News

Fri, 13 Dec 2013 12:40:04 GMT

WTI falls on speculation over stimulus scale back

West Texas Intermediate oil dropped on Friday trading session heading for a weekly fall on speculation that the Federal Reserve may trim its aggressive bond-purchasing program as the economy improves. WTI for delivery in January shed 9 cents to $97.41 a barrel on the NYMEX as of 3:31 p.m. in Singapore after rising 6 cents yesterday to $97.50.

Fri, 13 Dec 2013 12:29:03 GMT

Pound falls versus Euro on rising house prices in U.K.

The British Sterling weakened on Friday falling for the second straight week against the shared currency after a government report showed that house prices in the United Kingdom jumped to record highs in November. The Pound swung between gains and losses and traded at 84.18 pence a euro by 9:17 a.m. London time and it has fallen 0.4% this week.

Fri, 13 Dec 2013 12:18:05 GMT

Spain's inflation rise in line with expectations in November

Spain's inflation measured as harmonized and consumer price index increased in October matching economists' original expectations, a report revealed by the statistical office INE on Friday. According to the report, the country's harmonized index of consumer prices gained 0.3% on an annual basis in November following a 0.2% advanced in the prior month.

Fri, 13 Dec 2013 12:07:03 GMT

Italy's rating affirmed by S&P

Sovereign debt rating of Italy was affirmed by Standard & Poor's rating agency amid diversified and wealthy economy and an improvement in external balance sheet, the rating agency showed in a report on Friday. The gross domestic product of Italy's economy is forecast to recover 0.4% and 0.9% in 2014 and 2015 respectively.

Fri, 13 Dec 2013 11:56:03 GMT

Swiss producer and import prices drop in November

Producer and import prices in Switzerland dropped in the month of November with the index for imported and domestic products falling by 0.4% on a sequential basis, a report published by the Federal Statistical Office unveiled on Friday. Month-on-month, the price index slipped 0.1% as domestically produced goods fell 0.1% and imported goods slid 0.2%.

Fri, 13 Dec 2013 11:45:07 GMT

Japan's industrial output expands in October

Japanese industrial output advanced on a sequential basis in October rising at a faster pace than economists originally expected, a report published by the Ministry of Economy, Trade and Industry revealed on Friday. Japan's industrial production gained 1% compared to a 0.5% growth initially forecast as shipments climbed monthly by 2.3% in October.

Fri, 13 Dec 2013 11:34:03 GMT

U.S. Dollar and Euro rise versus Yen on strong retail sales

The U.S. Dollar increased together with the Euro on Friday against the Japanese Yen after a government report showed that the U.S. retail sales accelerated last month suggesting that the U.S. Federal Reserve may trim its stimulus as soon as on the next policy meeting. The U.S. Dollar added 0.2% to 103.59 yen, while the Euro gained 0.2% to 142.43

Fri, 13 Dec 2013 11:23:03 GMT

World-equity index drops as retail sales' growth accelerates

Global shares declined on Friday session with the world-stock index heading towards the biggest two-day fall in six months as the U.S. Dollar increased to the strongest level in five years versus the Yen after retail sales accelerated suggesting that the Federal Reserve may curb its stimulus. The MSCI world stock index decreased 2.5% in the last two weeks and

Fri, 13 Dec 2013 11:12:03 GMT

Japanese equities rise as Yen drops versus U.S. Dollar on strong retail sales

Japan's shares increased on Friday with the benchmark local index Nikkei ending its three-day decline as the country's currency reached the lowest level in five years versus the U.S. Dollar after a government data showed that retail sales in the U.S. expanded. The Nikkei 225 added 0.4% to 15,403.11, while the Topix index dropped 0.3% to 1,238.88.

Thu, 12 Dec 2013 17:21:06 GMT

U.S. retail sales increase the most since July

The total volume of retail sales in the United States surged 0.7% in November of 2013 after a slightly fewer 0.6% rise a month ago, as the pace of advance reached its highest level in five months. Analysts did not expect the pace of increase to change from October level. Experts explain the good performance of U.S. retailers mostly with

Thu, 12 Dec 2013 17:10:07 GMT

U.S. unemployment claims jump to 368,000

The total number of claims for unemployment benefits in the U.S. climbed 68,000 during the previous week, reaching 368,000 comparing with 300,000 claims a week before. Economists say that this jump was the largest in more than one year, as they predicted the number of jobless claims to rise slightly to 321,000. Together with that, the average indicator for four

Thu, 12 Dec 2013 16:59:06 GMT

Eurozone's manufacturing declines in October

The manufacturing sector of the Eurozone continued to shrink in October of the current year, as the indicator decreased 1.1% on a monthly basis after an upwardly revised 0.2% drop in September. At the same time, analysts expected the industrial output to rise as much as 0.4%. Economists say that it will be difficult to reach positive Q4 economic growth

Thu, 12 Dec 2013 16:48:12 GMT

Treasuries decline as U.S. retail sales surge

The value of U.S. Treasuries decreases on Thursday, as the yields jumped to the largest level this week, as the official data reported on significant surge of 0.7% in U.S. retail sales, more than analysts predicted. It increases the probability of Fed tapering. Moreover, the yields for 10 and 30-year bonds reached the lowest level since September 23, as the

Thu, 12 Dec 2013 16:37:07 GMT

The RBA prefers weak currency to low rates

Glenn Stevens, the Governor for the Reserve Bank of Australia announced on Thursday that he would prefer the weak national currency and its low exchange rate with U.S. dollar rather than having low interest rates. Stevens said that the 85 cents rate would better support the Australian economy, increase employment level and help the manufacturing sector to erase losses from

Thu, 12 Dec 2013 16:26:03 GMT

Swiss CB keeps the exchange rate limit unchanged

After the Thursday meeting, the Swiss National Bank decided to keep the limit for franc-euro exchange rate at the previous level of 1.20, as this floor supports the economy and exports in Switzerland and is decreasing the pressure on the franc. At the same time, the Libor forecast for franc was kept at 0.25%. Moreover, it was announced that the

Thu, 12 Dec 2013 15:21:03 GMT

Indian inflation exceeds 11% in November

The consumer price index in India surged 11.24% in November of this year on the annual basis, while the Central bank could reject to increase the main interest rate, as the industrial production declined. The total output shrank 1.8% in October, more than economists predicted before. The current key interest rate is 7.75%, which has already been increased in September

Thu, 12 Dec 2013 11:42:05 GMT

Kiwi strengthened on signs Reserve Bank may increase rates

The New Zealand's currency advanced on Thursday rising against the majority of its most-traded peers and reaching the five-year peak versus the Aussie amid speculation that the Reserve Bank of New Zealand may raise its benchmark interest rates as the economy improves. The so-called Kiwi grew 0.3% to 82.84 U.S. cents, it added 0.5% to 84.98 yen and traded at

Thu, 12 Dec 2013 11:31:04 GMT

Aussie drops as unemployment rises

The Australian Dollar weakened on Thursday falling for the second straight day after a government report showed that jobless rate advanced to the highest figure since 2009 and as consumer spending in the U.S. accelerated. The so-called Aussie declined 0.2% to 90.27 U.S. cents as of 4:57 p.m. Sydney time following a 1.1% fall recorded yesterday.

Thu, 12 Dec 2013 11:20:04 GMT

Treasuries fall as U.S. government issues 10-year yields

U.S. Treasuries declined on Wednesday trading session as the country issued benchmark 10-year government bonds in an auction totaling $21 billion drawing smaller-than-expected demand suggesting that the Federal Reserve may scale back its stimulus as soon as on the next policy meeting. 10-year yields jumped 5 basis points to 2.85% following a drop by 0.07% in the prior 3 days.

Thu, 12 Dec 2013 11:09:08 GMT

Pound rises against U.S. Dollar before Osborne speaks

The British Sterling strengthened on Thursday snapping its two-week decline against the U.S. Dollar before a speech of George Osborne, the Chancellor of the Exchequer, explaining the last week's year-end budget statement. The Pound rose 0.1% to $1.6386 as of 7:44 a.m. in London following a 0.4% drop yesterday, the biggest fall since October 25.

Thu, 12 Dec 2013 10:58:03 GMT

France's consumer prices gain in November

EU harmonized inflation in France slightly increased in November matching preliminary economists' expectations, a report published by the statistical office Insee reported on Thursday. According to the report, France's consumer prices harmonized index added 0.8% in November on an annual basis following a 0.7% advance in the previous month.

Thu, 12 Dec 2013 10:47:03 GMT

Euro rises versus U.S. Dollar before Draghi speaks in parliament

The shared currency was little changed on Thursday trading near the highest level in seven days against the U.S. Dollar matching the longest winning streak since April 2011 as the European Central Bank President Mario Draghi holds a speech today in the EU parliament. The Euro fluctuated at $1.3784 by 7:05 a.m. London time following an increase to $1.3811, the

Thu, 12 Dec 2013 10:36:09 GMT

German bunds fall before industry report

Government bunds in Germany declined on Thursday with the benchmark 10-year yield snapping its four-day advance before an industry report showing that industrial output in the 17-nation bloc increased in October following a 0.3% slip recorded in the previous month. German 10-year yields rose two basis points to 1.84% by 7:12 a.m. in London. 

Thu, 12 Dec 2013 10:25:03 GMT

Gold fluctuates on concerns over stimulus scaleback

Gold swung between gains and losses on Thursday trading session falling from the strongest level in three weeks amid speculation that the U.S. Federal Reserve may curb its stimulus as soon as on the next policy meeting as a new provisional budget was approved. Bullion for settlement in December lost 0.2% following a $2.25 increase to $1,254.50 an ounce as

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