FOREX-Yen gains on profit taking after long-awaited BOJ easing
TOKYO, Dec 20 (Reuters) - The yen firmed after the Bank of Japan, as expected, eased monetary policy, increasing its asset purchases by 10 trillion yen and saying it would review its policy goal in a likely move towards adopting an inflation target.
"The BOJ is saying it will provide funds if investors want to invest in foreign bonds... This does nothing when markets are risk-off but as soon as markets become risk-on, this is going to have a huge impact and will speed up fall in the yen," said Seiya Nakajima, chief economist at Itochu Corp.
U.S. 'fiscal cliff' talks turn sour, Obama threatens veto (Reuters)
The conflict over the stalled "fiscal cliff" talks grew more heated Wednesday and threatened to become even more so Thursday when the action is expected to shift for the first time to the floor of the U.S. House of Representatives.
Rising German business morale points to growth rebound (Reuters)
Morale at German businesses climbed in December as their confidence in the outlook rose at its fastest rate in 2-1/2 years, boosting hopes Europe's largest economy will bounce back quickly after a weak end to 2012.
GRAINS: U.S. corn prices edged higher but remained near a five-month low, weighed down by a forecast that 2013 acreage would be the largest in nearly 80 years, while soybeans fell to a three-week low on signs of waning Chinese demand. (Reuters)
U.S. corn plantings to be biggest since 1936-Informa (Reuters)
Private analytics firm Informa Economics raised its 2013 U.S. corn acreage forecast to 99.026 million acres from its previous outlook of 97.7 million, trade sources said on Wednesday.
U.S. crude stocks fall, gasoline rises on more refining-EIA (Reuters)
U.S. crude inventories fell and gasoline inventories rose for a fourth week in a row as refiners boosted their processing rates, data from the U.S. Energy Information Administration showed on Wednesday.
OIL: Brent crude slipped to trade around $110 a barrel as investors took profits after recent gains as talks to avert a U.S. fiscal crisis stalled, stoking worries about demand in the world's biggest oil consumer. (Reuters)
INTERVIEW- S.Africa wants platinum, iron ore export curb (Reuters)
South Africa is drawing up laws to force platinum and iron ore miners to sell "small amounts" of production to local processors at a discount to diversify its economy, a top trade ministry official said on Wednesday.
BASE METAS: London copper hit its lowest in three weeks as talks to avert a U.S. fiscal crisis stalled, keeping investors on edge, but losses were limited by signs of improvement in the economy of top consumer China. (Reuters)
PRECIOUS METALS: Gold edged up as uncertainty around U.S. budget talks kept investors nervous while Asia's physical buying interest failed to lift prices substantially from a more than three-month low struck earlier this week. (Reuters)
METALS-Copper hits 3-week low, U.S. fiscal talks eyed
SINGAPORE, Dec 20 (Reuters) - London copper hit a three-week low as talks to avert a U.S. fiscal crisis stalled, keeping investors on edge, but losses were limited by signs of improvement in the economy of top consumer China.
"A lot of people in Western markets are on holiday and that may make the LME market relatively quiet so (prices) are likely to remain around current levels for now," said Chunlan Li, a Beijing-based copper analyst with consultancy CRU.
PRECIOUS-Gold inches up, nerves over U.S. fiscal talks weigh
SINGAPORE, Dec 20 (Reuters) - Gold edged up but uncertainty around U.S. budget talks kept investors nervous and Asia's physical buying interest failed to lift prices substantially from a more than three-month low struck earlier this week.
"There is decent Asian physical buying but it's not enough to send prices recovering," said a Tokyo-based trader.