Service sector in U.S. expanded for the thirty ninth successive month in March, however, the growth was slower than projected, the data revealed by the Institute for Supply Management showed on Wednesday. The ISM's non-manufacturing index slipped from a level of 56 recorded in February to 54.4 the following month compared to forecast saying the reading would stay flat at
Employment of the U.S. private sector improved at a slower pace than forecast in March raising concerns about a report set to be released on Friday by the Labor Department, the Automatic Data Processing, Inc. reported on Wednesday. ADP's report said that employment added 158,000 job positions in March compared to expectation of an increase to 205,000.
The consumer prices in the Organization for Economic Cooperation and Development's area accelerated in February as an increase in energy prices overshadowed a slow-down in food prices. Year-on-year, the consumer price index advanced 1.8% in February following a 1.7% gain recorded the month before, while in December it climbed 1.9%.
The 17-nation bloc's inflation slowed down by less than economists expected in the month of March as a stronger growth in service costs was offset by notable decrease in energy prices, the data unveiled by the Eurostat showed on Wednesday. The Eurozone's harmonized index of consumer prices (HICP) fell from 1.8% to 1.7% in February, while it was estimated to
Construction sector in the U.K. continued to shrink for the fifth successive month in March, however the pace of contraction was lower than recorded in February, the data released by the Markit Economics showed on Wednesday. The construction sector Markit/CIPS purchasing managers' index rebounded from a 40-month low at 46.8 in February to 47.2 in March.
Emerging-market shares decreased for the third successive session on Wednesday led by stocks of materials producers dragged down by declining prices of commodities as tension between South and North Korea escalated. The MSCI Emerging Markets Index fell 0.4% to 1,024.78 earlier on Wednesday New York session and the S&P GSCI Index of 24 commodities dropped for a fourth day in
European equities decreased on Wednesday after they recorded their biggest gain in four weeks yesterday as manufacturing sector activity in the U.S. decreased by more than expected in March and unemployment in the world's largest economy expanded below forecast last month. The Stoxx Europe 600 Index dropped 0.8% on Wednesday after it rose 1.3% yesterday.
The British Pound appreciated on Wednesday rebounding from its weakest level in two weeks amid speculation that the Bank of England will decide not to boost the economy with further stimulus measures usually weakening the currency. The Sterling increased 0.2% to $1.5141 following a drop to its lowest level since March 20 at $1.5076 and it was 84.84 pence per
Natural gas traded in New York decreased for the fourth straight day on Wednesday amid forecasts showing that weather in the Maryland's area will be higher than average reducing demand for the heating fuel. May Natural gas futures declined by 0.3% to $3.957 per million British thermal units earlier on NYMEX today and it has advanced 18% so far in
Silver futures declined on Wednesday falling to the weakest level in eight months amid speculations that industrial consumption will fall and as employment in the world's largest consumer of silver, U.S., expanded at slower-than-forecast rate in March. Silver with May delivery fell 0.6% to $27.08 an ounce after touching its 8-month low at $26.85 earlier on Wednesday.
Corn futures decreased on Wednesday joining soybeans and wheat, which have fallen more than 20% from the beginning of 2013 after a drought hit the U.S., pushing the global crop prices down. Corn traded in Chicago lost 13% since March 28, when the inventories were bigger than forecast, but it was up 0.2% at $6.42 a bushel today, while soybeans
The U.S. Treasuries advanced on Wednesday pushing the benchmark 10-year yields close to its lowest level in a two-month period, after a report showed that employment in the U.S. increased at slowest rate than initially forecast in March signing stalling labour market. 10-year yields dropped 0.03 percentage points to 1.83% after it touched 1.824% earlier on Wednesday.
The Japanese currency appreciated against most of its major counterparts on Wednesday on speculations that the Bank of Japan's inflation target of 2% may not be achieved using the bank's monetary stimulus program. The Yen advanced by 0.5% to 93.02 per U.S. dollar earlier on Wednesday New York session after dropping 0.2% yesterday, while it was traded at 119.54 per
West Texas Intermediate oil and Brent crude extended their losses on Wednesday after the U.S. government reported that stockpiles in the country rose to the highest level since 1990. May WTI futures decreased by 88 cents to $96.31 a barrel on the NYMEX and the Brent crude futures with delivery in the same month dropped $1.26 to $109.43 a barrel
The Canadian currency was traded close to its highest level in a six-week period versus the U.S. Dollar on Wednesday after a report showed that trade deficit in Australia was smaller than originally estimated, which boosted the outlook for countries exporting commodities. The so-called Loonie advanced 0.1% to C$1.0134 after it reached C$1.0125 today and yesterday.
U.K. shares inched lower on Wednesday, as investors sat on the side-lines before tomorrow's ECB and BOJ announcements. In addition, weak data on U.S. manufacturing activity put a lid on the shares. The FTSE 100 Index retreated 0.8%, or 53.22 points, to 6,440.21 at 16:53 in London. 75 out of 101 blue chip companies posted losses, while only utility and
Hong Kong shares plunged on Wednesday giving up early gains led by Wall Street, where the U.S. shares reached new record highs. The Hang Seng Index retreated 0.1% to 22,337.49 on turnover HK$52.28 billion. Losses in the index were also led by Chinese energy sector where oil prices fell. Downward trend in the gauge was restricted by utility group that
Japanese shares advanced, with the Nikkei 225 Stock Average snapping is biggest jump in nearly two months, as U.S. factory orders surged on higher demand for motor vehicles and a two-day policy meeting of BOJ started. The Bank of Japan is forecast to increase its monthly bond purchases by around 50% at the meeting ending on April 4. The Nikkei
Most U.S. blue chips advanced on Tuesday, sending the Dow Jones Industrial Average to a record high level, as the Cypriot government finished bailout talks with the so-called troika that granted additional two years for implementing necessary international bailout measures. The Dow Jones Index jumped 0.6% to 14,662.01. Health care providers surged the most among all groups in the index,
U.S. stocks closed higher on Tuesday, with the S&P 500 Index trading at its record high, as concerns over the Eurozone's debt crisis faded and report showed factory orders climbed in February due to increasing demand for motor vehicles and aircraft. The Standard & Poor's 500 Index rallied 0.5% to end at 1,570.25. Seven out of ten groups in the
Farm commodities finished in red on Tuesday as bearish USDA report released last week continued to weigh on the commodity group. Moreover, prospects of sufficient global supplies added pressure on rural commodities. Wheat extended losses as sentiment remained weak after the USDA report showed inventories totaled 1.23 billion bushels in the beginning of March compared to expectations of 1.17 billion bushels.
Energy futures were mixed on Tuesday amid ideas that the EIA weekly supply report scheduled on Wednesday may show an increase in the US inventories. Furthermore, disappointing manufacturing numbers from the US and China weighed on global energy demand prospects. Crude oil inched down as investors expected the EIA report to show an increase in inventories by 1.8 million barrels last
Industrial metals were bearish on Tuesday tracking weak manufacturing data from the US and China released on Monday. China's manufacturing PMI reached 50.9 last month compared to a forecast of 51.6, while US final manufacturing PMI hit 54.6 versus an estimate of 55.0. China's property sector curbs coupled with instability in the Eurozone also put pressure on the base metals. Aluminum
Precious metals retreated on Tuesday as broadly stronger US Dollar amid dismal Eurozone's data releases pushed the commodity group lower. Moreover, easing worries over Cyprus bailout dampened safe haven appeal of precious metals. Gold approached a three-week low amid signs of improvement in the US economy. Strength in the US Dollar and soft investment demand also weighed on the yellow metal. Silver