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Mon, 20 Aug 2012 17:19:45 GMT

Home sales and goods orders estimated to rise

Home sales and durable goods orders probably surged in July, showing the U.S. is rebounding from a second-quarter slowdown, analysts said ahead of upcoming reports. Combined purchases of existing and new homes are estimated to rise  to a 4.89 million annual rate, compared to 4.72 million in June. Orders for long-lasting goods are expected to increase the most in 2012.

Mon, 20 Aug 2012 17:08:45 GMT

Euro cuts rise as Budesbank sees risk in bond-buying plan

The Euro pared its gain versus the U.S. Dollar and fell against the Yen as Germany's Bundesbank announced government bond buying "entail significant stability risks." Europe's shared currency declined 0.1% to $1.2318, after a 0.3% gain. It dropped 0.2% to Y97.92, after an earlier 0.2% rise.

Mon, 20 Aug 2012 16:57:46 GMT

Loonie trades near 3-month high versus U.S. Dollar

Canada's currency traded near a three-month high against the U.S. counterpart on better U.S. economic expansion prospects and belief ECB is moving towards cutting the sovereign-debt recession. On Monday, the Loonie was stable at 98.90 cents per U.S. Dollar, after touching 98.60 cents on Aug. 16, the strongest since May 3. One Loonie buys $1.011.

Mon, 20 Aug 2012 16:46:45 GMT

Spain bond yields drop on ECB intervention speculation

Spain's 10-year bond yields tumbled to a seven-week low amid speculation ECB will create a plan limiting indebted nation's bond yields to stabilize the Eurozone's debt crisis. The 10-year yields declined to 6.23% on Monday, after trading at 6.16%, the least since July 2. The two-year yields fell to 3.36%, the lowest since May 8. German Bunds dropped for the

Mon, 20 Aug 2012 16:35:45 GMT

Greece current account deficit drops in June

Greece's current account deficit declined dramatically on year in June, Bank of Greece said on Monday. The current account shortfall dropped to EUR 274.3 million from EUR 1.598 billion in previous year. The income account deficit fell to EUR 243.4 million in June, compared to EUR 1.233 billion in 2011. Meanwhile, current transfers deficit declined to EUR 11.3 billion from

Mon, 20 Aug 2012 16:13:45 GMT

Germany growth rate seen weaker in second half

The German economy is expected to expand slower during the second half of the year, pressured by the decreasing demand from Eurozone, the Finance Ministry announced on Monday. The most recent data showed the GDP gained 0.3% on quarter in the Q2. Tax revenue surged 5% on year through July, supported by the rise in employment and wages.

Mon, 20 Aug 2012 16:02:45 GMT

U.K. gross mortgage lending climbs in July

U.K. gross lending rose 8% on month to 12.7 billion pounds in July, reported by Council of Mortgage Lenders on Monday. Gross mortgage lending surged 2% on year-on-year basis. Analysts are waiting for the September figures, largely influenced by the bias effects of the Olympics and the Diamond Jubilee.

Mon, 20 Aug 2012 15:51:45 GMT

Euro area construction output tumbles

Euro area's construction output fell for the third straight month in June, as Eurostat reported on Monday. A seasonally adjusted output declined 0.5% from May, when it dropped 0.2%. Building construction tumbled 0.1%, compared to stagnation in preceding month. On yearly basis, output slid 2.8%, compared to a 8.1% decrease in May.

Mon, 20 Aug 2012 14:49:45 GMT

Treasuries fall before housing, factory data

U.S. Treasuries dropped, prolonging a four-week slid, as Der Spiegel magazine showed ECB is planning to put limits on Eurozone bond yields to sustain the area's debt crisis. On Monday, benchmark 10-year yields climbed to a three-month high of 1.84% before U.S. data this week, expected to post durable goods orders and home sales rose last month.

Mon, 20 Aug 2012 14:16:46 GMT

German equities rose; technology firms led gains

German blue chips jumped on Monday ahead of talks between EU leaders regarding Greece's request. Greece asked EU officials to prolong the period of its budget adjustment reforms by two years. The German DAX Index gained 0.30% to trade at 7,049.64 at GMT 12:00. All industries included in the index climbed. The top-gainers were technology and industrial stocks. SAP and

Mon, 20 Aug 2012 14:05:45 GMT

UK stocks slide on Eurozone's concerns; miners weight

UK shares were mostly lower on escalating worries over the Eurozone's debt crisis as Greece requested a two-year extension to the country's fiscal adjustment plan. Meanwhile, a sharp fall in Lonmin stock price amid persistent violence at its South African mine dragged UK miners lower. The FTSE 100 Index lost 0.28% to trade at   5,830.10  at GMT 12:00. Five out

Mon, 20 Aug 2012 13:54:45 GMT

U.K. real estate prices decline

U.K. home sellers decreased asking prices by a record in August after the London Olympic Games and an unstable economic outlook confused potential buyers. Benchmark asking prices in England and Wales dropped 2.4% to 236,260 Pound from July, after a 1.7% slid, as reported on Monday. Costs tumbled 1.2% in London.

Mon, 20 Aug 2012 13:44:02 GMT

U.S. Leading Index jumped surprisingly in July

The U.S. CB leading economic index unexpectedly rose to 0.4% in July, after a 0.4 per cent drop in the month earlier, proving that the world's biggest economy is growing sustainably. Despite positive economic data during last month, the unemployment rate remains above 8% level since February 2009.  In the meanwhile, the U.S. economy grew by a tepid 1.5% in the second quarter, after expanding at

Mon, 20 Aug 2012 12:10:46 GMT

Chinese shares edged down on rising home prices

The Hang Seng Index inched down by 0.06% to close at 20,104.27 on Monday amid concerns that the PBOC will not implement stimulus measures as real estate prices started to rise again. In July, new house prices jumped in 50 out of 70 large and medium Chinese cities. Only four sectors in nine included in the index moved higher. On

Mon, 20 Aug 2012 09:35:45 GMT

Nikkei rose despite fading hopes for China's easing

Japanese stocks climbed on Monday amid rising optimism over the Eurozone's and US economies. However, speculation that China will not ease its monetary policy on alarming signs from its property market capped the upswing.  New home prices jumped in 50 out of 70 big and medium China's cities in July. The Nikkei 225 Index gained 0.10% to trade at 9,171.16.

Mon, 20 Aug 2012 09:24:49 GMT

Dow Jones Index climbed 0.19% on Friday

The Dow Jones Industrial Average Index gained 0.19% to end the week at 13,275.20. Positive consumer confidence data and signs of recovery from the US property market boosted market sentiment. Optimism over the Eurozone's debt crisis after Angela Merkel's comments also added to gains of the US blue chips index. Four in nine sectors included in the index jumped. The

Mon, 20 Aug 2012 09:13:47 GMT

US equities rose on positive consumer confidence data

US stocks rose slightly on Friday on upbeat consumer confidence data. The Thomson Reuters/University of Michigan consumer sentiment index jumped to a three-month high of 73.6 in August. Strong earnings reports from the retail sector as well as signs of recovery of the US real estate market spurred rally of the US equities. The S&P 500 Index added 0.19% to

Mon, 20 Aug 2012 09:02:49 GMT

Corn retreated on potential demand slump

Farm commodities, excluding corn, rose on Friday amid adverse weather conditions in Russia and US. However, better weather in Brazil and India capped the upswing. Meanwhile, upbeat US consumer sentiment data improved demand prospects for rural commodities. Wheat jumped for the third session in a row on hopes that declining supplies from Russia will boost demand for US grains. Corn was slightly

Mon, 20 Aug 2012 08:48:44 GMT

Brent oil tumbled on potential release of the US reserves

Energy commodities apart from crude oil slid on Friday amid profit-taking after previous rally. However, inspiring US economic data limited the downswing of the commodity group. Moreover, persistent violence in Syria and escalating tensions between Iran and the West pushed energy prices higher. Crude oil was the only gainer on brighter demand prospects amid better-than-expected US economic data. Supply uncertainty from

Mon, 20 Aug 2012 08:37:46 GMT

Copper rose on potential decline in global output

Industrial metals advanced on positive data from the US and Europe. Moreover, hopes for easing in the Eurozone and China sent base metals higher. However, stronger US Dollar weighted down on the commodity group. Aluminum went up despite high output levels from China due to governmental programs that provide strong support for the aluminum industry. Copper rose amid expectations that copper

Mon, 20 Aug 2012 08:26:46 GMT

Silver declined on positive US data

Precious metals except for silver moved higher on Friday despite fading hopes for stimulus measures from the Fed after upbeat data releases. A Thomson Reuters/University of Michigan US consumer sentiment index attained three-month high in August. Gold started Friday's session on the positive note; however, the yellow metal erased gains after better-than-expected US economic data release. The precious metal finished

Mon, 20 Aug 2012 08:15:44 GMT

Oil advances on the U.S. economy and Saudi Arabian output

Oil rose for a fifth consecutive day as increasing Saudi Arabian crude production shows growing demand for fuel and amid signs of a strengthening U.S. economy. Futures climbed 0.4% following a three-month high close on August 17. Crude for September settlement rose 40 cents to $96.41 per barrel, while Brent for September delivery increased 56 cents to $114.27 per barrel. 

Mon, 20 Aug 2012 08:04:46 GMT

Asian stocks remain volatile

Asian stocks remained volatile on the U.S. consumer confidence and the slowing China's economy. Japan's Nikkei 225 Stock Average gained 0.6%, while Australia's S&P/ASX 200 Index increased 0.1%. South Korea's Kospi index lost 0.2%, Hong Kong's Hang Seng Index declined 0.7% and China's Shanghai Composite Index slid 0.9%. 

Mon, 20 Aug 2012 07:53:51 GMT

Aussie rises before European leaders meeting

The Aussie strengthened versus all of the major peers before Europe's policy makers meet this week in order to discuss ways to stem the Eurozone's debt crisis. The Australian Dollar climbed against the U.S. Dollar and Japanese Yen on speculation the ECB will cap bond yields in the Euro bloc. The Aussie gained 0.3% to $1.0447 following a 1.5% decline to

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