Service sector in the Europe's largest economy accelerated in April rising for the eleventh successive month, however the pace of growth was slightly lower than initially projected, a data revealed by the Markit Economics showed on Tuesday. According to the report, the German purchasing managers' index for services jumped from March's 53 points to 54.7 in the following month.
Retail sales in the 18-nation bloc advanced in the month of March as food product sales increased notably supported by strong consumer confidence figures from the first quarter of 2014, a report published by the statistical office Eurostat showed on Tuesday. The Eurozone's retail sales added 0.3% in March following February's growth of 0.1%.
Private sector in the United Arabic Emirates increased in April rising at the fastest pace all-time as new orders and output advanced notable on the month, the latest date released by the HSBC Bank and Markit Economics showed on Tuesday. The nation's non-oil private sector gained from 57.7 points in March to 58.3 in the following month.
The European Central Bank is unlikely to release its decision whether to cut the benchmark interest rates to its record low sooner than Thursday as the bank's policy meeting began today, the President of the ECB said on Tuesday. According to Draghi, the ECB may wait for the latest forecast suggesting whether the inflation level is too low as last
The U.S. Dollar declined on Tuesday trading session falling against the 18-nation bloc currency towards the weakest level in seven weeks after last week's job data in the U.S. were overshadowed by favourable reports from Europe. The so-called Greenback slipped 0.4% to $1.39315 with the U.S. Dollar index slipping to its 6-month low, and it dropped 0.2% to 101.95 yen.
Wall Street futures swung between gains and losses earlier on Tuesday trading session as investors stayed cautious as the benchmark stocks indexes traded near their record highs recorded recently. The Standard & Poor's 500 Index futures added 0.5%, the Dow Jones industrial average futures rose 2 points and the Nasdaq Composite index futures climbed 1 point.
The majority of European equities swung between gains and losses on mild trading on Tuesday before the European Central Bank released its decision whether it maintains the benchmark rates unchanged on Thursday. The London's FTSE 100, the Frankfurt's DAX and the Paris' CAC 40 gauge remained stable following previous gains yesterday, while Spain and Italian markets rose.
The 18-nation bloc currency strengthened on Tuesday trading session amid speculation that the European Central Bank may keep the benchmark interest rate unchanged despite low inflation in the region threatening economists. The Euro jumped against the U.S. Dollar to a level of $1.3926 leaving the $1.3864-$1.3887 range, while it climbed to 141.99 yen.
European equities declined slightly in the morning of Tuesday, as analysts evaluate earnings of the European banking sector. Today, earnings for the first quarter of this year were announced by UBS AG and Barclays Plc banks, with the latter dropping 4.3% amid decrease in profit. By 9:00 GMT in London, the benchmark Stoxx Europe 600 Index lost 0.1% to 336.84
OECD decreased its expectations concerning world economic development this year, pointing on more measures to fight high unemployment. Now, the organization predicts a 3.4% GDP growth in 2014, while the next year it will grow by 3.9%. U.S. economy, in turn, will advance 2.6% and 3.5% in 2014 and 2015, respectively. Eurozone is forecasted to see a 1.2% GDP advance
The Reserve Bank of Australia decided to keep the monetary course unchanged, while the benchmark interest rate remained at 2.5% level. As announced, the inflation pressure in the country decreases. At the same time, government spending cuts give the RBA more space to act in the future. Policy makers decreased the main interest rate by 2.25% since 2011 to avoid
Activity in the service sector of the United Kingdom rose significantly in April of this year, while economists predicted no changes. The benchmark PMI Index for the main sector of country's economy, which account for more than 70% of the GDP, increased to 58.7 points last month versus 57.6 in March. Therefore, economic advance in the country is expected to
U.S. Treasuries advanced on Monday pushing the benchmark 10-year yields towards the weakest level in a three-month period after a report showed that manufacturing sector in China fell more than economists originally expected last month. The U.S. 10-year yields dropped 0.01% to 2.57% as of 6:30 a.m. in New York.
West Texas Intermediate crude advanced on Monday adding to earlier gains after an industry report showed that stockpiles in the world's largest oil consumer, U.S., increased last week overshadowing continued geopolitical crisis in Ukraine. WTI for delivery in June rose 0.3% to $100.06 per barrel on the NYMEX following a jump by 68 cents earlier on the session.
The European benchmark Brent crude declined on Monday trading session after an industry report showed that the world's second largest economy manufacturing sector weakened in April and as inventories in the U.S. increased last week. Brent for settlement in June slipped as much as $0.40 to $108.28 per barrel on the London's ICE Futures Europe exchange by 1:44 p.m.
Russian shares mostly dropped on Monday trading session falling for the second straight day amid speculation that the European Union and the U.S. may add more sanctions on the Russian Federation as Ukraine's tension continues. The benchmark index MICEX fell as much as 1.0% to 1,291.54 at 2:50 p.m. Moscow time.
Manufacturing sector in South Africa contracted notably in April falling at the faster rate in almost 3 years mainly due to a significant drop in new sales orders, the latest data revealed by the Bureau of Economic Research showed on Monday. The country's factory sector purchasing managers' index slipped from March's level of 50.3 points to 47.4 recorded in the
Investor confidence in the 18-nation bloc surprisingly declined in May following a previous month's gain mainly due to a notable drop in economic expectations, the latest survey published by the Sentix thin tank unveiled on Monday. According to the survey, the Eurozone's investor sentiment fell from April's level of 14.1 points to 12.8 points in May.
Producer prices in the 18-nation bloc dropped further in March, however the pace of decline was lower than in the month before, adding to speculations that deflation in the Eurozone may be a thread in the following months, the Eurostat showed in a report on Monday. The Eurozone's producer prices fell 1.6% on an annual basis in March following a
Economic growth in Indonesia weakened in the first three months of this year, however the pace of growth eased less than initially projected, a report released by the Statistics Indonesia showed on Monday. According to the report, the country's gross domestic product advanced by 5.21% on an annual basis in the Q1, while in the Q4 of 2013 the growth
Inflation in the euro-area is unlikely to fall into negative figures, according to the European Commission report released on Monday, and the ongoing recovery in the Eurozone may be lasting longer than initially forecast. The report also said that the European Commission estimates a 1.7% GDP growth for the next year, while growth for 2014 remained at 1.2%.
The European currency held steady on Monday trading session staying above its recent intraday low recorded on Friday amid speculation that the European Central Bank may maintain its benchmark interest rates unchanged on the policy meeting this week as the inflation advanced last month. The Euro was last seen at $1.3873 following a fall to $1.3812 seen on Friday session.
The Japanese Yen increased on Monday trading session rising against the U.S. Dollar after a government report showed on that manufacturing sector in the world's second largest economy dropped for the 4th successive month. The Japanese Yen was traded 0.2% higher at 101.98 per U.S. Dollar following a gain to 101.86, the most since April 17.
Government bonds across the Eurozone dropped on Monday as the easing geopolitical tension in Ukraine pushed demand for safe-haven assets higher after a report showed a slow-down in China's factory sector last month. German benchmark 10-year yields slipped to 1.45%, while the Portugal's 10-year notes fell to 3.62%, the least since 2006.