According to the U.S. Conference of Mayors data, almost a third of the biggest U.S. cities and metropolitan areas will report no economic growth or even a decline in 2013. 119 out of 363 areas are included in that list, comparing with 73 areas in 2012. Economists explain the pessimistic outlook with the recent government Shutdown and the budget sequestration
William Dudley, the head of the Federal Reserve Bank of New York said on Monday that the U.S. economy is gaining pace of growth, as the labor market improves and the economy rises better than economists expect. At the same time, he pointed out that still it is not a time to finish the QE program, while the Fed's FOMC
According to the survey of the Reserve Bank of New Zealand, economists predict the inflation in the country to stay at 1.94% in the one-year period of time, comparing with 1.90% that they awaited in the third quarter. Moreover, in two-year perspective analysts forecast the inflation to reach 2.34%. At the same time, experts predict the unemployment in New Zealand
Foreign investment into Chinese economy advanced 5.8% in January-October of the current year, comparing with the previous year, while economists see the Chinese economy to rebound and increase the pace of growth. In October, in turn, the rise of the indicator stood at 1.2%. Investment from Asian economies surged 7.2%, but from the EU countries and the U.S. it added
Total foreign purchases of Canadian stocks surged to the highest level in four years, reaching $10.79 billion in September of this year, while investors sold $2.19 billion of shares a month earlier. At the same time, the investment in Canadian government bonds declined $3.73 billion during September. Analysts explain the decrease with Canadian stable AAA sovereign credit rating.
Shares on Wall Street increased on Monday rising to their new highs with the local benchmark indexes capping sixth week of climbs as traders weighed industrial output data on speculation the Federal Reserve monetary stimulus may continue. The Standard & Poor's 500 Index added 0.4% to 1,798.18 as of 4 p.m. New York time and the Dow Jones Industrial Average
Japan's equities are likely to surpass this year's high reached in May after the Federal Reserve Chairman-nominee Janet Yellen signaled monetary stimulus may continue weakening the Japanese currency. Japan's benchmark index Nikkei 225 Stock Average climbed 7.7% last week, the largest rally in four year, while broadest Topix index jumped 5.3% in a five-day period through November 15.
The South Korean currency gained on Monday rallying for the third successive session as abroad traders increased purchases of local stocks after the Federal Reserve Chairman-nominee signaled continued stimulus boosting emerging markets. The Won advanced 0.2% to 1,061.76 per U.S. Dollar by 10:18 a.m. Seoul time.
The Australian currency increased on Monday rising against the majority of its most-traded peers after the Chinese government revealed the largest economic reform since at least 1990 boosting Australia's exports outlook to China. The so-called Aussie climbed 0.4% to 94.03 U.S. cents by 5:45 p.m. Sydney time, while the Kiwi traded at NZ$1.1248 per Australian Dollar.
Indian Rupee advanced on Monday rising to the strongest level in a week amid traders' optimism that the nation's stocks purchases may be boosted by global funds and as U.S. may continue its monetary stimulus as Yellen signaled. The Rupee gained 0.5% to 62.84 per U.S. Dollar by 9:44 Mumbai time after it reached 62.7800 earlier on the session, the
Government bonds in the Europe's largest economy fluctuated on Monday amid speculation that this week's report may show that the 17-nation bloc area's economic growth increased for the fifth successive month. German benchmark 10-year bunds yielded at 1.71% by 8:57 a.m. in London after the rates fell to 1.65% on October 31, the least since August 8.
The surplus of the Eurozone's current account slumped to 13.7 billion euro in September of the current year from 17.9 billion euro a month earlier, while analysts predicted the surplus to reach 18.3 billion euro. At the same time, economists point out that almost all the surplus comes from the trade balance, while such countries as Greece, Spain and Portugal
The British Sterling fluctuated on Monday against the U.S. Dollar and the 17-nation bloc currency after a government reports showed that house prices in the United Kingdom slipped in the month of November. The Pound traded at $1.6134 by 7:27 a.m. in London following a jump to the highest level since October 29 at $1.6143, while it traded at 93.63
Corn declined on Monday falling to the weakest level in a week after a demand for biofuels-producing crops was reduced as the U.S. government proposed changed requirements in amounts of renewable fuels such as biodiesel and corn ethanol. Corn for delivery in March fell 0.8% to $4.2725 a bushel on the CBOT, the lowest since November 11.
European benchmark Brent crude declined on Monday narrowing the WTI-Brent spread for the first time in a six-day period after the biggest producer of the OPEC, Saudi Arabia, exported 10.12 million barrels of the oil per day in September. Brent for January delivery slipped 44 cents to $108.06 a barrel on the London's ICE Futures Exchange, while the WTI-Brent spread
West Texas Intermediate crude decreased on Monday extending its longest losing streak in almost fifteen years after a report showed that Saudi Arabia increased its oil exports the most in eight years. WTI for delivery in December slid 46 cents to $9.38 a barrel on the NYMEX and traded at $93.52 as of 3:45 p.m. in Singapore, after it jumped
The U.S. Dollar slipped on Monday pushing the currency index measuring performance against its most-traded peers towards the lowest level in a week on speculation the Federal Reserve Chairman-nominee may claim a need for continued stimulus. The U.S. Dollar Index fell 0.2% to 1,015.38 as of 8:08 a.m. London time, the least since November 6.
Property prices in London declined 5% in November of this year, while the government support program did not stop the seasonal home sales' decrease. According to Rightmove Plc. data, housing prices in London dropped to the average of 517,276 pounds. In November, in turn, prices surged 10%. At the same time, the average prices across Wales and England lost 2.4%
Interest rates swaps in the U.S. declined on Monday falling to the lowest level in more than a three-year period relative to Treasuries as investors sought riskier assets outside of government debt on speculation that Fed's Chairman Janet Yellen keep borrowing costs low. The 5-year bond and similar-maturity swap gap narrowed to 9.25%, the lowest since March 2010.
European equities swung between gains and losses in Monday after the benchmark local index Stoxx Europe 600 recorded the longest streak of gains in 15 months as China's government unveiled the broadest economic reform since 1990. The Stoxx Europe 600 Index fell 0.2% to 322.51 as of 8:10 a.m. London time after it rose 6 successive weeks on speculation that
Home prices in the world's second largest economy increased to the highest level all time in the month of October just few days after the country's government revealed an economic reform aiming at long-term stable property market. New home prices in Chinese 70 major cities gained 9.6% on an annual basis rising for the tenth straight month in October.
Asia stocks increased on Monday rising for a third successive session amid speculation that the Federal Reserve may continue its bond-purchasing program and after China's lawmakers came out with new economic reform. The MSCI Asia-Pacific index outside Japan gained 1.4% as Chinese offshore market index added more than 5% on the session.
Thailand officials have cut the outlook for economic growth in 2013, while exports and investment declined. Moreover, the economic expansion in the July-September quarter did not match economists' forecasts, increasing 2.7% versus a 3% prediction. Now, the government expects the economy to advance 3% this year, while the previous forecast estimated the growth of 3.8-4.3%.
The trade surplus of Italy unexpectedly dropped to 794 million euro in September of the current year from 1.07 billion a month earlier, while analysts expected the positive trade balance to extend to 1.63 billion euro. However, the surplus surged from 131 million euro in September of the previous year. On the annual basis, exports jumped 2% versus 5.4% drop