U.S. equity markets rallied, sending the benchmark S&P 500 Index to a new record high, as Japan rehearsed its plans on asset purchase plans to boost the economy, while investors were bullish on the new earnings season results. The S&P 500 Index advanced 1.2% to 1,587.73 points. All ten industries in the gauge climbed with health care and tech stocks
Unemployment in South Korea decreased in the month of March amid a notable growth of new job positions, a report released by the Statistics Korea revealed on Wednesday. The report also said that seasonally adjusted unemployment rate fell from 3.5% recorded in February to a level of 3.2% in March, while the total number of employed people advanced annually by
Trade balance in China came in deficit in the month March as imports surged and shipments out of the country rose at the slower pace, the General Administration of Customs reported on Wednesday. The report said that China's trade deficit was $884 million in March compared to an expected surplus of $15.15 billion, following a trade surplus in February at
Economic growth in most of major economies is picking up, according to a survey unveiled by the Organization for Economic Development and Cooperation on Wednesday, however India's economy is set to slow down further this year. The OECD area's composite leading economic indicator advanced by 0.13% on a monthly basis to 100.5 in February, the same growth like the month
Global merchandise trade is set to expand at the slower rate than preliminary estimated in 2013 as the global demand is reduced by the ongoing economic slowdown in Europe, a data released by the World Trade Organization showed on Wednesday. The report said that international merchandise trade is forecast to rise by 3.3% this year compared to a 4.5% growth
The Japanese currency declined on Wednesday paring its losses against the U.S. Dollar and the Euro after the Bank of Japan's new Governor Haruhido Kuroda said today that the central bank will take all steps in order to meet its inflation target. The Yen declined by 0.1% to 99.12 per U.S. dollar on Wednesday after it dropped to 99.59 yesterday,
The Canadian currency appreciated against its U.S. counterpart for the third straight day on Wednesday amid speculation that more stimulus measures by the Bank of Japan will result in higher demand for cross-border assets. The Canadian Dollar increased by 0.1% to C$1.0157 per U.S. dollar earlier on Wednesday Toronto session, while one so-called Loonie buys 98.45 U.S. cents.
Wheat traded in Chicago decreased for the second day in a row on Wednesday before a monthly crop report released by the U.S. Department of Agriculture showed that world inventories were higher before the 2013 harvest. July Wheat futures declined 0.7% to $7.0875 a bushel earlier on the CBOT as the trading was 7% higher than the 100-day average.
Gold futures traded in New York decreased on Wednesday falling from the highest level in a week amid speculation that demand for the precious metal as a wealth protection may be reduced by improving economic growth. Bullion for delivery in June dropped 0.4% to $1,579.90 an ounce earlier on the New York's Comex after it reached its highest since April
U.S. property prices are increasing on a faster pace than incomes of buyers, when they were 15% higher relative to income in February, suggesting that the house prices may decline in U.S. cities as mortgages will advance and decrease affordability, a study by the Zilliow Inc. showed on Wednesday. House prices in the country gained 10.2% in February, the largest
West Texas Intermediate oil tumbled on Wednesday after increasing for two straight days, as the U.S. report showed that inventories in the country reached their highest figure since 1981. WTI for delivery in the next month slipped 52 cents to $93.68 a barrel on the NYMEX and was traded at $93.84 at 12:46 p.m. in London after it rose 84
U.S Treasuries continued to fall on Wednesday after the Federal Reserve meeting's minutes showed that several members want the central bank to reduce its assets-buying program later in 2013 and stop it by the end of the year. The benchmark 10-year yields increased three basis points to 1.78% at 9:21 a.m. in New York after it dropped to its lowest
Industrial output in Italy fell at the slower-than-expected pace in the month of February, when it dropped annually by 3.8% compared to a 4% slide originally projected, while the overall production slipped 7.6%, the statistical office Instat reported on Wednesday. The report also showed that industrial output declined 0.8% on a sequential basis in February, while it was forecast to
Manufacturing production in France advanced in February led by a strong expansion in refining and transport sectors helping the overall output recover at the faster rate than preliminary estimated, the statistical office Insee reported on Wednesday. The report said that industrial production rose 0.7% on a monthly basis in February after it dropped 0.8% the month before.
Bank lending in Japan increased in the first three months of 2013 mainly due to a gain of lending provided by regional banks, a data released by the Bank of Japan unveiled on Wednesday. The data said that loans and discounts rose by 1.5% in the Q1 after it expanded by 1.0% in the quarter before, while the average amount
Eurostat reported on Wednesday that hourly labour costs grew in most of the European Union countries in the last year. For the period from 2008 to 2012 wages and non-wage costs gained 8.7% in EUR28, with the largest increase of 15.5% in Austria. The only country that experienced a decline in salaries was Greece, which witnessed 11.2% fall.
Wall Street finished green on Tuesday, sending higher the Standard & Poor's Index for the first back-to-back rally in almost one month, as investors cheered the earnings season kicking off, and Chinese inflation slowed. The S&P 500 Index climbed 0.4% to 1,568.61. Seven out of ten groups in the benchmark gauge edged higher. First Solar jumped 46% for the biggest
Merchandise exports in Portugal declined on a monthly basis in February amid weaker demand in Europe and the rest of the world, the Statistics Portugal reported on Tuesday. The report said that shipments out of the country dropped by 4.4% in February reversing a 19.5% rise in January, while on an annual basis exports slipped 2.6% in February after they
The performance of French economy is set to expand by 0.1% in the first three months of 2013 as the forecast stayed unchanged from the previous estimate, according to a survey released by the Bank of France on Tuesday. The survey data showed that the country's business confidence fell from 95 points in February to 93 in March, while the
Bank lending to private sector in Italy declined for the seventh successive month in February despite a low level of interest rates in the country, a report revealed by the Bank of Italy showed on Tuesday. The report said that private sector lending dropped by 1.3% in February after it slipped 1.6% in the previous month, while household lending fell
Farm commodities were mixed on Tuesday ahead of the USDA monthly Wasde report due on Wednesday. Growing fears over unfavorable weather conditions in the U.S. were supportive for the commodity complex. However, profit taking as well as forecasts of strong harvest this year weighed on rural commodities. Wheat dropped as the market awaits confirmation of China's wheat purchases from the U.S.
Energy futures apart from natural gas advanced on Tuesday ahead of the closely-watched EIA supply report due on Wednesday. Meanwhile, optimism over global stimulus after the BoJ launched a massive easing program and China's inflation slowed more than expected boosted energy demand potential. Crude oil advanced after inflation data from China. However, gains were limited as market players were cautious
Precious metals except for palladium rebounded on Tuesday after bigger-than-expected drop in China's inflation rate sparked speculation that the country has a room to ease its monetary policy. Moreover, broadly softer US Dollar lent support to the commodity group. Gold traded near an one-week high amid hopes stimulus measures across the globe will continue. At the same time, a
Industrial metals soared on Tuesday on hopes that slower inflation in China will reduce pressure on the policymakers to tighten monetary policies further. At the same time, expectations of surplus on physical markets this year coupled with high LME inventories restricted an upward trend of base metals. Aluminum gained on hopes for monetary policy loosening in China. However, expectations of an