Unemployment in Germany increased more than preliminary estimated in March as a result of less job positions opened by companies, whereas nation's retail sales went up in February rising for the second month in a row. The total number of unemployed people grew by 13,000 in March from a level of 2.94 million in February, while retail sales rose by
Wheat was little changed on Thursday traded near its strongest level in five weeks as freezing weather is threatening the winter crop of the world's biggest exporter, U.S., at the same time corn and soybean futures dropped 0.1% and 0.2%, respectively. May wheat futures were traded at $7.375 a bushel on CBOT following an increase to the highest level since February
Copper rose on Thursday, however, it completed its second straight quarterly decrease after strikes at Antofagasta and ports in northern Chile increased concerns that supplies from the country's largest producing company may be disrupted. Copper for June delivery advanced by 0.7% to $7,656.25 a metric ton in London and were $7,618 at 10:24 a.m. in Shanghai.
The Eurozone's currency increased against its major counterpart U.S. Dollar on Thursday and erased the previous drop against the Japanese Yen after a report showed that retail sales in Germany gained more than preliminary estimated in February. The 17-nation currency rose 0.3% to $1.2813 on Thursday London session and it was traded at 120.71 yen following a 0.5% fall earlier
Deposits of the Chinese currency in Hong Kong advanced by 28 billion yuan to its new high at 652 billion yuan in February after the world's second-largest economic performance outlook improved suggesting that Yuan would appreciate. The Yuan recorded its highest level in 19 years at 6.2095 per U.S. Dollar on March 25 and it was traded at 6.2143 on
The British Pound appreciated to its highest level in a two-month period against the 17-nation currency on Thursday as demand for the Sterling as a haven asset rose amid concerns about worsening debt crisis in Europe due to turmoil in Cyprus. The Pound advanced 0.1% to 84.41 pence per euro earlier on Thursday after it climbed to a two-month high at 84.16 pence, it
German shares moved higher after positive data releases from the domestic economy. German retail sales unexpectedly rose 0.4% last month, beating expectations of a 0.5% decline. Pushing equities lower, German jobless claims rose by a seasonally adjusted 13,000 this month, while analysts had forecast a fall of 4,000. The DAX Index climbed 0.59% and is currently trading at 7,835.30. Six
UK stocks are trading in green territory on Thursday after the UK Gfk consumer confidence unexpectedly remained unchanged in February, while experts had predicted a decline. However, weaker-than-expected data from the national housing market capped gains. The UK's Nationwide house price index remained unchanged, defying forecasts of a 0.2% increase. The FTSE 100 Index jumped 0.78% and is trading at
South Korean economic growth accelerated by a seasonally adjusted 0.3% in the last three months of 2012 from the previous quarter compared to an original estimate of a 0.4% increase, according to a report released by the Bank of Korea on Tuesday. The report showed that the nation's GDP grew 1.5% on an annual basis in the Q4, while for
Spain's economic growth is likely to slow down further pushing the nation's economy deeper into depression in 2013 and unemployment is set to record a historical low as austerity measures moderate the pace of recovery, the Spanish national bank reported on Tuesday. Spanish GDP is forecast to shrink 1.5% this year after it fell 1.4% in 2012, while jobless rate
The Peruvian currency depreciated on Wednesday extending its losing streak to the biggest drop in one quarter since 2008 after the nation's central bank raised requirements of bank reserves in order to prevent the local currency from the U.S. Dollar inflows. The Peru's Sol dropped by 0.1% to 2.59 per U.S. Dollar on Wednesday and it lost 1.4% in the
Taiwan's leading economic activity index increased by 1.1% on a sequential basis in February rising to 137.6 points suggesting together with other business indicators that the local economy is stabilizing, the Council for Economic Planning and Development reported on Wednesday. The report also said that coincidence indicator of current economic activity gained 0.3% in February from the month before.
Mexican currency depreciated versus U.S. Dollar on Wednesday after concerns about political situation in Italy, where last month's elections still did not bring a new government, having an unfavourable influence on the global economy. The Mexican Peso dropped 0.4% to 12.4025 per U.S. Dollar erasing its previous gains, however the currency has added 3.1% this month versus the so-called greenback.
Retail sales in Lithuania rose at the slower rate in February than the month before mainly because of a 7.9% jump of clothing and footwear, a report released by the Department of Statistics showed on Wednesday. Turnover of retail sales advanced by 1.5% on an annual basis in February after it added 2.4% the prior month, however sales of food,
U.S. pending home sales recorded a modest fall in the month of February, a report unveiled by the National Association of Realtors showed on Wednesday, however pending sales stayed close to the highest figures in a three-year period on the month. NAR's report said that pending home sales index slowed down by 0.4% to 104.8 in February following a 3.8%
Hong Kong shares were bearish on Thursday, tracking weakness in the US and Japan's equities. Banks also put a lid on China's stocks after the China Banking Regulatory Commission ordered to tighten control over wealth management products. However, the downward trend was restricted by positive industrial numbers. The National Bureau of Statistics reported profits of the largest industrial firms soared
Japanese equities plummeted on Thursday on negative data from the national economy. Japan's retail sales dropped by annualized 2.3% last month, defying expectations of a 0.9% increase. Japanese stock average also came under pressure amid weakness in financial stocks as investors were cautious ahead of planned reopening of banks in Cyprus. The Nikkei 225 Index tumbled 1.26% to finish the
US blue chips retreated on Wednesday as investors avoided stocks and other risky assets amid escalated worries over political turmoil in Italy. Disappointing numbers from the US real estate market pushed stocks deeper in red. US pending home sales dipped 0.4% in February versus a forecast of a 0.2% drop. Meanwhile, market players were cautious ahead of the final US
US stocks finished mostly lower on Wednesday amid political uncertainty in Italy. Weak data from Europe as well as a decline in the US pending home sales last month also put pressure on equities. The S&P 500 Index lost 0.06% to end the session at 1,555.95. Only four in ten sectors within the index were bullish. The top performers were
The Reserve Bank of Australia revealed on Thursday that Australian private sector credit gained 0.2% in February, which was the same as in the previous month but lower than analyst expectations of 0.3%. Year-over-year, private sector credit inched up by 3.4%, disappointing expectations of a 3.5% increase.
The Melbourne Institute reported on Thursday that Australian inflation gained in March. Month-over-month, Australian prices inched up by 0.2%, which was the same increase as in the preceding month. Year-over-year, inflation hit a level of 2.1%, which was the lowest for eight months.
Farm commodities apart from coffee jumped on Wednesday in a cautious trading ahead of the USDA report due to on Thursday. Unfavorable weather in the US as well as logistical problems in Brazil sent farm commodities higher. Wheat climbed as freezing temperatures in the US key growing regions are slowing early planting. However, gains were limited by speculation that market players
Energy futures were bullish on Wednesday despite larger-than-expected increase in the US crude oil inventories last week. Moreover, weak consumer confidence in the Eurozone coupled with Italian political woes added pressure on the commodity sector. Crude and Brent oil gained despite bearish EIA weekly supply report. Crude oil inventories in the US rose 3.3 million barrels last week compared to
Base metals apart from copper were bullish on Wednesday on weaker US Dollar and soft demand for growth sensitive assets amid political instability in Italy. At the same time, mixed data from the US as well as high inventories at the LME and SHFE created pressure on industrial metals. Aluminum traded higher as cancelled warrants at the LME increased, signaling an