The Australian currency headed towards its biggest monthly slide in over two years amid speculation a stagnation in China will have a negative impact on the economy, inducing the Reserve Bank to cut key interest rates this year. The Australian Dollar has declined 5.2% in the past month, among the 10 developed-market currencies. The Aussie fell 0.2% to 96.47 versus
Gold is set for the best week since April, on bets that the Fed will not slow down the stimulus to spur the economic growth. The yellow metal for immediate delivery reached $1,414.95 an ounce as of 8:25 a.m. Singapore time. The prices touched $1,418.25 on Thursday, making it the highest level in two weeks, and have added 2% weekly.
The unemployment rate in the 17-nation currency area has reached a record high and inflation stays well under the European Central Bank's goal, indicating the challenge that EU officials is facing to recover the economy. The joblessness rate in the Eurozone increased to 12.2% in April, indicating a record high since 1995.
The Japanese currency appreciated versus the U.S. Dollar as European shares declined after Germany's retail sales dropped for a third straight month in April missing the expectations. The Japanese Yen is set for weekly gains versus almost all of its 16 most-traded peers as a slip in Japanese shares boosted the pressure on Prime Minister Shinzo Abe. The Japan's Yen
The Eurozone's currency climbed to the strongest level in two weeks versus the US Dollar on Thursday, as the greenback continued to decline and following better than predicted economic report from the Eurozone. The 17-nation currency gained 0.7% to $1.3006, the highest since May 14, as stop-loss buy orders above $1.30 were triggered.
European shares recovered from the biggest decrease in a week and US equity-index futures climbed ahead of a report on the improvement of the US economy. Japan's stocks fell while the US Dollar depreciated and gold climbed. The Stoxx Europe 600 Index added 0.6% and the Standard & Poor's 500 Index rebounded from earlier losses gaining 0.4%
The Aussie advanced from the 19-month low as the building approvals topped the economists' estimates, reducing the speculations that the Reserve Bank may cut the interest rates. The Australian currency climbed 0.5% to 96.82 U.S. cents at 4:27 p.m. Sydney time as it is headed for a 6.6% fall this month, while the Aussie strengthened 0.3% to NZ$1.1928 from Wednesday.
Asian shares declined as Japan's Topix Index and Nikkei 225 Index fell led by the commodities drop and the Japanese Yen appreciation. The MSCI Asia Pacific Index dropped 1.7% to 135.57 at 5:48 p.m. Tokyo time. The Topix slid 3.8%, while the Nikkei 225 slipped 5.2%; however, both indexes have gained more than 30% this year to date.
Europe's shares jumped, bouncing back from the lowest level in three weeks, ahead of the reports that may positively impact the U.S. economy. The Stoxx Europe 600 Index gained 0.2% to 303.14 as of 9:46 a.m. London time, while the Standard & Poor's 500 Index fell 0.2%. The Stoxx Europe 600 Index is set for a 2.2% climb in May,
According to the latest statistics, Spanish economy declined 0.5% in the first quarter of 2013 from the last quarter of 2012. On a yearly basis, GDP contracted by 2%. The Central bank of Spain expects GDP to decrease 1.3% this year. Additionally, unemployment rate in the country reached 27%. Moreover, country's budget deficit is planned to be 6.3% this year,
Gold gained to a highest level in one week as the greenback and the shares declined. Spot gold climbed 1.3% to $1,411.27 an ounce, the highest level since May 22, and it is set for the first back-to-back daily gain in almost a month. However, the prices have declined 4.8% this month on bets that the Fed may scale back
The Loonie appreciated versus its U.S. counterpart as the Bank of Canada Governor Mark Carney did not change the interest rates and held his position on raising the interest rates if the economic growth continues. The currency advanced from the lowest level in almost 12 months as it is predicted that GDP grew 2.3% at an annual rate in the
The British Pound appreciated for a second straight day versus the greenback as an report showed U.K. home-prices rose the most in one and a half year in May. House prices increased 1.1% compared to the last year; average house value reached 167,912 Pounds ($254,700) as it jumped 0.4% from April . The British currency gained 0.2% to $1.5156 as
The Japanese Yen advanced after domestic stocks fell and the report indicated that Japan's investors were sellers of external debt for the second week, spreading concern the country's unprecedented monetary policy has yet to add traction. The Yen advanced 0.3% to 100.88 versus the US Dollar and climbed 0.1% to 130.84 against the Euro.
China's shares advanced for a fourth day in a row, impacted by automakers gains, as confidence among U.S. consumers jumped and the home-price data brightened the outlook on exports to U.S. The Shanghai Composite Index climbed 0.1% to 2,234.02, while the CSI 300 index declined 0.1% to 2,642.56 at the close.
US shares dropped, showing that the Dow Jones Industrial Average will drop from a record, on concern that the Fed may start to diminish its debt-buying Policy. Standard & Poor's 500 Index futures maturing next month fell 0.6% to 1,644.7, ahead of the five-year US Government note auction. The Dow delivery slipped 0.6% to 15,288.8.
The South Korean currency reached the weakest level in seven weeks and government bonds slipped amid speculation the Fed will snap debt purchases, which have risen demand for emerging-market assets. Yields rose to a three-month high. The yield on South Korea's 2.75% government bonds that mature in March 2018 climbed to 2.85%. The Won slipped 0.5% to 1,132.92 against the
The Japanese Yen appreciated versus the greenback and the shared currency as the Bank of Japan Governor Haruhiko Kuroda stated that the financial system's stability is essential, while the Aussie slipped. The Japan's currency appreciated 0.2% to 102.17 per Dollar at 7:57 a.m. in London and also strengthened 0.2% to 131.35 per Euro. The Australian currency fell 0.7% to 95.50
European shares and German Bund prices dropped after improved US economic report spread speculation the Fed may reduce its bond-buying policy. German bond futures were at 143.39, they decreased by 43 ticks, with traders expecting unemployment and inflation report out of Germany to confirm the economic growth. The FTSE Eurofirst 300 Index, the top European shares, fell 0.5%.
European shares slipped after the Stoxx Europe 600 Index jumped the most in a period of 30 days as the U.S. economy is expected to boost and that may slow down the stimulus. The Stoxx 600 fell 1% to 305.06 as of 9:57 a.m. London time; the index is still set for 2.8% gain in May. The Stoxx 600 index
The German jobless claims increased approximately four times beating the economists' expectations in May as the Eurozone debt crisis and the cold climate have made an impact on the Germany's economy. The Europe's largest economy's unemployment level has risen for fourth month in a row; it was estimated to grow by 5,000, but it climbed by 21,000 reaching 2.96 million,
Most Asian shares advanced for the second day after data indicated US consumer confidence gained the most since 2008 and home prices rose to the highest level in seven years. The MSCI Asia Pacific Index increased 0.1% to 137.240, with about five stocks climbing for every three that dropped. US consumer confidence reached a 5-year high yesterday, the index increased
Gold fell in London after a stronger US Dollar curtailed demand for the alternative investment and on speculation the US economy is expanding. The US Dollar added 0.4% versus a six-currency basket amid speculation the Fed may reduce QE measures. Gold futures dropped 1% to $1,380.60 an ounce this morning in London.
It is expected that the four biggest banks of the U.K. will cut approximately 189,000 jobs by the end of the year 2013 and that would lead to the lowest employment level in nine years. Royal Bank of Scotland Group Plc, HSBC Holdings Plc (HSBA), Lloyds Banking Group Plc (LLOY) and Barclays Plc (BARC) are predicted to employ 606,000 people