The Rand fell from the highest level in a month versus the U.S. Dollar, posting first loss in six days, ahead of growth data, which showed the increase in prices. Consumer prices in November grew 5.6% from the previous year and were unchanged from October. The Rand depreciated 0.4% against U.S. Dollar and traded at 8.6863 per Dollar, following gain
The Yen strengthened against the Euro to almost two-week high on Mario Monti, Prime Minister of Italy, announced his intention to step down, increasing concerns that changing political situation may ditch efforts to escape the Eurozone debt crisis. Japan's currency advanced 0.4% and traded at 106.29 per Euro, following gain to 105.98, the highest level in two weeks, and gained
Japanese shares fell after data showed the nation's economy, as the GDP shrank an annualized 3.5% in the third quarter and banks forecast another contraction in the fourth quarter on falling exports and weak domestic demand. The equities rose earlier as U.S. employment data topped estimates. Moreover, the improvements in the stock market are capped by a slowdown in the
U.S. shares advanced on Friday for the third consecutive week, after positive employment data prompted for higher forecasts and budget agreement is likely to be reached in Washington. The employment rate dropped to the lowest level in four years to 7.7%.The S&P 500 surged 0.1% to 1,418.07. The gauge is 0.7% down since Barack Obama was re-elected in the presidential
Greece announced extending a deadline to 11 of December in order to attract more proposals from bondholders, as the Public Debt Agency revealed on Monday. The country has a plan to reduce its debt by buying bonds back with a par value of 30 billion Euros to upgrade its debt profile. Greece will spend 10 billion Euros for bonds
Turkey's economic growth was 1.6% in the third quarter, which was worse than a 2.6% growth expected by economists, according to Turkish Statistical Institute's report on Monday. Turkey's economic expansion eases, as the growth rate decreased from 3% in the second quarter. Also, other report showed, that industrial output dropped by 5.7% on annual basis.
French industrial output slipped by 3.6% on annual basis in October, comparing with 2% loss in the last month, according to the statistical office Insee's report on Monday. Manufacturing output was lower by 4% comparing with last year and that was sharper decline, than a 0.3% drop expected by economists. On the monthly basis, manufacturing lost 0.9% following a 3.4%
The Stoxx Europe 600 Index fell by 0.2% to 278.54 points in the very beginning of Europe trading session on Monday. European stocks slipped from a 18-month high, as the Italy's Prime Minster revealed his resignation plan. Markets are concerned about possible changes in the government, which might bring difficulties in national debt control. Monti said that he is considering
Gold futures for a February settlement were 0.2% higher, or up by $2.00, to $1,707.50 an ounce in Asian trading session in the New York Mercantile Exchange on Monday. Investors were positive for the precious metal, after mixed economic data: China's industrial output sharply increased, but export and trade surplus disappointed. Also, Friday's job data from the U.S. exceeded forecasts.
The Hang Seng Index stepped higher by 0.7% to 22,343.41 points in the middle of Hong Kong trading session Monday. Stocks started the sessions with a spike up, after the last two negative sessions, as China's industrial data was very positive, indicating 10.1% output increase over the year in November and after Friday's better than expected labor data in the
The Euro lost 0.1% of its value against the Dollar to $1.2913 and 0.2% to 106.44 versus the Yen in the early morning at London time on Monday. The Euro slipped in the lowest level in last two weeks after the Prime Minister of Italy said that he is considering a resignation, what raised concerns that changes in the government
The Topix index lost 0.2% of its value to 788.48 points and the Nikkei 225 added 0.1% to 9,533.75 points in the end of Tokyo trading session on Monday. Japanese stocks rose in the beginning of trading session after U.S. jobs report, which exceeded a forecast, but technical indicators signaled that shares might be overbought and a revised estimation of
Farm commodities apart from coffee were bearish on Friday amid soft demand for US exports and firm greenback. Meanwhile, traders anticipated US crop progress report due on Monday and World Demand and Supply Report due on Tuesday.Wheat dropped on falling US exports due to availability of cheaper supplies from Ukraine and Russia. Solid greenback and corn weakness also pushed wheat
Energy futures traded lower on Friday, weighted down by disappointing US preliminary consumer confidence reading for November and strong US Dollar. Adding to the negative mood of the commodity group, industrial production in the UK and Germany was weaker-than-expected last month. However, speculation that the Fed will stick to its ultra-easy policies limited losses of the commodity group.Crude oil retreated
Precious metals rallied on Friday, boosted by mounting speculation that the Fed will stick to its monetary policy despite recent better-than-expected economic data from the US. At the same time, greenback managed to appreciate against its major counterparts, weighting on the commodity group.Gold climbed as market participants bet the Fed would continue its loosening monetary policy as the US economy
China's exports grew at a slower-than-expected pace in November, indicating the need to diminish the country's dependence on overseas demand further. Exports gained 2.9% year-on-year in November, according to the data of the General Administration of Customs on Monday. This compared to an expected 9% growth and the 11.6% advance in October.
Euro-area sentiment grew for a fourth coherent month in December amid the highest expectations since May 2011 on the European Central Bank's promise in July to preserve the Euro calmed investors. The Sentix Investor Confidence report published on Monday showed that, following gain from -22.2 to -18.8 in November, the Eurozone investor sentiment strengthened to -16.8 in December, while economists
According to the Cabinet Office, consumer confidence in Japan fell marginally from 39.7 in the previous month to 39.4 in November, the weakest level since December 2011. The confidence index for employment dropped to 36.8 in November from 37.2 in October, and the gauge for consumers' willingness to purchase durable goods fell to 41.4 from 41.8. "It's likely that Japan's economy
Industrial metals moved higher on Friday as market sentiment improved amid hopes the Fed will continue its growth-boosting measures. However, the upside remained limited after the ECB sharply cut its outlook on the region's economy on Thursday. Meanwhile, dismal industrial production figures in Europe added pressure on base metals.Aluminum inched up despite signs of weakening demand in China. The country's
The Greece's debt buyback was extended by one day from the earlier last Friday deadline to the new deadline set on December 11, in order to meet the buyback target of 30 billion euro as a precondition of the country's creditors to approve the next financial package for the debt-burdened economy. Media in Greece reported the country received 27 billion
Oil advanced from a three-week low in New York as China's crude processing increased to a record and factory output surpassed expectations. OPEC meets in Vienna to discuss the production quota. Futures rose 0.4% after declining the past 4 days. Crude for January settlement rose 34 cents to $86.27 a barrel and traded at $86.19 at 12:42 p.m. Singapore time.
Asian stocks excluding Japan rose as U.S. jobs data overshot estimates and China's industrial output and retail sales indicated an economic recovery. The MSCI Asia Pacific Excluding Japan Index added 0.2% to 459.16 at 2:44 p.m. in Tokyo, set for the highest close since August 2011. China's Shanghai Composite Index rose as much as 0.8%, Hong Kong's Hang Seng Index
The Australian Dollar dropped from near the two-month high as China's imports and exports data trailed economists' projections, clouding the South Pacific country's trade outlook. The Aussie Dollar fell to $1.0476 at 5:02 p.m. in Sydney, down 0.1% from December 7, when the currency capped a 0.6% weekly advance. The Aussie gained to 81.48 euro cents, the highest since November
Japanese equities fell pushing down the Nikkei 225 Stock Average after a technical indicator showed the market might be overheating. However, losses were limited amid rising utilities on possibility the nuclear reactors will be restarted this summer. The Nikkei index fell 0.19% or 17.77 points to 19,527.39. The reading has gained 0.9% this week. Seven out of ten sectors fell