The British Sterling strengthened on Tuesday rising towards the highest level in two weeks against the euro-area currency before a report showed that business confidence in the United Kingdom jumped to the strongest level in twenty years in November-January quarter. The Pound added 0.1% to 82.44 pence a Euro by 7:43 a.m. in London.
The U.S. currency held firm against the Japanese Yen on Tuesday and it is approaching a possible resistance level at 104.92 yen after the U.S. Federal Reserve signaled that it may cut its bond-purchasing program further on a policy meeting next week. The so-called Greenback added 0.5% to 104.65 yen and traded close to its one-week high reached on January
The majority of Asian stocks increased on Tuesday trading session led by Japanese equities and as money rates in China eased after economic data from the U.S. signaled that the Federal Reserve may trim its stimulus as soon as next week. The MSCI Asia-Pacific gauge outside Japan advanced 0.5% as the benchmark Japan's stock index Nikkei 225 added 1.5%.
German shares slipped, after the benchmark DAX Index had its biggest one-week climb in approximately a month, as Deutsche Bank AG fell after posting its quarterly report that missed the expectations. The DAX slid 0.4% to 9,708.86 as of 2:10 p.m. Frankfurt time; however, it advanced 2.9% past week as the World Bank raised its global growth forecast.
Vacant job in the U.S. rose to a five-year high in November, as the labor market gained before the deceleration in the last month of 2013. The number of job openings rose by 70,000 reaching 4 million, the highest level in five years, comparing with October's 3.93 million revise. The faster is a hiring pace, the more income gains that is needed to enhance consumer
Malaysia's Ringgit declined to the weakest level in four month since Chinese data, the state's biggest export market, showed the deceleration. The Ringgit depreciated 0.4% to 3.3090 against the U.S. Dollar from January 16 at 10:15 a.m. after touching 3.3135, the lowest level in four months. The Ringgit also dropped against most of its 11 Asia's traded peers.
Emerging-market shares dropped for a third straight day after China's factory output and business spending missed estimates. The MSCI Emerging Markets Index slid 0.3% to 969.88 as of 4:03 p.m. Hong Kong time and it is set for the lowest level since January 9. The equity-benchmark has retreated 3.3%, while the MSCI World Index has fallen 0.3% this year to
The U.S. Dollar advanced to the highest level in eight weeks versus the 18-nation currency on speculation that the Fed will keep scaling back its stimulus as nation's economy improves. The greenback added 0.1% to $1.3557 per Euro at 9:46 a.m. London time, after strengthening to $1.3508, the highest level since November 25. The Dollar traded at 104.19 Yen after
New property sales in China continued to surge during the last year, as prices rose mostly in big cities amid absence of more strict property regulations on the national level. The total value of bought homes increased 27% in 2013, reaching $1.1 trillion. Concerning December, prices in Shenzhen and Guangzhou added 20% annually, in Shanghai they rose 18%, but in
The British currency gained to the highest level in one week against the shared currency after U.K. housing data indicated that the prices grew this month. The Sterling traded at 82.43 pence per Euro at 10:45 a.m. in London, after reaching 82.33 pence, the highest level since January 9. U.K currency was little changed at $1.5447, after touching $1.6424 at
The Aussie added from 3 1/2-year low when the data in China showed growth that was more than the medium forecast. Australia's currency was almost unchanged at 87.79 U.S. cents yesterday at 4:44 p.m. in Sydney after hitting 87.57, the lowest since July 2010, due to Chinese GDP expanding 7.7% in the October and December compared with the previous year. The kiwi slipped 0.1% to
The sovereign credit rating of Ireland was increased by one of the main rating agencies, Moody's, as the country successfully exited the EU bailout program. Therefore, the rating raised from Ba1 to Baa3 became the investment grade. The outlook became positive as well. It is worth pointing out that Moody's had decreased to country's credit rating for five times during
Number of job vacancies in the financial capital of the Western Europe declined in the last month of 2013, as banks struggle with high regulatory costs and penalties related to them. Totally, the biggest banks that work in the City paid about $77 billion as legal costs since 2008. Therefore, banks decrease recruiting, as free vacancies lost 42% in December
Platinum traded in New York increased on Monday trading session amid speculation that the South African largest suppliers of the precious metal may start a labour strike starting on January 23 pushing the prices higher. Platinum for immediate delivery gained 0.7% to $1,463.28 an ounce, the strongest level since November 7, while an ounce of platinum buys 1.1656 gold ounces.
Gold increased on Monday rallying towards the strongest level in nearly six weeks amid signs that demand of holdings for exchange-traded products backed by the precious metal rose at the fastest pace since 2011. Bullion for delivery this month gained 0.5% to $1,260.07 an ounce, the most since December 11, and was last traded at $1,255.88 as of 3:10 p.m.
Natural gas futures trade in New York declined of the second straight day on Monday amid speculation that mild weather in the U.S. may reduce demand for the commodity. Natural gas for settlement in February declined 2.8% to $4.203 a British thermal units on the NYMEX and was last seen at $4.270 as of 2:40 p.m. in Singapore.
Deutsche Bank AG, the largest investment bank in Germany, reported an unexpected loss for the last quarter of the previous year, as accounting charges and legal costs exceeded estimates. The pretax loss stood at 1.15 billion euro, while the average prediction of economists was a 628.5 billion euro profit. Today, Deutsche Bank AG shares are losing 1.76% to 37.74 euro
The European benchmark Brent crude lost on Monday trading session increasing the WTI-Brent premium from $11.89 recorded on January 17 to $12.42 today after a report showed that the world's second largest oil consumer, China, recorded slower economic growth in the Q4. Brent for settlement in March slipped 26 cents ti $106.22 per barrel on the London's ICE exchange.
West Texas Intermediate oil decreased on Monday falling from the strongest closing prices in a two-week period after government report unveiled that industrial production in China eased last month. WTI for settlement in February dropped 76 cents to a level of $93.61 per barrel on the NYMEX and was last seen at $93.74 as of 3:40 p.m. in Singapore.
Most of European shares fell on Monday trading session after the benchmark index Stoxx Europe 600 recorded a two-week rally rising towards the highest level in six years as Deutsche Bank AG and PSA Peugeot Citroen reported unfavourable quarterly results. The Stoxx Europe 600 Index lost as much as 0.1% to 335.44 as of 8:26 a.m. London time after surging
Manufacturing production in China continued to advance considerably in December of the last year, however, the pace of increase slowed from November's data. The output rose 9.7% in December on the annual basis, comparing with a 10% jump a month ago. Moreover, the biggest advance in production was posted by the automotive industry, where the output expanded 14.9%.
Inflation measured as producer price index in the Europe's largest economy declined in December falling for the fifth successive month, a report published by the statistical office Destatis showed on Monday. According to the report, German PPI fell 0.5% on an annual basis in December after dropping 0.8% in the month before, while it was projected to slide 0.6%.
Producer prices in South Korean continued to decline in December extending the deflation period to fifteen successive months, the latest data published by the Bank of Korea showed on Monday. According to the report, the country's producer price index slipped 0.4% on an annual basis in December after dropping 0.9% in the prior month and 1.4% in October.
Consumer confidence in Japan returned to declines in December suggesting that the country's households are not satisfied with the government's economy, a report revealed by Capital Economics and the Cabinet Office unveiled on last week. Japan's consumer confidence dropped surprisingly from November's level of 42.5 to 41.3 recorded in December.