The greenback advanced versus most of its major peers before the Fed's Bernanke testimony today. The U.S. Dollar gained 0.3% to 99.37 Yen at 7:06 a.m. London time after falling 0.8% on Tuesday, while it climbed 0.2% to $1.3136 per Euro. Eurozone's currency added 0.1% to 130.52 Yen and the Sterling slipped 0.1% to 86.94 pence per Euro after reaching
Poland has the weakest economics growth since the 90s. Policymakers revealed plans to loosen the deficit by $4.95 billion (16 billion Zloty) to stop the stagnation. The Zloty rose 1% to 4.2467 versus the Euro as of 4:54 p.m. in Warsaw, reaching a four-week high. The returns on 10-year bond increased one basis point to 3.93%.
The Aussie gained after the Reserve Bank of Australia released the minutes of its recent monetary policy meeting. The RBA decided to maintain the lending rate of 2.75% as it is now. The currency gained 1.35% to $0.9220 at 11:17 a.m. EDT. Versus the 17-nation currency, the Aussie climbed 0.8% to 1.4239 after the ZEW survey. Versus the Yen. it
The main U.S. stock averages remained flat as investors struggle to interpret recent economic reports. Data shows increasing price growth, significant gain in manufacturing output in last few months, while retails sales were weaker than projected. The S&P 500 gauge slid 0.06% to 1,681.43, the Dow Jones gauge dropped 0.02% to 15,480.44 and the Nasdaq stayed at 3,606.42.
Industrial output in the U.S. climbed the most since February. Output gained 0.3% in June, which matches the economist forecast, after a 0.2% increase in May. Manufacturing growth is quite low as slow-growing foreign markets hinder export activity, but it is expected to pick up in the second half of 2013. Manufacturing accounts for 12% of the U.S. economy.
West Texas Intermediate advanced to a three-day high amid speculation U.S crude stockpiles decreased for a a third week, indicating growing demand in the U.S., the world's largest consumer of oil. WTI for August settlement gained 86 cents to $106.91 a barrel as of 8:47 a.m. on New York Mercantile Exchange. Inventories most likely fell to a five-month low. Official
U.K. gilts climbed and returns on two-yield securities dropped to almost two-month low on speculation low inflation rate will encourage the Bank of England to continue its monetary stimulus. The returns declined five basis points to 0.32% at 12:19 p.m. in London. The bonds also increased before the BOE reveals the minutes of its recent monetary policy meeting.
U.S. consumer price index rose 0.5% in June after an increase of 0.1% the month before. Markets expected a 0.3% advance. On 12-month basis ending in June, the CPI reached 1.8% in June, matching expectations. Core consumer price index, which excludes food and energy goods and services, rose 1.6% from June 2012.
European auto sales fell to the lowest level in two decades, German investor sentiment surprisingly decreased and Eurozone's exports dropped for a second straight month, rising worries that the region's economy is struggling. Car registrations fell 6.3% to 1.18 million autos in June compared to previous year, while the ZEW index missed the expectations by dropping to 36.3 this month.
Shares in Switzerland dropped from the highest point in more than a month and a half as Germany's confidence report and U.S. industrial output was awaited. The SMI slipped 0.4% to 7,964.11 as of 9:58 a.m. Zurich time; however, the gauge rose 2.6% previous week after Bernanke stated that U.S. economy still needs monetary stimulus. The Swiss Performance Index decreased
The yearly measure of the Consumer Price Index increased from 1.4% in May to 1.6% in June, adding to signs the index was at 2.4% last year. The measure gained in line with markets expectations and the core CPI rallied 1.2% on yearly basis in July, also matching forecast. The lowest year-on-year index was recorded in Greece, declining 0.3%, Latvia
U.K. shares were little changed almost reaching the highest level in six weeks ahead of U.S. economic report that may indicate that industrial production increased previous month. The benchmark FTSE 100 Index climbed 0.1% to 6,587.86 as of 9:52 a.m. London time after earlier sliding and gaining 0.3%. The FTSE All-Share Index fell less than 0.1% today, while Ireland's ISEQ
German widely expected ZEW economic sentiment index decreased unexpectedly in July, stirring further worries surrounding the recession-hit Euro block region. The ZEW indicator retreated by 2.2 points and reached 36.3, after adding 2.1 points to 38.5 in June, damping analyst forecast of rally to 40.0 in July.
The yearly rate of Consumer Price Index rose from 2.7% in May to 2.9% in June, less than expected, mainly on the higher prices of clothing, motor fuels and footwear. On a monthly basis, the CPI rate declined 0.2%, while the annual core CPI measure rose 2.3%, overshooting expectations. The Bank of England awaits the inflation rate to continue adding
Japanese stocks gained, with the Topix index reaching the highest level in two months at the close, on Japan's earnings optimism. The Topix added 0.7% to 1,210.54 at the end of the trading session and it was the equity-benchmark's highest closing level since May 22. The Nikkei 225 Stock Average climbed for a third straight day, increasing 0.6% to 14,599.12.
Asian shares advanced, with the regional MSCI Asia Pacific Index on course to pare a two-day decline, as Japan's Topix index is set for its highest level at the close in almost two months. The MSCI Asia Pacific Index added 0.5% to 135.53 at 3:51 p.m. Tokyo time. At the same time, this equity-benchmark has climbed 4.3% this year to
The common currency advanced versus the U.S. Dollar, before ZEW survey release which is forecast to show rise in this month, therefore signaling growth in the activity of the biggest European economy. The Euro block's currency gained 0.17% to $1.3084 versus the greenback and inched up 0.09% versus the Pound, and climbed 0.12% to 130.54 against the Japanese Yen.
Canada's currency fell, paring previous week's advance that was the biggest in almost two years, as retail sales in U.S. missed the expectations in June. The Canadian Dollar slipped 0.3% to C$1.0427 per U.S. Dollar as of 5 p.m. Toronto time; moreover, it depreciated for second day in a row after it rose 1.8% past week.
Most European shares inched up as investors expected a report that may indicate German investor sentiment advanced to 40 in July. The Stoxx Europe 600 Index gained less than 0.1% to 297.56. Equities rose to an almost the highest level in six weeks yesterday after U.S. retail sales jumped and China's economic expansion matched expectations.
The British currency gained versus the greenback ahead of the consumer- and producer price report that is expected to show a rise at faster pace in June, according to economists. The Sterling added 0.2% to $1.5133 as of 7:30 a.m. London time after slipping to $1.4814 on last Monday, the weakest since June 2010. The Pound was at 86.46 pence
Treasury yields recovered from the lowest level in a week ahead of data that may indicate industrial output advanced, boosting speculation the U.S. economy has grew enough to start tapering stimulus. The benchmark 10-year note yield gained to 2.55% and the 1.75% bond expiring in May 2023 decreased to 93 2/32. The 30-year bond yield jumped to 3.60%.
The Japanese Yen extended two-day decline versus the greenback ahead of the central bank statements that may signal prolonged monetary stimulus programme in Japan, while U.S. might start tapering this year. The Japan's currency was at 99.76 per Dollar at 6:40 a.m. London time from 99.86 on Monday, while it traded at 130.54 per Euro from day earlier, when it
German 10-year government bunds remained steady ahead of data economists said will indicate investor sentiment in Europe's biggest economy advanced this month. German 10-year note yielded 1.58% and the price of the 1.5% security maturing in May 2023 remained flat at 99.32. The two-year note yield was at 0.11%.
West Texas Intermediate oil futures decreased as investors were awaiting U.S. crude supplies to be posted by the American Petroleum Institute today and more significantly, by the Energy Information Administration tomorrow. WTI crude oil futures retreated 0.20% to $106.11, while Brent futures contracted 0.29% to $108.78.