Harmonized inflation in the Eurozone's largest economy went up unexpectedly in the last month of 2012, the Federal Statistical Office reported on Wednesday. The report showed the harmonized index of consumer prices in Germany accelerated 2.1% annually in December following a 1.9% drop in the month before, while the consumer price index added also 2.1% in the last month after
Activity among factories in the Eurozone fell more than expected in the last month of 2012 as new orders declined, purchasing manager's surveys in the 17-nation bloc showed on Wednesday, pointing out a contrast to signs of recovery in China. Markit's Eurozone Manufacturing Purchasing Manager's Index dropped from 46.2 in November to December's 46.1. while in China the PMI stood at
Australian equities advanced to their highest level in 19 months on January 1, as U.S. lawmakers made a budget deal to avert spending cuts and tax hikes. Gains in Australian shares were mostly led by top miners, as U.S. budget deal erased concerns on possible recession in the nation's economy. The S&P/ASX 200 index rose 1.23%, or 56.99 points, to
The Aussie almost touched the bottom, falling versus majority of 16 major peers, as U.S. policymakers could not find agreement to avert "fiscal cliff", reducing demand for riskier assets. The Australian currency bought $1.0399, yet it is predicted that the Aussie might advance toward $1.07 by the middle of the year, before touching $1.01 by the end of 2012.
The Yen and greenback debased versus most peers after U.S. policymakers introduced legislation to prevent "fiscal cliff" of tax increases and automatic spending cuts, decreasing demand for refuge assets. The Yen fell to 87.27 per greenback, the weakest since July 2010, and it dropped to 115.82 per Euro, the lowest since July 2011, while the greenback stood at $1.3272 versus
Gold sored to the highest in two weeks, advancing with other commodities after the greenback debased, as U.S. policymakers launched legislation preventing increase of income-tax for majority of workers, easing anxiety that a recovery of the U.S. economy might be stopped. Spot gold climbed to $1,684.75 an ounce, the most since December 18, as well as silver, platinum and palladium
Oil climbed, setting for a three-month high, as the U.S. Congress passed a Senate-approved decision that would prevent tax increases and spending cuts that endangered further growth of the U.S.A. Crude for February settlement increased to $92.85 a barrel, up $1.03, while Brent oil for February delivery climbed 83 cents, or 0.8%, to $111.94 a barrel.
The Pound Sterling climbed to 16-month high versus the greenback after U.S. policymakers introduced legislation to prevent automatic spending cuts and tax increases, diminishing demand for the greenback. The Pound gained 0.4% to $1.6317, the most since August 2011, while dropped 0.2% to 81.34 pence versus the shared currency.
Malaysia's Ringgit gained the strongest point in 11 weeks as the U.S. House introduced a bill averting income-tax rise for at least 99% of U.S. households, increasing demand for riskier assets. The Ringgit rose 0.6% to 3.0372 per greenback in Kuala Lumpur, the highest since October. It is believed that the currency's strength was driven by buying of government bonds
Taiwan's Dollar soared to the highest in seven weeks as the U.S. Congress launched a budget bill which may prevent $600 billion in tax increases and spending cuts. The currency climbed 0.4% to NT$29.014 versus the greenback, after touching NT$29.005, the highest point since November. The Taiwan Dollar strengthened 4% in previous year as overseas investors increased their holdings of
British Manufacturing PMI climbed to its highest level since September 2011, adding to signs the economy has started growing at the end of 2012. The Markit Manufacturing PMI advanced more than expected in December to 51.4 from 49.2 the prior month. However, manufacturing composes only 10% of the UK's output. "UK manufacturing exited 2012 on a positive note, with
Indian shares jumped to their highest level in 20 months after the U.S. senate passed a budget bill trying to avert the so called "fiscal cliff" coming into effect on January 1. Experts said the agreement would give more confidence to investors of emerging-market stocks. The Indian Sensitive index advanced 0.8% to 19,580.81 The gauge has rallied 26% in 2012,
Hong Kong blue chips advanced sending up the Hang Seng index adding to its 23% gain in the last year, as U.S. lawmakers reached a budget deal and Chinese manufacturing sector improved for a third month. A report on January 1 showed China Purchasing manager's Index was 50.6 the prior month. The index jumped 2% to 23,103.97, first time in
Sweden's manufacturing sector contracted in December at a slower pace than expected, according to data published by the Swedbank on Monday. The seasonally adjusted PMI increased to 44.6 in December from 43.2 in November, with a reading below 50 indicating a contraction. The reading stayed below the 50 mark for the fifth straight month.
Harmonized inflation in Spain remained unchanged at 3% in December, according to flash data from the statistical office INE on Wednesday. The inflation rate also was in line with economists' expectations. Consumer price inflation was at 2.9% year-on-year. Final data is due to be published on January 15. Elsewhere, inflation in the Euro bloc cooled to 2.2% in November from
Oil advanced in New York as the U.S. lawmakers passed a budget bill that averts spending cuts and tax increases that threatened to drag the world's biggest economy into recession. Crude for February settlement climbed $1.02 to $92.84 a barrel and was at $92.84 at 3:04 p.m. in Singapore. Brent for February delivery gained 97 cents, or 0.9%, to $112.08
European stock futures and Asian shares advanced, prolonging last year's 13% global rally, metals pushed commodities higher, while the Japanese Yen and the U.S. Dollar fell as U.S. lawmakers approved a budget bill, which prevented spending cuts and tax hikes. Futures on the Euro Stoxx 50 Index climbed 2.5%, while the MSCI Asia Pacific Index outside Japan gained 2%, poising
Hong Kong's Hang Seng Index advanced as U.S. lawmakers approved the ‘fiscal cliff' bill seeking to avoid tax increases and as manufacturing sector in China expanded for a third consecutive month. The Hang Seng Index rose 2% to 23,103.97 at 1:11 p.m. in Hong Kong, exceeding 23,000 for the first time since June 2011.
Stocks in U.K. fell for the second time in a row on Monday as concerns about not reaching a deal in fiscal cliff talks between U.S. lawmakers and the White House overshadowed acceleration in Chinese manufacturing and improvement of British business sentiment index. The FTSE 100 Index dropped 0.5% to 5,897.81, while the broader FTSE All-Share Index also added 0.4%.
The U.S. currency appreciated against its major counterparts on Monday as the President Barack Obama and lawmakers launched another round of negotiations to avoid $600 billion tax hikes and spending cuts and as the Bank of Japan came closer to starting its stimulus program in January. The U.S. Dollar rose 0.2% to $1.3191 per Euro and it added 0.2 %
U.S. stock futures went up on Monday snapping a five-straight-day losing streak, as talks to avert the $600 billion tax increases and spending cuts between the White House and legislators continued in Washington. The benchmark S&P 500 index futures added 3 points on Monday after recording a fall of 1.9% last week, while Dow Jones Industrial average futures rose 25
German equities slumped as investors expected further developments in the budget talks. The U.S. President Barack Obama summoned the lawmakers to a White House meeting three days prior to a budget deal deadline to decide on a plan to avert the so called "fiscal cliff". The DAX index slid 0.7% to 7,604.53, showing a weekly drop of 0.4%. The gauge
U.K shares inched lower as Barack Obama and the U.S. lawmakers appointed a session on December 30 to discuss steps to halt the automatic tax increases and spending cuts in the year 2013. The FTSE index dropped 0.6%, or 37.94 points, to 5,916.36 by 1 p.m. London time. However, the gauge has advanced 6.2% this year, as the ECB launched
Hong Kong equities reached their highest level in eighteen months as investors switched to Chinese non-financial sectors right after Beijing raised optimism on quicker sector reforms. The Hang Seng index advanced 0.2% to 22,666.59. All but one group in the index edged higher with consumer goods advancing the most by 0.75%, followed by technology and utilities that gained 0.57% and