South Korea's Won traded near the lowest in six months after doubts that Europe's debt crisis would extend was countered by the Fed indicating signs of further bond- buying program, meanwhile, government bonds climbed. The Won was at 1,115.97 per greenback, after touching 1,119.95 yesterday, the weakest since September.
The shared currency dropped toward the lowest in four months versus the greenback as a report indicated manufacturing output and services in the region shrunk, signaling that the economy finds it difficult to recover from recession. The Euro slid 0.2% to $1.2905, while Japanese Yen advanced 0.6% to 95.46 per Dollar. The Eurozone economy has suffered decline for five quarters
Private sector output in France decreased at the steepest pace in four years in the month of March mainly due to a drop of business activity in service sector and as manufacturing production fell notably on the month, the Markit Economics reported on Thursday. The report showed that the Flash France Composite Output Index was 42.1 points in March after
Trade balance of Switzerland's economy declined by less than expected in the month of February despite a 2.5% drop in exports of Swiss watches mainly due to a weakened demand in Asia, the Federal Statistical Office reported on Thursday. The report said that the country's trade balance decreased to a seasonally adjusted 2.098 billion Francs from downwardly revised 2.126 billion Francs in
WTI plunged after its biggest two-week gain as German manufacturing shrunk unexpectedly and Cyprus's president developed a new plan of securing a financial bailout from the Eurozone. WTI for May settlement dropped 71 cents to $92.79 a barrel and the volume of contracts traded was 38% lower than the 100-day average. In addition, Brent for May delivery slid to $108.41
All industry activity in the Asia's second-largest economy decreased by 1.4% on a monthly basis in January after it moved up 1.6% the month before, the Ministry of Economy, Trade and Industry showed in a report on Thursday. The report said that tertiary industry activity dropped 1.1% in January offsetting a 1.1% gain in December, while construction industry activity rose
China's manufacturing sector improved above economists' expectations in the month of March with the manufacturing output index climbing from 50.8 points in February to 52.8 recorded in March, the Markit Economics revealed in its survey. The Markit/HSCC purchasing managers' index rose to 51.7 in March after it recorded 50.4 the month before, while it was forecast to jump to 50.8
Merchandise trade deficit in Japan declined to 777.5 billion Yen in February compared to a forecast of a shortfall to 855.9 billion Yen, staying in the red for the eighth time in a row, the Ministry of Finance reported on Thursday. The report said exports fell annually by 2.9% to 5.284 trillion Yen and imports moved up annually by 11.9%
British retail sales topped economist`s expectations by gaining 2.1% from January. According to forecasts, there was 0.4% rise expected. Year to year, sales increased 2.6%. The Pound strengthened 0.5% to $1.5178 versus the Dollar after data was released."There is still some hope that the economy has avoided a triple dip," said Vicky Redwood, an economist at Capital Economics Ltd. in
U.S. shares snapped losses earlier this week, as the Federal Reserve will continue asset purchasing to stimulate growth in the world's largest economy and Euro-area policy makers are working on a new finance plan for Cyprus. The Dow Jones Industrial Average added 0.4%, or 55.91 points, to 1,588.71. All but two groups in the index edged higher. Consumer services group
The New Zealand Dollar gained 0.4% to 82.62 per U.S. Dollar in the end of Sydney trading session on Thursday. The kiwi increased versus the major peers, as data indicated the fastest domestic economy growth rate last quarter in last three years. GDP expanded by 1.5% and exceeded analysts' estimation of a 0.9% expansion. Also, demand for the currency was
The South Korean Won was little changed at 1,116.30 per U.S. Dollar in the morning of Seoul trading session on Thursday. The currency was close to a 1,119.95 level, which is the weakest point since 27th of September. Markets wait for more detailed information on Cyprus issues and expect that the U.S. monetary policies will not be tightened yet.
The Japanese Yen appreciated by 0.3% to 95.77 per U.S. Dollar in the morning of trading session in London on Thursday. Markets were willing to buy the currency, as trade data indicated a lower than expected Japan's trade deficit, which contracted to 777.5 million Yen in February from 1.63 trillion yen in January. Also, investors wait for the first press
Farm commodities followed bullish trend on Wednesday as fears over Cyprus waned boosting demand for riskier assets. Moreover, signs of stronger demand for US grains as well as concerns over rain forecasts in Brazil pushed the commodity sector higher. Wheat rallied on talks that wheat's price discount to corn may result in an increase in demand from livestock producers. Iraq and
Energy futures except for natural gas moved higher on Wednesday after the EIA supply report indicated an unexpected drop in crude oil inventories last week. Furthermore, calming worries over Cyprus bailout as well as continuation of the growth-boosting measures by the Fed lifted the commodity sector. Crude and Brent oil advanced after the EIA report showed a drop in US inventories
Industrial metals were bullish on Wednesday ahead of China's HSBC flash manufacturing PMI release due on Thursday. Experts predict PMI to expand to 51.2 from 50.4 in the previous month. Moreover, decision of the Fed to leave its loose policy unchanged supported the commodity sector. Aluminum rose on expectations of production cuts and rising premium paid on the physical market amid
Precious metals were mixed on Wednesday after the Fed announced no changes to its loose monetary policy. Broadly weaker greenback also provided support to precious metals. Pushing the commodity sector lower, concerns over Cyprus started to alleviate thus dampening safe-haven appeal of the commodity group. Gold dropped as a recent increase in prices weighed on physical demand. The US Mint sold
U.S. equities rebounded from earlier losses this week, as the Federal Reserve extended its bond buying program to bolster economic growth and Eurozone's policy makers weighed options on a bailout plan of Cyprus. The S&P 500 Index rallied 0.7% to 1,558.71. First Solar jumped 5.9% for the biggest increase in the gauge to pace gains in tech shares that were
Palm oil increased to its highest level in a nine-day period on Wednesday amid speculations that inventories in Malaysia, the world's second-largest producer might be reduced by bigger exports amid a rebound in demand. June Palm futures increased by 1.1% to 2,441 ringgit a metric ton on the Malaysia Derivatives Exchange, its highest closing price since March 11.
South African currency decreased 0.6% against the U.S. Dollar amid a decision of the country's central bank to maintain its interest rates unchanged, while India's shares recorded the longest streak of losses since February 11. India's Standard and Poor's BSE Sensex edged down by 0.7 amid speculations that economic reforms might be menaced due to a withdrawal of the country's
Economic sentiment in Switzerland decreased for the first time a five-month period in March after it was improving since October 2012 and reached 10 points in February, the Credit Suisse and the Centre for European Economic Research (ZEW) reported on Wednesday. The ZEW index dropped to 2.3 points in March, while the index of current economic situation in Switzerland fell
South African Reserve Bank kept its benchmark interest rate unchanged as expected on Wednesday, as increasing inflation in the country prevented policy makers from easing monetary policy. The Monetary Policy Committee decided to maintain the repurchase rate at 5% as the inflation rate reached a 10-month high of 5.9% in February due to higher prices of food and clothing.
The Bovespa Index was lower by 1% to 56,389.48 points by midday trading session in Sao Paulo on Tuesday. The index was led by iron-ore producer Mineracao & Meralicoss SA, which posted a bigger loss than analysts estimated in a fourth quarter. Also, the index is dragged down by a weak situation in Brazilian market, as 32 of 46 companies missed earnings
The Brazilian Real appreciated by 0.1% to 1.9809 per U.S. Dollar and swap rates to January 2015 decreased by 0.02 percentage points in the morning of Sao Paulo trading session on Tuesday. Brazilian market moved along the data on inflation, which signalled about a slower-than-expected inflation rate. That boosted speculation that the central bank might resist to increase the key interest rate