Expanding Deposits
The Swiss franc erased earlier losses against the euro, while retreating versus the dollar. The Swiss National Bank said today it boosted the supply of liquidity to banks by expanding sight deposits to 120 billion francs ($165 billion) from 80 billion francs. It will also conduct foreign-exchange swap transactions, a tool last used in 2008. The central bank said it's ready to take further measures if needed.
The S&P GSCI index of 24 commodities rose for the first time this week. Oil climbed 1.8 percent to $89.73 a barrel after crude inventories fell the most since June, according to the American Petroleum Institute.
Gold jumped 1.8 percent to $1,771.23 an ounce, in London the fourth consecutive gain. Commodities may outperform equities the rest of the year because of record demand and shortages, according to Barclays Capital.
The MSCI Emerging Markets Index rallied 1.5 percent, set for the biggest gain since May. Taiwan's Taiex Index advanced 3.3 percent, while the Czech PX Index jumped 1 percent.