The British Sterling advanced on Tuesday session rising versus its European counterpart after a government report showed that performance of the United Kingdom's economy improved last year to the strongest pace since 2007. The Pound rose 0.2% to 82.31 pence a Euro as of 9:49 a.m. in London after it recorded a 0.8% drop last week.
U.S. Treasuries declined on Tuesday trading session amid speculation that the U.S. Federal Reserve may curb its bond-purchasing program further by $10 billion a month as the policy meeting begins today. The benchmark 10-year government bond yields advanced three basis points to 2.78% as of 9:02 a.m. in London.
Economic growth in the United Kingdom reached 0.7% in the last quarter of the previous year, while on the annual basis GDP advanced as much as 2.8%. Speaking about 2013, economy increased 1.9%, beating the Treasury expectations at 1.8%. Services sector of the U.K. economy surged 0.8% on a quarterly basis, while manufacturing climbed 0.9% and construction dropped 0.3%.
Business confidence among small and medium-sized companies in the Asia's second largest economy improved in January rising for the fourth consecutive time, the latest survey published by the Shoko Chukin Bank showed on Tuesday. According to the survey, the country's business confidence index rose from December's level if 51.1 to January's 51.3.
The positive balance of international trade in Sweden improved considerably in December of the previous year on the annual basis, however, it decreased substantially from November's data. The merchandise trade surplus of the country reached 1.4 billion kronor in December against 0.3 billion kronor a year ago and 4.9 billion in November. In December, exports added 5%, while imports advanced
The Central Bank of India surprisingly increased its benchmark repo rate on Tuesday by 25 basis points, as the RBI tries to decrease inflation pressure in the country. Now, the main rate is 8%, up from 7.75%. At the same time, the deposit rate, at which banks may keep money in the central bank, was adjusted down from 7% to
Import prices in the largest economy of the Eurozone continue to show a downward trend, as prices in December of 2013 dropped 2.3% on the annual basis. At the same time, the pace of decrease slowed dramatically from 2.9% in November. The negative tendency can already be seen since December 2012. Energy prices fell 5%, while non-ferrous metals became 15.5%
Unemployment in France advanced in the last month of 2013 rising towards the highest level all-time with the total figure of people without job reaching 3.3 million, the latest data unveiled by the Labor Ministry showed on Monday. French unemployment gained by 0.3% or 10,200 on a monthly basis in December, while on an annual basis the unemployment added 5.7%
Industrial profits in the world's second largest economy increased last year on an annual basis, the latest data revealed by the National Bureau of Statistics showed on Tuesday. According to the report, the country's industrial profits rose 12.2% in 2013 from a year ago, when in January-November period profits added 13.2% and in December combined profits gained 6% totaling 942.5
The U.S. Dollar strengthened on Tuesday against the Japanese Yen after falling in the previous session on speculation that the currency may decline after the U.S. Federal Reserve decides to trim its bond purchases on this week's policy meeting. The so-called Greenback inched up as much as 0.1% to 102.63 yen after slipping to 101.77, the least since December.
Wall Street stocks closed lower on Monday with the benchmark index Standard & Poor's 500 dropping for the third successive session amid speculation that the Federal Reserve may trim its bond purchases further. The Dow Jones industrial average slid 0.26% to 15,837.88, the S&P 500 Index lost 0.49% to 1,781.56 and the Nasdaq Composite index fell 1.08% to 4,083.61.
The majority of Asian shares declined on Tuesday trading session and traded near the weakest level in five months amid speculation that emerging markets may be affected by further stimulus cuts by the U.S. Federal Reserve and as China's economic growth slowed down. The MSCI broadest Asia-Pacific gauge outside Japan slipped and it has dropped 3.8% in the last three
German shares were little changed, reversing losses, as Turkey's central bank stated that it will take policies to avoid financial risks. The regional benchmark DAX Index slid less than 0.1% to 9,383.55 as of 1:54 p.m. Frankfurt time and it has fallen 1.8% this year, while the HDAX Index retreated 0.3% today. German business sentiment grew for a third straight
U.S. shares swung after the worst week in more than a year for regional benchmark indexes as Caterpillar led industrial stocks higher after better than forecasted results. The Standard & Poor's 500 Index traded at 1,790.19 as of 10:17 a.m. New York time, after falling 2.6% past week. The Dow Jones Industrial Average added 0.1% to 15,896.06.
Gold futures declined from the highest level on bets that the Fed will scale back their bond-buying programme this week, decreasing demand for the yellow metal. Bullion futures for April delivery slid 0.2% to $1,262.10 an ounce as of 10:23 a.m. New York time, after the price approached $1,280.10, while silver futures for March delivery added 0.4% to $19.835 an
The Japanese Yen dropped as demand for the safe haven assets ebbed on better than forecasted data from Caterpillar Inc. and as Germany's business confidence grew to the highest level in two and a half years. The Yen slid 0.4% to 102.76 Yen per Dollar as of 9:43 a.m. in New York, while the Euro strengthened 0.3% to 140.37 Yen
The British currency reached the highest level in two and a half years against the greenback ahead of tomorrow's growth data that are expected to show the first annual advance for nation's economy. The Sterling added 0.6% to $1.6585 at 2:49 p.m. in London, after gaining to $1.6668 on January 24, the strongest in more than two years. The Pound
One of the main rating agencies Moody's decided to cut the credit rating of Sony Corp. to the Ba1 level, which is one level below the investment grade of Baa3. At the same time, the outlook remained stable. Moody's pointed on the problems in PC and TV units of the company, which still bring losses. Today, Sony Corp. shares dropped
As the European Central Bank tries to keep monetary policy dovish and fights for low borrowing costs for households and companies, rising overnight market rates pose dilemma for the regulator. While market rates have already climbed above the main ECB rate, Mario Draghi said that it is still not the time to cut stimulus. Moreover, the ECB is ready to
Economic growth in the United Kingdom probably remained almost unchanged from the trend seen during last several quarters, as the GDP could add 0.7% in the October-December quarter. At the same time, the Bank of England said it will not hurry in cutting stimulus in order to give the economy some extra opportunities to gain strength, hoping for an increase
Natural gas traded in New York advanced on Monday rising for the fifth straight session and was set to record its strongest close in nearly four years as demand for heating oil rises due to arctic cold weather in the U.S. Natural gas for settlement in February surged 5% to $5.442 a million British thermal units on the NYMEX and
Gold declined on Monday trading session falling from the highest level in a two-month period on speculation that the recent rally of the precious metal was too rapid and as the U.S. Federal Reserve may cut its stimulus on this week's policy meeting. Bullion for January delivery dropped 0.2% to $1,268.14 an ounce as of 4:15 p.m. Singapore time.
European shares declined on Monday trading session after falling by the most in two days since June amid concerns that the global economy is recovering slower than expected as emerging markets contract. The benchmark index Stoxx Europe 600 slipped 0.5% to 323.02 as of 8:13 a.m. London time after it sank 3.4% in the previous two session last week.
China's shares decreased on Monday trading session with the local benchmark index dropped as Hong Kong equities led the decline towards the lowest level in five months on speculation that companies' earnings may be affected by an economic slowdown in the region. The Hang Seng China Enterprises Index fell 2.2% to 9,792.58 and the Shanghai Composite Index lost 1% to