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Data Lifted The EuroTitle:
Oil down, pares early losses
Oil prices recovered from early lows on Wednesday, as positive U.S. industrial output data and a weekly government report on U.S. inventories showing a much smaller build than reported by the industry, lifted gloom about global demand.
U.S. oil prices briefly swung into positive territory, recovering from losses of more than $2 a barrel early on Wednesday, after weekly data from the U.S. Energy Information Administration (EIA) showed inventories rose broadly in line with forecasts.
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Consumer shares lift Wall St, but Greece drags
Consumer shares led a modest rebound on Wall Street on Tuesday, after the S&P 500 fell for four of the past five sessions, but gains were capped as investors kept an eye on the political impasse in Greece.
Quarterly results helped boost the S&P consumer discretionary sector index, with TJX (TJX.N) up 7.4 percent at $42.65 and Dick's Sporting Goods (DKS.N) up 9.2 percent at $51.59. The S&P retail sector index .RLX rose 1.5 percent.
U.S. retail sales rose 0.1 percent in April, slightly below expectations. However, details in the Commerce Department's report indicating underlying strength in demand and a rebound in manufacturing activity in New York State calmed concerns that the economy was stalling.
"Earnings have been pretty good and supporting the market to a certain degree," said John ...
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U.S. Stocks Go Green On Upbeat Manufacturing, Greek-Government Deadlock
U.S. Stocks turned slightly positive after the opening on Tuesday, as better than estimated economic data offset concern Greece will soon exit the euro.
Equities gained after swinging this morning as manufacturing in the New York region grew more than forecast in May, helped as well by an unexpected German GDP data.
Other governmental data showed this morning that retails sales in the U.S. rose last month at the slowest pace of the year, and that consumer prices were unchanged.
However, fears from Europe loomed around the markets as Greece will hold new elections after President Karlos Papoulias failed to find the means to create a unity government.
Retailer shares gained the most in the in the S&P 500 after the government report, while Financials were lifted as well as Bank of ...
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Gold lifts from 4-1/2 month low as euro recovers
Gold prices edged back towards $1,560 an ounce in Europe on Tuesday after a positive reading of German growth lifted the euro versus the dollar, and as physical buyers stepped in to take advantage of the metal's fall to 4-1/2 month lows.
Gold remains vulnerable to more losses, however, as worries over the euro zone's future simmer in the background, keeping the single currency under pressure.
Spot gold was up 0.1 percent at $1,557.80 an ounce at 05:24 a.m. EDT (0924 GMT), while U.S. gold futures for June delivery were down $3.50 an ounce at $1,557.50.
Gold earlier hit its lowest since December 30 at $1,547.99 an ounce and is down more than 6 percent in May so far, on track for its worst monthly performance since December's washout, as talk that Greece could exit the euro zone spooked ...
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European shares boosted off lows by German data
European equities bounced up from 2012 lows on Tuesday, lifted by surprisingly strong German economic data, but concerns about the future of the euro zone and the possibility of Greece's exit from the bloc kept investors in a cautious mood.
The FTSEurofirst 300 .FTEU3 was up 0.5 percent at 1,009.12 points at 03:03 a.m. EDT (0703 GMT) after sinking as far as 998.62 in the previous session to levels not seen since December 2011.
The Frankfurt-based DAX rose 0.7 percent .GDAXI after data showed German gross domestic product grew 0.5 percent in the first quarter in seasonally adjusted terms - five times as fast as expected.
"The net export side was contributing to growth in the first quarter ... It certainly is the reason why the opening seems to be quite robust today," said Gerhard Schwarz, ...
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Euro hits 3-1/2-month low, Aussie eyes parity
(Reuters) - The euro fell to a 3-1/2-month low while growth-linked currencies like the Australian dollar tumbled on Friday as news of JPMorgan's trading losses from a failed hedging strategy and soft Chinese economic data spooked investors.
These concerns lifted the safe-haven U.S. dollar with the euro vulnerable to more losses as political deadlock keeps Greece without a government.
That has left investors fretting over the risk of the nation exiting the euro zone and fanned worries that the region's debt crisis may worsen. Traders said a reported euro option barrier at $1.2900 was the near term focus.
The euro fell at one point to $1.2905 on trading platform EBS, its lowest level since late January, with stop-loss selling adding to its drop. It last stood at $1.2915, down 0.2 percent ...
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Drop in jobless claims eases labor market fears
(Reuters) - The number of Americans submitting new applications for jobless benefits edged down last week, easing concerns the labor market was deteriorating after surprisingly weak employment growth in April.
Another report on Thursday showed the U.S. trade deficit widened in March, with exports surging to a record high and a rise in imports highlighting the economy's firming underlying demand.
Together, the reports indicated the economy remains on a moderate growth path, despite the softer jobs growth and signs the service sector slowed in April.
"The slowdown we have seen in economic activity and employment growth during in the past two months may be in the rear view mirror," said Millan Mulraine, senior macro strategist at TD Securities in New York.
New claims for state ...
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Greece and European issues still in focus; BoE to announce its monetary policy
Forex Morning Briefing : Greece and European issues still in focus; BoE to announce its monetary policy
What’s new:
Equity: Asian and US equities down on Greek political instability
Spain: Government to nationalize Bankia
Forex: AUD/USD pares yesterday’s losses on stronger unemployment rate
Forex: EUR/USD breaks the 1.2950 support, investors remain bearish
Rates in Asia and Indices:
EUR/USD 1.2925 1.2964 0.21 %
USD/CHF 0.9266 0.9293 0.21 %
GBP/USD 1.6123 1.6151 0.05 %
USD/JPY 79.61 79.77 -0.05 %
EUR/CHF 1.2009 1.20131 -0.01 %
EUR/JPY 102.91 103.36 -0.26 %
Dow Jones 12748.48 12921.81 -0.75 %
Nasdaq 2588.97 2635.71 -0.32 %
S&P 500 1343.13 1363.73 -0.67 %
Nikkei 225 8985.9 9075.63 - ...
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Copper up on technicals; China buys on dip
(Reuters) - Copper futures rose on Thursday, bouncing off the previous session's three-week lows as some Chinese investors took advantage of the dip in prices to cover short positions and restock.
While China's import and export growth came in surprisingly weak, raising doubts about growth prospects for the world's second-biggest economy, other data due this week may ease fears as they will likely show the economy has bottomed out as inflation slows and output picks up.
Meanwhile, trouble in the euro zone is expected to keep gains capped. Spain's efforts to clean up indebted lender Bankia by taking a stake in it only underlined fresh fears over the country's debts.
Greece's failure to form a coalition government also stirred fears of it backing away from austerity measures.
Three-month ...
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