The Loonie appreciated versus its U.S. counterpart as the Bank of Canada Governor Mark Carney did not change the interest rates and held his position on raising the interest rates if the economic growth continues. The currency advanced from the lowest level in almost 12 months as it is predicted that GDP grew 2.3% at an annual rate in the
The British Pound appreciated for a second straight day versus the greenback as an report showed U.K. home-prices rose the most in one and a half year in May. House prices increased 1.1% compared to the last year; average house value reached 167,912 Pounds ($254,700) as it jumped 0.4% from April . The British currency gained 0.2% to $1.5156 as
The Japanese Yen advanced after domestic stocks fell and the report indicated that Japan's investors were sellers of external debt for the second week, spreading concern the country's unprecedented monetary policy has yet to add traction. The Yen advanced 0.3% to 100.88 versus the US Dollar and climbed 0.1% to 130.84 against the Euro.
China's shares advanced for a fourth day in a row, impacted by automakers gains, as confidence among U.S. consumers jumped and the home-price data brightened the outlook on exports to U.S. The Shanghai Composite Index climbed 0.1% to 2,234.02, while the CSI 300 index declined 0.1% to 2,642.56 at the close.
US shares dropped, showing that the Dow Jones Industrial Average will drop from a record, on concern that the Fed may start to diminish its debt-buying Policy. Standard & Poor's 500 Index futures maturing next month fell 0.6% to 1,644.7, ahead of the five-year US Government note auction. The Dow delivery slipped 0.6% to 15,288.8.
The South Korean currency reached the weakest level in seven weeks and government bonds slipped amid speculation the Fed will snap debt purchases, which have risen demand for emerging-market assets. Yields rose to a three-month high. The yield on South Korea's 2.75% government bonds that mature in March 2018 climbed to 2.85%. The Won slipped 0.5% to 1,132.92 against the
The Japanese Yen appreciated versus the greenback and the shared currency as the Bank of Japan Governor Haruhiko Kuroda stated that the financial system's stability is essential, while the Aussie slipped. The Japan's currency appreciated 0.2% to 102.17 per Dollar at 7:57 a.m. in London and also strengthened 0.2% to 131.35 per Euro. The Australian currency fell 0.7% to 95.50
European shares and German Bund prices dropped after improved US economic report spread speculation the Fed may reduce its bond-buying policy. German bond futures were at 143.39, they decreased by 43 ticks, with traders expecting unemployment and inflation report out of Germany to confirm the economic growth. The FTSE Eurofirst 300 Index, the top European shares, fell 0.5%.
European shares slipped after the Stoxx Europe 600 Index jumped the most in a period of 30 days as the U.S. economy is expected to boost and that may slow down the stimulus. The Stoxx 600 fell 1% to 305.06 as of 9:57 a.m. London time; the index is still set for 2.8% gain in May. The Stoxx 600 index
The German jobless claims increased approximately four times beating the economists' expectations in May as the Eurozone debt crisis and the cold climate have made an impact on the Germany's economy. The Europe's largest economy's unemployment level has risen for fourth month in a row; it was estimated to grow by 5,000, but it climbed by 21,000 reaching 2.96 million,
Most Asian shares advanced for the second day after data indicated US consumer confidence gained the most since 2008 and home prices rose to the highest level in seven years. The MSCI Asia Pacific Index increased 0.1% to 137.240, with about five stocks climbing for every three that dropped. US consumer confidence reached a 5-year high yesterday, the index increased
Gold fell in London after a stronger US Dollar curtailed demand for the alternative investment and on speculation the US economy is expanding. The US Dollar added 0.4% versus a six-currency basket amid speculation the Fed may reduce QE measures. Gold futures dropped 1% to $1,380.60 an ounce this morning in London.
It is expected that the four biggest banks of the U.K. will cut approximately 189,000 jobs by the end of the year 2013 and that would lead to the lowest employment level in nine years. Royal Bank of Scotland Group Plc, HSBC Holdings Plc (HSBA), Lloyds Banking Group Plc (LLOY) and Barclays Plc (BARC) are predicted to employ 606,000 people
The Stoxx Europe 600 index has climbed for a second consecutive day, advancing 0.8% to 306.62 so far today. Share prices increased after a drop last week, which was caused by speculations about an early end of the Fed's QE and an unexpected contraction in Chinese manufacturing. Bearish momentum seems to have reached its peak as bulls are coming to
The South Korean Won was lower by 0.2% to 1,124.9 per U.S. Dollar in the morning of Seoul trading session on Tuesday. The currency touched 1,131.43 on 24th of May, which was the lowest level since 12th of April. Today the exchange rate dropped amid speculation that domestic importers took an advantage of the stronger Won and settled their month-end
The Philippine Peso weakened by 0.6% to 41.865 per U.S. Dollar in the morning of Manila trading session on Tuesday. The Peso slipped to the lowest level since 27th of September, as the domestic equity index prolonged its retreat on speculation that economic growth will slowdown in Philippine.
The Indian Rupee depreciated by 0.2% to 55.6750 per U.S. Dollar in the morning of Mumbai trading session on Tuesday. The Rupee slipped towards a nine-month low, as investors showed their preferences to purchase the U.S. Dollar on signs that the biggest world's economy is improving and is on the track of stable growth.
The Australian Dollar was slightly changed at 96.45 U.S. cents in the second part of Sydney trading session on Tuesday. The pair is traded around an 11-month low, as investors expect to see improvements in U.S. consumer confidence and manufacturing indexes and still speculate about a tightening of monetary easing in the United States.
Taiwan will allow insurance companies to invest $3.3 billion in infrastructure projects in order to lift its export-dependent economy, as it was harmed by weakening global demand. The official 2013 growth forecast was cut from 3.59% to 2.4% due to decreasing demand for its tech exports in China and the U.S. It is expected that the plan will increase the
The Japanese Yen was higher by 0.2% to 101.09 per U.S. Dollar in the second part of New York trading session on Tuesday. The currency increased 1.9% last week, which was the steepest gain since 1st of June. The market is concerned about the Bank of Japan, which struggles to monitor a jump in domestic bond yields.
The Dollar Index, which tracks the greenback performance against six major counterparts, was higher by 0.2% to 83.89 by the midday trading session in Tokyo on Tuesday. Investors are optimistic about the Dollar, as economists say that consumer confidence data will improve and home prices will be higher in the biggest world's economy.
The European Commission will say on Wednesday that austerity in the Eurozone should continue, however, it could be done at a slower pace than before. This comment will come as the EU reconsiders its policy focus and moves from fiscal consolidation to structural reforms. The Commission will give more time to decrease budget deficits with a condition of further labour-market
Japanese Nikkei 225 index dipped 1.4% at the beginning of the Tuesday's session only to rebound and surge 1.4% later in the day. The growing stock market encouraged investors to sell the Yen, which lead to the Dollar's appreciation of 0.9% to 101.86 Yen. MSCI's index of shares outside of Japan jumped 0.2%, while Australia's .AXJO and South Korea's .KS11
Сhina will seek 7% average annual GDP expansion through 2020, compared to more than 10% growth rate in a previous decade, according to China's Premier Li Keqiang. He added that urbanization and industrialization provides with a lot of potential for growth. This year's target is set at 7.5% as economy expanded 7.7% in the first quarter on an annualized basis.