The 18-nation currency depreciated versus most of its 16 major counterparts amid speculation the ECB may increase monetary stimulus in the following week since the forecast for consumer prices has worsened. Eurozone's currency contracted 0.4% before it was little changed at 140.79 yen as of 5 p. m. New York time, after the advance to 141.27 recorded on Feb. 21, the highest since Jan. 24.
The Prime Minister of Italy Matteo Renzi has got a support from the upper house of country's parliament. The vote of 169-139 for Renzi's appointment as the Premier increases the possibility of successful and long-awaited reforms in Italy. Matteo Renzi promises to bring changes into economy and decrease taxes in order to end the economic stagnation in the country and
The total number of approvals for mortgages in the United Kingdom jumped considerably in January of this year to its largest level in more than six years, helped by the government support program, when buying property. According to the BBA data, approvals increased to 50,000 in December, up from 47,100 in the last month of 2013. Economists expected the indicator
Retail sales in Italy plummeted surprisingly in December of the previous year, as the drop was posted by both non-food and food sectors. The indicator was down 0.3% on a monthly basis, after staying flat in November. Analysts expected a 0-0.4% growth, depending on survey. Moreover, year-on-year retail sales crashed 2.6%, while they were predicted to show a rise of
Risks of default in the United States decreased by around 50% during last four months, as the indicator of default slipped to 26.5 points from 46 in October, almost reaching the German level of 25 points. Analysts explain the positive movements by strong economic growth in the U.S. Moreover, recently the U.S. Congress approved an increase of borrowing authority until
According to the median expectation of analysts, inflation in New Zealand will reach 2.03% this year, the survey from the Reserve Bank showed on Tuesday. In December, it was predicted the inflation to be at 1.94% level. Therefore, now the average forecast is above the 2% target of the CB. Economists explain the rise in expectations by economic recovery and
Economic growth in Germany was affirmed at 0.4% in the last quarter of 2013, as it was initially predicted in January. In July-September quarter, GDP added 0.3%. The largest contribution to growth was done by investment, which increased 1.4%. Moreover, trade balance added 1.1% to the GDP increase. At the same time, inventories declined 0.8%, while government expenditures remained unchanged.
Corn declined on Monday trading session falling by the most in a five-week period amid rising concerns that supplies of the commodity may advance as production in the U.S. increased to an all-time high for the second straight year. Corn for settlement in May dropped 1.1% to $4.54 per bushel as of 9:56 a.m. on the CBOT and was set
The European benchmark Brent crude jumped on Monday after the Energy Information Administration reported that cushing stockpiles declined by 5.96 billion barrels in the December-February period totaling 35.9 million, the lowest level since October 2013. Brent for delivery in April rose 28 cents to $110.13 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate crude increased on Monday and traded above a level of $100 per barrel for the eleventh straight day amid speculation that supplies in Oklahoma dropped for the fourth successive time last week. WTI for settlement in April gained 14 cents to $102.34 per barrel as of 10:22 a.m. on the NYMEX.
European shares increased on Monday session after private companies from Dixons Retail Plc to Scania recorded notable gains on heightened merger activity overshadowing a drop in HSCB stocks as the company showed unfavourable earnings. The benchmark Stoxx Europe 600 Index gained 0.3% to 337.22 as of 3:39 p.m. London time.
Emerging-market equities declined on Monday trading session mainly due to a notable drop in Shanghai shares falling by the most in a seven-week period aid speculation that reduced lending in the property market may curb growth. The MSCI Asia-Pacific gauge outside Japan slipped 0.2% to 957.14 as of 9:36 a.m. New York time.
Consumer confidence in Brazil declined in February falling for the third consecutive time towards the weakest level in almost five years, a report published by the Fundacao Getulio Vargas think tank showed on Monday. According to the company, Brazil consumer confidence index fell from January's level of 108.9 to 107.1 in February.
U.S. shares increased on Monday trading session with the benchmark stock index Standard & Poor's rising towards the new all-time high on speculation that the country's economy may rise despite a scale back of the Fed's stimulus program. The S&P 500 Index gained 0.8% to 1,851.02 as of 9:57 a.m. New York time after it dropped 0.1% last week.
Gold advanced to a four-month high on speculation weaker than expected U.S. economic data and unrest in Ukraine increased safe haven demand. The yellow metal for April delivery gained 0.7% to $1,333 an ounce as of 7:37 a.m. in New York, after it approached $1,337.10 earlier today, the highest level since October 31. Bullion for immediate delivery rose 0.7% to
U.K. shares were little changed, as they reached the highest level in nine months, after HSBC Holdings Plc poster worse than forecasted profit. The FTSE 100 Index added less than 0.1% to 6,842.22 as of 3:30 p.m. London time and the index rose for sixth consecutive day. The FTSE All-Share Index climbed 0.1%, while Ireland's ISEQ Index increased 0.5% today.
The British currency halted a two-day retreat versus Eurozone's currency after Bank of England Governor Mark Carney stated that nation's central bank will support the recovery. The Sterling was at 82.61 pence per Euro at 3 p.m. in London, after trading at 82.67 pence on February 21. U.K.'s currency was little changed at $1.6602, after falling 0.8% against the greenback
Italian benchmark 10-year government bonds declined on Monday after a report showed that inflation in the 18-nation bloc increased more than economists originally expected and as German business confidence advanced. The 10-year yields jumped one basis point to 3.61% as of 3:09 p.m. in London following a drop to 3.53% on February 19, the least since January 2006.
Service sector in the United Kingdom increased in February period rising to the strongest level all-time as the sector recorded third successive gain in a quarter, a report revealed by the Confederation of British Industry showed on Monday. According to the report, the CBI survey of the sector shows that sentiment in consumer sector reached new high together with professional
HSBC Holdings Plc, the biggest bank in Europe, released a worse-than-expected profit for the year 2013, as the costs' cuts did not reach the goal. The pretax income added 9% to $22.6 billion, while economists forecasted a $24.6 billion profit. ROE indicator fell short of estimates as well. Today, HSBC Holdings Plc shares are trading down 3.5% to 631.5 pence
The Governor of the Bank of England Mark Carney said on Monday that he is not ready to change monetary policy in the country and take any additional risks, while economy grows. The economy should show more active signs of recovery. Previously, the BoE looked at the jobless rate as the main indicator, but for now the regulator is also
Citigroup Inc. economists said on Monday that concerns about housing bubble in Singapore are highly overvalued, while prices surged to the highest level in five years and started to decline in Q4 2012, dropping 0.9% quarter-on-quarter. At the same time, tight rules on mortgages and the fact that only 10% of all homes all bought in credit decreases the possibility
As a result of G20 meeting in Sydney, finance ministers and central banks' governors showed their support to Janet Yellen in moving forward with cutting economic stimulus amid recovery. United Kingdom and Australia were among the largest supporters of Fed's independent decisions. On the other hand, South Africa and India expressed their concerns about the pace of QE decrease.
The ECB President Mario Draghi announced on Monday that he is ready to increase economic stimulus and loosen the monetary policy further, if deflation risks increase in the nearest future. However, he pointed out that it is still very unlikely that prices will go down. The ECB meeting is planned to take place on March 6, when the policy makers