Shares traded in Wall Street decreased on Thursday as the social media network Twitter entered the markets rising 92% in its first trading day on the NYSE, however, the benchmark S&P 500 suffered its worst daily drop since August. The Dow Jones Industrial average fell 0.97% to 15,593.98, the S&P 500 Index slipped 1.32% to 1,747.15 and the Nasdaq Composite
Chinese exports recorded a notable increase in the month of October with the pace of increase exceeding economists' expectations suggesting that the country's economy is improving, a report published by the Customs Administration revealed on Friday. According to the report, the country's exports rose 5.6% in October compared to a 3.2% gain originally forecast.
The European Central Bank surprisingly lowered its benchmark interest rates to an all-time low on yesterday's policy meeting claiming that the rate cut may prevent the recovery from slowing down and helps reach the inflation target. The 23-man Governing Council cut the main refinancing rate by 0.25% to 0.25% as inflation in the euro-area eased to 0.7% in October.
The U.S. Dollar increased on Friday against the 17-nation bloc currency before a government data showed that payrolls in the U.S. rose and as the European Central Bank surprisingly cut its interest rates on yesterday's policy meeting. The U.S. Dollar Index measuring a performance of the currency against its most traded peers gained to 81.46, the most in eight weeks,
The Sterling was fluctuated at 83.43 pence per Euro at 9:22 a.m. in London, after reaching 83.01 pence yesterday, the highest since January 17, after Standard & Poor's, the world's leading index and credit ratings provider, downgraded France's credit rating by one notch from AA+ to AA, as government's taxation, services and product as well as labor market reforms
West Texas Intermediate crude oil advanced 0.16% to $94.38 per barrel, while the Brent sweet light crude slipped 0.44% to $103.03 per barrel this morning, as U.S. economy expanded 2.5% during last three month, showing signs of sustained recovery. GDP advanced to annualized 2.8% in Q3, which is 0.8% more than expected, while jobs claims dropped by 9,000 to 336,000
The Koruna dropped 4.8% versus the European currency to CZK26.982, after Czech National Bank introduced an aggressive foreign exchange intervention measure by selling 500 million of its home currency in order to prevent economy deflation. The consumer price index, as a tool to measure the inflation rate, reached 1% in September and is likely to continue falling, the CNB explained.
The Eurozone's largest economy trade surplus increased 1.7% from €13.3 billion in August to €20.4 billion in September, thus exceeding analysts expectations. The Federal Statistics Office for Germany reported fall in imports by 1.9% to €74.3 billion and surge in exports by 1.7% to €94.7 billion in September, while some say that Europe's number one economy needs export limits in order to help other EU countries cut deficits.
European stock futures traded at lower level this morning before important U.S. report on non-farm payrolls today at 1:30 p.m. GMT. The Euro Stoxx 50 index declined 0.67% to 3,022.81 and German DAX dropped 0.6% to 9,026.53. The French CAC 40 sank 0.77% to 4,248.77, while U.K. FTSE 100 slid 0.53% to 6,661.52. The U.S. Bureau of Labor Statistics expects
Asian stocks are close to the longest loosing streak in five month time, after the U.S. economic growth results raised concern that the Federal Reserve could taper stimulus faster than expected. The MSCI Asia Pacific Index tumbled 0.4%, thus reaching 1% weekly drop. One of the biggest decline was for Fortescue Metals which retreated 4.2%, when Teck Resources Ltd. put
The shared currency deprecated versus the U.S. Dollar after the Standard & Poor's downgraded France's long-term foreign and local-currency grade from AA+ to AA. The analysts predicted that the Euro is faced for 2.9% drop in next two weeks, while other forecasts that the Eurozone's currency might even loose it's 5% gains against the greenback by mid-2014.
The Aussie advanced against most of its 16 major counterparts this week,thus extending its five-day winning streak. The Australian currency reported gains after Chinese import advanced 7.6% and export surged 5.6% resulting in $31.1 billion trade surplus. The Australian Dollar is the second most overvalued currency after the New Zealand Dollar.
French industrial production dropped 0.5% in September, against analyst's expectations of 0.4% expansion, the data from National Institute of Statistics and Economic Studies showed on Friday. The Manufacturing output slipped 0.7% from prior 0.3% increase a month earlier, again missing forecast of 0.4% increase. On the annual basis the manufacturing performance in France dropped 1.3%, while industrial production sank 0.5%
The main rating agency, Standard&Poor's, decreased the sovereign credit rating of France from AA+ level to AA, changing the outlook of the rating from negative to stable. It is the second consecutive decrease of country's rating during the last two years. Rating agency says that such a decision was made, based on low growth forecasts that can put additional pressure
Treasury 5-year note yields slid two basis points to 1.32% at 10:40 a.m. in New York, after touching 1.25% on October 30, the weakest in almost 4 month period, as ECB officials unexpectedly lowered interest rate to 0.25%. Meanwhile 10-year Treasury yields declined 0.02% to 2.63% and 2.5% security note maturing in August 2023 added $1.25 per $1.000 nominal value,
The Pound advanced 0.8% to 83.33 pence per Euro as of 4:37 p.m. in London, after reaching 83.01, the highest level since January 17, after ECB decided to boost Eurozone's economic expansion by reducing the benchmark interest rate to record low 0.25%. Meanwhile, the Sterling weakened against greenback after the U.S. data showed higher economic expansion in Q3 than previously
The so-called loonie weakened as U.S. reported greater economic expansion than expected, while European Central Bank took a surprising decision today in Frankfurt to cut its main refinancing interest rate to a record-low 0.25%. ECB believe that this measure should boost economic growth in Euroznoe. The Canadian currency sank 0.3% to C$1.0444 per greenback as of 9:22 a.m. in Toronto
The European currency depreciated 1.1% to $1.3369 as of 2:50 p.m. in London, after it touched $1.3269, the seven-week low, as European Central Bank unexpectedly decided to cut its interest rate at the record low of 0.25% explaining such a decision as a measure to support economic growth in Eurozone. The Euro slipped 0.5% to 132.66 Yen and sank 0.7%
After the decision to lower the benchmark interest rate to 0.25%, the President of the European Central Bank Mario Draghi said on Thursday that the Eurozone is going to have a period of quite a low level of inflation. At the same time, the ECB President does not expect the deflation in the region. Moreover, after some time the inflation
Manufacturing production in the largest economy of the Eurozone declined 0.9% in September of this year, while the majority of experts forecasted the output to advance slightly 0.2% from a month earlier. Meanwhile, the data for the previous month was upgraded to the increase of 1.6%. On the annual basis, the industrial production in Germany added 1%, while the pace
The number of applications, filled for getting the unemployment benefit in the U.S. declined to 336,000 during the last week. Then, in turn, the amount of unemployment claims stood at 345,000, while economists expected it to reach 332-335 thousand this week. Analysts say that now American citizens and companies feel themselves more confident on rising car sales and increase in
The economy of the U.S. jumped 2.8% in July-September quarter on the annual basis, while the results were ahead of analysts' expectations, as they predicted the GDP to add 2.0%. The economy advanced 2.5% the quarter ago. At the same time, the consumer spending rose only 1.5% in Q3, the slowest pace of increase since 2011. Economists predict the Q4
The European Central Bank decided to decrease its main interest rate from 0.50% to 0.25%, as the region faces the high risk of consumer prices' decline, while the inflation decreased to 0.8% in October. It is worth pointing out that such a step was forecasted only by three of 70 analysts. At the same time, the ECB kept the deposit
After the Thursday meeting, the Bank of England's Committee for Monetary Policy decided to keep its main interest rate at the record low level of 0.5%, as the asset purchasing program remained at 375 billion pounds. The decision fully matched the economists' expectations. Recently, the BoE officials said that there will be no changes in policy until the jobless rate