Separately, the Australian central bank decided to leave interest rates unchanged, saying that China growth is not slowing further. The country is the No. 1 business dealer with China. The Australian dollar was soaring close to a five-month high.
The U.S. economic calendar featured only consumer credit for June, which swelled by $6.5 billion, less than the consensus estimate for a $10 billion increase. May's surprise $17.1 billion jump was revised down to $16.7 billion.
September crude oil futures settled up $1.47 at $93.67 a barrel. December gold futures settled down $3.40 at $1,612.80 an ounce.
The benchmark 10-year Treasury fell 17/32, raising the yield to 1.629%. The greenback was up 0.01%, according to the dollar index.In Europe, Italy's national statistics office reported that the economy there shrank for a fourth consecutive quarter in the second quarter and reported a bigger-than-expected drop in June industrial production. German manufacturing orders declined in June. Also, the Office for National Statistics reported a less than expected fall in industrial output in the United Kingdom for June. The FTSE in London closed up 0.56% and the DAX in Germany settled up 0.71%. Hong Kong's Hang Seng index closed up 0.37% and the Nikkei in Japan finished up 0.88%. British bank Standard Chartered saw its shares drop sharply Tuesday following charges from the United States that the bank was involved in laundering money for Iran. New York State Department of Financial Services alleged on Monday that Standard Chartered "schemed with the Government of Iran and hid from regulators roughly 60,000 secret transactions, involving at least $250 billion, and reaping SCB hundreds of millions of dollars in fees," over a nearly 10-year period.
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