News

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

Thu, 12 Dec 2013 10:14:08 GMT

New Zealand's food prices fall in November

New Zealand's food prices decreased on a sequential basis on November recording the second straight monthly fall as fish, poultry and meat prices dropped 2.1% and vegetables and fruits declined 1.1%, the Statistics New Zealand showed in a report on Thursday. The country's food prices slipped 0.2% in November following a 1.0% slide in the previous month.

Thu, 12 Dec 2013 10:03:05 GMT

New Zealand's house prices increase in November

New Zealand's house prices recorded the highest level all time in November despite a drop in number of sales, a data revealed by the New Zealand's Real Estate Institute showed on Thursday. According to the data, the country's house prices gained to 4.3% rising from a level of NZ$425,000 to NZ$17,475, while in November 2012 the prices were 10.9% lower.

Thu, 12 Dec 2013 09:50:03 GMT

Yen falls versus Greenback and Euro on new budget in U.S.

The Japanese currency declined on Thursday falling to recent lows versus the 17-nation bloc currency and the U.S. Dollar as investors weighed on prospects of the global economy after the U.S. policymakers reached a budget deal suggesting a possible scale back of stimulus. The Yen dropped to 102.58 per U.S. Dollar and it traded at 141.20 yen followed by a

Thu, 12 Dec 2013 09:39:03 GMT

Australian jobless rate drops to 5.8% in November

Employment in Australia increased at the fastest pace in a seven-month period in November beating original expectations despite a fall of planned jobs in the country's car industry, a report published by the Australian Bureau of Statistics revealed on Thursday. The unemployment rate recorded 5.8% as the economy added 21,000 new jobs in November. 

Thu, 12 Dec 2013 09:28:03 GMT

Japan's government raises its stimulus budget for fiscal year 2013/14

The Japanese government led by the Prime Minister Shinzo Abe raised its monetary easing budget for the this fiscal year by $53 billion in order to support the economy as the nation increases its sales tax next year, the Ministry of Finance reported on Thursday. The supplementary budget totaling 5.46 trillion yen is adding to the previous extra budget sizing

Thu, 12 Dec 2013 09:15:04 GMT

U.S. stocks drop on new budget

U.S. shares edged lower on Wednesday trading session recording the largest drops in a month after the U.S. lawmakers agreed on a new provisional budget easing some of the fiscal drag and suggesting that the Fed may curb its stimulus on the next policy meeting. The S&P 500 Index shed 1.13% to 1,782.22, the Dow Jones industrial average fell 0.81%

Thu, 12 Dec 2013 09:04:03 GMT

Asia's shares fall as Fed may curb stimulus sooner

Asian equities tumbled on Thursday falling towards the lowest level in more than months amid expectations that the U.S. Federal Reserve may trim its aggressive stimulus on a new budget deal easing the fiscal drag on the country's economy. The MSCI broadest Asia-Pacific gauge outside Japan slipped 0.7% reaching the weakest level since October during the intraday session. 

Wed, 11 Dec 2013 16:06:17 GMT

Retail sales in Cyprus drop 6.1% in September

Retail sector of Cyprus continued to show a significant decline in September of the current year, as the economy decline and unemployment rises. The volume of retail sales slumped 6.1% in the mentioned month after a 3.1% decrease in August. The results show a considerable decline in economic activity. At the same time, retail sales from January to September posted

Wed, 11 Dec 2013 15:55:03 GMT

BMW to build engines in North America

BMW AG, the largest manufacturer of luxury cars in the world, is planning to build its first engine production plant in North America, as the company wants to invest more in expanding region's car market. It is planned the plant to be built either in U.S. or in Mexico and to be opened after 2014. Today, BMW AG equities are

Wed, 11 Dec 2013 15:44:04 GMT

Home Depot earnings to rise slower in 2014

Home Depot Inc., the biggest retailer for home improvement and construction products, announced that its revenue in the next few years will grow on the weaker pace, adding only 5% till January 2015. At the same time, company's management expects the EPS to surge 17% to $4.35. Today, Home Depot Inc. shares are jumping 0.89% to $79.31 per share by

Wed, 11 Dec 2013 15:33:03 GMT

U.S. lawmakers reach budget agreement

U.S. lawmakers reached the bipartisan budget agreement, as the current deadline for budget deal is December 13. It is expected that the new deal will finance the government until 2016. The Congress should vote on the deal soon. It includes a $23 billion decline in the deficit, mainly due to spending decrease. Alongside, the government will invest more in education

Wed, 11 Dec 2013 15:22:05 GMT

New loans in China rise more than predicted

The total amount of new loans in China in the national currency, yuan, reached 624.6 billion in November of this year, while economists forecasted the total sum to be around 580 billion yuan. Aggregate financing totaled 1.23 trillion yuan, while the M2 money supply surged 14.2 on the annual basis. Analysts say that increasing number of new loans in China

Wed, 11 Dec 2013 15:11:05 GMT

German final inflation stays unchanged in November

The consumer price index in the largest economy of the Eurozone remained stable in November of the current year from the initial estimate, matching analysts' predictions. The final inflation was 0.2% on a monthly basis, the same as a month ago. On the annual basis, however, the CPI advanced 1.3%. During the last month the energy prices in Germany dropped

Wed, 11 Dec 2013 15:00:15 GMT

Japanese machinery orders rise slightly in October

The total amount of new orders for machinery in Japan increased 0.6% in October of 2013 on a monthly basis, as the demand advanced before the upcoming sales tax rise in the next year. The indicator for September, in turn, fell 2.1%. The total value of orders climbed to around 800 billion yen. It is worth pointing out that on

Wed, 11 Dec 2013 10:43:07 GMT

Treasuries fall on budget agreement

U.S. Treasuries declined on Wednesday ending a three-day increase on speculation that the agreement over U.S. budget may help the nation's economy supporting the Federal Reserve's decision to trim its bond-buying program on the next policy meeting. The benchmark 10-year yields traded at 2.81% by 7:10 a.m. London time.

Wed, 11 Dec 2013 10:32:03 GMT

Aussie drops after rising 4 straight days before unemployment report

The Australian Dollar dropped on Wednesday snapping its four-day increase, the largest winning streak in a seven-week period before a government report showed that unemployment in the country reached the highest figure since 2009. The so-called Aussie shed 0.1% to 91.44 U.S. cents by 11:19 a.m. Sydney time following an increase of 1.4% in the prior four sessions.

Wed, 11 Dec 2013 10:21:05 GMT

Copper is little changed as China's growth forecast improves

Copper fluctuated on Wednesday after the Asian Development Bank increased China's gross domestic product growth outlook for 2013 to 7.7% from 7.6% in October, as China is the world's largest consumer of the commodity. Copper for settlement in three months was little changed on the London Metal Exchange at $7,155.50 a metric ton as of 10:15 a.m. Shanghai time.

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