The Reserve Bank of Australia revealed on Thursday that Australian private sector credit gained 0.2% in February, which was the same as in the previous month but lower than analyst expectations of 0.3%. Year-over-year, private sector credit inched up by 3.4%, disappointing expectations of a 3.5% increase.
The Melbourne Institute reported on Thursday that Australian inflation gained in March. Month-over-month, Australian prices inched up by 0.2%, which was the same increase as in the preceding month. Year-over-year, inflation hit a level of 2.1%, which was the lowest for eight months.
Farm commodities apart from coffee jumped on Wednesday in a cautious trading ahead of the USDA report due to on Thursday. Unfavorable weather in the US as well as logistical problems in Brazil sent farm commodities higher. Wheat climbed as freezing temperatures in the US key growing regions are slowing early planting. However, gains were limited by speculation that market players
Energy futures were bullish on Wednesday despite larger-than-expected increase in the US crude oil inventories last week. Moreover, weak consumer confidence in the Eurozone coupled with Italian political woes added pressure on the commodity sector. Crude and Brent oil gained despite bearish EIA weekly supply report. Crude oil inventories in the US rose 3.3 million barrels last week compared to
Base metals apart from copper were bullish on Wednesday on weaker US Dollar and soft demand for growth sensitive assets amid political instability in Italy. At the same time, mixed data from the US as well as high inventories at the LME and SHFE created pressure on industrial metals. Aluminum traded higher as cancelled warrants at the LME increased, signaling an
Precious metals except for silver advanced on Wednesday as ongoing political instability in Italy boosted safe-haven appeal of the commodity sector. Weaker US Dollar also supported the commodity group. Meanwhile, investors awaited the key data releases from the US due on Thursday. Gold gained on political uncertainty in Italy. However, the upswing was capped by soft investment demand. Holdings in ETPs
Japan retail sales fell more than expected in February, declining by 2.3% from a year earlier following a 1.1% drop the previous month, according to the Ministry of Economy, Trade and Industry. In contrast, most analysts had predicted a 1.2% dip. Large-scale retailers experienced even bigger losses, with sales plummeting 3.7% from the previous year after a 3.5% fall in
Raw sugar futures traded in New York decreased to its weakest level in five weeks on Wednesday, while its futures traded in London dropped amid speculation that Brazil's new crop will build up inventories of the commodity. May raw sugar futures slipped 0.2% to 17.75 cents a pound on New York's ICE the lowest since February 15, also it has
The British Sterling appreciated to its highest level in six weeks against the Euro as a demand for the U.K. currency as a haven asset was boosted by the funding crisis in Cyprus where lawmakers decided to agree with measures designed by the Eurozone in order to get the rescue financial package. The Pound advanced by 0.3% to 84.62 pence
Equities in Europe tumbled on Wednesday erasing the previous gains amid stake sales of private-equity owned company TDC and two companies owned by the French and Belgium government, Safran SA and BNP Paribas SA. The European benchmark Stoxx Europe 600 Index declined as much as 0.6% to 292.02 earlier on Wednesday London session after it rose by 0.4% on yesterday.
Business confidence in New Zealand slightly slowed down in the month of March, when the drop was caused by drought which hit the country's North Island and some parts of the South Island, a business outlook survey revealed by the ANZ Bank showed on Wednesday. The ANZ Business Confidence Index eased from 34.6% to 39.4% in March.
Consumer price inflation in Canada advanced in the month of February led by an increase of prices in transportation sector, a data unveiled by the Statistics Canada showed on Wednesday. The data said that the Consumer Price Index accelerated by 1.2% on an annual basis in February after it jumped 0.5% the month before, while on a sequential basis the
German stocks are trading lower on Wednesday despite positive data from the domestic economy. Only five out of 30 companies included in the gauge posted gains and one out of nine industries moved higher. The DAX retreated 1.3%, or 95.27 points, to 7,779. Fresenius SE & Co KGaA, a medical equipment company, surged 1.2% to EUR97.97, pushing the health care
U.K. equities declined on Wednesday as investors were looking for news from U.S. housing market. The FTSE 100 Index lost 0.6%, or 33.16 points, to 6,360.54, close to its highest value since 2008. Only two out of ten industries included in the index increased. Basic materials and health care industries added 0.5% and 0.3%, respectively. TUI Travel Plc surged 2.8%
Hong Kong shares rose on Wednesday on upbeat numbers from the U.S.. The U.S. home prices advanced the most since 2006, while durable goods orders climbed more-than-expected last month. The Hang Seng Index increased for a third consecutive day, adding 0.7%, or 153.74 points, to 22,464.82. All sectors included in the gauge posted gains, with industrials and consumer services soaring
Italian government bonds declined on Wednesday amid rising yields on a debt auction and Democratic Party leader comments about inability to form a broad coalition. The yield on benchmark 10-year bonds added 16 basis points, reaching a level of 4.73% by 10:45 a.m. in London. Earlier, yields reached 4.74%, which was the highest level since March 18.
On Wednesday, gold prices declined for the fourth consecutive day, following optimistic signs about the US economy, which curbed the demand for the precious metal. Sport gold prices declined by 0.3% to trade at $1,594.84 per troy ounce at 9:38 a.m. London time, while June delivery futures lost 0.1% and were traded at $1,595 on the Comex.
Statistics Portugal revealed on Wednesday that the country's economic sentiment increased for the third month in a row. The index of economic confidence grew to minus 3.9 in March compared to a reading of minus 4.1 in the preceding month. The January's reading was minus 4.3 points.
The statistical office Istat revealed on Wednesday that Italian retail sales decreased for the seventh month in a row. Year-over-year, retail sales experienced a 3% fall in January compared to a reading of minus 3.4% in the preceding month. The January's decline was in line with economists' forecasts. Month-over-month, retail sales lost 0.5%.
A survey by the European Commission reported on Wednesday that Eurozone economic confidence declined in March. The decrease was driven by declines in all sectors of business. Consumer confidence, however, remained widely stable. The index of economic sentiment declined to 90 from 91.1 in preceding month below expectations of 90.5.
Japanese shares inched up in choppy session on Wednesday as buyers of many shares were no longer eligible to get this year's dividends. Tuesday was the deadline for share-buyers to be able to get dividends for this financial year. At the same time, Japan's equities found support on the strong performance of the US stock market. The Nikkei 225 Index
US blue chips rallied on Tuesday amid optimism over the US economy and improved market sentiment after Cyprus reached an agreement with its international lenders. US home prices rose last month, while durable goods orders came better-than-expected last. However, the upswing was limited as US new home sales and consumer confidence declined more than forecast. The Dow Jones Industrial Average
The Wall Street closed in green area on Tuesday following positive headlines from the US real estate and manufacturing sectors. The overall durable goods orders climbed 5.7% in February compared to a forecast of a 3.8% increase. Meanwhile, home prices continued to improve last month. Adding to gains, US equities drew strength from eased worries over Cyprus bailout. The S&P
The Federal Statistical Office reported on Wednesday that German import prices fell last month, which was a second decrease in a row. Year-over-year, import prices declined by 1.6 in February, which was a steeper decline than the January's reading of minus 0.8%. Month-over-month, import prices added 0.3% in February, compared to a gain of 0.1% in January.