 2008.

Gold has risen 7.7 percent this year as tension in Ukraine countered expectations that the Federal Reserve will press on with reducing stimulus as the economy improves. The Fed will today release minutes from its last meeting, when bond-buying was pared for a fourth time. Data tomorrow may show more Americans applied for jobless benefits after last week��s report showed unemployment claims fell to the lowest in seven years.

Gold for June delivery was little changed at $1,294.10 an ounce on the Comex in New York. Global gold demand fell to 1,074.5 tons in the first quarter from 1,077.2 tons a year earlier as jewelry purchases countered slides in investment and central-bank buying, the World Gold Council said yesterday.

Silver for immediate delivery traded at $19.412 an ounce from $19.4218 yesterday. Platinum was at $1,471.06 an ounce from $1,468.88. Palladium traded at $826.75 an ounce from $825.68 yesterday, when prices reached $829.30, the highest level since August 2011.

Source : Bloomberg

WTI Oil Advances as U.S. Crude Stockpiles Shrink; Brent Steady

---

West Texas Intermediate advanced for the third time in four days after industry data showed crude stockpiles declined in the U.S., the world��s biggest oil user. Brent in London was steady.

July futures rose as much as 0.6 percent in New York. Crude supplies shrank by 10.3 million barrels last week, the American Petroleum Institute said yesterday. A government report today will probably show inventories unchanged near a record high, according to a Bloomberg News survey. Russia said its troops are pulling back from Ukraine��s border, as Prime Minister Dmitry Medvedev warned the U.S. and the European Union they risk provoking a new Cold War.

WTI for July delivery rose as much as 65 cents to $102.98 a barrel in electronic trading on the New York Mercantile Exchange and was at $102.87 at 10:17 a.m. Sydney time. The volume of all futures traded was about 33 percent below the 100-day average. The June contract expired yesterday after dropping 17 cents to $102.44, the lowest since May 16.

Brent for July settlement gained 7 cents to $109.76 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $6.89 to WTI. It ended the session at $7.36 yesterday.

Crude supplies at Cushing, Oklahoma, the delivery point for New York futures, dropped by 261,000 barrels during the week ended May 16, the API said. Stockpiles have decreased as the southern leg of the Keystone XL pipeline began moving oil to Gulf Coast refineries from storage in January.

Source : Bloomberg

WTI Oil Falls on Ample U.S. Crude Supply; Brent Trades Near $109

---

West Texas Intermediate crude slipped from a four-week high on speculation that U.S. inventories are adequate to meet demand from refineries making gasoline for the peak-demand summer months. Brent traded near $109 a barrel.

Futures fell as much as 0.3 percent in New York. A government report tomorrow will probably show that U.S. crude supplies were unchanged near a record high, according to a Bloomberg survey. WTI has climbed relative to other grades this year as the opening of the southern leg of the Keystone XL pipeline in January caused stockpiles to tumble at Cushing, Oklahoma, the delivery point for the futures. The link moves oil from the hub to refineries on the Gulf Coast.

WTI for June delivery slid 11 cents to $102.50 a barrel at 9:51 a.m. on the New York Mercantile Exchange. The contract, which expires today, climbed 59 cents to $102.61 yesterday, the highest settlement since April 21. The more-active July contract slipped 1 cent to $102.10.

Brent for July settlement declined 5 cents to $109.32 a barrel on the London-based ICE Futures Europe exchange. The European benchmark grade traded at a $7.22 premium to WTI futures for the same month.

Source :Bloomberg