Stock index futures pointed to a slightly lower open on Wall Street on Monday, as investors take a breather following last week's strong gains sparked by a flurry of reassuring company earnings.
The euro erased early gains against the dollar on Monday as caution set in after initial investor calm in the wake of the release of European banks' stress test results late on Friday.
Early risk-taking sentiment faded, with European shares down 0.4 percent .FTEU3 by mid-morning.
Just seven of 91 banks failed the tests, including six in Spain and Greece, for an overall capital shortfall of 3.5 billion euros.
Robust U.S. company earnings and surprisingly vigorous euro zone economic data generally trumped investor skepticism about European bank stress tests on Monday to lift global stocks and bolster the euro against the dollar
Gold gained on Monday on bargain hunting and purchases from jewelers but investors were on the sidelines after a European bank stress test showed few surprises and failed to spur safe-haven buying last week.
Platinum rose to its strongest in nearly a month on fund buying driven by gains in equities. Asian shares rose as solid U.S. corporate earnings and strong euro zone data offset growing skepticism the banks were not rigorously examined.
The euro firmed against the dollar on Monday as investors bought into riskier assets, calmed after the release of European banks' stress test results late on Friday.
Just seven of 91 banks failed the tests, including in Spain and Greece, for an overall capital shortfall of 3.5 billion euros.
Japanese exports rose more than expected in June from a year earlier but the pace of increase slowed for the fourth straight month, a sign the economic recovery may lose steam on moderating overseas demand.
Daily foreign exchange trading volume in Tokyo rose 15.7 percent this year from a year earlier, thanks to the rising popularity of FX margin trading among Japanese individual investors, a survey by a banking industry group showed on Monday.
Japan's government needs to weaken the yen and undertake an expansionary fiscal policy to beat deflation, the leader of Japan's Your Party, a small opposition party that made strides in an upper house election, said on Monday.
Google's dominant position on the global online search market slipped slightly in the second quarter, as it retreated from the Chinese market, research firm Strategy Analytics said on Friday.
Oil rose past $79 on Monday, supported by improved risk appetite and expectations that a forecast severe Atlantic hurricane season could bring further disruptions to oil and gas operations in the U.S. Gulf of Mexico.
Asian shares rose and the euro extended gains on Monday as solid U.S. corporate earnings and strong euro zone data offset growing skepticism that a stress test on European banks were not strict enough.
Gold prices recovered in Asian trade Monday mainly on bargain hunting while euro's gains also helped the bullion.
Gold for immediate delivery was seen trading at $ 1192.48 an ounce at 12.00 noon Singapore time while US gold futures for August delivery was at $1,192.2 an ounce after settling nearly $8 lower on Friday following the European stress tests.
Fund flows into commodity markets continued to rise in the first half of 2010 despite the difficult six months but analysts are increasingly warning of a slowdown as weak returns dent investor confidence.
Money managers have piled into commodities in recent years in search of stronger returns and protection away from the troubles of equity and bond markets during the financial crisis. But for many, the promise of diversification, hedges against inflation and any kind of correlation between risi...
The euro hit a seven-week high against the yen on Monday as a rise in shares prompted dealers to unwind long yen positions, but scepticism about the credibility of the euro zone's bank stress tests limited its gains versus the dollar.
Investors took some reassurance that European banks had passed stress tests on their ability to deal with a debt crisis, prompting European stock futures prices to rise on Monday.
The euro edged up and Asian shares rose on Monday as solid U.S. corporate earnings and surprisingly strong euro zone data offset growing skepticism that stress tests on European banks were not strict enough.
EU tests of banks' ability to withstand financial shocks, criticized as too easy after only 7 out of 91 failed, face their own stress test in the markets on Monday with early signs pointing to a more positive response.
Japan's three biggest banks are expected to report solid first-quarter results this week, driven by bond trading profits and lower credit costs, but few will see it as a sign of full-fledged recovery as their core lending activities remain sluggish.
There is no basis for a major appreciation in the yuan exchange rate, the State Information Center, a government think tank, said on Monday.
Worries that China is throwing up obstacles to foreign business are misplaced, Commerce Minister Chen Deming said in an article published on Monday.
The Australia Dollar has opened up in the mid 0.8900's after another modestly strong showing from US and European equity markets on Friday.
Despite the uncertainty facing the European banking system the AUD/USD remained range bound on Friday bouncing between 0.8900 and 0.8970 for the majority of the Asian and offshore trading sessions.
What's odd about this scenario?German business confidence is soaring while U.S. consumer sentiment sinks.
The economy is not likely to slip back into recession but letting tax cuts for the wealthiest Americans expire is necessary to show commitment to cutting budget deficits, Treasury Secretary Timothy Geithner said on Sunday.
The U.S. economy is not likely to slip back into recession but letting tax cuts for the wealthiest Americans expire is necessary to show commitment to cutting budget deficits, Treasury Secretary Timothy Geithner said on Sunday.
Japan's Mizuho Financial Group Inc , Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group Inc are likely to have each achieved net profits of over 100 billion yen ($1.14 billion) for the April-June period, the Nikkei business daily said on Sunday.
The United States, which targeted Swiss bank giant UBS in a damaging tax fraud probe last year, is not planning to carry out new tax investigations against Swiss banks, the U.S. ambassador to Switzerland said.
Just seven European banks failed a health check and were ordered to raise their capital by 3.5 billion euros ($4.5 billion), confirming fears the continent's long-awaited stress test was too soft.
Russia plans its biggest sell-off of state assets since the early 1990s as it seeks to raise over $29 billion to plug budget gaps over the next three years, finance ministry sources told Reuters on Saturday.
Iran and Turkey has singed a one billion euro pact for building natural gas pipeline for transferring Iran gas to Turkey. As per the contract, Turkey to contribute 77% of total required fund for completing the 660- kilometer pipeline.
If anybody thought the recent slide in gold prices is an indication of the yellow metal's losing power to sustain above $1,200 per ounce level, think again. According to analysts, gold prices are set to rise and rise in the coming months and years. They said gold prices are set to mark an eleventh year of gains in 2011 as investors seek refuge from an uncertain global economic outlook.
