Japanese equities dropped, sending down the Nikkei 225 Stock Average to cap its biggest decline in almost one year, as the Yen strengthened against its major peers after European policy makers decided to impose a 6.75% levy on all deposits under 100,000 euros in Cyprus. The finance ministers' agreement reached on March 16th raised concerns over deepening crisis in the
Total sales of new motor vehicle in Australia stayed flat in the month of February, when it recorded a total number of 95,708 units, just 41 units less than in January, the Australian Bureau of Statistics reported on Monday, while in January it dropped 2.2%. Year-on-year, sales of new motor vehicles increased by 9.4% in February following a 10.9% gain
West Texas Intermediate oil declined on Monday falling from its highest level in three weeks after the Eurozone's finance ministers decided to raise 5.8 billion euros by putting a levy on Cyprus bank savings, which brought worries about recovery in Europe. April WTI oil futures decreased $1.31 to $92.14 a barrel on the NYME after climbing to $93.45 on March
The National Institute of Statistics reported on Monday that the Italian trade deficit declined to a non-seasonally adjusted level of 1.62 billion euros in the first month of the year, compared to a figure of 2.10 billion in the preceding month. Analysts, however, expected a reading of 2.11 billion euros in January,
The survey by Rightmove showed on Monday that the average asking price in the UK hit the highest since the beginning of the crisis in March. The average price of a house reached a reading of 239,710 pounds this month. However, housing analysts of Rightmove warn that the growth could be slower because of high volatility and pessimistic sentiment.
The RTS Index decreased by 3.1% to 1,490.08 points in the beginning of Moscow trading session on Monday. Russian stocks dropped the most since November, as investors were concerned about companies' and banks' money deposited in Cyprus financial institutions and how they will be affected by a new levy on deposits. According to the Moody's Investors Service estimation, Russia is
U.S. equities jumped for the week, yet posting small losses on Friday. Dow Jones Industrial Average climbed for a fourth week, soaring 0.8% to 14,514.11 during the last week. Stocks edged higher as data released showed that U.S. retail sales jumped twice as much as expected in the last month, pointing out that improving labor market is contributing to consumers'
The Census and Statistics Department reported on Monday that Hong Kong unemployment rate remained stable in the last month. The unemployment rate stayed at the seasonally adjusted level of 3.4% during the three last months, compared to the preceding three-month period. In the period November—January, however, it fell to 1.5%.
Gold immediate delivery price was higher by 0.3% to $1,596.95 in the beginning of Singapore trading session on Monday. Previously the price jumped 1.1% to $1,608.60 and the commodity was the most expensive since 27th of February. Cyprus problems pushed gold to a $1,600 benchmark, but physical purchasing, which was supporting gold's price in recent weeks, disappeared at these levels.
The Thailand's Baht edged lower by 0.2% to 29.68 per U.S. Dollar in the morning of Bangkok trading session on Monday. Earlier the currency touched 29.45 level - the highest points since 1997. Traders were willing to sell the currency, as technical indicators signaled about an overbought situation and a potential rebound of the Dollar. The 14-day RSI slipped to 29.3
Wheat futures for May settlement were lower by 1.4% to $7.175 per one bushel on the Chicago Board of Trade during Singapore trading session on Monday. Volume was more than twice bigger than the 100-day SMA. Investors traded on speculations that supply from Russia and the EU will increase. Also, Cyprus problems put a pressure on commodities to step lower.
U.S. shares rose for a second consecutive week, with the Standard & Poor's 500 Index trading within 5 points of a record high on better-than-expected retail sales and unemployment claims data that bolstered optimism on the world's largest economy. The S&P 500 Index climbed 0.6% to 1,560.70. Four out of ten groups in the index edged higher. CenterPoint Energy Inc.
The Taiwan Dollar dropped 2.4% against the U.S. Dollar this year, comparing with a 9.1% decline of the Yen and a 4.5% slide of the Won. Investors were speculating that the central bank will intervene to influence the exchange rate to protect local exporters. However, the Governor Perng Fai-nan said that the local currency is stable versus export counterparts and
The Euro Stoxx 50 Index futures dropped by 2.6% to 2,590 points in very early London trading session on Monday. European equity set on a slide as the Euro area made Cyprus to introduce a levy on bank deposits, what increased concern that European debt crisis will reignite. That makes traders to avoid any additional risk and consider investments in
The Nikkei 225 Index slumped by 2.7% to 12,220.63 points in Tokyo trading session on Monday. The main Japanese equity gauge was traded in the highest level since September, 2008, and that was the biggest drop since 18th of May, 2012. Japan's stocks depreciated leading by exporters, which edged lower on the appreciating Yen.
The Bank of Korea revealed on Monday that the country's producer prices inched up last month. Producer prices index added 0.7% in February, compared to a more modest increase of 0.2% in the preceding month. Year-over-year, producer prices experienced a decline of 1.6%, which was the same as in January.
The Indonesian Rupiah slipped by 0.2% to 9,723 per U.S. Dollar in the morning of Jakarta trading session on Monday. That was the biggest slide since 4th of March. The currency depreciated, as global investors were concerned about situation in Cyprus and its impact for European debt crisis, thus traders were willing to buy less risky assets than emerging market
Farm commodities were mixed on Friday amid worries over weak demand for US supplies and unfavorable weather in Argentina. Meanwhile, market players continued to monitor weather conditions in the key growing countries to gauge crops supply potential. Wheat dropped despite speculation that demand from livestock producers may climb. Sending wheat futures lower, Sovecon raised its Russia's wheat crop estimate to 85-89
Energy futures rose on Friday after upbeat US industrial production data added to hopes that the country's recovery is gaining momentum. Broadly weaker US Dollar also pushed the commodity complex higher. However, signs of rising global output as well as a recent jump in the US crude oil inventories capped gains. Crude oil jumped on hopes economic recovery in the US
Industrial metals were bearish on Friday amid elevated inventories at Shanghai Futures Exchange and an unexpected fall in the US consumer sentiment. However, losses were limited by upbeat reading of the US industrial production for February. Aluminum declined despite signs of improved demand in China. China bought 300,000 tonnes of the metal for government's stocks. At the same time, inventories
Precious metals were mixed on Friday amid broadly weaker US Dollar and expectations that the Fed will keep its bond buying programme in place. The recent data indicated US CPI rose to 2% year-on-year in February, while earlier the Fed said that it would continue its easing measures as long as inflation is not expected to exceed 2.5%. Gold drew
Palm oil decreased on Monday after a speculation that Malaysian stockpiles will hold close to its highest level as demand was reduced by 4.5% tax retained by the government and on concern that Europe might slid back into crisis after a levy on Cyprus's bank accounts. Palm oil for May delivery dropped 0.8% to 2,395 ringgit a metric ton on
The 17-nation bloc's currency depreciated versus the U.S. Dollar to the lowest level so far this year and it fell by the most in last three weeks against the Yen after finance ministers of the Eurozone decided to raise 5.8 billion Euros by taxing every bank account in Cyprus. The Euro dropped 1.4% to $1.2892 earlier on Monday London session
The MSCI Asia Pacific Index was lower by 1.7% to 134.34 points in the second part of Tokyo trading session on Monday. Asian stocks were ahead for the biggest drop in eight months, as Cyprus introduced an unprecedented levy on domestic bank deposits threatening to pull back Europe into a recession. Also, China increased down-payment requirements and interest rates for second mortgage, as