According to the International Monetary Fund expectations, the United States will remain one of the biggest contributors to global economic expansion in the nearest future, with the average annual growth of 3.9%, contributing 0.52% to global GDP advance. Analysts point out that this number will account for around two thirds of the growth the U.S. contributed 25 years ago.
JPMorgan Chase & Co, the largest bank in the United States, posted a significant 19% decrease in its quarterly profit for the first three months on this year, while income from mortgages and fixed-income trading dropped. Net profit reached $5.27 billion, down from $6.53 billion a year ago. Today, JPMorgan Chase & Co shares decline 3.5% to $55.41 per share
Asian currencies were set for a third consecutive weekly advance, led by South Korean Won, as worldwide funds raised holdings of the regional assets on worries about U.S. interest rate increase. The Bloomberg-JPMorgan Asia Dollar Index, added 0.2% weekly to 115.71 at 11:22 a.m. Hong Kong time. The Won rose 1.7% to 1,036.25 per Dollar, while Malaysia's Ringgit added 1.4%
Asia's regional benchmark shares index slid from the highest level in approximately three months on a renewed technology stocks selloff and as Yen's appreciation pushed Japan's Topix index lower. The MSCI Asia Pacific Index retreated 1.1% to 137.72 at 2:10 p.m. Hong Kong time, while Japan's Topix slipped 1.3% to the lowest level in seven months.
European stock markets traded firmly in red for a second straight day, with the benchmark gauge approaching its biggest monthly plunge in one month tracking losses in American and Asian stock markets. The Stoxx Europe 600 slumped 0.9% to 330.57 points by 8:28 a.m. in London to post a weekly decline of 2.5%.
The Russian benchmark MICEX Index fell as much as 1% at 10:27 a.m. in Moscow, as the U.S. threatened Putin to impose more sanctions over Russia's invasion in Ukraine. The benchmark gauge has lost 10% so far this year. Today the standoff between U.S., European Union and Russia will be discussed in the G20's spring meeting.
Gold was set to post another weekly increase on Fed's minutes which showed that projections for an increase in the borrowing costs might be overstated. Gold climbed this week after Ukraine continued its security operations in the eastern cities. Gold for immediate delivery was trading at $1,320.14 an ounce by 2:20 p.m. in Singapore, up from $1.318.95 the day before.
The Greenback was set to post a weekly drop versus its major counterparts after Fed's minutes raised concerns among investors that the American interest rates will soar. The Dollar traded at $1.3892 against the single currency on Thursday, having tumbled 1.4% for this week.
Greek government plans to return on debt markets after four consecutive years of isolation. As expected, the country plans to raise around 2.5 billion euro, using 5-year bonds with a coupon of 4.75%. At the same time, the majority of economists predict that the amount of raised money will significantly exceed the plan, as the total sum of orders for
According to the survey of analysts, French bonds' yields will not increase in the nearest future, even though the country is struggling with high budget deficit and low economic growth. Meanwhile, the new Prime Minister of France Manuel Valls announced a 50 billion euro savings program until the year 2017. Moreover, the government plans to cut taxes for both households
The Australian Dollar approached the highest level in more than a four months against the U.S. counterpart after unemployment dropped surprisingly. The Aussie added 0.6% to 94.43 U.S. cents at 5:18 p.m. Sydney time from day earlier, after reaching 94.44, the strongest level since November 20, while the Kiwi rose 0.4% to 87.46 U.S. cents.
Japanese shares decreased on Thursday trading session with the benchmark stock index Topix falling for the fifth straight day extending its largest losing streak since November 2013 as the country's currency gained and as China posted lower trade surplus than originally forecast. The Topix Index slipped 0.1% to 1,149.49 and the Nikkei 225 Index stayed flat at 14,300.12.
European equities increased on Thursday following a two-day period of drops, first in three weeks, as investors thought the drop was too rapid and as automakers jumped notably with Wirecard AG climbing 5.8% and Daimler AG also notably advanced. The benchmark stock index Stoxx Europe 600 rose 0.4% to 335.16, however it has fallen 1.2% since April 4 when it
The European benchmark Brent crude decreased on Thursday trading session with the Brent-WTI premium narrowing to the lowest level since September 19 after two Libyan oil field continued to work as rebels gave away the pipes. Brent for delivery in May fell 0.5% to $107.46 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate oil increased earlier on Thursday trading session and it traded close to the strongest level in more than four weeks as demand for fuel in the world's largest economy advanced and on signs that the Chinese economy is struggle to gain its momentum. WTI for settlement in May slipped 31 cents to $103.29 per barrel on the
Core machinery orders in the Asian second largest economy decreased on a monthly basis in February with the figure falling by 8.8% totaling 769.6 billion yen, a report published by the Cabinet Office unveiled on Thursday. The report also showed that core machinery orders were originally seen to fall only by 3% after climbing by 13.4% in January.
Bank lending in the Asia's second largest economy advanced in March, however the pace of growth eased from the month before, the latest report released by the Bank of Japan unveiled on Thursday. According to the report, the country's overall bank lending was up 2.3% on an annual basis in March following a gain of 2.4% in the month before.
The Bank of England decided to maintain its benchmark interest rates at the historical low and remain its current level of monetary easing as lawmakers await stronger momentum of the country's economy, the Monetary Policy Committee said on Thursday. The BoE holds its key interest rates at 0.50% and the volume of bond purchases at a level of 375 billion
The United Kingdom's house price balance jumped in the month of March rising by more than economists originally estimated, a report released by the Royal Institution of Chartered Surveyors unveiled on Thursday. According to the report, the U.K.'s house price balance climbed to a level of 57% in March, while it was forecast to rise to 44%.
Forecast of the gross domestic product growth in the world's second largest economy was eased marginally for both years 2014 and 2015, the World Bank showed in its last report, at the same time the Fitch Ratings affirmed the country's sovereign rating at ‘A+'. China's growth is seen to record 7.6% in 2014 and 7.5% in the following year according
Chinese shipments abroad decreased in March with both exports and imports falling by more than forecast suggesting that the local economy is struggling to maintain its momentum, a data published by the General Administration of Customs unveiled on Thursday. China's exports slipped 6.6% on an annual basis in March, while imports dropped 11.3% in the same month.
Unemployment rate in Australia increased in the month of March rising by slightly more than economists initially projected, a data unveiled by the Australia Bureau of Statistics showed on Thursday. According to the report, the country's jobless rate rose to 5.8% in March compared to a level of 6.1% originally forecast.
Merchandise trade balance in the world's second largest economy posted a surplus in March exceeding initial economists' expectations, a report revealed by the custom office showed on Thursday. The country's merchandise trade surplus recorded $7.71 billion in March following a shortfall totaling $23.0 billion in February, while it was seen to post a $0.9 billion surplus .
U.S. wholesale inventories advanced in February rising by less than originally projected by economists, a report released by the Commerce Department showed on Thursday. According to the report, the world's largest economy wholesale inventories jumped by 0.5% in February following a 0.5% gain in the month before.