The cost of borrowing dollars fell on Wednesday and eurodollar futures rose amid growing market conviction financing rates will remain low for a longer period.
The average cost of 3-month funds in Singapore SIUSD3MD=ABSG fell to a 15-week low of 0.35778 per cent from 0.37611 percent. The rates have fallen every day since July 16, the last time they had risen. Dollar funding costs have fallen by over 10 bps this month.
The euro struggled near key technical support levels on Wednesday as debt worries weighed, while the Canadian dollar was supported by a huge takeover bid by global miner BHP Billiton for Canada's Potash Corp.
World's largest gold producer China's output for July recorded an increase by 28.31 tones as it finds another gold reserves in Liaoning Province
According to China's Industry and Information Technology ministry, country's gold output reached 31.897 tonnes in June.
Oil prices fell on Wednesday after an industry report signaled petroleum inventories in top consumer the United States were headed for a record, following an unexpected sharp increase in crude stocks last week.
The yen rose on Wednesday, with traders citing yen-buying by Japanese players, while the Canadian dollar held gains made on news of a huge takeover bid by global miner BHP Billiton for Canada's Potash Corp.
Gold gained on Wednesday, within sight of a 1-1/2 month high hit the previous day, with sentiment underpinned by a rise in ETF holdings and persistent worries about the health of the global economy.
Investors shrugged off gains in the Nikkei, which could be short-lived because of the yen's strength against the dollar, while most economic data from the United States pointed to a slowdown in the recovery.
Gold prices were slightly up but remained volatile in Asian trade Wednesday as some investors took to profit selling.
Gold for immediate delivery was seen trading at $1225. 81 an ounce at 12.00 noon Singapore time while U.S. gold futures for December delivery were steady at $1,227.5 an ounce.
General Motors Co is considering selling a chunk of the carmaker's stock to institutions who would commit to buy and hold major stakes as the company prepares for its initial public offering, people familiar with the discussions said on Monday.
Fewer Americans fell behind on their credit card payments than expected in July, as consumers coped better with their debt, but the drop in delinquencies to their lowest levels so far this year doesn't suggest a recovery in spending, analysts said.
Top hedge fund managers went bargain hunting in the oil patch in the second quarter, buying shares whose prices had fallen because of BP's Gulf of Mexico well disaster and lower oil prices.
U.S. prosecutors on Monday recommended a six-month prison term for Robert Moffat, a former IBM executive who pleaded guilty in the Galleon hedge fund insider trading probe.
Poor growth data released in Japan yesterday was enough for investors to once again eschew riskier assets which saw the Australian Dollar dip towards 0.8860 early in the Asian session.
The AUD has opened stronger this morning gaining overnight with news that China will take over Japan's place as the world's second largest economy.
Four Democrats on a U.S. congressional panel called on regulators on Monday to press ahead with their own Internet traffic rules instead of relying on a proposal from two communications companies.
General Motors Co has completed the paperwork for an initial public offering, and timing of its filing with the U.S. securities regulators rests with the board of the top U.S. automaker, sources familiar with the process said on Monday.
Urban Outfitters Inc posted a bigger-than-expected quarterly profit on lower costs and strong sales across its brands, sending its shares up 4 percent after the bell.
BP's Deepwater Horizon disaster and falling oil prices crushed shares of energy companies in the second quarter, attracting the attention of some of the hedge fund industry's sharpest long-term investors.
Fewer Americans fell behind on their credit card payments in July, major credit card lenders said, bringing delinquencies to their lowest levels so far this year.
Investors found little reason to buy stocks on Monday as the Dow and S&P 500 ended barely changed, suggesting that even several days of losses have not convinced institutions share prices are attractive.
U.S. home builders' optimism hit a near 1-1/2 year low in August and a regional manufacturing gauge grew more slowly than expected, implying the economic slowdown continued into the third quarter.
Investors found little reason to buy stocks on Monday as the Dow and S&P 500 ended barely changed, suggesting that even several days of losses have not convinced institutions share prices are attractive.
The Federal Reserve said on Monday bank lending standards eased somewhat over the last three months while demand for business and consumer loans was largely unchanged.
General Motors Co has completed the paperwork for an initial public offering and timing of its filing with the U.S. securities regulators now rests with the board of the top U.S. automaker, a source familiar with the situation said on Monday.
Jennifer Saba and Soyoung KimHulu, the web video service that features popular shows such as Glee and Modern Family as well as movies, is planning an initial public offering that could value the company at more than $2 billion, a source familiar with the situation said on Monday.
General Motors Co has completed the paperwork for an initial public offering and timing of its filing with the U.S. securities regulators now rests with the board of the top U.S. automaker, a source familiar with the situation said on Monday.
U.S. authorities planned an autopsy on Monday of a man found dead in his Boston prison cell more than a year after being charged with murdering a masseuse he met on Craigslist, a law enforcement official said.
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The Federal Reserve on Monday published new rules aimed at protecting consumers from abusive mortgage practices, including clearer cost disclosures and a ban on payments to mortgage brokers for steering borrowers into loans with higher interest rates.
Stocks rose on Monday, led by technology shares, as investors shrugged off signs of a weak economy to wade into stocks that have become cheap.
Oil slipped on Monday in choppy trading as weak economic data in Japan and the United States fed worries about the energy demand outlook, outweighing support from a weaker dollar.
News that Japan's economy expanded by a mere 0.1 percent in the second quarter, below forecasts, weighed on Asian equities and was followed later by weak U.S. data.
