West Texas Intermediate crude traded in New York increased on Thursday traded close to the strongest level in one week after a report showed that inventories in the U.S. dropped and as the U.S. Federal Reserve trimmed its stimulus as the economy improves. WTI for delivery in January expiring today rose 6 cents to $97.86 per barrel on the NYMEX.
The total number of applications for unemployment benefits in the United States unexpectedly advanced during the previous week, reaching 379,000. Economists, in turn, predicted this number to decrease to 336,000, on average, from 369,000 a week before. Analysts said that such fluctuations usually take place closer to the end of the year, as they recommend to look at four-week average
Trade balance in Switzerland came in surplus in November, however the figure was expected to advance from the previous month defying projections for an improvement, a report released by the Federal Customs showed on Thursday. Switzerland's trade surplus slipped from October's CHF 2.282 billion to CHF 2.112 billion in November.
Performance of the New Zealand's economy improved in the three months to September compared to the quarter before with the pace of growth beating economists' expectations, the Statistics New Zealand showed in a report on Thursday. Gross domestic product of the country rose 1.4% in the Q3 compared to a 1.1% advance originally forecast and after rising 0.2% in the
Industry activity in the Asia's second largest economy decreased in October dropping for the first time in a four-month period, however the pace of decline was lower than originally forecast, the Ministry of Economy showed in a report on Thursday. The headline index slid 0.2% on a sequential basis in October after rising 0.5% in the prior month.
Real earnings in the Europe's largest economy decreased in the three months until September, at the same time, Germany's public debt dropped 1.9% on an annual basis in the Q3, a report published by the country's statistical office showed on Thursday. German real earnings slipped 0.3% in the Q3, while in nominal terms earnings advanced 1.3% in the same period.
Retail sales in the United Kingdom recovered in the month of November matching economists' expectations, a report revealed by the Office for National Statistics showed on Thursday. According to the report, the U.K.'s retail sales inclusive auto fuel gained 0.3% on a monthly basis in November following a 0.9% fall in the prior month, while sales volume excluding auto fuel
The U.S. Federal Reserve announced on yesterday's policy meeting that it tapers the monetary easing by $10 billion totaling $75 billion per month amid recent economic data showing an improvement in the nation's economy. The Fed may reduce its bond-purchases to $35 billion in the following month rather than $40 billion a month originally expected.
Leading indicators of economic activity in Japan are forecast to show that the overall business climate slightly worsen in October with leading and coincident indexes recording 109.9 and 109.6 respectively, a survey published by the country's central bank revealed on Thursday. Japan's industry index is set to slow by 0.3% and store sales are expected to drop 0.6% in October.
Inflation in the world's second largest economy is expected to increase more than initially expected in the last quarter of 2013 after a survey showed that people seem prices higher, the People's Bank of China revealed on Thursday. Official figures showed that inflation in the country advanced from 3.2% in October to 3% in November, while the central bank's target
Wall Street shares rallied on Wednesday with the benchmark indexes Dow Jones and S&P 500 closing at historic records after the U.S. Federal Reserve announced that it trims its monetary easing by $10 billion a month. The Dow Jones industrial average surged 1.84% to 16,167.97, the Standard & Poor's 500 Index rose 1.66% to 1,810.65 and the Nasdaq Composite Index
The U.S. currency weakened on Thursday following an increase against the Japanese currency after the Federal Reserve unveiled its decision to trim its monthly bond-purchases by $10 billion as the economy slightly improved in recent months. The so-called Greenback advanced to the five0year peak at 104.37 yen after dropping to 103.96 yen.
Asian and Australian stocks increased on Thursday after the U.S. Federal Reserve representatives decided to start scaling back its monetary easing policy, however, the Fed keeps the interest rates at record lows for longer than expected. The MSCI broadest Asia-Pacific index outside Japan advanced 0.2%, while Shanghai gauge dropped 0.6%.
The European stocks climbed recovering from yesterdays drop, as the investors are waiting for the Federal Reserve bond-buying decision. The Stoxx 600 Index advanced 0.8% , still being behind 3.5% from this year's highest level. The biggest gains in Europe reported Elektrobit Corp. which jumped 14% after increasing its full-year forecast and TUI AG which surged 4.5%, after reporting full-year
Construction output in the 17-nation bloc declined at a faster pace in October from the previous month and recorded the steepest drop since May, a report published by the statistical office Eurostat showed on Wednesday. Eurozone's construction production fell 2.4% on an annual basis in October following a 0.7% slide in the prior month, in May it decreased 3.7%.
Business sentiment in the Europe's largest economy advanced to the largest figure in a twenty-month period in the last month of 2013 suggesting that the country's economy gathered growth momentum, the Ifo Institute revealed in a survey on Wednesday. The Ifo business climate index measuring sentiment in industrial and trade sector rose from November's 109.3 to 109.5 in December.
The loonie dropped for the third day, after the Bank of Canada Governor Stephen Poloz said that the recent decrease in currency was not enough to aid the exporters. The Canadian Dollar tumbled versus most of its 16 major counterparts, falling 0.3% against the U.S. Dollar, before touching the lowest level in three years.
Current account balance in Italy came in surplus in October rising on an annual basis from 4.022 billion euros in October 2012 to 1.444 billion euros this year, a report published by the Bank of Italy unveiled on Wednesday. The report also showed that Italy's merchandise trade surplus in October grew from 2.955 billion euros to 4.374 billion euros.
Housing starts in the world's largest economy climbed substantially in November beating economists' expectations and reaching the highest figure since February 2008, a report released by the Commerce Department showed on Wednesday. According to the report, U.S. housing starts advanced 22.7% totalling 1.091 million from October's level of 889,000.
Sugar traded in New York and London slipped on Wednesday falling towards the weakest levels in three years after an industry report revealed that harvests in Brazil, India and Thailand increased boosting oversupply. Refined sugar for March delivery slid 0.4% to $434.10 per ton as of 12:18 p.m. on the London's NYSE Liffe, while raw sugar expiring in the same
The Japanese Yen dropped thus halting its three day winning streak, after Japan reported unexpectedly big trade deficit of 1.35 trillion Yen in November. The Japan's currency tumbled against most of its 16 major peers, falling 0.3% versus the U.S. currency and slipping 0.2% versus the shared currency.
Wheat traded in Chicago declined on Wednesday hitting the lowest level in eighteen months amid speculation that inventories of the commodity may expand on projections that crop will reach the record high. Wheat for settlement in March fell 0.4% to $6.17 per bushel on the CBOT by 6:17 a.m. local time and was set to drop for the fifth consecutive
The Canadian wholesale trade data advanced 1.4% to $50.5 billion in October, thus exceeding the analysts expectations. The growth in wholesale trade was boosted by the surge in machinery and supplies sector which surged 5.6%, the largest monthly gain since September 2003. Significant gains in sales was also for computer and communication equipment which jumped 6.6%.
The Pound surged the most in almost two months after the U.K. unemployment dropped to the lowest level in more than four years. The sterling advanced at least 0.2% against all of its 16 major peers, surging 0.7% versus the shared currency and 0.6% against the greenback. The Pound has climbed 5.9% in the last six months, having the biggest