British retail sales topped economist`s expectations by gaining 2.1% from January. According to forecasts, there was 0.4% rise expected. Year to year, sales increased 2.6%. The Pound strengthened 0.5% to $1.5178 versus the Dollar after data was released."There is still some hope that the economy has avoided a triple dip," said Vicky Redwood, an economist at Capital Economics Ltd. in
U.S. shares snapped losses earlier this week, as the Federal Reserve will continue asset purchasing to stimulate growth in the world's largest economy and Euro-area policy makers are working on a new finance plan for Cyprus. The Dow Jones Industrial Average added 0.4%, or 55.91 points, to 1,588.71. All but two groups in the index edged higher. Consumer services group
The New Zealand Dollar gained 0.4% to 82.62 per U.S. Dollar in the end of Sydney trading session on Thursday. The kiwi increased versus the major peers, as data indicated the fastest domestic economy growth rate last quarter in last three years. GDP expanded by 1.5% and exceeded analysts' estimation of a 0.9% expansion. Also, demand for the currency was
The South Korean Won was little changed at 1,116.30 per U.S. Dollar in the morning of Seoul trading session on Thursday. The currency was close to a 1,119.95 level, which is the weakest point since 27th of September. Markets wait for more detailed information on Cyprus issues and expect that the U.S. monetary policies will not be tightened yet.
The Japanese Yen appreciated by 0.3% to 95.77 per U.S. Dollar in the morning of trading session in London on Thursday. Markets were willing to buy the currency, as trade data indicated a lower than expected Japan's trade deficit, which contracted to 777.5 million Yen in February from 1.63 trillion yen in January. Also, investors wait for the first press
Farm commodities followed bullish trend on Wednesday as fears over Cyprus waned boosting demand for riskier assets. Moreover, signs of stronger demand for US grains as well as concerns over rain forecasts in Brazil pushed the commodity sector higher. Wheat rallied on talks that wheat's price discount to corn may result in an increase in demand from livestock producers. Iraq and
Energy futures except for natural gas moved higher on Wednesday after the EIA supply report indicated an unexpected drop in crude oil inventories last week. Furthermore, calming worries over Cyprus bailout as well as continuation of the growth-boosting measures by the Fed lifted the commodity sector. Crude and Brent oil advanced after the EIA report showed a drop in US inventories
Industrial metals were bullish on Wednesday ahead of China's HSBC flash manufacturing PMI release due on Thursday. Experts predict PMI to expand to 51.2 from 50.4 in the previous month. Moreover, decision of the Fed to leave its loose policy unchanged supported the commodity sector. Aluminum rose on expectations of production cuts and rising premium paid on the physical market amid
Precious metals were mixed on Wednesday after the Fed announced no changes to its loose monetary policy. Broadly weaker greenback also provided support to precious metals. Pushing the commodity sector lower, concerns over Cyprus started to alleviate thus dampening safe-haven appeal of the commodity group. Gold dropped as a recent increase in prices weighed on physical demand. The US Mint sold
U.S. equities rebounded from earlier losses this week, as the Federal Reserve extended its bond buying program to bolster economic growth and Eurozone's policy makers weighed options on a bailout plan of Cyprus. The S&P 500 Index rallied 0.7% to 1,558.71. First Solar jumped 5.9% for the biggest increase in the gauge to pace gains in tech shares that were
Palm oil increased to its highest level in a nine-day period on Wednesday amid speculations that inventories in Malaysia, the world's second-largest producer might be reduced by bigger exports amid a rebound in demand. June Palm futures increased by 1.1% to 2,441 ringgit a metric ton on the Malaysia Derivatives Exchange, its highest closing price since March 11.
South African currency decreased 0.6% against the U.S. Dollar amid a decision of the country's central bank to maintain its interest rates unchanged, while India's shares recorded the longest streak of losses since February 11. India's Standard and Poor's BSE Sensex edged down by 0.7 amid speculations that economic reforms might be menaced due to a withdrawal of the country's
Economic sentiment in Switzerland decreased for the first time a five-month period in March after it was improving since October 2012 and reached 10 points in February, the Credit Suisse and the Centre for European Economic Research (ZEW) reported on Wednesday. The ZEW index dropped to 2.3 points in March, while the index of current economic situation in Switzerland fell
South African Reserve Bank kept its benchmark interest rate unchanged as expected on Wednesday, as increasing inflation in the country prevented policy makers from easing monetary policy. The Monetary Policy Committee decided to maintain the repurchase rate at 5% as the inflation rate reached a 10-month high of 5.9% in February due to higher prices of food and clothing.
The Bovespa Index was lower by 1% to 56,389.48 points by midday trading session in Sao Paulo on Tuesday. The index was led by iron-ore producer Mineracao & Meralicoss SA, which posted a bigger loss than analysts estimated in a fourth quarter. Also, the index is dragged down by a weak situation in Brazilian market, as 32 of 46 companies missed earnings
The Brazilian Real appreciated by 0.1% to 1.9809 per U.S. Dollar and swap rates to January 2015 decreased by 0.02 percentage points in the morning of Sao Paulo trading session on Tuesday. Brazilian market moved along the data on inflation, which signalled about a slower-than-expected inflation rate. That boosted speculation that the central bank might resist to increase the key interest rate
Polish core inflation slowed down to its lowest figure since November 2007 in February, while the consumer price index stayed unchanged on a monthly basis at 0.1%, the country's central bank reported on Monday. The report showed that core consumer prices advanced annually by 1.1% in February following a 1.4% rise recorded the month before, while the core inflation was
U.S. natural gas increased to the highest level since November 1, 2011, after the demand was booster by colder-than-normal temperatures in northern states, which are supposed to stay below the 30-year average for more than 8 days. April gas futures advanced by 1.7% to $3.938 per million British thermal units on NYME after it improved by 6.7% last week.
U.S. homebuilder confidence dropped surprisingly in the month of March, when the homebuilder confidence fell for second successive month, data released by the National Association of Home Builders showed on Monday. The data showed the NAHB/Wels Fargo Housing Market Index decreased from 46 in February to 44 recorded in the following month, while it was forecast to rise to 47.
Consumer prices in Malaysia increased matching the economists' expectations in the month of February mainly due to an advance in food and non-alcoholic prices on the month, a data released by the Department of Statistics reported on Wednesday. The inflation rate jumped from a level of 1.3% in January to 1.5% in February, while the consumer price index added 0.2%
German equities edged higher on Wednesday, rebounding from losses throughout the last three days, as European policy makers discussed alternative options for a bailout plan after Cypriot parliament rejected the tax levy on bank deposits. The DAX Index surged as much as 0.5%, or 35.08 points, to 7,986.48 with 17 out of 30 members inching up. Five out of nine
The leading economic index of France advanced in the month of January mainly driven by an improvement in jobless claims and by positive yield spread contribution, the Conference Board reported on Wednesday. The reports said the headline index added 0.5% on a sequential basis to 114.4 in January after it declined 0.3% in December 2012.
The total number of people claiming for jobless benefits in the U.K. decreased less than expected in February, while total unemployment climb for the first time in 12 months in a period between November and January, the Office for National Statistics reported on Wednesday. The claimant count declined by 1,500 and was 1.54 million in February, while it was forecast
The Canadian Dollar, also known as the loonie, was little changed at 1.0268 per U.S. Dollar in the morning of Toronto trading session on Wednesday. The loonie fluctuated, as traders wait for more information about potential solution in Cyprus. The Cyprus' Parliament rejected a levy on bank deposits and German Chancellor said that country must take measures to change its banking system.