Taiwan's Dollar climbed to an eight-week high after growth in U.S. factory production added to optimism that the global economic improvement is gaining traction, increasing the outlook for Taiwan's exports. The Taiwan Dollar added 0.4% to NT$28.988 versus the greenback, after touching NT$28.978, the most since November 12.
U.S. equities surged after lawmakers passed a budget bill averting automatic spending cuts and tax increases. The S&P index rallied 2.5% to 1,462.42, the biggest gain in one year. All 10 groups in the benchmark index edged at least 1.8% higher. The S&P jumped 1.7% on December 31, showing the biggest gain in the last day of year since
The Aussie bounced back from almost the highest level in two weeks after concern U.S. policymakers would have problems to agree on increasing the U.S. debt ceiling surpass the bill they launched to avoid the ‘fiscal cliff'. The Australian Dollar dropped against vast majority of its 16 main peers; it touched $1.0524, while the kiwi stood at 83.97 U.S. cents,
China's service sector continued to expand in December, fuelling optimism of a recovery in the world's second biggest economy. The PMI of service sector rose 0.5 percentage points to 56.1% in December, according to data by the China Federation of Logistics and Purchasing. The reading marked an advance of three straight months. A PMI figure above 50% indicates an expansion,
The U.K.'s house prices fell modestly by 0.1% on a monthly basis in December after staying unchanged a month earlier, data by Nationwide Building Society showed today. That did not match economists' expectations of no change in house prices. A typical home is currently worth GBP 162,262. The house price index fell 1% annually during December following a 1.2% decline
Germany's jobless rate stayed unchanged in November, according to the Federal Statistical Office on Thursday. The adjusted unemployment rate was at 5.4% on a monthly basis, compared to 5.6% in November 2011. The number of unemployed fell from 2.3 million in October to 2.28 million. On a yearly basis, jobless rate decreased by 4.2%.
Brazil's currency advanced amid speculation lawmakers would allow the Real to strengthen after U.S. lawmakers introduced a bill to prevent scheduled tax increases. The Real soared along with majority of the U.S. Dollar's 16 major peers and climbed 0.3% to 2.0457 per greenback.
Asian shares advanced, pushing the regional benchmark index to the highest in 17 months, as U.S. manufacturing expanded and China's services sector sparked optimism in the world economic recovery. The MSCI Asia Pacific Index outside Japan climbed as much as 0.4% to 477.92. Hong Kong's Hang Seng Index added 0.3%, while Australia's S&P/ASX 200 jumped 0.7% to the highest level
The loonie advanced to a tree-month high versus the greenback as the U.S. House launching a deficit-reduction plan to avert automatic tax increase and prevent the threat of the U.S. economy's recession. The Canadian Dollar strengthened versus the majority of its main counterparts after the approvement of budget deal by the U.S. House and climbed 0.9% to 98.49 cents per greenback.
China's non-manufacturing sector continued to improve in December, adding to signs of a rebound in the world's second largest economy, an official survey showed Thursday.
The new 113th U.S. Congress, which convenes on Thursday, is set to take a fresh crack at a number of old, and highly contentious, issues, such as gun control, immigration, the record debt, tax reform and the farm bill.
President Anibal Cavaco Silva called for urgent action to halt the "recessionary spiral", warning Europe's leaders that the current course had become "socially unsustainable".
The Yen and greenback soared against the shared currency after investors were interested whether U.S. lawmakers could reach an agreement about the nation's debt limit increase. The Japanese currency rose 0.3% to 114.81 per Euro and it remained steady at 87.32 per greenback, while the U.S. Dollar loomed 0.3% to $1.3148 per shared currency.
Oil tumbled amid speculation that its increase to a three-month high level might have been excessive. WTI for February settlement fell to $92.49 a barrel, down 63 cents, and futures soared 1.4% to $93.12 a barrel, the most since September 18, while Brent oil for February delivery dropped 65 cents, or 0.6%, to $111.82 a barrel and New York crude
Farm commodities were mixed on Wednesday, with softs ending higher and grains sliding. Improved risk appetite after the US lawmakers agreed on fiscal reform supported rural commodities. However, signs of weak demand for US exports, firm US Dollar and upcoming index funds' rebalancing continued to create pressure on grains.Wheat tanked to a six-month low on preparation for index funds sales
U.S. blue chips rallied on Wednesday, as a budget deal was reached to halt the so-called "fiscal cliff" effect with automatic tax increases and spending cuts that would push the world's biggest economy into recession. The Dow Jones Industrial Average added 2.4% to 13,412.55 with all 30 stocks in the index edging higher. Investors' confidence was also boosted up by
Energy futures apart from natural gas moved higher, being boosted by long-awaited deal on the US budget for 2013. Better-than-expected final manufacturing PMI figures from the US and UK also were supportive for the commodity group. Crude oil shot up after the US Congress approved fiscal reforms to avert so-called fiscal cliff. Capping gains, US crude oil stockpiles dropped 0.6
Industrial metals soared in the first trading session of 2013 as a deal on the US fiscal plan prompted a rally of risky assets. Base metals also were boosted by positive PMI releases from the US and Europe. Final manufacturing PMI in the UK climbed from 49.2 to 51.4 in December while final US manufacturing PMI was revised upward from
Precious metals rallied on Wednesday alongside with risk-assets after the US House of Representatives agreed on the budget for 2013, avoiding so-called fiscal cliff. The commodity group also found strong support on speculation that central banks across the globe will continue stimulus measures to boost their economies. Gold followed riskier assets, jumping on encouraging news from the US. Moreover, investors
Gold traded near the highest level in two weeks after predictions that lawmakers would continue to sustain their economies lead to a rise in demand for store of value. Spot gold reached $1,694.81 an ounce, the most since December 18. Bullion for February settlement remained almost unchanged at $1,686.80 an ounce, and there was seen a 12th year rise as
German equities rose, sending the DAX index to its five-year high, as the U.S. lawmakers agreed on a budget bill that halts the so-called "fiscal cliff". Yesterday, the U.S. House of Representatives passed the budget legislation. Experts say another compromise in February will lead to further rally in the stock market.The German DAX index edged 1.88% higher to 7,757.96, showing
U.K. blue chips rallied to the highest level in 17 months, exceeding the 6,000 reading for the first time since July 2011, as U.S. lawmakers passed a budget deal and prevented automatic tax increases and spending cuts. The U.S. Senate approved the budget proposals in early hours on January 1. The FTSE 100 index climbed 2.35% to 6,038.48 by 16:00
Australian equities advanced to their highest level in 19 months on January 1, as U.S. lawmakers made a budget deal to avert spending cuts and tax hikes. Gains in Australian shares were mostly led by top miners, as U.S. budget deal erased concerns on possible recession in the nation's economy. The S&P/ASX 200 index rose 1.23%, or 56.99 points, to
Indian shares jumped to their highest level in 20 months after the U.S. senate passed a budget bill trying to avert the so-called "fiscal cliff" coming into effect on January 1. Experts said the agreement would give more confidence to investors of emerging-market stocks. The Indian Sensitive index advanced 0.8% to 19,580.81. The gauge has rallied 26% in 2012, as