The pair has been depreciating for a third straight trading session after an attempt to breach the major resistance level at 1.0326.
German shares erased their earlier gains, stepping down from their highest level in five years on speculation Fitch Ratings cut Italy's debt, outweighing positive data on European exports. The DAX Index tumbled 0.1% to 7,976.21 by 5:12 p.m. in Frankfurt. Six out of nine groups posted losses. Merck KGaA declined the most in the benchmark gauge, as it traded at
U.K. blue chips posted an increase after swinging between gains and losses, with the FTSE 100 Index extending its highest level in five years, mainly led by food and beverage shares. The FTSE 100 Index climbed 0.14% to 6,492.96. Six out of ten groups in the index edged higher with the telecommunication shares rising the most by 0.9%. Melrose Industries
Portugal's economy contracted at the fastest rate in the last three months of 2012, suggesting that the economy fell deeper into recession, a report released by the Statistics Portugal showed on Monday. Quarter-over-quarter, the Portuguese GDP shrank 1.8% in the Q4 following a 0.9% drop in the Q3 and a 1.0% decrease the quarter before. Annually, the economy slipped in
U.K. government bonds increased with 10-year yields slipping from its highest level in a two-week period after the Italian rating of its economy was downgraded by Fitch Ratings on Monday and investors sought the yields as a haven assets. The 10-year gilt yield dropped 0.05 percentage points, or five basis points, to 2.01% following a climb to the highest level
Sub-Saharan Africa will expand notably at a pace of 5.8% this year with the growth led by domestic demand, according to a report showed by the African Development Bank on Monday; however, the businesses should invest more to the region. The growth forecast by the AfDB is 6.2% when excluding South Africa, while the World Bank projected growth for the
According to the Paris-based Organization for Economic Cooperation and Development, the economic outlook of major industrialized economies is improving led by the world's largest economy and Japan, while the Eurozone is picking up as well. The organization's monthly leading indicator including all 33 countries of OECD advanced to a 17-month high at 100.4 in January from 100.3 the month before.
NZD/USD pair was under heavy bearish pressure during the trading session on Friday.
The beginning of a week is extremely calm, as the pair fluctuates in a 20 pips gap, symmetrically around a 125.00 benchmark.
Shares of emerging markets decreased falling from its highest level since February 20 after data showed that China's industrial production had the slowest start to a year since 2009 and as conflict between North Korea and South Korea escalated. The MSCI Emerging Markets Index dropped 0.2% to 1,063 earlier on Monday session in London following a last week's gain of
U.S. crude oil edged higher on Friday after a positive macroeconomics data from China and the U.S. increased the demand for the commodity, when the Chinese exports grew more than expected and the U.S. unemployment rate dropped to its lowest level in four years. April Light Sweet Crude Oil futures added 0.4% to $91.95 a barrel on the NYMEX.
On Monday, Copper futures were traded lower, reaching a week low during European morning trading hours, as fears over Chinese slowdown, which is the biggest consumer of copper, determined investor sentiment. On the Comex, May delivery futures were traded at $3.485 per pound, which was a 0.7% daily fall.
Producer prices in Norway fell faster than the month before in February mainly due to a sharp fall of prices within natural gas and oil extraction and a drop of manufacturing, electricity, gas and steam prices, the Statistics Norway unveiled in report on Monday. On an annual basis, the whole market producer price index recorded a 2.8% decrease in February
The Greek economy performance declined less than preliminary estimated in the last three month of 2012 as a decrease of external trade deficit positively contributed to the GDP, data released by the Hellenic Statistical Authority showed on Monday. Year-on-year, the economy's output fell 5.7% in the Q4 compared to a 6% drop originally forecast, following a 6.7% contraction in the
Hong Kong blue chips erased their earlier gains amid worse-than-expected data on Chinese economy and declining shares of the food company Want Want China Holdings. The Hang Seng index dropped 0.1% to 23,064.93 after rallying 0.7% earlier in the session on optimism about the U.S. economy. Five out of nine sectors inched lower. Losses in consumer goods sector were triggered
Credit rating for Italy was downgraded by Fitch Ratings on Friday due to an unclear situation after last month's election that may bring further complications to already unfavorable economic situation. The country's long-term foreign and local currency Issuer Default Ratings (IDR) were lowered by the rating agency from ‘A-‘ to ‘BBB+' with the ‘negative' Long-term IDRs outlook.
China's inflation notably increased in the month of February hitting its ten-month high, at the same time producer prices dropped suggesting a slower recovery of the country's economy, the National Bureau of Statistics reported on Saturday. The report showed a strong advance of the consumer price inflation by 3.2% in February following a 2.0% increase the month before.
The Stoxx 600 Index lost 0.2% to 294.92 points in early London trading session on Monday. The index is still 5.5% up from the beginning of the year, as U.S. governors avoided the fiscal cliff, but today Fitch Ratings agency downgraded Italy's rating to BBB+. The main reason for the downgrade was recent elections and current political paralysis, which threatens
The Swiss Market Index was lower by 0.1% to 7,739.95 in early Zurich trading session on Monday. The index consolidates after a 1.9% gain during last week, reaching the highest point since may 2008. Market traded on better data in the U.S. labor market and a downgrade in Italy's rating to BBB+ with negative outlook by Fitch rating agency.
The Indian Rupee slipped by 0.4% to 54.4950 per U.S. Dollar in early Mumbai trading session on Monday. That was the biggest loss since 1st of March, as markets were concerned that slowing capital inflows will make difficult to finance the domestic current-account deficit, which is currently at the record level.
On Monday, Italian government bonds were traded lower following Fitch's downgrade of the country's sovereign debt credit rating. Yields on 10-year bonds added five basis points and were traded with a yield of 4.65% at 8:35 a.m. in London. The German 10-year bunds, on the contrary, experienced a decline in yields, which fell to 1.50% from 1.52%.
Fitch credit agency improved Thailand's credit rating to +BBB with a stable perspective, indicating confidence in Prime Minister's skills to maintain a social stability. The rating was raised on March 8 bringing it in the line with other credit agencies Standard & Poor's and Moody's. Agency said that Thailand upgraded risk to policy predictability and did not face any legal
Latest data showed on Monday that the Italian economy continued to experience a decline during the last quarter of 2012, which was in line with first estimates. The Italian gross domestic product fell by 0.9% on a quarterly basis, compared to a fall of 0.2% in the preceding quarter of 2012.
The Won edged lower by 0.9% to 1,099.85 per U.S. Dollar in the morning of trading session in Seoul on Monday. That was the biggest decrease since 28th of January. The South Korean currency slumped due to geopolitical risks. North Korea announced about incentives of Korea's reunification, adding pressure to sell the Won and enter a safer asset.