The South Korean Won was lower by 1% this week and was traded at 1,127.82 per U.S. Dollar in the morning of Seoul trading session on Friday. The currency is ahead to the third negative weekly performance and the longest losing strike since period ending 22nd of March. Investors are concerned about the Fed exit from monetary easing programme, which would damage
The Shanghai Composite Index advanced 0.5% so far today, recovering from the biggest drop in a month yesterday. The gain was lead by a surge in technology and health-care stocks while property developers' shares prices decreased further. The fall in stock prices yesterday was caused by contracting Chinese manufacturing and bad sentiment, which came after yesterday's dip in Japanese stocks.
The Peso lost 1.1% this week to 41.635 per U.S. Dollar by midday trading session in Manila on Friday. The Peso made the biggest weekly drop in nine months, as some investors cashed out some profit pushing stocks lower. Generally, traders are concerned about the Federal Reserve monetary easing programme, as a suspension of it would possibly lead to capital outflows from emerging markets, including Philippine.
Asian stocks swung between gains and losses on Friday as Australian banks decreased and as the Japanese currency increased after the Bank of Japan Governor Haruhiko Kuroda said the central bank had announced sufficient stimulus. The MSCI Asia Pacific Index fell by 0.3% to 138.31 by 3:10 p.m. Tokyo time and it is set to complete a fall of 2.9%
Emerging-market shares advanced on Friday pushing the regional benchmark index up from the steepest decline in a 10-month period as consumer-discretionary and technology-sector companies gained. The MSCI Emerging Market Index added 0.2% to 1,027.96 at 1:50 p.m. Hong Kong time after the index fell by 2.1% yesterday as China's manufacturing contracted.
Soybeans continued its rally on Friday heading for a fourth weekly gain, the longest run since February, as China's demand accelerated and inventories in U.S. declined. July Soybeans futures decreased by 0.3% to $15.0325 a bushel on the Chicago Board of Trade as of 2:22 p.m. Singapore time and are set to rise by 3.8% this week.
German consumer sentiment will increase to its highest value since September 2007, according to GfK AG, a market research company. It said that the measure will jump to 6.5 in June, compared to 6.2 in May, while experts predicted no change. The surge in the gauge is caused by increased consumer spending, higher employment and rising wages in the country.
The Japanese Yen was higher by 0.8% to 101.23 per U.S. Dollar in the second part of Tokyo trading session on Friday. The Yen strengthened against the major counterparts as stocks reversed earlier gains and the Bank of Japan Governor said that the central bank made a sufficient monetary easing programme. The pair might be affected by U.S. durable goods
The Canadian Dollar, also known as the loonie, was higher by 0.6% to 1.0305 per U.S. Dollar in the evening of Toronto trading session on Thursday. The loonie strengthened from a one-year bottom amid speculation that the Federal Reserve will curb its monetary stimulus, as the biggest world's economy signals about an improving situation.
The Australian Dollar slipped by 0.6% to 96.92 per U.S. Dollar in the morning of Sydney trading session on Friday. The currency touched a 95.94 level yesterday, which was the weakest since 1st of June. Even analysts say that U.S. durable goods data will be better in April adding positive sentiments about a recovery in the biggest world's economy, but investors
Jereon Dijsselbloem said that the time period for Greece to meet its fiscal targets might be extended if necessary. He added that the process of fiscal consolidation in Greece is satisfactory, however, the exact characteristics of debt relief will be decided after the official assessment of the country's economy. Estimated public debt in Greece is 173% of GDP this year,
The Minister for Economic Revitalization of Japan said that the plunge in Japanese share prices should not be a concern as the economy is consistently recovering. The comment came today after Nikkei 225 and Topix indexes fell 7.3% and 6.9% respectively. Japan's officials said that a contraction in China's manufacturing measure could be responsible for a sell-off of equities.
Global stock market indexes fell sharply today as Ben Bernanke signaled that the Fed might scale back its monetary easing and as China's economy unexpectedly slowed. Japan's Nikkei index dipped 7.3%, Europe's FTSEurofirst 300 decreased 1.9%, while France's CAC-40 and Germany's DAX dropped approximately 2.5%.
French private sector continued to decline in May suggesting that the nation's private sector economy is still struggling, a report published by the Markit Economics showed on Thursday. The composite output index maintained at 44.3 in May, while the service sector Purchasing Managers' Index recorded 44.3, unchanged from the month before, and the manufacturing PMI advanced from 44.4 to 45.5
German private sector activity rebounded from the lowest level in 5 months in May, but still stayed below neutral level, when the composite output index grew from 49.2 recorded in April to 49.9 in May, the Markit Economics reported on Thursday. The report also showed that activity index of service sector climbed from 49.6 in April to 49.8 in May.
Retail sales in Italy decreased more than expected in March from the previous month largely due to a notable 0.8% drop in non-food sales, a data revealed by the statistical office Istat showed on Thursday. Retail sales slipped 0.3% on a monthly basis despite a 0.4% increase in food sales, while on an annual basis retail sales fell by 3%
Private sector activity in the 17-nation bloc continued to fall in May, but the pace of contraction was lower than in the month before, the Markit Economics showed in a survey on Thursday. The survey showed that the composite output index measuring performance of service and manufacturing sector grew from 46.9 to 47.7 in May, while it was expected to
European leaders affirmed a $7.7 billion, 7 year plan to lower youth unemployment, which is at 24% in the euro zone. The 17-country bloc saw its GDP contracting for a sixth consecutive quarter, which lead European Commission to revise its 2013 forecast from -0.3% to -0.4%. However, Germany's budget expert told that easing pace of austerity is a dangerous path
Economic performance of United Kingdom improved in the first three months of 2013 matching preliminary estimated figures, a report released by the Office for National Statistics unveiled on Thursday. According to the report, gross domestic product rose 0.3% on a sequential basis in the Q1 following a contraction of 0.3% recorded in the quarter before.
Canadian currency declined on Thursday and was trade near its lowest level in a year versus the U.S. Dollar after the Federal Reserve Chairman Ben Bernanke signaled less stimulus measures if the economy keeps showing favourable results. The so-called Loonie slipped 1% to C$1.0367 per U.S. Dollar by 5 p.m. Toronto time and it touched C$1.0388, the least since June
The Hungarian currency advanced to the highest level in three months on Thursday spurring Goldman Sachs Group Inc. to change its trade recommendation of selling the Forint against the Euro as the economy emerged from contraction. The Forint increased by 0.6% and it was traded 0.1% higher at 289.21 per Euro as of 5:04 p.m. Budapest time.
Copper decreased alongside with other industrial metals on Thursday after a report showed that manufacturing sector in the world's largest metal consumer, China, contracted for the first time in seven months in May. Copper for August delivery slipped 2.7% to $7,276.25 a metric ton on the London Metal Exchange and was traded at $7,310 as of 11:47 a.m. Seoul time.
Gold declined for the third straight session on Thursday together with other commodities after Ben Bernanke, the Federal Reserve Chairman, signaled that the central bank may taper its bond purchasing program as the economy improves. Spot gold fell 1% to $1,357 an ounce and it was traded at $1,366.18 by 11:07 a.m. Singapore time.
Soybeans increased to the highest level in six month on Thursday and are set to extend its rally to the longest one in a year amid signs that Chinese demand will increase despite falling U.S. supplies. Soybeans for July settlement advanced 0.6% to $15.025 a bushel on the CBOT, the highest level for a most-active contract since November 8.