Dollar Holds Advance on 200-Day Moving Average; Aussie Declines

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The dollar remained higher against the yen after the U.S. currency rebounded from a key technical level at its 200-day moving average.


The greenback also held gains after a rebound in stocks boosted investors�� appetite for risk and an increase in Treasury yields improved the allure of U.S. assets. Australia��s dollar fell against most major peers before a private survey forecast to signal manufacturing contracted for a fifth month in China, the South Pacific nation��s biggest trading partner.


The U.S. currency gained 0.1 percent to 101.46 yen as of 8:50 a.m. in Tokyo from yesterday, and was little changed at $1.3685 per euro after advancing 0.1 percent in New York. The yen traded at 138.79 per euro from 138.74.


The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major currencies, was little changed at 1,009.49, following a two-day 0.2 percent advance.


The Standard & Poor��s 500 Index rose 0.8 percent yesterday, rebounding from a 0.7 percent drop the previous session. U.S. Treasury 10-year note yields rose two basis points, or 0.02 percentage point, to 2.53 percent in New York.


A preliminary reading of a purchasing managers�� index by HSBC Holdings Plc and Markit Economics today will probably be 48.3 for May, according to the median estimate of economists polled by Bloomberg News. That would be a fifth month for the manufacturing gauge below the breakeven level of 50, the longest stretch since 2012.


The Aussie slipped 0.2 percent to 92.36 U.S. cents. It touched 92.09 yesterday, the least since May 2.


Source : Bloomberg

Gold Prices Decline as Federal Reserve Sees No Inflation Risk

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Gold declined as the Federal Reserve said it sees a muted inflation risk from continued stimulus, lowering demand for the precious metal as a hedge against rising consumer costs.

Gold for immediate delivery fell 0.3 percent to $1,290.68 an ounce at 2:32 p.m. in New York, according to Bloomberg generic pricing.

On the Comex in New York, gold futures for June delivery closed 0.5 percent lower at $1,288.10 an ounce. The contract settled before the Fed statement was released.

The Fed pared its monthly asset buying to $45 billion in April, its fourth straight $10 billion cut, and said further reductions in measured steps are likely.

Bullion climbed 70 percent from December 2008 to June 2011 as the central bank bought debt and held borrowing costs near zero percent.

Copy Source: Bloomberg

WTI Oil Rises to One-Month High on U.S. Supply Drop

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West Texas Intermediate crude rose to a one-month high after an industry report showed U.S. stockpiles tumbled last week. Brent oil increased on unrest in Libya.

Futures advanced as much as 0.9 percent in New York. Crude supplies dropped by 10.3 million barrels last week, the American Petroleum Institute reported yesterday. A government report today will probably show inventories were unchanged near a record high, according to a Bloomberg survey. The U.S. moved a Marine contingent to Italy yesterday to prepare for the possible evacuation of American personnel from Libya.

WTI for July delivery increased 90 cents, or 0.9 percent, to $103.23 a barrel at 9:39 a.m. on the New York Mercantile Exchange. Prices reached $103.29, the highest intraday level since April 22. The volume of all futures traded was 20 percent above the 100-day average for the time of day.

Brent for July settlement gained 40 cents, or 0.4 percent, to $110.09 a barrel on the London-based ICE Futures Europe exchange. Volume was 11 percent higher than the 100-day average. The European benchmark crude traded at a $6.86 premium to WTI.

Source : Bloomberg

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

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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 level since December 2008.

Bullion for immediate delivery traded at $1,294.63 an ounce at 2:20 p.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 for June delivery was little changed at $1,294.70 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 $19.449 an ounce from $19.4218 yesterday. Platinum rose 0.3 percent to $1,472.69 an ounce. Palladium increased 0.3 percent to $827.83 an ounce after prices yesterday reached $829.30, the highest level since August 2011.

Source : Bloomberg