Copper traded in London increased on Wednesday after it fell the most in two weeks as traders weighed weaker economic growth in China, the world's largest user, and improving U.S. business confidence and economic outlook. Copper for delivery in August jumped 0.7% to $7,295 a metric ton on the London Metal Exchange and was traded at $7,278.50 as of 9:53
Asian stocks advanced on Wednesday led by Japanese shares increasing to the strongest level since December 2007 and as benchmark 10-year yields of the country's bonds gained the most in more than a year. The MSCI Asia Pacific Index rose by 0.8% as of 1:12 p.m. Tokyo time, while the benchmark government 10-year bonds yielded at 0.92%.
West Texas Intermediate oil was traded close to its lowest level in almost a 14-day period on Wednesday amid signs of increasing inventories as crude stockpiles advanced 1.1 million barrels last week. WTI for delivery next month was traded 11 cents higher at $94.32 a barrel as of 12:42 p.m. on the NYMEX after the prices fell 96 cents yesterday
Gold fluctuated on Wednesday moving up slightly during Asian trading hours and reversing during trading hours in Europe and U.S. as buyers were lured by a 3.3% fall recorded in last four sessions and by further outflows from ETPs. Bullion for immediate delivery was little changed at $1,425.79 as of 12:33 p.m. in Singapore, while June gold futures were at
Total number of unemployed people in South Korea decreased in April as the seasonally adjusted unemployment rate fell from 3.2% in March to 3.1% recorded in the following month, a report unveiled by Statistics Korea showed on Wednesday. The report also showed that the number of jobless persons dropped from 883,000 in March to 825,000 in April.
Consumer confidence in Japan surprisingly declined in April, according to a report revealed by the Cabinet office on Wednesday. The report showed that the seasonally adjusted consumer confidence index dropped marginally from 44.8% in March to a level of 44.5% in April compared to a 45.5 preliminary estimated, while the indicator of income growth slipped from 41.6 to 41.5 in
U.S. import prices matched economists' expectation in April, when they dropped by 0.5% on the month following a 0.2% decline recorded in March, the latest data published by Labor Department showed on Tuesday. According to data, the main impact had fuel import prices, which slipped 1.7% in April after falling by 0.6% in the previous month.
Performance of French economy remained unchanged in the first three month of 2013 from the quarter before as the country fell into recession, a report released by the statistical office Insee revealed on Wednesday. France's gross domestic product dropped 0.2% on a sequential basis in the Q1 following a 0.2% contraction recorded in the Q4.
Motor vehicle sales in Australia declined in April largely due to a notable 9.3% decrease in sales in Tasmania, a 7.7% fall recorded by Queensland and a 6.4% slip in Australian Capital Territory, the Australia Bureau of Statistics reported on Wednesday. The total number of new motor vehicle sales fell 1.6% on a monthly basis in April standing at 93,423.
The composite leading index of the Organization for Economic Cooperation and Development area grew further in March suggesting that the growth is gaining momentum, a report released by the OECD showed on Wednesday. The composite leading index advanced by 0.1% on a monthly basis to 100.5 in March after it jumped by 0.12% in February and January.
Copper traded in London dropped the most in almost two weeks on Tuesday on signs that economic performance of China, the world's largest user of the metal, is weakening as the outlook for growth was reduced by JPMorgan Chase & Co. August copper futures slipped by 2.3% to $7,241 a metric ton as of 11:32 a.m. on the London Metal
French current account balance came in deficit in March largely due to an improvement in merchandise trade, a data revealed by the Bank of France showed on Tuesday. According to data current account shortfall decreased from 5 billion euros recorded in February to 2.9 billion euros in March, while the goods trade account showed a deficit of 4.6 billion euros
Investor confidence in Germany grew at a slower pace than preliminary estimated in May as continued economic slump in the Eurozone weighed on sentiment, a survey by the Centre For European Economic Research (ZEW) unveiled on Tuesday. The ZEW economic sentiment indicator added from 36.3 in April to 36.4 in May, while it was forecast to grow to 40.
Industrial output in the 17-nation bloc increased more than forecast in March mainly due to a 3.8% growth of energy production and a 1.2% increase in capital goods, the latest report released by the statistical office Eurostat showed on Tuesday. According to the report industrial production rose 1% a sequential basis in March after it expanded by 0.3% in February.
European shares decreased on Tuesday before reports showed that German investor confidence rose in May and industrial production output in the 17-nation bloc gained 0.5% in March. The benchmark Stoxx Europe 600 Index fell by 0.2% to 303.8 as of 8:32 a.m. London time after it increased to the highest figure since June 2008 last week as a reaction on
U.S. treasuries were little changed on Tuesday after the Federal Reserve Bank of Philadelphia President Charles Plosser said that the Fed should reduce its bond purchasing program as early as the next meeting. The benchmark 10-year bonds yielded at 1.91%, when it declined one basis point as of 8:55 a.m. London time after the rates rose to 1.94% yesterday, the
West Texas Intermediate oil fluctuated on Tuesday, while it was traded close to its weakest level in more than a week before a report showed that stockpiles in the U.S. increased to the highest level since 1931. June WTI futures were traded 12 cents higher at $95.29 a barrel on the NYMEX as of 3:38 p.m. in Singapore after they
Japan's domestic corporate goods prices moved up in the month of April beating a forecast showing unchanged level in prices, the latest data unveiled by the Bank of Japan showed on Tuesday. According to data, an index measuring domestic corporate goods prices climbed 0.3% in April compared to a forecast of an 0.1% gain, while the total number of domestic
Italy's harmonized inflation eased in April with the harmonized price index of consumer goods (HICP) gaining 1.3% on an annual basis in April, less than a 1.8% advance recorded in the month before, the statistical office Istat reported on Tuesday. The report also showed that consumer price index fell from 1.6% in March to 1.1% in April, while it was
Property prices in the United Kingdom recorded a positive result in April with the gauge measuring house prices turning into positive reading for the first time since June 2010, the Royal Institution of Chartered Surveyors reported on Tuesday. The house price balance increased from -2 in March to 1 in April amid increasing demand for housing.
EU harmonized inflation in Germany eased down in April matching economists' projections, when the harmonized price index of consumer prices (HICP) slowed down from 1.8% in March to 1.1% in April, the Federal Statistics reported on Tuesday. The report also showed that consumer price index fell 0.5% in April after it rose 0.5% in the month before.
Wholesale price in Germany decreased in April falling for the first time since November 2009, according to a report released by the Federal Statistical Office on Tuesday. The report showed that wholesale prices fell by 0.4% year-on-year in April reversing a 0.3% gain recorded in March, however, wholesale prices were expected to drop by 0.6%.
Inflation measured by harmonized price index in Spain slowed down notably in March mainly due to a significant decline of communication costs, which fell by 4% on an annual basis, the latest data released by the statistical office INE showed on Tuesday. The harmonized price index dropped to 1.5% after it recorded 2.6% in March, while consumer price index slowed
Retail sales in the U.S. recorded a surprisingly modest increase in April mainly due to a 1.0% increase in motor vehicle and parts dealer's sales following a 0.6% drop in the previous month. A report released by the Commerce Department unveiled on Monday. The report showed that retail sales moved up by 0.1% in April after it fell 0.5% in