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.
An inquiry by GfK revealed on Wednesday that confidence of German consumers remained unchanged in April. The April reading of consumer confidence index stayed at 5.9, which was the same as in March. The index of economics expectations, however, added 3.1 points, which was a growth for the third consecutive month.
The 17-nation currency is decreasing against its major counterpart over the next 2 ½ years as the Eurozone's policy is weakening the currency in order to boost the economic performance, according to Morgan Stanley, when the Euro has dropped 2.6% against the U.S. dollar this year. The sharred currency was little changed at $1.2855 on Wednesday after falling to its
The statistical office Insee reported on Wednesday that the French economy fell by 0.3% in the last quarter of 2012, which was in line with the initial estimate. The figure for the preceding quarter was minus 0.2%. Year-over-year, French gross domestic product remained unchanged, following a 1.7% growth in 2011.
The statistical office INE revealed on Wednesday that Spanish EU harmonized inflation declined to 2.6% this month, compared to a figure of 2.9% in February. Economists expected a reading of 2.7%. Retail sales dropped 10.6% on a yearly basis, which exceeded an anticipated level of 10% decline.
Statistics Sweden revealed on Wednesday that Swedish retail sales grew faster in February, exceeding the rate of growth expected by the analysts. Year-over-year, retail sales experienced a working-day adjusted growth of 3.5%, which was significantly faster than a revised down figure of 1.8% for the preceding month.
The Office for National Statistics reported on Wednesday that the British economy lost 0.3% during the last quarter of the last year, which was unrevised from the first estimate. The contraction followed a growth of 0.9% in the preceding quarter and decrease of 0.4% in Q2. The ONS comments that the decline was a ‘fall-back' effect after the Olympics.
The so-called Loonie advanced for the fifth successive day against U.S. Dollar and most of its counterparts after a report showed that oil, the nation's largest export, recorded the highest level in one month increasing the demand for the currency. The Canadian Dollar appreciated 0.5% to C$1.0161 per U.S. Dollar, while one Canadian Dollar was 98.42 U.S. cents.
The Japanese currency declined versus majority of its counterparts on Wednesday after investors turned their expectations to further stimulus measures by the Bank of Japan's Governor Haruhiko Kuroda in order to fight low inflation in the country. The Yen depreciated 0.3% to 94.71 per U.S. Dollar earlier on Wednesday London session after it slipped 0.3% yesterday.
Emergin-market shares advanced for the third consecutive day on Wednesday mainly due to an improvement of financial copanies after Chinese banks showed favorable results in bad-loan ratios and as U.S. data showed an increase of durable goods orders yesterday. The MSCI Emerging Market Index added 0.3% to 1,031.22 recording its highest closing level since March 15
West Texas Intermediate oil was little changed on Wednesday traded close to its highest level in five weeks after a report said that durable goods orders and house prices advanced in the world's biggest consumer of the commodity. May WTI futures went down by 19 cents to $96.15 a barrel on NYMEX after it rose $1.53 to $96.34 yesterday.
Rural commodities were mixed on Tuesday ahead of the USDA supply report due on March 28. Logistics problems in Brazil as well as unfavorable weather in Argentina and US Great Plains also were supportive for farm commodities. However, talks over bumper Brazilian crops pushed the commodity sector lower. Wheat advanced despite speculation that investors are closing bets ahead of the USDA
Energy futures rallied on Tuesday on optimism over the US economy. However, forecasts that US inventories rose last week weighed on the commodity group. Adding pressure, analysts expect Saudi Arabia to increase output in the next quarter. Crude and Brent oil gained ahead of the EIA weekly supply report due on Wednesday. Experts expect the report to show an increase in
Industrial metals except for copper declined on Tuesday amid mixed signals from the US economy and elevated inventories at the LME and SHFE. Waning optimism over Cyrus bank deal also weighed on base metals. Aluminum finished lower as inventories remained near a record high. Stocks at LME rose 56,950 last week, while those at SHFE reached a record of 505,371
Precious metals apart from palladium moved lower on Tuesday amid weaker US Dollar and fading support from instability in Cyprus. Meanwhile, speculation that US economic recovery will mean an end to the Fed easing measures weighed on the commodity sector. Gold was bearish as Cyprus bailout deal continued to dampen safe-haven appeal of the precious metal. Sending the yellow metal lower,
Japanese equities declined on Tuesday amid worries that Cyprus international bailout plan will evoke losses on bank deposits in other European countries. In addition, exporters pared losses, as the Yen depreciated against its major peers after BOJ governor announced further steps for monetary easing. The Nikkei 225 Index dropped 0.6% to 12,471.62. Konica Minolta Holdings Inc., a lens maker that
U.S. home prices advanced at the fasted rate since June 2006 matching economists' expectations in January, a report released by the Standard and Poor's unveiled on Tuesday. The report showed that the S&P/Case-Shiller 20-City Composite Home Price Index gained 8.1% annually in the first month of 2013 compared to a 6.8% jump in December 2012.
Business confidence among small scale companies in Japan rose for the fourth month in a row in March with the small business confidence index growing by 3.7 points to 49.7, a data released by the Shoko Chukin Bank showed on Tuesday. The report said that confidence in manufacturing sector jumped by 3.5 points to 48.3 and in non-manufacturing sector it
U.S. manufacturing sector improved in February as new orders for durable goods advanced by more than preliminary forecast on the month cause by the bounce- back of transportation sector orders, the Commerce Department reported on Tuesday. U.S. durable goods orders increased 5.7% in February after it dropped 3.8% the month before compared to a 3.5% gain initially estimated.
Hong Kong equities were up on Tuesday as better-than-expected corporate earnings offset rising concerns over Cyprus bank crisis. The Hang Seng benchmark Index advanced 0.3%, or 59.93 points, to 22,311.08. Six out of nine groups in the gauge edged higher. Henderson Land, Hong Kong's property developer, rallied 5.5% to HK$52.75 after releasing its year-on-year profit data that was 28% higher
Coffee futures traded in London decreased and those traded in New York were little changed on Tuesday giving a sign that world supplies of the commodity will be sufficient on rising shipments from Vietnam and adequate Brazil's output. May Robusta coffee futures traded on NYSE declined 0.6% to $2,106 a ton earlier on Tuesday London session, while Arabica coffee for
Gold futures traded in London decreased for the third straight day on Tuesday amid speculations that the new Cyprus bailout plan will curb the demand for the metal as a wealth protection. March gold futures dropped 0.5% to $1,596.43 earlier on Tuesday in London, while gold for delivery in June slipped 0.6% to $1,597.30 on New York's Comex.
U.S. Treasuries fell on Tuesday pushing the benchmark 10-year yields close to its highest level in eleven months before the nation is ready to sell two-year notes of a total value of $35 billion today in the first of three auctions this week totalling $99 billion. 10-year yields added 0.01 percentage point to 1.94% earlier on Tuesday in New York.