The loonie advanced to a tree-month high versus the greenback as the U.S. House launching a deficit-reduction plan to avert automatic tax increase and prevent the threat of the U.S. economy's recession. The Canadian Dollar strengthened versus the majority of its main counterparts after the approvement of budget deal by the U.S. House and climbed 0.9% to 98.49 cents per greenback.
China's non-manufacturing sector continued to improve in December, adding to signs of a rebound in the world's second largest economy, an official survey showed Thursday.
The new 113th U.S. Congress, which convenes on Thursday, is set to take a fresh crack at a number of old, and highly contentious, issues, such as gun control, immigration, the record debt, tax reform and the farm bill.
President Anibal Cavaco Silva called for urgent action to halt the "recessionary spiral", warning Europe's leaders that the current course had become "socially unsustainable".
The Yen and greenback soared against the shared currency after investors were interested whether U.S. lawmakers could reach an agreement about the nation's debt limit increase. The Japanese currency rose 0.3% to 114.81 per Euro and it remained steady at 87.32 per greenback, while the U.S. Dollar loomed 0.3% to $1.3148 per shared currency.
Oil tumbled amid speculation that its increase to a three-month high level might have been excessive. WTI for February settlement fell to $92.49 a barrel, down 63 cents, and futures soared 1.4% to $93.12 a barrel, the most since September 18, while Brent oil for February delivery dropped 65 cents, or 0.6%, to $111.82 a barrel and New York crude
Farm commodities were mixed on Wednesday, with softs ending higher and grains sliding. Improved risk appetite after the US lawmakers agreed on fiscal reform supported rural commodities. However, signs of weak demand for US exports, firm US Dollar and upcoming index funds' rebalancing continued to create pressure on grains.Wheat tanked to a six-month low on preparation for index funds sales
U.S. blue chips rallied on Wednesday, as a budget deal was reached to halt the so-called "fiscal cliff" effect with automatic tax increases and spending cuts that would push the world's biggest economy into recession. The Dow Jones Industrial Average added 2.4% to 13,412.55 with all 30 stocks in the index edging higher. Investors' confidence was also boosted up by
Energy futures apart from natural gas moved higher, being boosted by long-awaited deal on the US budget for 2013. Better-than-expected final manufacturing PMI figures from the US and UK also were supportive for the commodity group. Crude oil shot up after the US Congress approved fiscal reforms to avert so-called fiscal cliff. Capping gains, US crude oil stockpiles dropped 0.6
Industrial metals soared in the first trading session of 2013 as a deal on the US fiscal plan prompted a rally of risky assets. Base metals also were boosted by positive PMI releases from the US and Europe. Final manufacturing PMI in the UK climbed from 49.2 to 51.4 in December while final US manufacturing PMI was revised upward from
Precious metals rallied on Wednesday alongside with risk-assets after the US House of Representatives agreed on the budget for 2013, avoiding so-called fiscal cliff. The commodity group also found strong support on speculation that central banks across the globe will continue stimulus measures to boost their economies. Gold followed riskier assets, jumping on encouraging news from the US. Moreover, investors
Gold traded near the highest level in two weeks after predictions that lawmakers would continue to sustain their economies lead to a rise in demand for store of value. Spot gold reached $1,694.81 an ounce, the most since December 18. Bullion for February settlement remained almost unchanged at $1,686.80 an ounce, and there was seen a 12th year rise as
German equities rose, sending the DAX index to its five-year high, as the U.S. lawmakers agreed on a budget bill that halts the so-called "fiscal cliff". Yesterday, the U.S. House of Representatives passed the budget legislation. Experts say another compromise in February will lead to further rally in the stock market.The German DAX index edged 1.88% higher to 7,757.96, showing
U.K. blue chips rallied to the highest level in 17 months, exceeding the 6,000 reading for the first time since July 2011, as U.S. lawmakers passed a budget deal and prevented automatic tax increases and spending cuts. The U.S. Senate approved the budget proposals in early hours on January 1. The FTSE 100 index climbed 2.35% to 6,038.48 by 16:00
Australian equities advanced to their highest level in 19 months on January 1, as U.S. lawmakers made a budget deal to avert spending cuts and tax hikes. Gains in Australian shares were mostly led by top miners, as U.S. budget deal erased concerns on possible recession in the nation's economy. The S&P/ASX 200 index rose 1.23%, or 56.99 points, to
Indian shares jumped to their highest level in 20 months after the U.S. senate passed a budget bill trying to avert the so-called "fiscal cliff" coming into effect on January 1. Experts said the agreement would give more confidence to investors of emerging-market stocks. The Indian Sensitive index advanced 0.8% to 19,580.81. The gauge has rallied 26% in 2012, as
Hong Kong blue chips advanced sending up the Hang Seng index adding to its 23% gain in the last year, as U.S. lawmakers reached a budget deal and Chinese manufacturing sector improved for a third month. A report on January 1 showed the China Purchasing manager's Index was 50.6 the prior month. The index jumped 2% to 23,103.97, first time
German equities rose, sending the DAX index to its five-year high, as the U.S. lawmakers agreed on a budget bill that halts the so-called "fiscal cliff". Yesterday, the U.S. House of Representatives passed the budget legislation. Experts say another compromise in February will lead to further rally in the stock market. The German DAX index edged 1.88% higher to 7,757.96,
U.K. blue chips rallied to the highest level in 17 months, exceeding the 6,000 reading for the first time since July 2011, as U.S. lawmakers passed a budget deal and prevented automatic tax increases and spending cuts. The U.S. Senate approved the budget proposals in early hours on January 1. The FTSE 100 index climbed 2.35% to 6,038.48 by 16:00
The U.S. manufacturing expanded in December after shrinking to the lowest level in three years in the previous month. The ISM's manufacturing index rose to 50.7 from 49.5 in November, the weakest since July 2009. Reading above 50 indicates that the sector is expanding. "The worst part of the manufacturing slowdown is behind us," Bricklin Dwyer, Economist at BNP Paribas, said
Manufacturing activity of the Asia's third largest economy increased to its highest figure in a six-month period in December as factory output rose together with bigger volumes of ordered books, a survey of HSBC showed on Wednesday. The HSBC Purchasing manufacturing Index recorded its biggest monthly gain in the last month of 2012, when rose from 53.7 in November to 54.7 in December.
Harmonized inflation in the Eurozone's largest economy went up unexpectedly in the last month of 2012, the Federal Statistical Office reported on Wednesday. The report showed the harmonized index of consumer prices in Germany accelerated 2.1% annually in December following a 1.9% drop in the month before, while the consumer price index added also 2.1% in the last month after
Activity among factories in the Eurozone fell more than expected in the last month of 2012 as new orders declined, purchasing manager's surveys in the 17-nation bloc showed on Wednesday, pointing out a contrast to signs of recovery in China. Markit's Eurozone Manufacturing Purchasing Manager's Index dropped from 46.2 in November to December's 46.1. while in China the PMI stood at
Australian equities advanced to their highest level in 19 months on January 1, as U.S. lawmakers made a budget deal to avert spending cuts and tax hikes. Gains in Australian shares were mostly led by top miners, as U.S. budget deal erased concerns on possible recession in the nation's economy. The S&P/ASX 200 index rose 1.23%, or 56.99 points, to