Currencies

• EUR/USD The dollar weakened yesterday after optimistic U.S. economic data boosted investors' appetite for assets like stocks than safer havens.
  • The dollar was at $1.4517 versus the euro as of 2:10 p.m. in Tokyo from $1.4511 yesterday in New York.
  
  

• USD/JPY The yen declined against most of its peers as stocks extended a global rally before reports, economists say, will show Asia's biggest emerging economies remain resilient.
  • Japan's currency bought 76.85 per dollar from 76.83.
  
  

• GBP/USD The pound has been ranging since yesterday against the dollar between $1.63818 and $1.64220.
  • The British currency was trading at $1.63891 around 7:30 a.m. London time.
  
  

Commodities

• Gold fell as equities' gains damped investor demand for the metal as a refuge asset.
  • The contract for August delivery lost $5.80, or 0.3%, to settle at $1,788.30 a troy ounce. The contract expired at yesterday's settlement.
  • Gold futures for December delivery fell $5.70, or 0.3 percent yesterday, to settle at $1,791.60 at 1:48 p.m. on the Comex in New York.

• Oil rose in New York as investors bet that a strengthening U.S. economy and the return of East Coast refinery operations after Hurricane Irene will spur demand for crude.
  • Crude for October delivery rose as much as 45 cents to $87.72 a barrel in electronic trading on the New York Mercantile Exchange and was at $87.41 at 2:40 p.m. Sydney time.
  • Brent oil for October settlement gained 26 cents, or 0.2 percent, to $112.14 a barrel on the London-based ICE Futures Europe exchange.

Equities

• US Stocks rose amid optimism the economy will recover and after Hurricane Irene failed to shut financial markets.
  • Bank of America Corp. (BAC) rose 8.1 percent after agreeing to sell about half its stake in China Construction Bank Corp.
  • The S&P 500 rose 2.8 percent to 1,210.08 at 4 p.m. in New York.
  • The Dow Jones Industrial Average gained 254.71 points, or 2.3 percent, to 11,539.25.


• European stocks rose yesterday after two days of losses dragged equities near to the cheapest valuation in more than two years and a report showed U.S. consumer spending gained in July.
  • EFG Eurobank Ergasias SA (EUROB) and Alpha Bank SA jumped by the maximum 30 percent after agreeing to merge to create Greece's biggest bank.
  • A report yesterday showed U.S. consumer spending climbed more than forecast in July. Purchases rose 0.8 percent, the biggest gain since February.
  • U.K. equities were closed for a holiday.
  • France's CAC 40 rose 2.2 percent and Germany's DAX Index advanced 2.4 percent.

• Asian stocks rose for a fourth day after U.S. consumer spending and car sales increased and as companies across the region reported higher profit.
  • Toyota Motor Corp. (7203), the world's biggest carmaker, gained 1.1 percent in Tokyo and Sony Corp. jumped 4.1 percent.
  • The MSCI Asia Pacific Index gained 1.3 percent to 123.61 as of 1:52 p.m. in Tokyo.
  • Japan's Nikkei 225 (NKY) Stock Average advanced 1.3 percent.
  • Hong Kong's Hang Seng Index climbed 2.1 percent, while China's Shanghai Composite Index rose 1.4 percent.

Sources: Bloomberg, FT