The European benchmark Brent crude gained on Wednesday trading session after a survey showed that stockpiles in the world's largest oil consumer, U.S., are forecast to have advanced by 2.5 million barrels last week. Brent for settlement next month rose 41 cents to $107.76 a barrel on the London's ICE Futures exchange.
West Texas Intermediate crude increased on Wednesday rising for the second straight session amid speculation that a report this week may show inventories in the U.S. dropped for the sixth week. WTI for delivery in February gained 40 cents to $97.07 per barrel on the NYMEX and traded at $93.97 by 3 p.m. in Singapore.
The Australian Dollar declined on Wednesday falling against the majority of its most-traded peers on speculation that the U.S. Federal Reserve may continue to trim its stimulus measures reducing liquidity in emerging markets. The so-called Aussie added 0.3% to 93.66 yen and it was little changed versus the U.S. Dollar at 89.24 U.S. cents as of 5:56 p.m. Sydney time.
Australia's job vacancies declined on an annual basis in November as the total number dropped 14.9% totaling 140,000, a report revealed by the Australian Bureau of Statistics showed on Wednesday. According to the report, the country's job vacancies fell 0.3% in the three months to November after gaining by 3.1% in the August-October period.
Construction sector activity in Australia accelerated for the third successive month in December with the construction index reaching a level of 50.8, however the figure fell sharply compared to the previous month, a report revealed by the Australia Industry Group showed on Wednesday. According to the report, Australia's construction activity fell from November's 55.2, but stayed above a level of
Gold declined on Wednesday as the U.S. Dollar held firm before the U.S. Federal Reserve released minutes from the last policy meeting suggesting that the country's central may continue to trim its stimulus measures. Bullion for January settlement fell 0.5% to $1,225.71 an ounce and traded at $1,226.62 as of 2:16 p.m. Singapore time.
The European Central Bank is under pressure to take further steps in its monetary policy in order to reach the inflation target set at 2% after a report showed that price level in the Eurozone slowed down to the lowest level all-time at 0.8%, Ben May from Capital Economists said on Wednesday. The statistical office Eurostat also reported that core
British shop prices recorded the sharpest fall in almost seven years in the month of December after retailers went with heavy discounts in order to attract Christmas shoppers, a report revealed by the British Retail Consortium showed on Wednesday. According to the report, the country's shop price index slipped 0.8% on an annual basis in December after falling by 0.3%
The Canadian Dollar declined on Wednesday as investors put their bets on a drop of the currency after a report showed that purchasing managers' index in the country decreased notable in December and as Canada's trade deficit widened. The so-called Loonie traded at C$1.0810, the most since May 2010, and it was 0.3% lower at C$1.0799.
Asian stocks increased earlier on Wednesday trading session after a government report showed that the trade deficit in the world's largest economy shrank to the lowest level in a four-year period and as inflation in the Eurozone stands at record low of 0.7%. The MSCI broadest Asia-Pacific Index outside Japan gained 0.5%.
U.S. shares closed lower on Tuesday with the benchmark stock index Standard & Poor's snapping its three-day drop and recording the first daily gain since the beginning of 2014 after a data showed a sharp fall in the U.S. trade balance deficit. The S&P 500 Index added 0.61% to 1,837.88, the Dow Jones industrial average rose 0.64% to 16,530.94 and
U.S. shares advanced, halting a three-day decline, as this week's earnings and jobs data were awaited by investors. The Standard & Poor's 500 Index gained 0.2% to 1,830.98 as of 9:30 a.m. New York time; however, the equity benchmark has declined 1.2% from January 2. The Dow Jones Industrial Average climbed 0.3% to 16,474.43.
According to the Eurostat data, the consumer price index in the Eurozone declined surprisingly to 0.8% in December of 2013, while analysts forecasted no change from November's 0.9%. Therefore, the indicator went further away from the 2% ceiling set by the ECB. Among goods, food prices added 1.8%, while cost of services advanced 1%. Meanwhile, energy prices remained unchanged.
The negative trade balance of Canada widened sharply in November of 2013, while the actual number was nine times higher than economists predicted, reaching as much as $940 million. Analysts awaited the deficit of $100 million, with $500 million as the worst estimation. Moreover, the trade numbers for October was revised down from a $75 million surplus to $908 million
The U.S. Senate finally approved the Janet Yellen's candidacy as the new Federal Reserve chairwoman, voting 56 to 26, while 11 Republicans supported Yellen as well. Therefore, Janet Yellen will become not only the 15-th head of the Fed, but also the first woman, who will be responsible for monetary policy in the U.S. The second term of Ben Bernanke
European shares advanced, after Monday's drop in the benchmark Stoxx Europe 600 Index, as German unemployment declined the most in two years. The Stoxx 600 added 0.6% to 328.88 as of 1:09 London time; however, the equity-benchmark rallied 17% in 2013. Standard & Poor's 500 Index futures climbed 0.4%, while the MSCI Asia Pacific Index slid 0.4%.
German shares gained after nation's unemployment data showed the biggest fall in two years, indicating on growing sentiment among Germany's companies. The DAX added 0.7% to 9,490.21 as of 1:47 p.m. Frankfurt time and the gauge jumped 25% last year as the ECB kept benchmark interest rates low. The HDAX Index climbed 0.6 today.
Retail sales in Germany jumped as much as 1.5% in November of the current year, while analysts expected a three times smaller increase of 0.5%-0.6%. Experts say that strong retail sales in the biggest economy of the Eurozone are showing that the recovery in the country continues to gain pace. In Germany, retail sales contribute around 25% of all private
U.S. stock-index futures gained, after the benchmark Standard & Poor's 500 Index slid for a third consecutive day, as this week's earning and jobs data were awaited by investors. S&P 500 futures expiring in March rose 0.4% to 1,827.80 as of 8:36 a.m. in New York; however, the equity-benchmark has declined 1.2% from January 2. Dow Jones Industrial Average contracts
The trade deficit of the United States decreased to its smallest value since 2010 in November of this year, indicating that the economic recovery in the country is gaining strength. Moreover, oil prices pushed imports down 1.4%, while exports inched up 0.9% on a monthly basis. The total deficit narrowed to $34.3 billion, declining by 12.9% from October's revised deficit
The British currency reached its highest level versus the greenback in approximately two years on manufacturers and services companies' survey that indicated on nation's improving recovery. The Sterling advanced 0.2% to $1.6430 as of 11:14 a.m. in London, after rising to $1.6603 on January 2, while the currency traded at 83.07 pence per Euro.
Switzerland's Franc declined to the lowest level in two months versus 18-nation currency as Europe's higher-yielding government bond advance reduced demand for the Swiss currency. The Franc fell 0.4% to 1.2368 per Euro at 8:43 a.m. New York time, making it the biggest retreat since December 18, after it touched 1.2373. Switzerland's currency slid 0.3% to 90.69 centimes per Dollar.
French consumer confidence advanced in the last month of 2013 following a declined in the prior month, a report revealed by the statistical office Insee showed on Tuesday. According to the report, the country's consumer confidence index rose from 84 points in November to a level of 85 in the following month, while it was forecast to stay unchanged in
European shares fluctuated on Tuesday trading session before a government report showed that unemployment in the Europe's largest economy declined for the first time in a five-month period. The benchmark index Stoxx Europe 600 decreased less than 0.1% to 326.91 as of 8:01 a.m. London time and it has advanced 5.6% from December 13.