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April 5, 2007
by Elaine Frei
Yields were lower on government bonds in the UK on Thursday after the Bank of England decided to keep interest rates at their current 5.25 percent for the time being. The decision was expected by most analysts, but there are wide expectations that rates will be sent higher next month, at the Monetary Policy Committee’s next meeting.
Late in the day in London, ...
by Elaine Frei
Sterling weakened on Thursday after the Bank of England’s Monetary Policy Committee decided to leave interest rates in the UK on hold at 5.25 percent for at least another month. Also hurting the UK currency was new data that showed industrial production in the UK was down by 0.6 percent in February. A gain of 0.2 percent had ...
April 4, 2007
by Elaine Frei
With oil prices dropping on the news that Iran will release 15 British sailors captured almost two weeks ago in what it said were Iranian waters, Asian and Pacific equities markets saw gains on Wednesday. In Australia, the S&P/ASX300 added 1.4 percent to close at 6,097.2, a new record, after the Reserve Bank of Australia decided to keep interest rates at ...
by Elaine Frei
Crude oil prices were lower in the US on Wednesday after an announcement by Iranian Preisdent Mahmoud Ahmadinejad that the 15 British sailors his country has held on charges that they had entered Iranian waters will be released. Prices were also helped by crude oil inventories which added 4.3 million barrels to 332.7 million barrels during the week ending March ...
by Elaine Frei
The Australian dollar lost value on Wednesday after the Reserve Bank of Australia surprised by leaving interest rates at 6.25 percent, but the decline proved to be short-lived as it quickly rose to stand 0.6 percent higher versus the US dollar to $0.8180.
The euro strengthened on the session after new figures showed German factory orders rose more than expected in February. ...
by Elaine Frei
Once again, Japanese bonds bucked the trend set by the US, the UK and the Eurozone as five-year Japanese government bonds saw yields rise by 4.5 basis points to 1.265 percent on Wednesday.
In the US, yields on Treasury bonds dropped on weak new economic data. Employment was up by less than expected in March, according to research firm ADP, ...
April 3, 2007
by Elaine Frei
Asia Pacific region equities markets were higher on Tuesday. In Australia, the Sydney Ordinaries added 1.51 percent to 5,997.6, while the S&P/ASX300 closed at 6,013.4, a gain of 97.6 points on the session. In Hong Kong, the Hang Seng index added 0.97 percent to 10,002.7. India’s Sensex partially bounced back from Monday’s losses to ...
by Elaine Frei
With some signs that a diplomatic solution might be found in the standoff between Iran and the UK over 15 British military personnel held by the Iranians, crude oil prices dropped on Tuesday. Brent crude for May delivery was $1.16 lower to $67.58 per barrel late in the afternoon on the Intercontinental Exchange in London, while May contracts for West ...
by Elaine Frei
The Japanese yen weakened on. The yen was lower against both the US dollar and the euro by the middle of the afternoon in New York, when it was 0.8 percent lower in relation to the greenback to ¥118.80 and down 0.9 percent against the euro, to ¥158.80. The Japanese currency was also lower against both the Australian and ...
April 2, 2007
by Elaine Frei
Equities markets in the Asia Pacific region were mixed on Monday. In India, the Sensex dropped 4.72 percent to 12,455.37, losing 616.73 points on the session. The declines there came in the wake of a surprise interest rate hike, up 25 basis points to 7.75 percent, instituted by the Reserve Bank of India on Friday night. Banks, carmakers, ...
by Elaine Frei
The Australian dollar reached its higher level in relation to the US dollar in 10 years on Monday as investors anticipated Tuesday’s meeting of the Reserve Bank of Australia, which is widely expected to raise interest rates. The Aussie added 1.2 percent versus the greenback to $0.8180 in mid-afternoon trade in New York.
Sterling also strengthened on the session even ...
by Elaine Frei
Yields on government bonds were up in the US, the UK and the Eurozone on Monday, leaving Japan as the lone market where prices on government bonds were higher on Monday. The two-year Japanese government bond dropped 1 basis point to a yield of 0.825 percent after the Bank of Japan’s Tankan survey of business sentiment was mixed.
In ...
by Elaine Frei
The prices for copper and nickel were higher on Monday, but gold dropped $2 to trade at $661.80/$662.30 per troy ounce.
Copper added $100 to $6,980 per tonne, approaching the $7,000 level for the first time since December. Prices are being supported by forecasts that demand will exceed supply in the second quarter. Meanwhile, nickel was $700 higher to $45,000 per tonne ...
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