West Texas Intermediate oil fluctuated on Wednesday trading session amid signs that the U.S. deadlock might come to an end as policymakers took further steps in order to agree on the new debt ceiling. November WTI futures were little changed at $103.51 a barrel, up 2 cents on the NYMEX as of 12:24 p.m. in Singapore after the prices advanced
Bank of Japan Deputy Governor Hiroshi Nakaso claimed on Wednesday that there is no need to ease the central bank's monetary stimulus program as the economy is improving and the nation might be able to reach a 2% inflation target set by the central bank. The BoJ might pump more liquidity into the economy in April in order to achieve
The U.S. Dollar strengthened on Wednesday rising against the Japanese Yen as President Barack Obama picked Janet Yellen as a replacement of Ben Bernanke as the Federal Reserve Vice Chairwoman, however, the persisting deadlock kept the so-called Greenback close its 8-month low. The U.S. Dollar advanced 0.4% to 97.22 Yen after it recorded the lowest level in 2 months yesterday
Asian equities tumbled on Wednesday as the deadlock in talks between the U.S. President Barack Obama and congressional politics continued when they failed to agree in the new debt ceiling to avoid the country's technical default. MSCI' broadest Asia-Pacific index outside of Japan slipped 0.3%, while Japan's benchmark index Nikkei erased its previous losses.
Machine tool orders in the Asian second-largest economy fell on an annual basis in September mainly due to a steep drop in export demand, the Japan Machine Tool Builders' Association reported on Wednesday. The report showed that the total figure of machine tool orders slipped 6.3% in September as the export market orders declined 23.4% in same the month.
Factory orders in the Eurozone's largest economy surprisingly declined in the month of August mainly due to weaker demand from the 17-nation bloc, while exports advanced, the Federal Ministry of Economics and Technology showed on Tuesday. Factory orders fell 0.3% on a monthly basis in August, whereas exports increased 1% month-on-month in the same month.
Service sector in China slowed down in the month of September, although the gauge measuring the performance of the sector stayed above a level of 50 signalling expansion, a survey published by the HSBC and Markit Economics showed on Tuesday. The HSBC/Markit services business activity index decreased from 52.8 in August to 52.4 in September.
Spain's government bonds decreased on Tuesday as the benchmark 10-year yields slipped for the second straight day as the country is trying to prolong the maturity of its debt in an auction in the near future. The benchmark 10-year government bonds were traded eight basis points lower at 4.29% as of 4:48 p.m. in London following a drop to 4.10%
Swiss Federal Statistics Office has announced a 0.1% annual deflation in September, while in August prices remained flat. It is expected the deflation to reach 0.2% in 2013 before turning back into 0.3% inflation in 2014. Alongside, retail sales in Switzerland surged 2.4% in August after a 0.6% advance the month earlier. Moreover, the non-food sales jumped as much as
American lawmakers are still negotiating the conditions, on which the U.S. budget will become unlocked and debt ceiling of $16.7 trillion will be increased. Meanwhile, the Congress Republicans and President Barack Obama still have no common decision. On the other hand, the Senate Democrats are preparing to have a test vote on budget ceiling rise without any policy changes from
The Fifth Republic has narrowed its trade deficit by 200 million euros in August of this year, as it reached 4.9 billion euros. The contraction was mostly caused by a decline in energy imports. Moreover, the annual deficit slumped by 8 billion euros to 60 billion euros. In August both exports and imports posted a decrease, while decline in pharmaceutical
The International Monetary Fund has downgraded its vision on perspectives of the global economic growth, as they predict the world's GDP to add 2.9% in 2013 and accelerate to 3.6% during the next year. The previous outlook forecasted the global economy to grow 3.1% and 3.8% in 2013 and 2014, respectively. Alongside, the 2013 outlook for developing countries was cut
CtW Investment Group, which holds 6 million shares of Oracle Corp., said on Tuesday that stakeholders have to oppose the planned compensation packages for company's top managers, as Oracle, the database-software producer, missed profit estimates. Recently Oracle CEO has already cut its pay by 18%. Oracle Corp. share prices are losing 0.33% to $32.73 by 14:30 GMT in New York.
The U.K. government is planning to invest in solar energy production in order to decrease the influence of fossil fuels on the energy market. It is expected to raise solar power annual production from 2.4 gigawatts nowadays to 10 gigawatts during the next twelve years. Moreover, the energy minister Greg Barker announced that the U.K. can achieve 20 gigawatts of
U.S. government Treasuries declined on Tuesday, while the government Shutdown continues and debt limit will be hit on October 17. Tomorrow the American government plans to sell $30 billion of debt securities. Treasuries used to be safe assets to invest in times of political and financial uncertainty, but three-year bonds' yields are adding 0.02% to 0.66% this afternoon, while 10-year
U.S. shares were little changed, following yesterday's decline, when the Standard & Poor's 500 Index fell to the four-week low, as officials negotiated to end government's shutdown. The S&P 500 slid 0.1% to 1,675.07 as of 9:33 New York time and the equity-benchmark dropped 0.9% on Monday reaching the lowest point in a month.
The difference between the Canadian imports and exports suddenly expanded in August, as import level reached a new maximum, offsetting the notable increase in the exports to the U.S.A. Imports grew 2.1% to C$41.1 billion, including the gains in the energy products, vehicles and aircraft, while the exports added less, 1.8%, to C$39.8 billion due to the widening trade balance surplus with the
European shares declined for a second consecutive day as investors awaited for the U.S. officials to end nation's government shutdown. The Stoxx Europe 600 Index slid 0.4% to 308 as of 11:58 a.m. London time and the gauge retreated 0.2% on Monday, while S&P 500 Index futures gained 0.1% today.
U.K. shares dropped for a second straight day as investors awaited for the start of the U.S. earning season. The FTSE 100 Index fell 0.4% to 6,414.69 as of 9:38 a.m. London time and it has slipped 3.2% from a September 19. The FTSE All-Share Index decreased 0.3%, while Ireland's ISEQ Index added 0.1% today.
Shares in Switzerland declined and are set for their lowest level in four weeks, as the beginning of the U.S. earning season and the end of the government shutdown was awaited by investors. The Swiss Market Index slipped 0.3% to 7,864.25 as of 11:05 a.m. Zurich time and it has fallen 2% monthly, while the Swiss Performance Index slid 0.3%
Government bond in the Europe's largest economy slipped on Tuesday after a report revealed that the country's exports advanced in the month of August suggesting that the German economy is improving. The benchmark 10-year government bunds gained two basis points to 1.82% as of 7:40 a.m. in London following a climb to 1.85% on October 3.
The Australian Dollar fluctuated on Tuesday holding its largest one-day advance against the Japanese Yen in a week amid persisting deadlock in the U.S. debt ceiling talks as President Barack Obama and Republicans failed to find an agreement. Aussie was at 91.26 Yen at 11:08 a.m. Sydney time after it was fell to 91.18 yesterday, while it added 0.1% to
South Korean currency decreased on Tuesday falling for the second straight session amid speculations that the fall was caused by the previous increase to the highest level in an eight-month period. Won declined 0.2% to 1,073.75 per U.S. Dollar Seoul time following a gain to the strongest level since January 24 at 1,067.07 as the nation's shares advanced.
Copper fluctuated on Tuesday amid unfavourable situation in the U.S., where President Barack Obama and congressional lawmakers failed to agree on the new debt ceiling avoiding the nation's default and as China's demand rose after the nation's holiday. Copper for December delivery was traded at $7,250 a metric ton as of 11:48 a.m. Tokyo time on the London Metal Exchange.