An office worker talks on his phone as he looks the stock board at the Australian Securities Exchange (ASX) building in central Sydney June 15, 2012.
An office worker talks on his phone as he looks the stock board at the Australian Securities Exchange (ASX) building in central Sydney June 15, 2012. Reuters/Daniel Munoz
  • In US economic data claims for unemployment insurance (jobless claims) fell by 12,000 to 267,000 in the latest week, below forecasts of 275,000. The leading index rose by 0.7% in May, ahead of forecasts. The current account deficit improved from US$113.5 billion to US$113bn in the March quarter. And the Philadelphia Federal Reserve rose from +6.7 to +15.2 in June.
  • European shares rose on Thursday with mining shares leading the way. Investors were encouraged by Chinese and US economic data but they continued to watch progress on Greek debt negotiations. The FTSEurofirst 300 rose by 0.2% with the German Dax up by 1.1% and the UK FTSE up by 0.4%. And mining shares were higher in London trade with BHP Billiton up 2.4% and Rio Tinto up by 1.0%.
  • US sharemarkets rose on Thursday. Traders were encouraged that the Federal Reserve suggested a slower trajectory of rate hikes over the next year. Economic data was stronger than expected. Shares in wearable fitness-tracking maker Fitbit rose as much as 60% on its market debut before closing up 48.4%. The Dow Jones rose by 180 points or 1.0% with the S&P 500 index up by 1.0% while the Nasdaq ended at record highs, up by 68 points or 1.3%.
  • US treasury prices were mixed on Thursday as investors dissected the Federal Reserve decision and latest economic data. US 2 year yields were down 2 points to 0.64% while US 10 year yields were up 1 point to near 2.33%.
  • Major currencies were mixed against the US dollar in US and European trade. The euro rose from lows near US$1.1340 to highs around US$1.1435 and ended US trade around US$1.1370. The Aussie dollar rose from lows near US77.30c to highs around US78.45c before ending US trade near US77.95c. And the Japanese yen held between 122.46 yen per US dollar and JPY123.14 before ending US trade around JPY122.93 at the US close.
  • World oil prices rose on Thursday, partly in response to a weaker US dollar. And Reuters reported signs of tighter supplies in the US: "Market intelligence firm Genscape reported a draw of about 870,000 barrels of crude at Cushing in the week to Tuesday, according to market sources who saw the data. Between Friday and Tuesday alone, some 1.2 million barrels were drawn." Brent crude rose by US39c or 0.6% to US$64.26 a barrel while US Nymex crude rose by US48c or 0.8% to US$60.45 a barrel.
  • Base metal prices were mixed on the London Metal Exchange on Thursday. Tin rose by 4.2% with lead up 0.5% and copper up 0.2%. Other metals fell up to 0.5%. The Comex gold futures price rose by US$25.20 an ounce or 2.1% to US$1,202.00 per ounce. Iron ore was unchanged at US$60.90 a tonne.
Ahead: In Australia, no economic data is scheduled. In the US, no key economic data is released.
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