Initial claims for unemployment benefits in the U.S. decreased at a faster-than-expected pace in the week ended on May 18, the latest report released by the Labor Department unveiled on Thursday. According to the report, first-time jobless claims fell by 23,000 dropping to 340,000 to a level of 363,000 recorded in the previous week.
The British Pound dropped on Friday and was set to complete a third weekly loss versus the U.S. Dollar as investors awaited a report published by the British Bankers' Association showing that mortgage approvals increased in April. The Sterling was traded at $1.5096 by 7:37 a.m. London time following a yesterday's slide to $1.5014, the least since March 14.
Indian currency is heading for its third weekly drop on Friday after the Federal Reserve Chairman Ben Bernanke signaled less stimulus measures fueling concerns that emerging-market fund flows will be reduced. The India's Rupee depreciated by 1.5% this week and was traded 0.3% lower at 55.75 per U.S. Dollar at 10:18 a.m. Mumbai time after it touched a level of
Rubber bounced back from the steepest drop in a month on Friday as the Japanese Yen continued to drop against the U.S. Dollar increasing demand for yen-denominated futures. Rubber for delivery in October was traded 1% higher at 277.7 yen per kilogram, or $2,711 a metric ton, and was at 275.2 yen as of 10:51 a.m. on the Tokyo Commodity
Copper jumped on Friday heading for a weekly increase amid concerns that Freeport-McMoRan Cooper & Gold Inc.'s accident at its Indonesian project, the world's second largest mine, may reduce supply as the U.S. economy showing signs of recovery. Copper for August delivery climbed by 0.7% to $7,352.25 a metric ton and was traded at $7,347.50 by 11:16 a.m. Seoul time.
West Texas Intermediate oil declined for the fourth straight session on Friday completing the largest streak of drops in more than a month amid signs of global economic slow-down and as U.S. fuel supplies increased. WTI for July settlement slipped 49 cents to $93.76 a barrel on the NYMEX and was traded at $93.85 by 3:26 p.m. in Sydney.
Gold swung between gains and losses on Friday heading for the best advance in a week amid speculation that the Federal Reserve maintains its record bond-purchasing programme. Bullion for delivery in May increased by 0.3% to $1,394.80 an ounce as of 11:15 a.m. Singapore time following an earlier drop of 0.3% and it has risen by 2.6% this week.
European shares increased on Friday signaling that the regional benchmark index will rebound from the steepest fall in ten months before a report showed that durable-goods orders in the U.S. rose in April. Euro Stoxx 50 Index futures for June settlement advanced by 0.4% to 2,784 as of 7:03 a.m. London time after the index dropped the most since July
German government bunds fluctuated on Friday as investors awaited a report showing that business confidence of the largest economy in the 17-nation bloc ended its two-month fall in May. Germany's benchmark 10-year yields were traded at 1.44% as of 7:13 a.m. in London and the rates have advanced by eleven basis points this week.
The South Korean Won was lower by 1% this week and was traded at 1,127.82 per U.S. Dollar in the morning of Seoul trading session on Friday. The currency is ahead to the third negative weekly performance and the longest losing strike since period ending 22nd of March. Investors are concerned about the Fed exit from monetary easing programme, which would damage
The Shanghai Composite Index advanced 0.5% so far today, recovering from the biggest drop in a month yesterday. The gain was lead by a surge in technology and health-care stocks while property developers' shares prices decreased further. The fall in stock prices yesterday was caused by contracting Chinese manufacturing and bad sentiment, which came after yesterday's dip in Japanese stocks.
The Peso lost 1.1% this week to 41.635 per U.S. Dollar by midday trading session in Manila on Friday. The Peso made the biggest weekly drop in nine months, as some investors cashed out some profit pushing stocks lower. Generally, traders are concerned about the Federal Reserve monetary easing programme, as a suspension of it would possibly lead to capital outflows from emerging markets, including Philippine.
Asian stocks swung between gains and losses on Friday as Australian banks decreased and as the Japanese currency increased after the Bank of Japan Governor Haruhiko Kuroda said the central bank had announced sufficient stimulus. The MSCI Asia Pacific Index fell by 0.3% to 138.31 by 3:10 p.m. Tokyo time and it is set to complete a fall of 2.9%
Emerging-market shares advanced on Friday pushing the regional benchmark index up from the steepest decline in a 10-month period as consumer-discretionary and technology-sector companies gained. The MSCI Emerging Market Index added 0.2% to 1,027.96 at 1:50 p.m. Hong Kong time after the index fell by 2.1% yesterday as China's manufacturing contracted.
Soybeans continued its rally on Friday heading for a fourth weekly gain, the longest run since February, as China's demand accelerated and inventories in U.S. declined. July Soybeans futures decreased by 0.3% to $15.0325 a bushel on the Chicago Board of Trade as of 2:22 p.m. Singapore time and are set to rise by 3.8% this week.
German consumer sentiment will increase to its highest value since September 2007, according to GfK AG, a market research company. It said that the measure will jump to 6.5 in June, compared to 6.2 in May, while experts predicted no change. The surge in the gauge is caused by increased consumer spending, higher employment and rising wages in the country.
The Japanese Yen was higher by 0.8% to 101.23 per U.S. Dollar in the second part of Tokyo trading session on Friday. The Yen strengthened against the major counterparts as stocks reversed earlier gains and the Bank of Japan Governor said that the central bank made a sufficient monetary easing programme. The pair might be affected by U.S. durable goods
The Canadian Dollar, also known as the loonie, was higher by 0.6% to 1.0305 per U.S. Dollar in the evening of Toronto trading session on Thursday. The loonie strengthened from a one-year bottom amid speculation that the Federal Reserve will curb its monetary stimulus, as the biggest world's economy signals about an improving situation.
The Australian Dollar slipped by 0.6% to 96.92 per U.S. Dollar in the morning of Sydney trading session on Friday. The currency touched a 95.94 level yesterday, which was the weakest since 1st of June. Even analysts say that U.S. durable goods data will be better in April adding positive sentiments about a recovery in the biggest world's economy, but investors
Jereon Dijsselbloem said that the time period for Greece to meet its fiscal targets might be extended if necessary. He added that the process of fiscal consolidation in Greece is satisfactory, however, the exact characteristics of debt relief will be decided after the official assessment of the country's economy. Estimated public debt in Greece is 173% of GDP this year,
The Minister for Economic Revitalization of Japan said that the plunge in Japanese share prices should not be a concern as the economy is consistently recovering. The comment came today after Nikkei 225 and Topix indexes fell 7.3% and 6.9% respectively. Japan's officials said that a contraction in China's manufacturing measure could be responsible for a sell-off of equities.
Global stock market indexes fell sharply today as Ben Bernanke signaled that the Fed might scale back its monetary easing and as China's economy unexpectedly slowed. Japan's Nikkei index dipped 7.3%, Europe's FTSEurofirst 300 decreased 1.9%, while France's CAC-40 and Germany's DAX dropped approximately 2.5%.
French private sector continued to decline in May suggesting that the nation's private sector economy is still struggling, a report published by the Markit Economics showed on Thursday. The composite output index maintained at 44.3 in May, while the service sector Purchasing Managers' Index recorded 44.3, unchanged from the month before, and the manufacturing PMI advanced from 44.4 to 45.5
German private sector activity rebounded from the lowest level in 5 months in May, but still stayed below neutral level, when the composite output index grew from 49.2 recorded in April to 49.9 in May, the Markit Economics reported on Thursday. The report also showed that activity index of service sector climbed from 49.6 in April to 49.8 in May.