The Australian confidence index was down by 1% in October, comparing with a previous month, according to a survey of the National Bank of Australia released today. Also survey showed, that domestic economy struggles, as a capital spending decreased to the lowest level since August 2009 and the business conditions gauge, such as sales, profit, hiring measures, slips to -5 from -3 in the last
On Tuesday, European stocks turned lower, as market sentiment was driven by refreshed concerns over Greek debt crisis after Eurozone finance ministers meeting. During European morning trading hours, the Euro Stoxx 50 fell by 0.69%, France's CAC 40 lost 0.88%, whereas Germany's DAX 30 declined by 0.72%.
The National Statistics Institute reported on Tuesday that inflation of Spanish consumer prices held still from a flash estimate in October. Month over month, Spain's HICP grew to 0.5%. Year over year, however, the harmonized index climbed to 3.5%, which was higher than a 3.4% growth in the preceding month, and the highest reading May 2011.
The Bank of France revealed on Tuesday that the country's current account shortfall declined in September. Deficit of the current account narrowed down to 3.3 billion Euros in September compared to a 3.6 billion Euros deficit in the preceding month. Shortfall of goods trade increased to 5.5 billion Euros, whereas services account showed a 2.2 billion Euros surplus.
The People's Bank of China reported on Tuesday that broad money supply of the country's currency advanced, but at a slower pace. Year over year, China's M2 grew by 14.1% last month, which was slower compared to a September's reading of 14.8%. Analysts, however, expected a 14.5% advance in October.
Statistics New Zealand revealed on Tuesday that the country's food prices fell by 0.6% in October compared to 0.9% decline in the preceding month. The bureau commented that the reading reflects a seasonal decrease of prices for vegetables, which was partly offset by an increase in grocery food prices.
On Tuesday, Japan released its final September figures of industrial production. Year over year, Japanese industrial production declined by 8.1%, while a previous month's reading was minus 4.6%. Month over month, industrial output of the country experienced a 4.1% decrease on a seasonally adjusted basis, which was unchanged from a revised reading for August.
Oil futures for December settlement slipped by 0.7%, or 58 cents, to $84.99 a barrel during Sydney trading session on Tuesday. The oil price decreases as investors see signs of increasing supplies in the U.S. and China, the biggest oil consumers markets. Also, traders have expectations that the U.S. stockpiles data will be in the highest level in the last quarter.
According to the largest gold producer, discovery rate of new resources decreases, while the exploration expenses reached the record level of $8 billion last year. Three new sources were discovered last year, as in 1991 the number was 11 and none of those are not "super big". Due to a decreasing production quantity and a boosting demand from investors and central banks, gold price
The Australian Dollar lost 0.2% to $1.0405 in the end of Pacific Ocean trading session on Tuesday. After yesterday's 0.4% gains, the Aussie slipped on new issues of Europe's debt crisis, as the European finance ministers did not verify Greece bailout financial plan of €32.6 billion. Analysts say that Europe is likely to turn into recession, what will drag the global economy down.
The Office for National Statistics reported on Tuesday that annual inflation in the United Kingdom gained more than expected in October. The British inflation reached a level of 2.7% compared to a reading of 2.2% in the preceding month. Economists, however, expected a 2.4% increases last month. The bureau commented that tuition fees were the most significant contributor to the
The Yuan was 0.05% higher to 6.2262 per Dollar in early Asia trading hours and that was a seventh consecutive trading session as China's currency gained. Also, today's peak is the strongest level since the government settled official currency exchange rates at 1993. China's Yuan firmly steps higher, as investors have expectations that the world's second largest economy will maintain its growth momentum.
The Euro, 17-nations' currency, slipped by 0.3% to $1.2675 during Asia trading hours on Tuesday and that was very close to September 7th low at $1.2673. Currency markets were concerned on Greece bailout, as the European Union finance ministers struggled to reach an agreement on Greek aid program. Luxemburg's Prime Minister announced that they will meet on November 20th to
The British pound fell against the vast majority of its counterparts prior to BOE's report on economic growth and inflation, as the report is expected to ensure more space for further asset purchases to prompt the growth. Sterling depreciated 0.2% against the Euro to 80.13 pence, and tumbled 0.1% to $1.5879 rebounding from its September's lowest level of $1.5866. The currency traded down the most
German stocks jumped on Monday after Greece managed to approve spending cuts and tax increases on Sunday. However, cautiousness persisted as euro-area finance ministers will have to agree on the new loans to Greece later in the day. The DAX Index gained 0.31% and is currently trading at 7,185.48. Seven in nine sectors within the index moved higher. Utilities and
Futures on U.S. stocks gained, rebounding the S&P's index from its lowest level in this year's June on a rally in takeover activity. Prior to that, the U.S. equities tumbled the most in five months after President's re-election. Contracts on The S&P 500 maturing December added 0.3% to 1,380.4. Meanwhile, futures on Dow Jones Industrial Average due the same month climbed 0.2%, or 26 basis
UK shares advanced on Monday amid optimism over Greece as the country passed budget cuts last week. However, an upward trend remained capped ahead of euro-area finance ministers' meeting later in the day. The finance ministers have to agree on EUR31.5 billion in loans to indebted Greece. Moreover, persistent worries over the US budget clashes weighted down on the UK
On Monday, the 17-nation currency was traded lower versus the greenback, on upcoming meeting of Eurozone finance ministers to discuss further aid for Greece. EUR/USD hit a session high of 1.2739 and later consolidated at 1.2713, which was a 0.04% gain for the European morning trading session. The support was likely to be at 1.2689, while resistance was prone to
On Monday, the Euro advanced versus the British Pound, following an approve of Greek austerity program, but gains seemed to be capped by an upcoming Eurozone finance ministers meeting. EUR/GBP hit a session high if 0.8012, and later consolidated at 0.8010, which was a 0.19% growth for the European morning trade.
Japanese machinery orders tumbled more than forecast in September, one more indicator signaling that the Japan's economy is falling into recession on disagreements with China and declining domestic demand. Current account surplus, one of the main indicators tracking the nation's well-being, also slipped paring with a slump in exports. According to government data on Thursday, core machinery orders also plummeted 4.3% in September, while analysts had
On Monday, the Cable was traded lower versus the U.S. counterpart, hitting a 2-month low, on growing uncertainty over Greek bailout. GBP/USD hit a session low of 1.5866 and later consolidated at 1.5874, which was a 0.14% decline for the trading session. The pair's support was likely to be found at 1.5826, whereas resistance could be at 1.5943.
On Monday, copper fluctuated in a tight range during European morning trading hours, as uncertainty over Greece's bailout was undermining the demand for the metal, while optimistic Chinese data was supporting it. On the Comex, December delivery futures inched up 0.15%, being traded at $3.450 per pound. Earlier, it hit a session low of $3.430 and a session high if
On Monday, British government notes were traded higher, as an upcoming report on inflation is widely expected to show an increase in U.K. prices, which may trigger further round of loose monetary policy. The yield on benchmark 10-year bonds declined 2 basis points, and reached a level of 1.72% by 10:38 a.m. in London.
Spanish bonds were lower on Monday, amid an upcoming meet of finance ministers to discuss Greek debt crisis. The yield on benchmark 10-year government notes inched up by 5 basis points, reaching a level of 5.875% by 11 a.m. in London. Earlier, the yield on the bonds hit 5.88%, which was the highest level since October 11.