Currencies
- AUD/USD The Australian dollar declined for a second day against its U.S. counterpart after a report showing slower growth in consumer prices fueled speculation that the Reserve Bank will cut interest rates.
- The Australian dollar declined 0.5 percent to $1.0377 as of 3:58 p.m. in Sydney.
- USD/JPY The yen held gains after Europe’s debt turmoil spurred demand for refuge, boosting the currency to a post-World War II record versus the dollar yesterday.
- The yen traded at 76 per dollar as of 1:09 p.m. in Tokyo from 76.09 in New York yesterday, when it climbed to a record 75.74.
- USD/CAD Canada’s dollar weakened the most this month versus its U.S. counterpart after the Bank of Canada cut its economic growth outlook and removed a reference to withdrawing stimulus as the global economy slows.
- Canada’s currency fell as much as 1.8 percent to C$1.0213 per U.S. dollar, the most since Sept. 22, and traded at 1.0167 at 5 p.m. in Toronto.
Commodities
- GOLD advanced to the highest level in a month, extending gains above $1,700 an ounce, as concerns European leaders may fail to resolve the region’s debt crisis spurred demand for a haven.
- Bullion for immediate-delivery gained for a fourth day, rising as much as 0.7 percent to $1,717.32, the most expensive level since Sept. 23.
- Oil rose to the highest in almost three months in New York before European leaders meet to agree on a blueprint to tackle the region’s sovereign debt crisis.
- Crude oil for December delivery was at $93.49 a barrel, up 32 cents, in electronic trading on the New York Mercantile Exchange at 3:33 p.m. Sydney time.
Equities
- US Stocks fell, halting a three- day rally, as United Parcel Service Inc. slumped, economic reports missed estimates and uncertainty grew over how much progress European leaders are making in debt-crisis talks.
- The Standard & Poor’s 500 Index fell 2 percent to 1,229.05 as of 4 p.m. New York time, after gaining 3.7 percent over the previous three days. All 10 S&P 500 groups declined as a gauge of financial shares slid 3.1 percent. The Dow Jones Industrial Average sank 207 points, or 1.7 percent, to 11,706.62. The Russell 2000 Index of small companies lost 3 percent.
- The Dow Jones Industrial Average 0.66 percent, to 11,509.10.
- European Stocks slid from an 11-week high as U.S. consumer confidence fell and a canceled finance ministers’ meeting fueled concern that the region’s leaders may struggle to resolve the debt crisis at a summit tomorrow.
- The Stoxx Europe 600 Index declined 0.7 percent to 240.29 at the close of trading, having earlier climbed 0.4 percent.
- The U.K.’s FTSE 100 declined 0.4 percent and France’s CAC 40 retreated 1.4 percent. Germany’s DAX Index slipped 0.1 percent.
- Asian stocks pared earlier losses as speculation China may begin easing monetary policy tempered uncertainty about the outcome of European debt-crisis talks.
- Japan’s Nikkei 225 Stock Average rose 0.1 percent, reversing a loss of as much as 1.4 percent. South Korea’s Kospi Index was little changed. Australia’s S&P/ASX 200 rose 0.4 percent, reversing an earlier loss of as much as 1.3 percent after a report showed inflation slowed last quarter.
- Hong Kong’s Hang Seng Index retreated 0.1 percentHong Kong’s Hang Seng Index dropped 2.1 percent.
Sources: Bloomberg, FT
