The U.S. currency weakened on Thursday following an increase against the Japanese currency after the Federal Reserve unveiled its decision to trim its monthly bond-purchases by $10 billion as the economy slightly improved in recent months. The so-called Greenback advanced to the five0year peak at 104.37 yen after dropping to 103.96 yen.
Asian and Australian stocks increased on Thursday after the U.S. Federal Reserve representatives decided to start scaling back its monetary easing policy, however, the Fed keeps the interest rates at record lows for longer than expected. The MSCI broadest Asia-Pacific index outside Japan advanced 0.2%, while Shanghai gauge dropped 0.6%.
The European stocks climbed recovering from yesterdays drop, as the investors are waiting for the Federal Reserve bond-buying decision. The Stoxx 600 Index advanced 0.8% , still being behind 3.5% from this year's highest level. The biggest gains in Europe reported Elektrobit Corp. which jumped 14% after increasing its full-year forecast and TUI AG which surged 4.5%, after reporting full-year
Construction output in the 17-nation bloc declined at a faster pace in October from the previous month and recorded the steepest drop since May, a report published by the statistical office Eurostat showed on Wednesday. Eurozone's construction production fell 2.4% on an annual basis in October following a 0.7% slide in the prior month, in May it decreased 3.7%.
Business sentiment in the Europe's largest economy advanced to the largest figure in a twenty-month period in the last month of 2013 suggesting that the country's economy gathered growth momentum, the Ifo Institute revealed in a survey on Wednesday. The Ifo business climate index measuring sentiment in industrial and trade sector rose from November's 109.3 to 109.5 in December.
The loonie dropped for the third day, after the Bank of Canada Governor Stephen Poloz said that the recent decrease in currency was not enough to aid the exporters. The Canadian Dollar tumbled versus most of its 16 major counterparts, falling 0.3% against the U.S. Dollar, before touching the lowest level in three years.
Current account balance in Italy came in surplus in October rising on an annual basis from 4.022 billion euros in October 2012 to 1.444 billion euros this year, a report published by the Bank of Italy unveiled on Wednesday. The report also showed that Italy's merchandise trade surplus in October grew from 2.955 billion euros to 4.374 billion euros.
Housing starts in the world's largest economy climbed substantially in November beating economists' expectations and reaching the highest figure since February 2008, a report released by the Commerce Department showed on Wednesday. According to the report, U.S. housing starts advanced 22.7% totalling 1.091 million from October's level of 889,000.
Sugar traded in New York and London slipped on Wednesday falling towards the weakest levels in three years after an industry report revealed that harvests in Brazil, India and Thailand increased boosting oversupply. Refined sugar for March delivery slid 0.4% to $434.10 per ton as of 12:18 p.m. on the London's NYSE Liffe, while raw sugar expiring in the same
The Japanese Yen dropped thus halting its three day winning streak, after Japan reported unexpectedly big trade deficit of 1.35 trillion Yen in November. The Japan's currency tumbled against most of its 16 major peers, falling 0.3% versus the U.S. currency and slipping 0.2% versus the shared currency.
Wheat traded in Chicago declined on Wednesday hitting the lowest level in eighteen months amid speculation that inventories of the commodity may expand on projections that crop will reach the record high. Wheat for settlement in March fell 0.4% to $6.17 per bushel on the CBOT by 6:17 a.m. local time and was set to drop for the fifth consecutive
The Canadian wholesale trade data advanced 1.4% to $50.5 billion in October, thus exceeding the analysts expectations. The growth in wholesale trade was boosted by the surge in machinery and supplies sector which surged 5.6%, the largest monthly gain since September 2003. Significant gains in sales was also for computer and communication equipment which jumped 6.6%.
The Pound surged the most in almost two months after the U.K. unemployment dropped to the lowest level in more than four years. The sterling advanced at least 0.2% against all of its 16 major peers, surging 0.7% versus the shared currency and 0.6% against the greenback. The Pound has climbed 5.9% in the last six months, having the biggest
Rio Tinto Group, a multinational mining company, announced on Wednesday that it is expects the iron ore price to decrease slightly the next year. This year, the iron ore price surged 22%. Sales of this material make the biggest part of company's revenue and the company may lose a part of it the next year. Today, Rio Tinto Group Plc.
The unemployment rate in the United Kingdom unexpectedly decreased in October of this year, reaching 7.4%, the lowest in more than four years. At the same time, analysts expected no change in the jobless rate from 7.6% in September. Now, economists predict that the Bank of England may raise the main interest rate earlier, namely in 2014, as the current
European benchmark Brent crude slightly gained on Wednesday trading session after a report unveiled that inventories in the world's largest oil consumer, U.S. dropped last week by 481,000 barrels and as Fed is forecast to reduce its bond-purchases to $45 billion per month. Brent for delivery in February added 0.1% to $108.59 per barrel on the London's ICE Futures Europe
West Texas Intermediate crude gained on Wednesday trading session after an industry report revealed that stockpiles in the U.S., the world's largest consumer of the commodity, fell for the third successive week before the Fed's meeting today. WTI for delivery in January expiring tomorrow added 21 cents to $97.43 a barrel on the NYMEX and traded at $97.38 as of
Gold increased on Wednesday rebounding from a notable loss recorded yesterday on speculation that the Federal Reserve may refrain from curbing its aggressive bond-purchasing program on today's policy meeting. Bullion for December settlement advanced 0.4% to $1,235.68 a ounce and traded at $1,232.48 as of 1:15 Singapore time after falling 0.8% yesterday.
Australian equities dropped on Wednesday trading session and were set to record their worst quarter in comparison to global shares in a two-year period after manufacturers from General Motors Co. and Ford Motor Co. exit the country and as consumer confidence index fell. The S&P/ASX 200 Index slipped 2.2% from September through yesterday, while the MSCI Emerging Market Index rose
UBS AG, the largest bank in Switzerland, will most likely have problems with paying dividends to its shareholders, as country's regulators ask banks to increase capital with leverage rules tightening. It makes UBS shares less attractive, as its dividend yield of 1.3% is less than competitors' ones. Yesterday, UBS AG shares lost 1.16% to 16.17 francs per share in Zurich.
The majority of China's shares increased on Wednesday mainly due to a notable advance of brokerages and drugmakers and after a government report showed that foreign investments and home prices in the country rose in November. The Shanghai Composite Index jumped 0.1% to 2,152.84 as of 1:11 p.m. and the Hang Seng China Enterprises Index added 0.9%.
U.S. Treasuries stayed flat earlier on Wednesday session after recording the largest advanced in one month amid speculation that the Federal Reserve may trim its stimulus measures on today's policy meeting as the economy improves. The U.S. benchmark 10-year government bonds yielded at 2.85% by 2:13 p.m. Tokyo time and it has gained from 1.76% recorded in December 2012.
Finance ministers of the Eurozone came to an agreement to support Greece's economy with another financial aid package totalling one billion euros, the 3rd review of the nation's economic adjustment program. According to the Jeroen Dijsselbloem, the Eurogroup President, Greece reached all four milestones in order to receive the package from the European Financial Stability Facility.
The U.S. Dollar weakened earlier on Wednesday trading session falling against the 17-nation bloc currency and the Japanese Yen as investors awaited a result from the Federal Reserve policy meeting possibly bringing less stimulus by the U.S. central bank. The so-called Greenback traded at $1.3772 earlier on Asian trading session and the U.S. Dollar Index stayed flat at 80.02, down