Important Financial Indicators of the day
ForecastPrevious
GBP 09:30 (GMT) Public Sector Net Borrowing13.2B -1.8B
CAD 13:30 (GMT) Core CPI m/m 0.3% -0.1%
EUR 14:00 (GMT) Belgium NBB Business Climate-11.1 -11.8
USD17:40 (GMT) FOMC Member Lockhart Speaks


Currencies

EUR/USD The euro dropped the most in two months against the dollar as services and manufacturing in the region shrank to a three-year low, adding to evidence the central bank will need to do more to spur growth.

  • The euro dropped 0.6 percent to $1.2968 at 5 p.m. New York time, after sliding 1.1 percent, the biggest decline since July 20. The shared currency weakened 0.8 percent to 101.47 yen and declined for a fourth day versus the Swiss franc, depreciating to 1.21010 francs. The yen strengthened 0.2 percent to 78.24 per dollar.

AUD/USD Australia’s dollar rose versus most major peers on prospects the U.S. Federal Reserve will support growth and Europe is progressing toward a resolution of its debt crisis, boosting demand for higher-yielding assets.

  • The Australian dollar rose 0.3 percent to $1.0468 at 12:59 p.m. in Sydney. It bought 81.89 yen, 0.3 percent higher than yesterday’s close. Its New Zealand counterpart, nicknamed the kiwi, added 0.1 percent to 83 U.S. cents and gained 0.1 percent to 64.94 yen.

USD/JPY The yen headed for a weekly gain against most major peers as signs of a global economic slowdown spurred demand for the refuge of Japan’s currency.

  • The yen was little changed at 78.25 per dollar as of 12:33 p.m. in Tokyo from 78.24 in New York, poised for a 0.2 percent advance this week. The Japanese currency traded at 101.53 per euro from 101.47 yesterday, when it strengthened 0.8 percent. It has gained 1.4 percent since Sept. 14.

USD/CAD Canada’s currency declined the most in eight weeks against its U.S. peer as global reports signaled an economic slowdown, damping demand for higher-risk assets.

  • The Canada’s currency slipped 0.3 percent to 97.69 cents per U.S. dollar at 5 p.m. in Toronto, after declining as much as 0.7 percent, the most since July 23. One Canadian dollar buys $1.0237.

Commodities

Oil advanced in New York as investors speculated that the biggest weekly decline in more than three months was exaggerated.

  • Oil for November delivery advanced as much as 81 cents to $93.23 a barrel in electronic trading on the New York Mercantile Exchange and was at $93.13 at 1:15 p.m. Singapore time. It climbed 12 cents yesterday to $92.42. Prices are down 5.9 percent this week, the biggest decline since the period ended June 1. The October contract expired at $91.87, down 11 cents.

Gold traders extended their bullish streak as analysts from Bank of America Corp. to Deutsche Bank AG forecast record prices by next year after central banks pledged more action to bolster economic growth.

  • Gold rose 13 percent to $1,770.45 an ounce in London this year, reaching a six-month high on Sept. 19 and extending 11 consecutive annual gains. It set a record $1,921.15 in September last year.

Equities

Asian stocks rose, paring the regional benchmark index’s first weekly decline in three weeks, as Apple Inc.’s iPhone 5 debut boosted information technology shares and energy companies advanced on higher crude prices.

  • The MSCI Asia Pacific Index climbed 0.6 percent to 123.24 as of 12:47 p.m. in Tokyo, paring this week’s drop to 0.3 percent. It fell yesterday by the most in two months as economic data in Japan and China disappointed investors and ahead of a weaker-than-expected U.S. unemployment report.

European stocks declined for the third time in four days after a report signaled that Chinese manufacturing will contract for an 11th month, adding to concern the global economic slowdown is deepening.

  • The Stoxx 600 slipped 0.2 percent to 274.5 at the close, while the Euro Stoxx 50 gauge of the biggest companies in the euro area dropped 0.6 percent. The Stoxx 600 has still climbed 17 percent from this year’s low on June 4 as European Central Bank policy makers agreed to implement an unlimited bond-buying program and the Federal Reserve unveiled its third round of asset purchases.

U.S. stocks Most U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for the third time in four days, as data from China to Japan and Europe increased concern that a global economic slowdown is worsening.

  • The S&P 500 lost 0.1 percent to 1,460.26 at 4 p.m. in New York, trimming an earlier decline of as much as 0.8 percent. The Dow Jones Industrial Average rose 18.97 points, or 0.1 percent, to 13,596.93. Nine stocks fell for every five advancing on U.S. exchanges at 4 p.m., with about 6.2 billion shares trading hands, almost in line with the three-month daily average.