The performance of global economy is likely to slow down, according to a report published by the Organization for Economic Co-operation and Development, as decline in emerging markets weakening the global growth outlook. The world economy is set to expand 2.7% in 2013 compared to an originally expected level of 3.1% projected in May.
Producer prices in the Europe's largest economy dropped for the third successive month in October with the rate of growth exceeding forecast, the latest data released by the Federal Statistical Office showed on Wednesday. German industrial producer price index slipped 0.7% year-on-year in October after it fell 0.5% in the month before.
The British Sterling appreciated on Wednesday rising to the strongest level in three weeks against the U.S. Dollar before the minutes of Bank of England was published showing that the bank's officials maintained the interest rate at record low. The Pound advanced 0.1% to $1.6134 as of 8:02 a.m. in London following an increase to $1.6149 on November 18, the
Employment costs in the world's largest economy increased at a slower pace than economists originally expected in the three months to September, a report unveiled by the Labor Department showed on Tuesday. According to the report, employment costs index added 0.4% in the Q3 after it increased 0.5% in the quarter before.
Online job advertisements in Australia declined marginally by 0.1% in October from the month before following drops recorded over last few months, suggesting that the economy may be stabilized, the Department of Employment showed in a report on Wednesday. However, the country's level of vacancies dropped 17.4% on an annual basis in October.
The U.S. currency weakened on Wednesday falling against the 17-nation bloc currency after the Federal Reserve Chairman Ben Bernanke claimed that the U.S. central bank may continue its easy monetary policy until its needed. The so-called Greenback fell 0.1% to $1.3554 following an earlier drop to $1.3584, the lowest level since November 1.
Wall Street shares closed lower on Tuesday with the benchmark indexes Dow Jones and S&P 500 falling further from their all-time highs as companies from Best Buy to Campbell Soup showed unfavourable results. The Standard & Poor's 500 Index slid 0.20% to 1,787.87, the Dow Jones industrial average fell 0.06% to 15,967.03 and the Nasdaq Composite Index tumbled 0.44% to
Asian equities edged lower on Wednesday tracking stocks on Wall Street after the current Federal Reserve Chairman Ben Bernanke commented the bond purchasing program lifting prices of commodities and weakening the U.S. currency. The MSCI Asia-Pacific index outside Japan slipped 0.6%, while Hong Kong's gauge recorded a small gain and it has added 3% this week.
The German ZEW economic sentiment advanced to 54.6 this month, the 4-year record-high level, surpassing analysts expectation of an increase to 54.0, while the gross domestic product added 0.3% on a quarterly basis and grew 0.6% on a annual basis, meeting the preliminary estimates. Meanwhile, the Eurozone economic confidence increased to 60.2 in November, from prior 59.1, namely 2.9 points
European currency depreciated 0.04% to 1.3499, after closing at 1.3504 on Monday, as investors where concerned about OECD revised global growth forecasts, which were downgraded almost half a percentage point to 2.7% for this year and 3.1% for 2014, while the Eurozone economy is expected to rise by 1% next year, compared to a May's estimate of 1.1%, the Paris-based
Britain's economic expansion May's forecast revised up from 0.8% to 1.4% expected in November, while for the upcoming year the economy is estimated to grow by 2.4%, the OECD said on Tuesday. The Bank of England also increased its Q4 forecast to 0.9% growth and 2013 yearly based rate to 1.6% increase. At the same time the french organization lowered
The Australian Dollar advanced 0.22% versus the U.S. counterpart, trading at $0.9397 at 6:59 am GMT time, the strongest level since November 8, ahead of tomorrow's Fed meeting minutes, which will clarify whether the central bank will continue its assets purchase programme or reduce it sooner than expected on U.S. economic outlook. Nevertheless the RBA said that the Australian Dollar
Precious metal declined 0.17% to $1,270.20 an ounce after Fed president C. Dudley said he was hopeful about U.S. economic recovery, pointing at upbeat employment data and GDP growth in Q3. His comments revived concerns among investors that Fed is most likely to reduce its quantitative easing programme earlier than expected.
A leading index of Japan's economy improved in the month of September, although at a weaker pace than originally forecast, a data revealed by the Cabinet Office showed on Tuesday. According to the data, Japan's leading economic index advanced to 109.2 in September from a level of 106.8 recorded in August, while it was forecast to climb to 109.5.
Forecast for New Zealand's inflation rate in the last quarter of 2013 remained almost unchanged from the quarter before, a survey released by the Reserve Bank of New Zealand revealed on Tuesday. According to the survey, the country's one-year inflation rate is forecast to record 1.94% in the Q4, while in the Q3 it grew to 1.90% and the two-year
New car registrations in Europe advanced for the second successive month in October, according to a report unveiled by the European Automobile Manufacturers' Association on Tuesday. Year-on-year, Europe's car sales added 4.7% in October after rising by 5.4% in the month before, first time when the figure increased two consecutive months since September 2011.
Emerging-market equities advanced on Tuesday rising for the fourth straight day as technology and consumer shares gain amid spurred demand after Fed's officials signaled continued stimulus until the U.S. economy improves. The MSCI Emerging Markets Index rose 0.4% to 1,028.94 by 3:29 p.m. Hong Kong time, set to reach the highest closing price since October 31.
Employment growth in the Europe's largest economy continued to increase at a steady pace in the three months to September, a report released by the Federal Statistical Office revealed on Tuesday. According to the report, the country's employment gained 253,000 or 0.6% on an annual basis in the Q3 after it advanced by 0.6% also in the quarter before.
German shares decreased on Tuesday snapping a three-day gain as S+S AG (SDF) and SAP AG declined overshadowing a report forecast to showed that investors' confidence in the country increased to the strongest level in four years. The benchmark index DAX fell 0.3% to 9,194.08 as of 9:40 a.m. Frankfurt time and it has added 21% this year.
The South Korean currency increased on Tuesday rising towards the highest level in a two-year period after the Federal Reserve officials signaled more stimulus spurring demand for emerging-market equities. The Won gained 0.2% to 1,055.95 against the U.S. Dollar at 10:32 a.m. Seoul time, a level not seen since October 24.
The Canadian Dollar advanced on Tuesday rising to the highest level in more than a week after the Chinese Communist Party revealed an economic reform improving an outlook for Canada's commodity exports. The so-called Loonie strengthened 0.2% to C$1.0415 per U.S. Dollar following a drop to C$1.049 by 5 p.m. Toronto time.
The New Zealand's currency slipped versus its Australian counterpart on Tuesday falling from the highest level in five years after a report showed that inflation in New Zealand topped its expectation in this quarter. The so-called Kiwi declined 0.2% to NZ$1.1270 per Australian Dollar by 3:20 p.m. Sydney time after it increased to NZ$1.1198 yesterday, the most since October 2008.
German government bunds increased on Tuesday pushing the benchmark 10-year yield towards the weakest level in more than a week before a government report showed that German investors' confidence slowed down in November. 10-year yields were little changed at 1.68% by 7:21 a.m. in London following a fall to 1.677%, the least since November 7.
The U.S. Dollar slipped on Tuesday falling for the second straight session against the Japanese currency amid concerns that the Federal Reserve representatives including its current Chairman Ben Bernanke may prefer continued stimulus until the economy improves. The so-called Greenback slid 0.1% to 99.85 yen as of 7:37 a.m. in London following a yesterday's 0.2% drop.