West Texas Intermediate crude almost reached its highest level in almost a month ahead of weekly U.S. supply data on signs that the economy among developed countries is gaining momentum. WTI for March settlement gained 37 cents and was trading at $97.10 a barrel in New York at 1:09 p.m. in London. Brent for March delivery traded 22 cents lower
The British currency advanced to the highest level in approximately two and a half years versus the U.S. Dollar on speculation that Bank of England officials will increase interest rates sooner than expected. The Sterling gained 0.2% to $1.6601 at 12:21 p.m. in London, after reaching $1.6616. The Pound slid 0.5% to 82.12 pence per Euro after climbing to 81.68
Eurozone's currency rose the most in approximately three months versus the greenback as region's manufacturing expanded to the highest level in almost three years. The 18-nation currency added 0.6% to $1.3628 as of 11:50 a.m. in London, the biggest climb since October 22. The shared currency appreciated 0.3% to 132.03 Japanese Yen, while Japan's currency advanced 0.3% to 104.19 per
The European benchmark Brent crude decreased on Thursday session with the Brent-WTI premium shrinking from $11.54 to $11.32 today after a report showed that crude stockpiles in the U.S., the world's largest oil consumer, accelerated by 4.86 million barrels last week. Brent for March delivery slid 32 cents to $107.95 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate crude slightly declined on Thursday trading session snapping its gain towards the highest level in three weeks on concerns that fuel demand in China may decline after manufacturing sector activity contracted this month. WTI for delivery in March fell 10 cents to $96.63 per barrel on the NYMEX by 3:50 p.m. in Singapore.
The positive current account balance of the Eurozone unexpectedly surged in November of the previous year, while analysts predicted the positive balance to narrow. The surplus reached 23.5 billion euro versus positively revised 22.2 billion euro a month ago. Experts were waiting for a 19.2 billion euro surplus. The largest positive contribution to the advance was made by trade of
Current account balance in Italy came in surplus in November on an annual basis, the latest data published by the Bank of Italy showed on Thursday. According to the report, the country's current account surplus recorded 2.83 billion euros in November rising from a level of 1.46 billion in the previous year.
Business activity in France's private sector decreased at a slower rate in January than in the previous month, a report published by the Markit Economics showed on Thursday. According to the report, the country's composite output index measuring performance of the service and manufacturing sector advanced from December's 47.3 to a level of 48.5 in January.
An advanced in the consumer price index in Japan caused by the Bank of Japan's aggressive stimulus program may not be enough for the country's central bank to attain its 2% inflation target this year, according to Naoyuki Shinohara, the International Monetary Fund Managing Director. Shinohara also said it may take at least 2 years of steady progress in order
U.K.'s car production jumped last year rising to the strongest level in six years as domestic demand advanced together with improved export to non-European countries, the latest data unveiled by the Society of Motor Manufacturers revealed on Thursday. Car production gained 3.1% in 2013 totalling more than 1.5 million units, the most since 2007.
Manufacturing sector of France continues to register a decrease in overall activity, however, the decline slowed in January amid opinions that the economy is recovering faster than predicted. The benchmark PMI Index, which measures the activity in this sector, rose to 48.8 points in January versus 47 a month ago. Analysts forecasted narrower increase of the gauge to 47.5 points.
Manufacturing sector activity in New Zealand decreased in the month December, however the gauge measuring the activity stayed in a positive territory, the latest data revealed by the Bank of New Zealand and BusinessNZ showed on Thursday. The country's manufacturing activity index dropped from 57 recorded in November to a level of 56.4 in the following month.
Inflation expectations in Australia increased on an annual basis in January staying within the country's central bank target in range of 2% to 3%, the Melbourne Institute showed in a report on Thursday. According to the report, the Australian inflation is projected to accelerate by 2.3% in January after it was forecast to record 2.1% in the previous month.
A leading index of economic activity in the world's second largest economy declined notably in the month of December showing weakened economic conditions in 2014, a report published by the Conference Board showed on Wednesday. According to the report, China's leading economic index rose 0.4% to 278.8 in December, after recording a gain of 1.3% in the prior month.
Corporate loan demand in Asia's second largest economy advanced in the last quarter of 2013 rising for the second successive time, the latest report released by the Bank of Japan showed on Thursday. According to the report, the country's loan demand gained from 4 points to 8 in the Q4, while households demand increased slipped from 16 to 11.
European equities fluctuated on Thursday trading session with the benchmark index Stoxx Europe 600 trading close to the highest level in six years after a government report showed that manufacturing activity in China contracted in January. The Stoxx Europe 600 Index gained 0.1% to 336.52 as of 8:21 London time and it has advanced 2.5% this year.
Jobless rate in Spain increased modestly in the last quarter of last year, the latest data revealed by the statistical office INE showed on Thursday. According to the report, the country's unemployment rate jumped from a level of 25.98% recorded in the Q3 to 26.03 in the following quarter matching economist's expectations, while the total number of people without a
The Australian Dollar declined on Thursday trading session after a government report revealed that the manufacturing sector purchasing managers' index in China slowed down in January raising concerns over the country's economic growth. The so-called Aussie fell 0.6% to $0.8789 traded near the lowest level in more than three years at $0.8756.
The total value of new mortgages that have been taken by Australian homebuyers surged on a record pace in November of the last year, as they want to get benefits from very low interest rates. In November Australians borrowed $23.8 billion, a 25% annual jump. At the same time, some analysts expect the RBA's main rate to increase later this
Canada's Dollar declined on Thursday falling against its U.S. counterpart towards the weakest level since 2009 after the Bank of Canada claimed that the Loonie's depreciation may help increase exports from the country. The Canadian Dollar has decreased almost 5% versus the U.S. Dollar this year and was last seen at C$1.1139.
Wall Street closed mostly flat on Wednesday trading session with the benchmark index Standard & Poor's swinging between gains and losses after companies from Verizon to Johnson & Johnson reported disappointing earnings. The Dow Jones industrial average slipped 0.25% to 16,373.34, the S&P 500 Index added 0.06% to 1,844.86 and the Nasdaq Composite Index gained 0.41% to 4,243.
Asian equities declined on Thursday trading session after a government report showed that manufacturing activity in the country surprisingly dropped in January from the month before suggesting that the world's second largest economy may have lost its momentum. The MSCI Asia-Pacific gauge outside Japan lost 1.1%, while the Australian benchmark index fell 1%.
Economic growth in South Korea reached 0.9% in the last quarter of the previous year on the quarterly basis, fully matching economists' expectations. At the same time, the pace of increase slowed from 1.1% in Q3. On the annual basis, economy expanded 3.9%. The biggest contribution was made by exports' growth. In 2014, the Bank of Korea forecasts the GDP
Activity in the manufacturing sector of China unexpectedly dropped in January of this year, reaching the lowest level since July of 2013. The benchmark PMI Index from the HSBC bank fell to 49.6 points in January from 50.5 in December, while analysts expected it to increase. Moreover, the negative climate in the production sector can influence the whole economic growth