The Canadian Dollar depreciated against the U.S. Dollar from almost the highest level in two weeks on uncertainty about the next head of the Bank of Canada as Mark Carney, current Bank of Canada Governor, was appointed as the head of U.K. Central Bank. The Loonie declined 0.2% against the U.S. counterpart and traded at 99.52 cents per greenback after
Oil declined on European Union officials meet to find solution for Greece to escape fiscal abyss after they decided to give Greece 2 more years to cut budget deficit on November 12 and after they failed to reach an agreement at all-night meeting last week. January-delivery crude oil dropped 78 cents to $87.50 per barrel, while the contract for brent
The Pound declined against the U.S. Dollar, following gain to the highest level in three weeks, amid the Eurozone finance ministers' meeting to discuss a bailout payment for Greece after they didn't manage to find compromise during last meeting. The Pound lost 0.1% against the U.S. Dollar and traded at $1.6010 after reaching $1.6051, a 3-week high, on November 23.
Swiss employment continued to expand in the third quarter, exceeding the analysts' forecasts. The number of employed surged to 4.12 million in this quarter, higher than the expected rate of 4.09 million, advancing from 4.07 million in the second quarter. The nation's seasonally adjusted rate of unemployment reached the highest reading since March 2011of 3% in October, inching higher from September's
German stocks declined on mounting concerns over Greece as the Eurozone's finance ministers meet today to discuss the terms of the next Greek bailout installment. Moreover, separatist parties won the regional elections in Catalonia this weekend, fuelling worries that Catalonia may seek independence from Spain. The DAX Index lost 0.35% and is currently trading at 7,283.23. Only two in nine
UK shares moved lower as traders are eying Eurogroup talks on Greek bailout resumed for the third time on Monday. Sending UK equities lower, the Institute for Fiscal Studies reported that austerity measures in the UK may have to be continued until 2018 if economy does not pick up soon. The FTSE 100 Index sagged 0.63% to trade at 5,782.46.
European stocks fell before Eurozone's finance ministers meet for a third time to discuss Greece's finances. The Stoxx Europe 600 Index dropped 0.2% to 272.73, after jumping 4% last week on optimism that the Congress will agree on the U.S. budget. Futures on the Standard & Poor's 500 Index lost 0.4% todays, whereas the MSCI Asia Pacific Index rose 0.4%.
Hong Kong equities retreated on Monday as market players booked profits after four-day rally on better-than-expected data from Europe and the US. Adding pressure on Hong Kong blue chips, investors were cautious ahead of Eurogroup meeting on Greece's bailout due later in the day. However, the downswing was capped by easing concerns over slowing national economy. The Institute of Economic
Japanese shares moved higher as weaker Yen boosted exporters. Moreover, hopes that opposition Liberal Democratic Party will win election next month and will put more pressure on the BoJ to ease its monetary policy supported Japanese stocks. Opinion polls showed that the Liberal Democratic Party is leading ahead of a December 16 election. The Nikkei 225 Index added 0.24% to
Dow jumped on Friday amid optimism over Chinese economy. Morgan Stanley predicted China's economy to expand by 8.2% next year and by 8% in 2014, citing positive impact of recent easing measures of the government. Moreover, upbeat German business sentiment figure lifted US blue chips. The Dow Jones Industrial Average Index surged 1.35% to close at 13,009.68. All sectors climbed.
US stocks rallied on Friday on encouraging economic data releases from Germany and hopes that Black Friday boosted retail sales. German business confidence unexpectedly climbed in November, stimulating demand for riskier assets. US equities also found support on signs that China's growth is back on track due to easing measures implemented this year. The S&P 500 Index surged 1.3% to
Opposing views on Japanese economic recovery appeared, as the newcomers were in favor of further monetary easing, whereas Masaaki Shirakawa, BOJ Governor, stayed to his previous statement that the monetary expansion, without any changes in the fiscal policy, will not solve the deflation turmoil in Japan. Sato, one of the former economists, stated that monetary policy should be closely linked
The South Pacific currencies traded close to their highest levels in 2 weeks on speculation that Eurozone finance ministers will release bailout funds for Greece, thus boosting demand for riskier assets. The Aussie bought $1.0454 from $1.0461 on November 23, when it touched $1.0471, the highest since November 7. The kiwi traded at 82.35 U.S. cents after touching 82.51, the
The 17-nation currency weakened for the first time in 6 days versus the Japanese Yen ahead of European officials' meeting in Brussels to discuss aid for Greece. The Euro also fell against most of the major counterparts as European stocks tumbled, curtailing demand for the Euro bloc's assets. The Euro dropped 0.5% to 106.38 yen after rising to 107.14 yen,
Farm commodities were mixed on Friday, with grains climbing and softs retreating. Rural commodities balanced between bullish USDA weekly export report and rising output in Brazil. Meanwhile, market players remained focused on weather forecasts in the key growing regions to gauge global supply potential.Wheat rose on better demand for US supplies. USDA reported that weekly wheat exports climbed 10% as
Energy futures except for natural gas climbed on Friday as upbeat numbers in Germany coupled with hopes for Greek bailout deal increased demand for riskier assets. Moreover, protests in Egypt over the extension of President Mohammed Mursi powers fuelled supply concerns, boosting energy prices.Crude oil surged on weaker US Dollar and optimism over the Eurozone. Lending additional support for the
Industrial metals apart from nickel rose on Friday, boosted by weaker US Dollar and an unexpected increase in German Ifo business confidence index this month. However, the upswing was capped as investors awaited the IMF and European finance ministers' decision on Greek bailout.Aluminum was the top-gainer on hopes for better demand in China. However, record inventories at global exchanges as
Precious metals rallied on Friday amid broadly weaker US Dollar and upbeat German confidence data. German Ifo Institute announced that its business confidence index jumped to 101.4 in November, compared to forecasts of a decline to 99.5. Meanwhile, market players remained focused on the EU finance misters' talks on Greek bailout due to be resumed on Monday.Gold surged on record
The Pound appreciated against the greenback as recent data showed mortgage approvals advanced to their highest level in nine months in October. The Sterling dropped to its lowest level earlier this month on the eurogroup's meeting. The currency rose 0.6% to $1.6030, after earlier peaking at $ 1.6035 and stayed little changed at 80.87 pence per Euro.
French equities advanced on upbeat German Ifo business climate index. Moreover, recent positive manufacturing and services PMI readings continued to support French stocks. At the same time, lingering concerns over Greece's bailout weighted down on French equities. The CAC Index climbed 0.05% and is currently trading at 3,499.80. Three in ten sectors included in the index rose. The top-performers were
German shares retreated despite positive business climate data. The Ifo Institute for Economic Research reported that its German business climate index advanced to 101.4 in October from 100.0 in September. Experts predicted the index to drop to 99.5 last month. German blue chips remained under notable pressure as market players were cautious over Greek bailout talks due to be resumed
UK stocks inched up on better-than-expected business climate data from Germany. However, gains were limited as uncertainty over Greek bailout persisted. The FTSE 100 Index added 0.1% to trade at 5,796.82. Six out of ten sectors within the index advanced. Defensive stocks led gains, with health care and consumer goods sectors rallying 0.31% and 0.33%. AstraZeneca and GlaxoSmithKline climbed 0.42%
Hong Kong equities advanced on Friday as upbeat PMI data continued to lend support for Chinese shares. Market sentiment was also boosted by China's officials' comments that the country is moving towards reforms as China enters a new stage of economic development. However, concerns that the Eurozone's finance ministers still have not agreed on the next Greek bailout tranche capped
German economy expanded 0.2% in the third quarter on seasonally adjusted basis matching analysts' forecast, yet slowing down the pace of growth as the GDP reading advanced 0.3% in the previous quarter. The main factors contributing to economic growth were exports, construction and household spending, whereas company investment and inventories deprived the nation's GDP. As the Eurozone is still struggling