Gold prices remained steady during the Asian session as investors started to put more attention to the Fed's decision on further quantitative easing in the US rather than wait for results of negotiations on the Greece's debt restructuring. COMEX gold futures for delivery in February traded at USD1,667.25 a troy ounce, on the New York Mercantile Exchange, easing up 0.17%.
Canadian Dollar traded close to flat against its US peer on Tuesday as the growth of country's retail sales slowed in November indicating declining public demand. Retail sales added 0.3% in November compared to 0.9% surge in October. Canadian currency depreciated 0.01% to C$1.0090 in Toronto evening session. Currently USD/CAD is trading at C$1.0104.
Greece will default on the exorbitant amount of its debts even in case the country agrees with private bondholders on debt restructuring, said an expert panel. The deal with private investors implies reduction of the country's debt load by 40% from 160% to 120%. But even 120% is a very high level that would hold down Greece's credit rating at
Google reviewed its privacy policy across various services as email, search and social network sites. About 60 different policies are planned to be combined into only one that will came in force 1 March, Google announced. The new policy was designed after the company came in for criticism for misusing the private information of the users and shut down its
Canada's core retail sales increased more than expected in November, soaring for the firth month line. Core retail sale that exclude sales of automobiles advanced by 0.3% in November on a seasonally adjusted basis, while experts predicted the sales to add 0.2%. After the data release, the Canadian Dollar stayed lower against the US counterpart and the paid USD/CAD traded
Crude oil futures added to gains during the Asian trade as Iran renewed its treats to block Strait Hormuz after the EU approved total Iranian oil imports ban. Light, sweet crude oil March contract traded at USD99.17 a barrel on the New York Mercantile Exchange, advancing 0.22%.
The wellbeing of the global economy is under threat because of the spreading risk from the Euro Zone, said the IMF. The organization expects the world's economy to expand by 3.25% this year as compared to 4% initially projected. Considering the Euro Zone, the GDP growth is predicted to contract by 0.5% in 2012 while previously the IMF projected 1.1%.
Belgian business climate improved in January, but remained in the negative territory since May 2011. The business climate index added 1.1 point to minus 9.5 this month on a seasonally adjusted basis from minus 10.6 in the preceding month, reported the Bank of Belgium. Experts predicted the index to inch up 0.5 points approaching minus 10.1 this month.
Debts owed by a typical UK family surged 48% since January last year as increasing inflation rate impacted households' incomes, reported Aviva Family Finances. Average UK family owes about 7,944 Pounds in unsecured borrowings on loans, credit cards and overdrafts as compared to 5,360 Pounds in January last year. The debts represent over 32% of the overall net annual income
US stocks traded mixed on Tuesday amid investor concern about earnings reports and uncertainty in Greek debt talks. S&P 500 Index gave up 0.1% or 1.35 points and closed at 1,314.65 while Dow Jones Industrial Average Index fell 0.26% or 33.07 points to 12,675.75. Only Nasdaq Composite managed to end up in positive area, gaining 0.1% or 2.47 points and
European stock markets closed lower on Tuesday as EU finance ministers attempted to persuade Greek private lenders to accept lower borrowing costs on restructured Greece sovereign debt. Stoxx 600 lost 0.4% to 256.04, FTSE 100 fell 0.5% and finished at 5,751.90. German DAX edged down 0.3% to 6,419.22 and French CAC 40 index slipped 0.5%, ending at 3,322.65. Greek ASE
Japanese Yen weakened against its main counterparts on Tuesday after nation's statistics reported Japan in 2011 faced the first trade deficit in 30 years, fuelling concerns about country's economic outlook. Japanese currency lost 0.4% against US Dollar to ¥77.95. Currently USD/JPY is trading at ¥77.91.
Australia's annual core inflation, which exclude the biggest swings in prices, quickened in the last three months of 2011, climbing to 3%, compared to central bank's target of 2%. An increase in inflation reduced probability that the Reserve Bank of Australia might cut its benchmark interest rate further. The overall price index in 4th quarter was unchanged as banana price
Natural gas bounced, finding support in the production cuts as Chesapeake Energy reported it plans to decrease the output level due to low prices of the natural gas. Natural gas futures for delivery in February traded at USD2.596 per million British thermal units during the late US trade on Tuesday, on the New York Mercantile Exchange, soaring by 0.64%.
Japan reported the first yearly trade deficit in 30 years. The trade deficit of the country for 2011 amounted 2.49 million Yen, with imports adding 12% and exports decreasing by 2.7%, according to finance ministry. Experts blamed recent earthquake and tsunami as many factories and supply chains were damaged.
German business confidence may have increased in January to 5-month record high, as the European largest economy indicated recovery. According to economists questioned by Bloomberg, the business climate index, estimated by the Ifo institute, probably rose from 107.2 to 107.6. Economists also predict the measure of current situation to increase from 116.7 to 116.8. The report is due today.
Apple Inc. posted a 4th quarter's profit, more than two times higher than in corresponding period last year due to successful sales of Iphone and Ipad. Apple managed to sell 37 million Iphones and reach a net profit of $13.1bn in the last quarter of 2011. The profit per share for the particular quarter was $13.87. Apple shares jumped 12% on the earnings
US President Obama called the government to impose higher taxes on country's wealthy to restore income equality in US economy, fueling predictions he will use this call in his election campaign. Obama claims that those who earn millions must pay at least 30% tax to make sure more citizens have a fair share of income. President also demanded to create more jobs
German DAX Index climbed 0.5% on Monday, but pulled back 1.1% to 6,365.95 during Tuesday session, pushed down by domestic banks. DAX index posted loss, as private creditors put pressure on Greek officials to raise coupon rate above 4%. Commerzbank gave up 4%, and Deutsche Bank dropped 3.3%. Siemens AG declined 3.6% after reporting a fall in earnings. At the
After jumping 0.9% on Monday, UK FTSE 100 Index retreated on Tuesday, as investors lost patience on lingering Greek debt swap agreement. UK benchmark fell 0.8% to 5,737.97, weighted down by financial shares. Royal Bank of Scotland dropped 4%, while Lloyds Banking edged down 4.2%. Essar Energy PLC was among few winners, fluctuating into positive area after the company reported
Japan's Nikkei Stock Average slightly recovered on Tuesday amid surge in crude prices, though the gains were limited as trading volumes were low and BoJ reduced the growth outlook for 2012. Nikkei 225 index added 0.15% or 12.78 points and closed at 8,785.33, lifted by energy shares. Inpex Corp. advanced 2.2%, while Japan Petroleum Exploration Corp climbed 1.4%. Automaker Toyota
Australian S&P/ASX 200 traded flat on Tuesday, erasing early gains as worries about Greece and Portugal debt problems returned to markets. Australian benchmark index declined 0.02% or 0.9 points and settled at 4,224.20, supported by the jump in oil prices. Energy shares climbed, while mining stocks showed mixed performance. White energy soared 3.8%, Woodside Petroleum Ltd advanced 0.7% and Coalspur
Dow Jones Industrial Average Index pulled back on Monday, as investors remained worried about possible outcome of Greek debt talks. Blue chip index lost 0.09% or 2.53 points and finished at 12,708.82. 12 of 30 stocks within the index posted gains, led by technology shares. Bank of America jumped 10.3% despite the relatively poor performance of index's financial sector. Hewlett
Agricultural commodities advanced on Monday on the unfavorable weather conditions in South America that weighted down on the crop forecast. Softer US Dollar also contributed to gains. However, meteorologists claimed that cold front is likely to bring rains in the major grain-growing areas. The only loser was coffee that dropped by 2.64% over the day on the expected ample global