The U.S. Treasuries declined on Friday session and were set to record their first weekly drop so far this year amid speculation that today's payroll report may force the U.S. Federal Reserve to trim its bond purchases further. The benchmark 10-year government notes yielded at 2.70% as of 8:16 a.m. London time.
Forecasts of economic growth and inflation in Australia was raised by the Reserve Bank mainly due to a weaker currency boosting exports and restraining imports to the country, the latest Monetary Policy Statement published by the bank showed on Friday. Australia's growth is forecast to record 2.25-3.25% at the end of this year, while inflation should grow by 3%.
Manufacturing production in Spain posted an advance for the second consecutive month in December of the last year, though the pace of increase slowed slightly. The indicator rose 1.7% on the annual basis after a 2.4% surge in November. Month-by-month, production decreased 0.3%. Analysts explain the positive trend with gradual economic recovery in the country.
A leading economic indicator in Japan advanced in the last month of 2013 rising for the fourth consecutive time and exceeding initial estimates, a report published by the Cabinet Office showed on Friday. The report unveiled that the nation's leading economic index rose from November's 111 to 112.1 recorded in the following month.
China's service sector weakened in January suggesting that the overall business activity in the country moderated recently, the latest data published by Markit Economics and the HSBC Bank showed on Friday. The HSBC business activity in service sector slipped from December's level of 50.9 to 50.7 recorded in the following month.
Positive trade balance in Germany reached a record number in 2013, showing the largest positive number in the history of compiling data for trade. Surplus for 2013 rose to 198.9 billion euro versus 189.8 billion a year ago, while exports fell 0.2% and imports dropped 1.2%. During December, surplus was 18.5 billion euro, as exports posted a 0.9% decline and
Gross reserves in South Africa shrank on a monthly basis in January mainly reflecting the U.S. Dollar appreciation versus the major currencies, a report revealed by the South African Reserve Bank showed on Friday. According to the report, the country's gross reserves fell from December's level of $49.58 billion to January's $49.35 billion.
Wall Street shares closed higher on Thursday session recording their largest gain in a day so far this year after a report showed that jobless claims in the country declined boosting a confidence in the overall economic situation. The Dow Jones industrial average added 1.22% to 15,628.53, the Standard & Poor's 500 Index gained 1.24% to 1,773.43 and the Nasdaq
Foreign trade deficit in France declined significantly in December of the previous year amid stronger than predicted exports, which rose 3.5%, in comparison with an imports' rise of 1.9%. Negative balance reached 5.21 billion euro, which is less than 5.67 billion euro a month ago. At the same time, on the annual basis the decline of the deficit was registered
The U.S. Dollar weakened on Friday before a government report showed that the U.S. non-farm payrolls increased by 185,000 in January suggesting that the local economy is improving. The so-called Greenback slipped to $1.3619 and shed 0.1% to 102.03 yen, while the U.S. Dollar index measuring its performance against most-traded peers fell to 80.885.
The majority of Asian shares increased on Friday session rebounding from the lowest level in five months recorded on Wednesday before a government report showed that the U.S. payrolls gained suggesting that the U.S. economy gathered its momentum back. The MSCI Asia-Pacific Index outside Japan advanced 0.8% following a 2.2% drop recorded in the previous session.
Gold gained toward the highest level in five days in New York as investors speculated on the U.S. stimulus outlook on worries economic expansion may slow. The yellow metal for April delivery rose 0.3% to $1.260.50 an ounce as of 8:15 a.m. in New York. Bullion for immediate delivery advanced 0.2% to $1,260.82.
The total number of claims for unemployment benefits in the United States decreased considerably during the week ended on February 1, reaching 331,000. Analysts expected them to fall to 335,000. At the same time, the indicator for the week before was revised negatively to 351,000. Analysts say that slump in claims shows that employers become more confident about economic situation.
The Governing Council of the ECB decided to maintain the current monetary policy and implement no changes, despite the fact the inflation level decreased significantly during several previous months. The benchmark refinancing rate was kept at 0.25%, while the deposit rate was unchanged at 0%. Therefore, the results matched the majority of economists' expectations.
On Thursday, the Bank of England decided to keep the monetary policy in the country unchanged, despite a significant decrease in unemployment during last months, which fell close to the key level of 7%. The BoE kept the benchmark interest rate at 0.5% today, while bond purchases remained at 375 billion pounds. Probably, the BoE will wait for a more
The British currency reached the lowest level in three weeks versus the 18-nation currency ahead of Bank of England interest-rate decision on bets that officials will leave borrowing costs low. The Sterling slid 0.1% to 83.03 pence per Euro as of 11:07 a.m. in London, after falling to 83.34 on Wednesday. The Pound slipped 0.1% to $1.6294 after declining to
German shares rose, with the regional benchmark DAX Index bouncing off from the lowest level in seven weeks, as major companies as Daimler AG reported better than expected fourth-quarter profit. The DAX added 0.3% to 9,145 as of 9:53 a.m. Frankfurt time, snapping a four-day streak of losses. The HDAX Index climbed 0.4% today as well.
U.S. stock-index futures gained, indicating that equities will rise for a second straight day, as earning releases of major companies and jobless claims were awaited by investors. The Standard & Poor's 500 Index futures expiring in March added 0.5% to 1,752.8 as of 11:04 a.m. London time. Dow Jones Industrial Average contracts rose 0.5% to 16,436 today.
The total number of factory orders in Germany surprisingly fell in December of the previous year, as domestic demand weakened, showing that investors in Europe are still not confident about sustainability of Eurozone's recovery. Orders, including inflation and seasonal factors, were down 0.5% on a monthly basis after a 2.4% jump in November. Economists waited for a 0.2% rise.
Commerzbank AG, the second biggest bank in Germany, said on Thursday that it sold non-performing mortgages in Spain with a total amount of 710 million euro, as the bank wants to decrease risky assets by 600 million euro and issue 20 million euro of new capital. Stock prices of Commerzbank AG are picking up 2.9% to 13.04 euro per share
Vodafone Group Plc, the largest telecommunications company in the U.K., announced a 4.8% decrease in revenue for the Q4 to 9.8 billion pounds, while analysts predicted the indicator to decline 4.9%. More negative results in Europe were balanced by growth in Africa and Asia. Today, Vodafone Group Plc shares are rising 2.7% to 221.75 pence per share by 11:30 GMT
Volvo AB, the second-largest truck manufacturer in the world, plans to increase the previously planned job cuts from 2,000 to 4,400, as the company wants to bring annual savings to 4 billion kronor, starting from 2015. The reorganization will cost the company about 5 billion kronor. On such news, Volvo AB stocks are jumping 4.3% to 89.20 kronor per share
Deutsche Bank AG, the biggest investment bank in Europe in terms of revenue, will announce a second consecutive year of limits for cash bonuses, as European banks are asked to maintain more responsible payouts policy to avoid financial problems. The cap will probably reach 300,000 euro. Today, Deutsche Bank equities are rising 1.8% to 35.70 euro by 11:15 GMT in
Credit Suisse Group AG, one of biggest banks in Switzerland, announced its Q4 financial results that missed economists' predictions, as the bank a saved more money to pay for legal issues, namely 514 million francs. The net income totaled 267 million francs versus a 398 million francs average estimate. Today, Credit Suisse Group AG shares are dropping 1.2% to 26.72