The dollar fell against the euro, losing the all previously earned a position on the background of the fact that the U.S. secretary of state John Kerry said the United States will study the offer from Russia to Syria. Note that Russian diplomats over the past day could seriously change the approach to the Syrian issue. Foreign Minister Sergei Lavrov said today that the country will soon submit a concrete plan for the transfer of chemical weapons in Syria under international control. On the eve of Lavrov caught on the word of his colleague, the Secretary of State, John Kerry , who offered to Damascus to voluntarily surrender all chemical weapons and thereby avoid military action. Unexpectedly for many peace initiative has gained quite real. The Russian version is supported by many western countries. And, most importantly , Syria has given its consent . Voting in the U.S. Senate by a military scenario postponed indefinitely.
Meanwhile , we add that the partial pressure on the dollar had previously submitted a report which showed that the number of jobs in the U.S. fell by 180 thousand
As it became known, in July, the number of vacancies in the private sector in the U.S. has decreased by 180 thousand to 3.69 million compared with the revised 3.87 million the previous month, the Labor Department said in Washington. The pace of hiring increased .
Compared to the same period of the previous year had risen by 5.4 % , as private jobs increased by 5.3 % to 3.28 million , while government jobs have increased to 405 thousand from 380 thousand at about 11,510 million unemployed in July , there were about 3.1 potential applicants per job opening . In July 2012 , there were about 12.7 million unemployed and about 3.6 potential applicants per vacancy .
The yen depreciated significantly against the dollar, which in the first place was due to the publication of the minutes of the last meeting of the Bank of Japan , in which the management has stated its firm intention to continue easing monetary policy. In addition , reports have shown that the participants of the Board of the Bank of Japan monetary policy believe that the Japanese economy is beginning to show a moderate recovery .
Note that at the meeting of the Bank of Japan decided to leave its monetary easing program unchanged , as the economy began to recover moderately , while inflation data came out positive. We also add that the Bank of Japan kept its plan to increase the monetary base at an annual rate of 60-70 trillion . yen , keeping interest rates at a record low of 0.10 percent. Recall that the massive monetary easing program was launched in April, shortly after Haruhiko Kuroda led as head of the Bank of Japan. This program, one of the " three arrows ", invented by Prime Minister Shinzo Abe , and is aimed at ending the 15- year deflation in the economy.
The Australian dollar rose to a six-week high against the U.S. counterpart amid improved business confidence after the election. According to the National Australia Bank, business confidence in Australia in August rose to its highest level since May 2011 against the expected victory of the coalition of the Liberal and Conservative parties in the elections .
On Sunday, the coalition won a landslide victory over the government of the liberal minority, which advocated for new taxes on the profits of the mining industry and on carbon emissions. Elected Prime Minister Tony Abbott has promised to cut both taxes and invest in infrastructure.
As shown by National Australia Bank, the index of business confidence in Australia in August rose to 6 , the highest level in more than two years. In July, the index stood at -3 . The index of business conditions rose slightly , from -7 to -6 .
European stocks rose to their highest level in 3 1/2 months as Chinese economic data beat estimates and the U.S. offered to defer an attack on Syria if it complied with a Russian proposal to give up chemical weapons.
The Stoxx Europe 600 Index rallied 1.4 percent to 309.99 at 4:30 p.m. in London, its highest level since May 22. The gauge has surged 11 percent this year as central banks around the world maintained stimulus measures and the global economy showed signs of recovery.
China’s industrial output rose 10.4 percent in August from a year earlier and retail sales gained 13.4 percent, the National Bureau of Statistics said today. The advance in industrial production compared with a median estimate for 9.9 percent growth and a 9.7 percent increase in July. The retail-sales figure compared with a projection for 13.3 percent advance and a 13.2 percent gain the previous month.
National benchmarks rose in 17 of the 18 western European markets today.
FTSE 100 6,583.99 +53.25 +0.82% CAC 40 4,116.64 +76.31 +1.89% DAX 8,446.54 +170.22 +2.06%
U.S. President Barack Obama said on ABC News that an assault on Syria will “absolutely” be put on hold if it agrees to surrender chemical weapons. Interfax reported that Bashar al-Assad’s government accepted a Russian-backed plan to establish international control over such arms following an attack last month that killed hundreds of people in the suburbs of Damascus. Obama will address Americans on television at 9 p.m. Washington time.
Peugeot gained 1.9 percent to 12.33 euros, its highest since March 2012. Maxime Picat, managing director of the Peugeot brand, said at the Frankfurt auto show the carmaker will not cut prices even as it faces price pressure in Europe. Separately, a report from the China Association of Automobile Manufacturers showed auto sales to dealerships in the world’s second-biggest economy rose 11 percent last month from a year ago.
Glencore Xstrata (GLEN) advanced 2.5 percent to 329.25 pence, its highest price since May 30. The world’s biggest exporter of power-station coal said in a statement that “synergies” from its merger with Xstrata will be at least $2 billion, exceeding the initial guidance of $500 million. The Baar, Switzerland-based company released the statement before its investor meeting in London today.
Neste Oil surged 13 percent to 17.29 euros. Finland’s only refiner said comparable operating profit will increase to more than 530 million euros ($702 million) in 2013. Earlier, the company had merely said profit will be an improvement over last year’s 355 million euros.
Ashmore Group Plc (ASHM) jumped 5.8 percent to 384.1 pence. The U.K. fund manager that invests in emerging markets reported full-year pretax profit and revenue that exceeded estimates. The London-based company also raised its dividend.
Eiffage SA lost 5.2 percent to 41.40 euros. Groupama SA sold shares of the company that manages toll roads and other infrastructure at 41.75 euros apiece, according to a person with direct knowledge of the transaction.
Prices of oil futures fell sharply today , registering with the second session decline in a row, that, first of all, is connected with an attempt to resolve the Syrian diplomatic issue, and the decision of the Senate of the United States to postpone the vote on military intervention in Syria.
Note that the decline in oil prices began on Monday after Russia supported the comment Secretary of State , John Kerry , who said that a military strike could be averted if Syrian President Bashar al- Assad hand over chemical weapons. Even today, it was reported that Syria has agreed with this proposal. Against the background of this decision down fears that possible military action in Syria could spill over into neighboring countries in the Middle East and lead to disruptions in the supply of the region, which produces about a third of the world's oil .
In addition, the course of trade affected by information that the Organization of Petroleum Exporting Countries (OPEC ) raised its forecast for global oil demand in 2013 by about 30,000 barrels per day - up to 89.74 million barrels per day , it should be from the September the report of the organization.
In the first and second quarter of the daily demand of 88.86 and 88.93 million barrels, respectively . In the third and fourth quarters of the daily demand is expected to reach 90.2 million and 90.92 million barrels of oil per day , respectively, versus 90.9 and 90.18 million according to the August forecast .
In 2014 , global demand is projected OPEC will reach 90.77 million barrels per day , an increase of 1.16% as compared to 2013. Figure was slightly elevated - in August he was at 90.75 million barrels per day. In the first quarter of next year, demand will reach 89.89 million barrels a day - at the level of the previous forecast .
Meanwhile , we add that traders are waiting for today's data from the API, which is to show how to change the volume of crude oil in the United States . Also important will be tomorrow's report on oil , which will be published by the Ministry of Energy.
The cost of the October futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 106.77 a barrel on the New York Mercantile Exchange.
October futures price for North Sea Brent crude oil mixture fell $ 1.72 to $ 111.44 a barrel on the London exchange ICE Futures Europe.
Gold prices declined significantly today , while losing about 2 percent , after Syria accepted the offer of Russia to give up chemical weapons in order to prevent a strike by the United States .
Note that Russian diplomats over the past day could seriously change the approach to the Syrian issue. Foreign Minister Sergei Lavrov said today that the country will soon submit a concrete plan for the transfer of chemical weapons in Syria under international control. On the eve of Lavrov caught on the word of his colleague, the Secretary of State, John Kerry, who offered to Damascus to voluntarily surrender all chemical weapons and thereby avoid military action. Unexpectedly for many peace initiative has gained quite real. The Russian version is supported by many western countries. And, most importantly , Syria has given its consent . Voting in the U.S. Senate by a military scenario postponed indefinitely.
Analysts say that in recent weeks the cause of rising gold prices has been uncertainty in the Middle East and rising oil prices , but since there is now a partial clarification of the situation and the extinction of concern , the value of the precious metal may continue to decline. Meanwhile, experts predict that gold will remain under pressure in the coming session on the background of the increased uncertainty about the timing and rate of decline of asset purchases by the Federal Reserve System .
In addition, we add that the data presented today showed that the gold reserves in the SPDR Gold Trust fell yesterday by 0.23 % to 917.13 tons from 919,23 tonnes on Friday .
The cost of the October gold futures on COMEX today dropped to $ 1362.00 per ounce.
The Italian economy contracted at a slightly faster pace in the second quarter than initially estimated, but at a weaker rate than in the March quarter, final data from statistical office Istat showed Tuesday.
Gross domestic product (GDP) dropped a seasonally and calendar-adjusted 0.3 percent quarter-over-quarter in the June quarter, a tad faster than the 0.2 percent fall estimated earlier. In the first quarter, the economy had logged a faster contraction of 0.6 percent.
Overall output was negatively influenced by a slump in final consumption and capital formation, both of which decreased 0.3 percent each. Italy's imports were lower by 0.3 percent than in the March quarter, while exports recorded a 1.2 percent increase.
According to the revised data, GDP fell 2.1 percent from the second quarter of 2012, while the flash estimates were for a 2 percent fall. However, rate of decline was slower than 2.3 seen in the first quarter.
EUR/USD $1.3210, $1.3215, $1.3250, $1.3300
USD/JPY Y98.40, Y98.50, Y99.00, Y99.05, Y99.50, Y100.15, Y100.30, Y100.50
GBP/USD $1.5585, $1.5625, $1.5630
USD/CHF Chf0.9300
AUD/USD $0.9100, $0.9145, $0.9200, $0.9260
AUD/JPY Y92.25
USD/CAD C$1.0400, C$1.0535
U.S. stock futures climbed as data showed China’s economy is improving and investors watched developments on Syria.
Global Stoks:
Nikkei 14,423.36 +218.13 +1.54%
Hang Seng 22,976.65 +226.00 +0.99%
Shanghai Composite 2,237.98 +25.47 +1.15%
FTSE 6,589.12 +58.38 +0.89%
CAC 4,109.14 +68.81 +1.70%
DAX 8,438.22 +161.90 +1.96%
Crude oil $107.11 -2.20%
Gold $1363.80 -1.65%
06:45 France Industrial Production, m/m July -1.4% +0.7% -0.6%
06:45 France Industrial Production, y/y July -0.2% -0.4% -1.8%
08:30 United Kingdom BOE Credit Conditions Survey Quarter III
The euro fell against the dollar after weak data on industrial production in France. The volume of French industrial production fell in July compared with June , data showed on Tuesday statistical office Insee. Industrial production fell unexpectedly by 0.6 percent in July compared with the previous month , though at a slower rate than the 1.4 percent decline in June. Production, according to expectations , was to increase by 0.5 percent.
Manufacturing output fell by 0.7 percent, confounding expectations for a 0.7 percent rise. Moreover, the rate of decline was greater than the 0.4 percent fall, which was recorded in June. On a monthly measurement of the decline in July was largely due to the 6.7 - percent drop in the production of vehicles and equipment. In addition, the production of coke and petroleum products fell by 6 percent.
On an annual basis , a decrease of industrial production accelerated to 1.8 percent from 0.1 percent. In addition , the volume of manufacturing output fell by 2.5 percent after easing to 0.4 percent in June. Economists had expected industrial production and manufacturing output to decline in July by 0.5 percent each .
The yen fell to a two-week low against the euro , as Management of the Bank of Japan announced its firm intention to continue easing the monetary policy of the bank. This was stated in the minutes of the last meeting of the Central Bank , which was held last week.
The Australian dollar rose to a six-week high on the back of improved business confidence after the election. According to the National Australia Bank, business confidence in Australia in August rose to its highest level since May 2011 against the expected victory of the coalition of the Liberal and Conservative parties in the elections .
On Sunday, the coalition won a landslide victory over the government of the liberal minority, which advocated for new taxes on the profits of the mining industry and on carbon emissions. Elected Prime Minister Tony Abbott has promised to cut both taxes and invest in infrastructure.
As shown by National Australia Bank, the index of business confidence in Australia in August rose to 6 , the highest level in more than two years. In July, the index stood at -3 . The index of business conditions rose slightly , from -7 to -6 .
EUR / USD: during the European session, the pair fell to $ 1.3228
GBP / USD: during the European session, the pair fell to $ 1.5686
USD / JPY: during the European session, the pair rose to Y100.38
At 12:15 GMT in Canada will be released by Housing Starts for August. U.S. at 14:00 GMT and will publish a vacancy rate of labor turnover from the Bureau of Labor Statistics in July , and 20:30 GMT - the change in volume of crude oil , according to API. At 21:00 GMT New Zealand will release the house price index from REINZ and the change in volume of home sales for August from REINZ . At 23:50 GMT Japan will publish the BSI business conditions index for large manufacturers and business conditions index (BSI) for large enterprises in all sectors of the 3rd quarter .
EUR/USD
Offers $1.3320/25, $1.3295/300
Bids $1.3235/25, $1.3210/00, $1.3175/70, $1.3150/40
GBP/USD
Offers $1.5780/85, $1.5750/55
Bids $1.5650, $1.5630, $1.5600, $1.5565/60, $1.5555/50, $1.5525/20
AUD/USD
Offers $0.9400, $0.9350, $0.9330/35, $0.9300
Bids $0.9205/00, $0.9155/50, $0.9100, $0.9080
EUR/GBP
Offers stg0.8550/55, stg0.8520, stg0.8450/65
Bids stg0.8410/00, stg0.8390, stg0.8380, stg0.8350
EUR/JPY
Offers Y133.80, Y133.50, Y133.00
Bids Y131.50, Y130.80, Y130.00/9.80, Y129.50, Y129.20, Y129.00, Y128.50
USD/JPY
Offers Y101.00, Y100.80, Y100.50, Y100.20/30
Bids Y99.35/30, Y99.20-00, Y98.50, Y98.25/20, Y98.00
European stocks rose to a three-month high as Chinese economic data beat estimates and the U.S. offered to defer an attack on Syria if it complied with a Russian proposal to give up chemical weapons. U.S. index futures and Asian shares also climbed.
China’s industrial output rose 10.4 percent in August from a year earlier and retail sales gained 13.4 percent, the National Bureau of Statistics said today. The advance in industrial production compared with a median estimate for 9.9 percent growth in a News survey and a 9.7 percent increase in July. The retail-sales figure compared with a projection for 13.3 percent advance and a 13.2 percent gain the previous month.
U.S. President Barack Obama said on ABC News that an attack on Syria will “absolutely” be put on hold if it agreed to surrender chemical weapons. Russian Foreign Minister Sergei Lavrov yesterday said his country will start negotiations with Bashar al-Assad’s regime to establish international control over such weapons.
Obama answered questions on six television news programs yesterday as part of an administration-wide attempt to rally public and congressional support for a U.S. military response to a chemical attack in Syria last month. He will address Americans on television tonight as his plan meets increased resistance and public opposition.
Peugeot gained 7.3 percent to 12.99 euros. Maxime Picat, managing director of the Peugeot brand, said at the Frankfurt auto show the carmaker will not cut prices even as it faces price pressure in Europe. Separately, a report from the China Association of Automobile Manufacturers showed auto sales to dealerships in the world’s second-biggest economy rose 11 percent last month from a year ago.
Glencore Xstrata advanced 3.6 percent to 333 pence, its highest price since May. The world’s biggest exporter of power-station coal said in a statement that “synergies” from its merger with Xstrata will be at least $2 billion, exceeding the initial guidance of $500 million. The Baar, Switzerland-based company released the statement before its investor meeting in London today.
Neste Oil surged 14 percent to 17.45 euros. Finland’s only refiner said comparable operating profit will increase to more than 530 million euros ($702 million) in 2013. Earlier, the company had merely said profit will be an improvement over last year’s 355 million euros.
FTSE 100 6,578.02 +47.28 +0.72%
CAC 40 4,092.26 +51.93 +1.29%
DAX 8,414.12 +137.80 +1.66%
EUR/USD $1.3210, $1.3215, $1.3250, $1.3300
USD/JPY Y98.40, Y98.50, Y99.00, Y99.05, Y99.50, Y100.15, Y100.30, Y100.50
GBP/USD $1.5585, $1.5625, $1.5630
USD/CHF Chf0.9300
AUD/USD $0.9100, $0.9145, $0.9200, $0.9260
AUD/JPY Y92.25
USD/CAD C$1.0400, C$1.0535
Asian stocks rose, extending the longest rally in the benchmark index this year, as China’s industrial production and retail sales beat estimates, adding to signs the second-largest economy is rebounding.
Nikkei 225 14,423.36 +218.13 +1.54%
Hang Seng 22,937.21 +186.56 +0.82%
S&P/ASX 200 5,201.17 +19.70 +0.38%
Shanghai Composite 2,237.98 +25.47 +1.15%
Jiangxi Copper Co., China’s biggest producer of the metal, gained 2.2 percent in Hong Kong.
Komatsu Ltd., Japan’s No. 1 construction-equipment maker, climbed 6.4 percent after the Nikkei newspaper reported operating profit from its parts business will climb to a record this year.
Mitsui O.S.K. Lines Ltd. jumped 6 percent in Tokyo, pacing gains among shipping companies after a gauge of cargo rates posted its largest advance in more than four years.
01:30 Australia National Australia Bank's Business Confidence August -3 6
The dollar held a decline from yesterday versus most major peers amid prospects a Russian bid to get Syria to surrender its chemical weapons may avert a U.S. military strike, damping demand for haven currencies. “If the establishment of international control of chemical weapons in the country will help avoid military strikes, we will immediately start working with Damascus,” Russian Foreign Minister Sergei Lavrov said after meeting with his Syrian counterpart in Moscow yesterday. Syria’s government said it welcomed the idea.
President Barack Obama addresses the nation today, seeking to make the case that U.S. security is at stake if the Syrian regime’s use of chemical weapons against civilians goes unanswered.
The yen fell to a two-week low versus the euro as Bank of Japan policy makers agreed that the effects of monetary easing are firmly taking hold, according to minutes of last month’s meeting.
The Australian and New Zealand dollars extended a two-day gain before Chinese data that may add to signs of a rebound in the world’s second-largest economy. China’s factory production increased 9.9 percent in August from a year earlier, compared with a 9.7 percent gain in the previous month, the National Bureau of Statistics is predicted to say today, according to the median estimate in a Bloomberg survey. Retail sales probably advanced 13.3 percent after July’s 13.2 percent increase, a separate poll forecast.
EUR / USD: during the Asian session the pair rose to $ 1.3270
GBP / USD: during the Asian session, the pair trading around the $ 1.5700
USD / JPY: during the Asian session the pair traded in the range of Y99.45-75
Tuesday sees a fairly muted calendar, with largely second tier data set for release on both sides of the Atlantic. Once again, markets will be awaiting President Obama's address to the nation, expected late evening Eastern Time. The European calendar gets underway at 0645GMT, when the French July industrial output data is set to be published. Italian second quarter final GDP data will be released at 0800GMT. Analysts expect the report to show a q/q fall of 0.2% and an annualised fall of 2.0% - both in line with the first revision. Also at 0800GMT, Germany's opposition SPD shadow minister Christiane Krajewski presents a program on ending the euro crisis, in Berlin. Back in Europe, at 1230GMT, ECB Executive Board Member Joerg Asmussen will sit on a monetary policy panel in Brussels.
Nikkei 225 14,205.23 344,42 2,48%
Hang Seng 22,697.74 76,52 0,34%
S & P / ASX 200 5,181.47 36,48 0,71%
Shanghai Composite 2,212.52 72,52 3,39%
FTSE 100 6,530.74 -16.59 -0.25%
CAC 40 4,040.33 -8.86 -0.22%
DAX 8,276.32 +0.65 +0.01%
Dow +139.62 15,062.12 +0.94%
Nasdaq +46.17 3,706.18 +1.26%
S&P +16.49 1,671.66 +1.00%
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3252 +1,02%
GBP/USD $1,5692 +0,66%
USD/CHF Chf0,9322 -1,36%
USD/JPY Y99,60 -0,56%
EUR/JPY Y132,01 +0,46%
GBP/JPY Y156,30 +0,12%
AUD/USD $0,9227 +1,05%
NZD/USD $0,8017 +1,65%
USD/CAD C$1,0370 -1,30%
01:00 Australia Consumer Inflation Expectation September +2.3%
01:30 Australia National Australia Bank's Business Confidence August -3
05:30 China Retail Sales y/y August +13.2% +13.3%
05:30 China Fixed Asset Investment August +20.1% +20.2%
05:30 China Industrial Production y/y August +9.7% +9.9%
06:00 Japan Prelim Machine Tool Orders, y/y August -12.2%
06:45 France Industrial Production, m/m July -1.4% +0.7%
06:45 France Industrial Production, y/y July -0.2% -0.4%
08:00 China New Loans August 700 731
08:30 United Kingdom BOE Credit Conditions Survey Quarter III
12:15 Canada Housing Starts August 193 190
14:00 U.S. JOLTs Job Openings July 3936
20:30 U.S. API Crude Oil Inventories September -4.2
21:00 New Zealand REINZ Housing Price Index, m/m August -0.5%
23:50 Japan BSI Manufacturing Index Quarter III 5.0 7.2