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.
On Monday, futures for gold were traded higher during European morning trading session, after reassessment of US non-farm payroll data, revealing that it was not sufficient to change Fed's monetary policy. On the Comex, April delivery futures for gold were traded at $1,581.20 per troy ounce, which was a 0.3% daily gain.
The Federal Statistical Office revealed on Monday that exports of Germany added 1.4% on a monthly basis in January, which was more than analysts' expectations of 0.5%. Imports added 3.3%, compared to expectations of 0.7%. Year-over-year, exports increased by 3.1%, while imports gained 2.9% in January.
Statistical office Insee revealed on Monday that French industrial production fell more than expected during the first month of the year. Production declined by 3.5% on an annual basis in January, while analysts expected a more modest decrease of 2.8%. The figure of growth for the preceding month was minus 1.9%.
Statistics Denmark revealed on Monday that inflation of consumer prices experienced a decline in February, which was a third consecutive slowdown. Consumer price inflation fell to 1.2% on seasonally adjusted basis last month, compared to a figure of 1.3% in January. Month-over-month, the inflation was also equal to 1.2% in February.
The Federal Statistical Office reported on Monday that retail sales experienced a severe slowdown in its growth rate in January. Retail sales added 1.9% on a year-over-year inflation adjusted basis in January, while the figure for December experienced a gain of 4.7% on a yearly basis. Turnover in retail sector declined by 0.5% on a seasonally adjusted basis.
The Bank of Japan reported on Monday that M2 money stock gained 2.9% on year-over-year basis in February and was equal to 828.2 trillion Yen in absolute terms. The increase was higher than anticipated by analysts, which expected a slightly lower increase of 2.7%. Japanese broad money gained 2.4%, which was also more than expected.
On Monday, a board member of the Japanese Central Bank said that it is possible for Japan to achieve a target inflation rate of 2%, in case the bank continues its powerful monetary easing with measures that are targeted to boost the economy. He also said that the Japanese economy is prone to recover soon as other major economies are
U.S. shares rose on Friday as jobless-benefit claims dropped to a six-week low and investors look forward to further stimulus measures. The S&P 500 Index advanced 0.45% to 1,551.18, less than 1% below its highest value of 1,565.15 in October 2007. All the sectors included in the gauge rallied on Friday. The best performing sectors were consumer services and basic
Japanese stocks climbed, sending the Nikkei 225 Stock Average to its longest daily winning streak in more than three years on better-than-expected U.S. employment data and weakening Yen that bolstered the profit outlook for exporting companies. The Nikkei 225 Index surged 0.5% to 12,349.05 on growing optimism that the new nominee for BOJ will halt deflation that has lasted for
China announced that industrial production rose 9.9% and retail sales advanced by 12.3% in the first two months, according to a government report on March 9. However, that was the weakest performance of production data since 2009 and retail sales growth cooled. Economists say that China's economy will face a substantial improvement in demand from the U.S., which just announced a fall
The MSCI Asia Pacific Index rose 0.7% to 136.56 points by midday session in Tokyo on Monday. That was the highest index's value since 2nd of August, 2011. Investors in Asia were trading on positive U.S. job data, which beat economists' estimation and indicated that the biggest world economy is doing well.
Farm commodities except for sugar were bullish on Friday after closely-watched USDA monthly report on the US and world's grain supplies. Moreover, deteriorating weather conditions in the US Great Plains lifted wheat prices. Coffee continued to draw strength from worries over spreading coffee leaf rust in Central America. Wheat inched up as GFS weather model continued to show lower
Energy futures were mixed on Friday amid upbeat labour figures from the US and rising China's exports. However, worries over situation in Italy coupled with strong US Dollar and larger-than-expected increase in the US crude oil inventories put notable pressure on the commodity sector. Crude oil finished in green, being supported by hopes that recovery of the US economy will result
Industrial metals apart from nickel moved lower on Friday despite positive US numbers. The jobless rate in the US dropped to a five-year low of 7.7% in February. At the same time, high LME stocks and solid greenback weighed on the commodity group. Aluminum sagged 0.71% despite reports that China may have increased its buying for state stockpiles. Meanwhile, the lightweight
Precious metals ended Friday's session in the positive territory as investors considered that the pace of the US recovery is not fast enough for the Fed to halt its easing programme. However, broadly higher US Dollar as well as persistent inflationary pressure in China cut gains of the commodity complex. Gold was steady amid hopes the Fed will continue its bond-purchasing
West Texas Intermediate oil declined from its highest level in more than a one-week period on Monday after a data showed an improvement of Saudi Arabia output and as China's industrial production decreased. April WTI futures dropped 35 cents to $91.60 a barrel on New York Mercantile Exchange and were at $91.74 at 2.02 p.m. Singapore time.
The Australian Dollar slipped 0.2% to $1.0221 in the end of Sydney trading session on Monday and extended a 0.3% decline from the end of previous week. Investors traded with a negative sentiment, since China announced the slowest start of industrial output since 2009, dimming the outlook of South Pacific countries' commodity exports.
Core machinery orders in Japan unexpectedly fell by 13.1% on a monthly basis in the month of January; it was the first fall of core orders in more than a four-month period, the Cabinet Office reported on Monday. Year-on-year, core orders dropped 9.7% in January, while economists' expected a drop of 2.0% following a 2.8% increase in December 2012.