GLOBAL MARKETS: Asian shares slid as a surprise rate cut from South Korea and an unexpected drop in Australian employment deepened worries about global economic growth, further sapping appetite already hit by a lack of clear clues on possible U.S. stimulus.European shares were set to fall, mirroring losses on Wall Street and in Asia, with investors seen cutting their exposure to riskier assets following uncertainty over whether the U.S. Federal Reserve would launch more stimulus measures.The Dow and the Nasdaq lost ground on Wednesday as minutes from the Federal Reserve's June meeting showed policymakers are open to the idea of more economic stimulus, but that conditions might need to worsen first.
FOREX: The dollar enjoyed a short-lived rise against the yen after the Bank of Japan refrained from easing policy but made a technical change to its asset buying programme.
FOREX-Dollar rises, then falls, on BOJ policy news
TOKYO, July 12 (Reuters) - The dollar enjoyed a short-lived rise against the yen on Thursday after the Bank of Japan refrained from easing policy but made a technical change to its asset buying programme.
The BOJ stood pat as expected, despite moves in that direction last week by central banks in the euro zone, Britain and China. It held its key policy rate in a range of zero to 0.1 percent by a unanimous vote, though it did tweak its asset-buying and lending programme.
Glum Fed keeping easing options open, minutes show
The U.S. Federal Reserve is open to the possibility of buying more bonds to stimulate the economy, but conditions might need to worsen for a consensus to build, minutes from the central bank's June meeting released on Wednesday showed.
S.Korea c.bank cuts interest rates in surprise move
The Bank of Korea cut interest rates for the first time in more than three years on Thursday, contrary to market expectations, after China cut for the second time in weeks, as risks in the global economy mounted and it sought to boost domestic demand.
Surprise Australia June employment drop raises bets on rate cut
Australian employment fell by 27,000 in June, a surprisingly weak outcome that sent the local dollar lower and led investors to price in a greater chance of further cuts in interest rates.
US crude stocks fall modestly, products mixed-API
U.S. crude inventories fell less than analysts had expected last week, and oil product inventories were mixed as gasoline stocks rose and distillates fell, according data from the American Petroleum Institute showed on Tuesday.
Chicago Board of Trade hits back against grain traders' lawsuit
The Chicago Board of Trade on Wednesday criticized a group of floor traders for suing the exchange over new rules for settling end-of-day grain prices instead of raising their concerns with federal regulators.
GRAINS: Chicago corn rose 0.8 percent, recouping some of last session's losses with support from U.S. government's estimates showing deeper reduction in yields although gains were capped by forecasts of rains in parts of the grain belt.
OIL: Brent crude stayed above $100 per barrel, after a more than 2 percent rally in the prior session, as uncertainty over whether the U.S. Federal Reserve would launch more stimulus measures curbed investor appetites for riskier assets.
INTERVIEW-South Korea to lift metals purchases if prices dip further
SEOUL, July 11 (Reuters) - South Korea, the world's fourth-biggest buyer of industrial metals, will lift purchases by its state-run procurement agency in the second half from a planned 297 billion won ($260 million) if metal prices drop further, a senior agency official said.
The Public Procurement Service (PPS) also intends to raise copper and tin purchases due to low inventory levels, PPS administrator Kang Ho-in said in an interview.
BASE METALS: Copper edged down, dropping for its fifth session in seven, as uncertainty that the U.S. Federal Reserve would launch more stimulus measures soured market sentiment, with prices in tight ranges on caution before China's GDP data.
PRECIOUS METALS: Gold edged lowe, dropping for a fourth session out of six, as investors remained cautious on indications the Federal Reserve was unlikely to launch more monetary stimulus until U.S. economic conditions weakened further.
METALS-Copper steady ahead of China GDP; Fed stimulus uncertainty weighs
SHANGHAI, July 12 (Reuters) - Copper edged down on Thursday, dropping for its fifth session in seven, as uncertainty that the U.S. Federal Reserve would launch more stimulus measures soured market sentiment, with prices in tight ranges on caution before China's GDP data.
The figures, which will be released on Friday, are expected to be the weakest since the three months to March 2009, during the global financial crisis, but may strengthen the chance of Beijing further easing its monetary policy.
PRECIOUS-Gold slips on uncertain Fed stimulus outlook
SINGAPORE, July 12 (Reuters) - Gold edged lower on Thursday, dropping for a fourth session out of six, as investors remained cautious on indications the Federal Reserve was unlikely to launch more monetary stimulus until U.S. economic conditions weakened further.
Gold's fortunes this year have largely depended on the Fed's attitude towards monetary easing and its related impact on the dollar. The greenback and bullion typically move in opposite directions and lately the dollar has trumped gold as the preferred safe-haven bet.
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