Crude oil futures edged lower in choppy trading on Tuesday, seesawing with Wall Street in a cautious market ahead of weekly oil inventory reports and with the U.S. July crude contract approaching expiration at the end of the session.
The U.S. dollar and euro fell against the yen on Tuesday as investors turned risk-averse amid persistent doubts about China's move to make the yuan flexible and renewed worries about European banks' funding needs.
JPMorgan Chase & Co said on Tuesday that it had replaced Chief Financial Officer Michael Cavanagh with Doug Braunstein, the company's head of investment banking for the Americas.
A strike at a Japanese car parts supplier in southern China forced Toyota Motor Corp to suspend production at a Chinese auto assembly plant on Tuesday, the latest in a string of labor-related disruptions at foreign-owned manufacturers across the country.
The dollar rallied for a second straight day against the euro on Tuesday as new concerns about the funding needs of European banks offset stronger-than-expected German economic data.
Weak May U.S. housing data undercut stocks and sent U.S. Treasuries up, while Europe grappled with a fresh tremor to its banking system after Fitch downgraded French bank BNP Paribas (BNPP.PA).
The rich grew richer last year, even as the world endured the worst recession in decades.
Latin American currencies struggled for direction early on Tuesday as investors became more skeptical of China's vow to ease control over its foreign exchange rate.
Germany, France and Britain announced plans on Tuesday to introduce a bank levy to help meet the costs of the financial crisis, without waiting for a G20 summit this week, underscoring a rift with key partners.
Benchmark bank-to-bank euro lending costs edged higher on Tuesday as demand for funds increased before the quarter end and the expiry of the European Central Bank's 442 billion euro one-year refinancing operation.
The dollar gained for the second straight day against the euro on Tuesday as new concerns about the funding needs of European banks offset stronger-than-expected German economic data.
Crude oil fell below $78 per barrel on Tuesday as shares retreated and on expectations that a slow rise in China's currency would have a more limited impact on global demand than initially anticipated.
Wall Street was set for a flat open on Tuesday as investors reassessed a vow by China for more flexibility on its currency and tread cautiously ahead of data expected to show a slight rise in U.S. home sales last month.
Gold edged up in Europe on Tuesday as lower prices drew investors back to the market and expectations that gold's appeal as a refuge from risk will persist acted as a pillar of support for the metal.
The euro retreated from a one-month high against the dollar on Tuesday, tracking a pullback in the yuan a day after China's pledge to allow its currency to trade more freely had spurred risk demand.
Stock index futures dipped on Tuesday as investors reassessed a vow by China for more flexibility on its currency and turned cautious ahead of data expected to show a slight rise in U.S. home sales.
Stock index futures dipped on Tuesday as investors took a more cautious view over China's vow of more yuan flexibility, while data on home sales was on tap later in the morning.
Stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500 down 0.4 percent, Dow Jones futures down 0.3 percent and Nasdaq 100 futures down 0.4 percent at 0930 GMT.
China on Tuesday stuck to its guns on the pace of exchange rate reform, reaffirming that change must remain gradual and controllable.
Two state legislatures, Connecticut and Minnesota, have recently voted into law bills that regulate the amount of cadmium in children's jewelry.
Weaker commodity stocks and banks pushed Britain's top share index lower early on Tuesday, after gains in the previous session, as confidence prompted by China's decision to give its currency more flexibility faded.
Dollar funding costs edged higher on Tuesday as China's yuan slipped, dashing bets that Beijing may allow it to appreciate more rapidly after a pledge to make the currency more flexible.
