Tropical Storm Matthew heads for Central America
MEXICO CITY, Sept 23 (Reuters) - Tropical Storm Matthew formed over the western Caribbean on Thursday and was expected to hit Central America as early as Friday, the U.S. National Hurricane Center said.
The storm, which had maximum sustained winds of 45 mph (75 kph), could disrupt the coffee harvest due to begin early next month in major regional exporters Honduras and Guatemala.
Corn drops for 5th day, soy steady near 1-yr high
SINGAPORE, Sept 24 (Reuters) - Chicago corn futures lost more ground, taking weekly losses to more than 3 percent, as poor U.S. exports pressured the market, while soybeans were little changed, trading near 1-year highs on strong demand.
"Funds are record long in corn and I think the market is little bit fearful what happens if we see fund liquidation," said Brett Cooper, a senior markets manager at FCStone Australia.
Gold steady; renewed economic concerns support
SINGAPORE, Sept 24 (Reuters) - Gold prices were steady as disappointing data from the U.S. and Europe renewed concerns over the economic recovery, keeping market sentiment supported.
"In real terms it's hard to say gold prices are too high. I think the price will be quite sticky at these levels. From an investment perspective we are starting to see some substitution of gold for silver. In the other metals palladium may also benefit as a cheaper alternative to gold," Ben Westmore, commodities economist at National Australia Bank.
Yen dips, Japan stocks rise on intervention talk
TOKYO/HONG KONG, Sept 24 (Reuters) - The yen dropped on Friday, driven by rumours Japan was intervening for the second time this month to weaken it, while Japanese equities cut their losses on strength in exporter stocks.
"Given that this would be the second time (for intervention) and not as much of a surprise, I think the impact would be pretty limited at best. Even now, it seems tough for the dollar to hang onto the 85 yen level, and this will make it hard for the Nikkei to rise substantially in turn," said Masayoshi Okamoto, head of dealing with Jujiya Securities in Tokyo.
GLOBAL MARKETS: Stocks slide, bonds rise as data fails to inspire
NEW YORK, Sept 23 (Reuters) - Global stocks fell and bond prices rose on Thursday as lackluster U.S. and euro zone economic data rekindled worries over growth prospects in the developed world.
"Market technicians had been very positive on our breaking out of that range, so falling back under it added to the decline we saw and accelerated our losses," said John Stoltzfus, senior market strategist at Ticonderoga Securities in New York.
PRECIOUS-Gold holds near record high on currency fears
LONDON, Sept 23 (Reuters) - Gold held near record highs on Thursday, eyeing a breach of $1,300 an ounce, while silver flirted with 30-year peaks as the threat of currency devaluation lifted interest in the metals as a safe store of value.
Spot gold was bid at $1,291.85 an ounce at 0939 GMT, against $1,289.60 late in New York on Wednesday. U.S. gold futures for December delivery rose 60 cents to $1,292.70.
FOREX-Dollar steadies after Fed-induced fall, kiwi down
LONDON, Sept 23 (Reuters) - The dollar steadied on Thursday after sharp selling the previous day when the U.S. Federal Reserve hinted at more easing, pushing Treasury yields down and keeping the greenback pinned near a five-month low on the euro.
Market players sold dollars as they positioned for more U.S. quantitative easing later this year.
Stocks, euro slip on euro zone concerns
LONDON, Sept 23 (Reuters) - World stocks slipped while the euro fell broadly as a survey showed a slowdown in growth of the euro zone services and manufacturing sectors and concerns intensified about the region's banks.
"The bottom line is that growth momentum continues to moderate," said Marco Valli, economist at UniCredit.
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