The 17-nation currency was traded close to its lowest level in three months against the U.S. Dollar on Tuesday amid a speculation that the Cyprus's lawmakers were unlikely to agree the new bailout plan designed by the Eurozone's finance ministers. The Euro declined 0.1% versus the greenback to $1.2948 after hitting its three-month low at $1.2882 on Monday.
The Japanese economy's leading index rose for the second consecutive month in January, however, at the slower pace than preliminary estimated, a data released by the Cabinet Office showed on Tuesday. The report said the leading economic index advanced from 92.8 points in December to 95 recorded in January compared to a level of 96.3 originally projected.
The New Zealand Dollar, also known as kiwi, dropped from 82.65 to 82.42 U.S. cents in the end of Wellington trading session on Tuesday after Finance Minister Bill English comments on a current exchange rate. The kiwi appreciated 12% over last two years and was mainly driven by quantitative easing programs, but English stressed that there is little what government can do
European Union's new car registrations continued to slow down in the month of February with the total car registrations dropping 10.5% on an annual basis to 795,482 units following an 8.7% decrease in January, the European Automobile Manufacturers' Association reported on Tuesday. In a January-February period, new registrations declined 9.5% from the same period last year.
The Reserve Bank of India cut its interest rates matching economists' expectations by 25 basis points for the second time in 2013 on Tuesday, when the repo rate was cut by the central bank from 7.75% to 7.50% and the reverse repo rate from 6.75% to 6.50%. Meanwhile, the RBI maintained its cash reverse ration at 4.00%. The central bank's
Foreign direct investments of China increased for the first time in a nine-month period in February suggesting that the world's second largest economy will keep rebounding, the Ministry of Commerce reported on Tuesday. Inbound investment rose by 6.3% on an annual basis to $8.21 billion, while in a January-February period non-financial outbound investment climbed 147% to $18.4 billion and inbound
Asian and Pacific shares held steady on Tuesday as investors were waiting for a result of parliament voting in Cyprus on the country's bailout plan to avoid bankruptcy and as India's potential political instability brought worries on the markets. Indian shares in Bombay Sensitive 30 index contracted 1.3% pushing down the broadest MSCI's index of Asia-Pacific shares outside Japan erasing
European shares declined before the Eurozone finance ministers' decision to raise 5.8 billion Euros by putting tax on Cyprus bank deposits in order to win a bailout of the country. Futures of the European benchmark stock index Euro Stoxx 50 Index decreased 0.2% to 2,636 earlier on Tuesday London session, while the Stoxx Europe 600 Index dropped 0.2% yesterday.
West Texas Intermediate oil was traded close to its highest level in a one-month period as a tension over the Eurozone finance ministers' decision to tax bank savings in Cyprus eased and before a report that might show an increase of U.S. crude supplies. April WTI futures with expiration tomorrow were at $93.75 a barrel in NYMEX, while WTI for
U.S. Treasuries stayed below a level of 2 percentage points for a third straight session on Tuesday before the Federal Reserve two-day meeting starting today will answer the question whether it will keep its stimulus program in order to boost the economy or not. The 10-year yields fell 0.01% to 1.95% earlier on Tuesday following a 7 ½ basis point
Farm commodities apart from corn retreated on Monday on weak demand for risky assets after Cyrus decided to tax bank deposits. Moreover, expectations of an increase in output in Russia and Canada pressured the commodity group. Wheat tumbled the most in more than a week as farmers in Russia and Canada may boost output. Russia is likely to harvest as much
Energy futures were mixed on Monday amid concerns over stability in the Eurozone as Cyprus is set to impose taxes on deposits. At the same time, speculation that Saudi Arabia will not increase output in the nearest term supported the commodity sector. Crude oil moved higher after Saudi Arabian oil minister Ali al-Naimi said that current oil prices should not
Industrial metals slumped on Monday as market players shunned risky assets after Cyprus said it plans to levy taxes on bank deposits to meet bailout requirements. The move raised worries over financial stability of the single currency union thus weighing on industrial demand prospects of the commodity complex. Aluminum dived amid elevated inventories in China. Stocks at Shanghai Futures Exchange climbed
Precious metals were mixed on Monday amid broadly weaker US Dollar and safe-haven demand after Cyprus said it would levy bank deposit taxes. Meanwhile, market players remained cautious ahead of a two-day Fed policy meeting scheduled to start on Wednesday. Gold hit almost a two-week high amid concerns that bailout conditions for Cyprus will impact smaller depositors and push the Eurozone
Most U.S. blue chips declined on Monday, as a gauge tracking U.S. corporate credit risk climbed the most in almost a month as decision to impose tax levy on Cypriot bank deposits might spark the Euro-area's debt crisis. The Dow Jones Index slipped 0.6% to 14,456.06 after trading at its record high the last week. All but one sector posted
The Japanese Yen dropped by 0.4% to 95.60 per the U.S. Dollar and slipped by 0.4% to 123.85 per Euro by the midday Tokyo trading session on Tuesday. The Japanese currency fell, as Asian equity markets erased yesterday's losses reducing demand for haven assets. Also, a change in leadership of the Bank of Japan tomorrow affects the price amid expectations of policy
U.S. equities declined on Monday on a tax levy imposed by the Eurozone's policy makers on customer deposits held in Cypriot banks. The decision raised concerns over the area's debt crisis sharpening once again. The S&P 500 retreated 0.6% to 1,552.10. All but one sectors in the index inched lower. Helmerich & Payne Inc. posted biggest decrease in the gauge,
U.K. shares decreased on fears that Cyprus financial problems can reignite the Eurozone's debt crisis. The FTSE 100 lost 0.46%, or 33.51 points, to 6,459.67. Seven out of ten sectors included in the index posted losses. Meanwhile, telecommunications sector gained 0.98%, while consumer services group was 0.1% up. Marks & Spencer Group Plc surged 7.4% to 400 pence, as Qatar
European equities slumped on Monday amid decision made by European policy makers on the bailout plan for Cyprus. Investors raised concerns over the Eurozone's economy after announcement on the tax levy for bank customers in return for a EUR10 billion bailout. The DAX Index declined 0.7% to 7,984.53 at 5:09 p.m. in Frankfurt. All but two groups inched lower. Consumer
Raw sugar, cocoa and Arabica coffee declined on Monday, with sugar declining to its lowest level in almost a 7-day period after speculators reduced their bets on smaller prices by 62%, the U.S. Commodity Futures Trading Commission reported Monday. May raw sugar futures slid 1.7% to 18.56 cents a pound, cocoa for delivery in the same month dropped 0.8% to
U.S. Treasuries increased on Monday pushing 10-year note yields below 2 percentage points after the euro-area finance ministers made an agreement on financing a 10 billion bailout program for Cyprus by taxing bank savings in the country. The U.S. 10-year note yields dropped 0.04% to 1.95% earlier on Monday session in New York, whereas Treasuries have fallen 0.9% so far
International lending by banks grew at the slowest rate in a thirteen-month period in the Q3 as an increase of loans to non-bank lending was offset by drops in claims on banks, the Bank for International Settlement reported on Monday. The report showed the international lending by banks added 0.1%, when lending to non-banks grew 1.4%, while lending to banks
Unemployment in Hong Kong stayed flat matching a forecast in the three months ended in February, the Census and Statistics Department reported on Monday. The report showed that the unemployment rate stayed unchanged at seasonally adjusted 3.4% in the December-February period from the previous three months, with the total number of unemployed people at 123,100.
The Norges bank is likely to keep its interest rates unchanged and continue with its monetary policy at least until late-2014, as the strong Norwegian currency is preventing the government from increasing rates to weaken a housing boom, James Howat from the Capital Economics said on Monday. The Norwegian central bank maintained its benchmark rate stable as expected at 1.5%.