Gold is clawing its way back up amid signs that demand for the precious metal is soaring a week after a massive sell-off sent prices to their lowest level in more than two years.
The global economy is showing signs of slowing yet global stock markets are back near their highs for the year on growing expectations the ECB will soon join other central banks with a more expansionary policy.
Will defensive sectors take another hit on Thursday? Traders will be watching the market. Plus, a big day for earnings, with reports from Exxon, UPS, 3M, Amazon and more.
The euro rose against the dollar on Wednesday, reversing a drop to a near three-week low earlier in the global session.
U.S. Treasurys prices edged up on Wednesday as unexpectedly weak data on durable goods and a wobbly stock market supported safe-haven demand for bonds.
Gold rose as physical demand encouraged speculative buying after the previous session's drop, while support also came from weak German economic data which fueled prospects the European Central Bank (ECB) could cut interest rates.
Crude oil prices rose with Brent gaining more than $1 a barrel and U.S. crude up nearly $2 as stockpiles of gasoline declined in top consumer the United States, but gains were checked by the prospect of slowing fuel demand in major economies.
European shares closed higher on Wednesday, after weak German business sentiment data spurred hopes the ECB might move to cut interest rates when it meets next week.
U.S. stock index futures shaved their early gains following a weaker-than-expected durable goods orders report and as Apple shares weighed.
Asia's stock markets saw a return of risk appetite on Wednesday as major regional indices rose to fresh highs, boosted by a 1 percent rally on Wall Street.
Apple briefly got some of its shine back, after it delivered a package of capital programs that shareholders have been clamoring for.
Brent crude oil edged down in reaction to weak manufacturing data in China and Europe, but it closed above $100 a barrel for the second straight day as it drew some support from strong gains in U.S. equity markets.
U.S. Treasurys were little changed on Tuesday after surging briefly on a fake Twitter message from a hacked Associated Press account claiming explosions at the White House.
Gold fell to end at $1,408 on Tuesday after the outflow from the biggest gold exchange-traded fund (ETF) accelerated, investors shifted towards other assets like equities, and as a stronger dollar put pressure on prices.
The euro hit a two-week low against the dollar after weak German data fanned concerns about the euro zone economy and speculation the European Central Bank could cut interest rates.
In at least a roundabout way, Apple's precipitous and rapid fall has been the stock market's gain.
China stocks led losses in Asian markets on Tuesday, after a preliminary survey of factory managers showed factory activity slowing in April, renewing fears of a slowdown in the world's second largest economy.
In just under two weeks, this major currency has tumbled more than three percent. No, it's not the battered Japanese yen or beleaguered British pound.
The yen, which has been falling for five months, is within striking distance of the psychological 100-level against the dollar. So what could trigger a break through the key barrier?
The yen hovered near the key level of 100 to the dollar on Monday after major industrialized nations gave their stamp of approval to a massive Japanese easing program.
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