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May 15, 2007
by Elaine Frei
Prices for US Treasury bonds were lower and yields increased slightly after the US Labor Department issued new data showing that consumer inflation was up less than it had been expected to rise in April. Consumer prices were up 0.4 percent during the month, while core prices were up by 0.2 percent.
At the same time, the Empire State Manufacturing ...
May 14, 2007
by Elaine Frei
Most European markets were lower on Monday. The FTSE Eurofirst 300 fell 0.24 percent to 1,578.32, while the Xetra Dax in Frankfurt dropped 0.26 percent to 7,459.61 and the Paris CAC-40 was 0.4 percent lower to 6,026.42. In London, the FTSE 100 dropped 0.16 percent to 6,555.5, while the FTSE 250 bucked the trend and added 0.03 percent to ...
by Elaine Frei
Oil prices were up early on Monday after the Organization of Petroleum Exporting Countries said it will leave current production quotas in place at least through June. The decision came even though the International Energy Agency said on Friday that the lower quotas could mean that supply will not keep up with demand through the summer.
Concerns also continued ...
by Elaine Frei
With producer price inflation figures weaker than had been anticipated in the UK, sterling was lower in Monday trade. The new data shows that input prices were up just 0.7 percent in April. They had been expected to rise by 1 percent. The UK currency dropped 0.2 percent versus both the US dollar and the euro ...
May 11, 2007
by Elaine Frei
Most European markets were higher on the session Friday. The FTSE Eurofirst 300 gained 0.51 percent to 1,580.75. The CAC-40 in Paris added 0.63 percent to 6,050.63, while in Frankfurt the Dax was up 0.86 percent to 7,479.34. The London markets were mixed, however, with the FTSE 100 up 0 .64 percent to 6,565.7 but the ...
by Elaine Frei
Oil prices were up slightly on Friday after the International Energy Agency issued a report questioning the market’s ability to keep up with demand for oil products. In the report, the IEA said that the Organization of Petroleum Exporting Countries must increase output soon and criticized comments from OPEC officials that they do not need to hike production. The ...
by Elaine Frei
The US dollar and the Japanese yen strengthened during the week amid a rash of central bank decisions on interest but the Australian dollar gained on both. The Australian currency added 1.1 percent over the week to ¥99.70 versus the yen and gained 1.2 percent to $08320 on its US counterpart.
The US Federal Reserve held interest rates at 5.25 percent on Wednesday, ...
by Elaine Frei
After gains early in the day prompted by core producer price data that was steady, prices on US Treasury bonds fell on Friday afternoon and yields rose as investors favored stocks over bonds. Two-year Treasury bonds yielded 4.701 percent early in the afternoon, while ten-year paper was yielding 4.660 percent. Thirty-year paper yielded 4.835 percent. Also playing into a ...
May 10, 2007
by Elaine Frei
Sentiment declined on Wall Street on Thursday as retail sales data was weaker for April than had been expected. There was also bad news on the March trade deficit. In midday trade in New York, the Dow Jones Industrial Average was down 1 percent to 13,232.52. The S&P 500 was also 1 percent lower, to 1,496.96, while the ...
by Elaine Frei
Sterling weakened against both the US dollar and the euro on Thursday. The Bank of England raised interest rates to 5.5 percent, but more important in the decline of the pound was UK trade data that was weak and industrial production numbers that were lower than had been hoped. In mid-afternoon trade in New York, sterling had lost 0.5 ...
by Elaine Frei
Prices for precious metals were much lower on Thursday. June gold was down $15.50 in early afternoon trade in New York to $667 per troy ounce, having traded in a range between $665.80 and $679.50 during the session so far.
July silver dropped 33 cents to $13.14 per troy ounce after it traded between $13.12 and $13.41 before noon. Platinum July ...
May 9, 2007
by Elaine Frei
In Europe, the continental markets saw gains on Wednesday while in the UK the FTSE 100 and FTSE 250 reported declines. The FTSE Eurofirst 300 added 0.21 percent to 1,585.01, while the CAC-40 was up 0.3 percent to 6,051 and the Xetra Dax gained 0.5 percent to 7,475.99. The banking sector was higher on profits reports, while the ...
by Elaine Frei
Crude oil prices were lower on Wednesday after the first increase in US gasoline stockpiles in 13 weeks was reported. The US Energy Information Administration reported that gasoline stockpiles rose by 400,000 barrels in the week ending May 4, to 193.5 million barrels, a bit better than analysts had anticipated. Distillate inventories wee also up, rising 1.7 million barrels ...
by Elaine Frei
The US dollar was steady ahead of the Federal Reserve’s newest decision on interest rates on Wednesday. Most analysts were expecting that the Fed would keep rates on hold. By mid-afternoon in New York, the dollar was flat at $1.3540 versus the euro.
Trade was cautious, too, ahead of Thursday’s rate decisions from the Bank of England and the European Central Bank. ...
by Elaine Frei
US Treasury bond prices were lower and yields rose after the Federal Reserve decided to leave interest rates on hold for another month. There was disappointment in some quarters that the Fed reiterated its determination to fight inflation because that means that more interest rate hikes could be coming at a time there had been hopes that rates might come ...
May 8, 2007
by Elaine Frei
The New York equities markets were lower at midday on Tuesday ahead of Wednesday’s scheduled interest rate decision from the Federal Reserve. The Dow Jones Industrial Average had dropped 0.4 percent to 13,257.06, while the Nasdaq Composite was 0.4 percent lower to 2,559.85 and the S&P 500 had fallen 0.45 percent to 1,502.74. Steelmakers were higher on bids rumors, while the ...
by Elaine Frei
Oil prices were higher on Tuesday after reports that rebels in Nigeria have carried out another oil pipeline attack there. A report from Reuters said that three pipelines were bombed, forcing Italian oil company Eni (ISE: ENI; NSYE: E) to bring to a stop 150,000 barrels a day in production shipped from its Brass terminal.
Also sending prices higher was ...
by Elaine Frei
New figures showed Tuesday that retail sales in Australia were up by 1.1 percent in March, twice the amount expected by analysts. The new data helped the Australian dollar add 0.5 percent versus the US dollar to $0.8285 in mid-afternoon trade in New York. With the new figures also came renewed speculation that the Reserve Bank of Australia might raise interest ...
May 7, 2007
by Elaine Frei
The European equities markets were quiet on Monday as the London exchanges were closed for a Bank Holiday. The Eurofirst 300 ended the session 0.02 percent higher to 1,594.3 after rising as high as 1,596.77 during the day. In midday trade, the Xetra Dax was up 0.8 percent to 7,523.48 but had dropped 0.12 percent by the close, while in ...
by Elaine Frei
The US dollar weakened on Monday ahead of interest rate decisions in the US on Wednesday and in the UK and Eurozone on Thursday. The Federal Reserve in the US and the European Central Bank are both expected to hold interest rates steady this week, although many analysts expect a Eurozone rate hike in June. Meanwhile, the Bank of ...
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