Eurozone annual inflation held stable at 2.4% in July, the Eurostat reported on Thursday. Consumer prices declined 0.5% on monthly basis in July. Core inflation rose to 1.7% on year from 1.6% in June. Energy costs surged 6.1%, and food prices increased 2.5%. Housing and clothing price rose 3.8% and 3.1%, respectively. The central bank targets to sustain inflation lower
Swiss economic sentiment advanced unexpectedly to a three-month high in August, the Centre of European Economic Research said on Thursday. The economic sentiment indicator increased 9.2 points to -33.3 in August, compared to a -42.5 reading in July, however still posting a pessimism. Following the data, USD/CHF rose 0.11% to 0.9783.
The Pound rose versus the Euro and cut a fall against the U.S. Dollar as a report posted U.K. retail sales increased unexpectedly in July. On Thursday, the Sterling traded 0.1% up at $1.5704, after falling 0.3% before the data. It gained 0.2% to 78.21 pence per Euro.
U.K. July retail sales surged more than expected and an upwardly revised June data suggest the second quarter downturn wasn't as deep as first estimated, the National Statistics reported on Thursday. Headline retail sales increased 0.3% on month and 2.8% on year in July, compared to estimates of 0.2% decline on month and 1.4% gain on year.
Foreign direct investment in China dropped to the two-year low in July, boosting worries weaker confidence in the nation's improvement prospects can hold back any economic rebound. Investment fell 8.7% on year to $7.58 billion, the eighth drop in last nine months and the weakest flow since July 2010, the Ministry of Commerce said on Thursday.
Germany's employment continued rising in the second quarter, however at a lower pace from a previous quarter, the Federal Statistical Office reported preliminary data on Thursday. The number of employed people surged 1.3% on year to 41.587 million in the second quarter, compared to a 1.4% rise before.
Australia's average weekly earnings rose 0.4% q/q in the first quarter, the Australian Bureau of Statistics reported on Thursday. Weekly wages in the public sector surged 0.7% on quarter, while in private sector it increased 0.3%. Overall earnings rose 3.4% from a year earlier.
Canada's Dollar rose against most of its major peers on prospect nation's economic growth will support the exports. The Loonie gained 0.3% to 98.94 cents per U.S. Dollar, after reaching 98.87, a three-month high. One Canadian Dollar purchased $1.0107, trading above the parity nine days in a row. It surged 0.7% versus the Euro to an all-time strong level of
German 10-year Bund yields gained for a fourth day after Asian stocks rose and before a report expected to affirm the Eurozone's inflation held at 2.4% in July. The two-year security was little changed, holding negative for the 30th straight day. The Bund rate surged to 1.59%, after rising to 1.61%, the highest level since June 29. The price of
U.S. Treasuries dropped for a fourth day before a data expected to show U.S. new-home construction was near the most since 2008. The 10-year yields rose to 1.85%, after touching 1.86%, the highest since May 11. The 1.625% note due in August 2022 slipped in price to 97 29/32. Job, factory and consumption reports this month all signaled growth in
Japan's stocks gained, lead by the Nikkei 225 Stock Average rising to a six-week high, as Chinese Premier Wen Jiabao announced easing inflation will provide more space for monetary stimulus to boost the economy. The Nikkei 225 rose 1.9% to 9,092.76, its strongest level since July 4. The Topix Index gained 1.6% to 759.12.
Australia's and New Zealand's Dollars surged versus most of its major counterparts after commodities climbed on signs of advancement in U.S. economy. On Wednesday, the Aussie gained 0.2% to $1.0505. It increased 0.5% to 82.98 Yen. The Kiwi rose first time in last three days, climbing 0.2% to 80.1 U.S. cents. It surged 0.5% to 63.76 Yen.
The Yen tumbled against all its major peers after Asian stocks climbed and the additional yield investors get from U.S. treasuries rose to the four-month high, reducing the allure of Japan's currency. The Yen dropped 0.4% to 79.29 per U.S. Dollar, after reaching 79.36, the weakest level since July 13. It fell 0.2% to 97.27 per Euro. The MSCI Asia
Gold demand declined 7.1% in the second quarter after investment fell 23% and Asian jewelry consumption dropped 15% on higher local costs and worries about economic growth, reported by the World Gold Council. Gold demand fell to 990 metric tons, compared to 1,065.8 tons a year before. Gold declined 4.3% in the second quarter in London.
Copper rose as Chinese Premier Wen Jiabao commented lower inflation gives a room to change monetary policy, fueling optimism the government will act to boost the economy. Three-month delivery copper gained 0.8% to $7,443.75 per metric ton in London. December-delivery copper increased 0.5% to $3.3765 per pound in New York.
Oil was near the highest level since May as U.S. inventories fell to the four-month low and China added a sign it may step up efforts to boost the economy. On Thursday, futures were little changed after yesterday's 1% gain. Stockpiles dropped 3.7 million barrels and total oil consumption climbed to the nine-month high last week. September-delivery oil fell to
Gold futures edged higher on Wednesday, after early losses, and aimed to break the period of two loss sessions. Bullion for December settlement added 0.3%, to $1605.30 per ounce, before dipping under $1600; September silver jumped 0.3%, to $27.84 per ounce. On the contrary, other precious metals depreciated, with copper, palladium and platinum all for September delivery erasing 0.1%, 0.4% and 0.1%, respectively.
According to the Office for National Statistics (ONS) figures, the unemployment rate in the U.K. fell by 46,000 to 8.0%, or to 2.56 million. The improvement by 0.2% may be explained by the Olympics, which took place in London. Still, the number of people, who are working part-time reached a 20-year peak, and added 16,000 to 1.42 million in the second quarter.
The world's biggest economy is improving, since the Fed's last policy meeting on August 1. Goldman Sachs raised its GDP growth forecast in the third quarter to 2.3%. Additionally, latest better-than-expected fundamentals may influence Fed's decision about launching another massive bond-buying program, or introducing QE3.
The U.S. Dollar strengthened versus the shared currency on Wednesday, as European leaders do not act in order to bolster Eurozone's economy. The EUR/USD currency pair dropped 0.33% to $1.2281, while the ICE Dollar Index added 0.14% to 82.66. The greenback was also supported by improved U.S. fundamentals, such as inflation and industrial production.
German shares declined on Tuesday despite positive data from the US. Concerns over the global economic instability continued to weight down on German stocks. German DAX Index lost 0.59% to trade at 6,941.62 at GMT 12:00. Eight out of nine industries retreated. Utilities managed to climb. RWE slid by 1.18% while E.ON added 0.93%.The biggest losers were telecommunications and technology
UK stocks declined on Tuesday as support from hopes for stimulus measures from the ECB started to fade. Meanwhile, positive data flow from the US restricted the downswing of the equities. The FTSE 100 Index lost 0.0% to trade at 5,835.43 at GMT 12:00. Six out of ten sectors included in the index dropped. Technology and health care firms buoyed
Hong Kong shares plunged on Tuesday amid worries that China's economic slowdown will weight on domestic demand. However, speculation that the PBOC will announce stimulus measures provided slight support for Chinese equities. The Hang Seng Index tumbled by 1.18% to end Tuesday's session at 20,052.29. Only two in ten industries included in the index rose. The top-gainer was consumer services
Rural commodities extended previous losses on Tuesday as favorable weather in Brazil and India is expected to increase crops. At the same time, drought in the US and Russia limited the downswing of the farm commodities. Wheat declined despite strengthening demand from major importers amid lower crops in the US and Russia. Corn slumped on speculation that recent rally may erode