West Texas Intermediate crude increased on Monday rising towards the strongest level in two months on speculation that the gross domestic product in the U.S., the world's largest consumer of the commodity, may be sustained. WTI for delivery in February dropped 22 cents to $99.10 per barrel on the NYMEX as of 2:55 p.m. in Singapore.
China's equities advanced on Monday mainly due to a notable increase of drugmakers and banks after the local benchmark index was falling nine straight days reaching the lowest level in four months. The Shanghai Composite Index added 0.2% to 2,089.71 and the gauge trades at 8.1 expected profits for the incoming 12 months, the lowest figure since July 31.
Low-deposit homes lending in New Zealand measured as the high loan-to-value ratio mortgage lending (LVR) decreased further in November, a report published by the Reserve Bank of New Zealand showed on Monday. The country's high-LVR lending with exemptions dropped to 7% after falling 12.8% in the previous month, while excluding exemptions, the high-LVR lending slipped to 5.8% from 11.7% in
Private consumption in Switzerland increased in the month of November after the Christmas trade season lifted business sentiment in the retail, however car registrations showed weaker figures preventing the increase from being steeper, UBS reported on Monday. The Swiss indicator of consumption added from 1.26 in October to 1.43 in the following month.
The performance of Japan's economy is forecast to rise at a slower rate in the following fiscal year to March 2015 mainly due to lowered impact from tax hikes planned in April 2014, a report revealed by the Ministry of Finance showed on Monday. The country's GDP is expected to advance 1.4% in 2014 fiscal year following a previous fiscal
Import prices in Europe's second largest economy dropped in November, however the rate of decline was lower than in the previous month and as initially forecast, a report published by the Federal Statistical Office unveiled on Monday. According to the report, Germany's import price index fell 2.9% on an annual basis after slipping 3% in the prior month.
Government debt in the world's second largest economy may have reached a level of 19.9 trillion yuan, or $3.28 trillion, by the end of last year, almost two times more than 2 years earlier, a report released by the think tank National Audit Office showed on Monday. In 2010, the government debt totalled 10.7 trillion yuan and by the end
The U.S. currency swung between gains and losses on Monday together with the Euro and the Yen staying flat as the Japanese national holiday reduced liquidity in markets after the Fed last week's policy meeting resulted in a stimulus scale-back. The U.S. Dollar traded at 104.05 yen falling from the five-year high at 104.64 recorded on Friday, and it fluctuated
Asian shares recorded a modest increase on Monday trading session spurred by record highs of U.S. stock indexes despite a report showing that government debt in the world's second-largest economy rose and as emerging-market currencies fell. The MSCI broadest Asia-Pacific gauge outside Japan gained 0.4%, while the South Korean Kospi added 0.6%.
The International Monetary Fund will increase its forecasts concerning growth in the U.S. economy, while the Congress reached a budget deal and the Fed started its bond purchasing program, pointing on the recovery. As expected, the jobless rate will continue to decline, as consumer confidence will advance. Currently, the IMF predicts the U.S. economy to add 1.6% this year and
Producer price index in Finland continued to decrease in November of this year, as prices fell for a fourth month in a row. The pace of decline in November, however, remained on October's level at 0.9% on the annual basis. At the same time, it is worth pointing out that the PPI for products sold inside the country stayed flat
The Canadian Dollar weakened on Friday falling towards the lowest level in a three-year period after a government report showed that inflation in the country stayed below the Bank of Canada's target ranging between 1% and 3%. The so-called Loonie dropped 0.1$ to C$1.0676 per Greenback by 12:16 p.m. Toronto time following a slide to C$1.0738, the least since May
Copper traded in London increased on Friday narrowing this week's decline as traders put their bets on weaker metal prices after the Federal Reserve curbed its monetary easing by $10 billion a month as the local economy grew 4.1% in Q3. Copper for March settlement added 0.6% to $7,245 per metric ton as of 11:25 a.m. on the London's Metal
Gold increased on Friday rising from the weakest level in three years reducing its weekly decline after the U.S. Federal Reserve announce it cuts its stimulus by $10 billion a month as the nation's economy improved. Bullion for February delivery added 0.2% to $1,195.70 an ounce as of 7:13 a.m. on the New York's Comex and it has dropped 3.2%
Natural gas traded in New York swung between gains and drops on Friday traded near the strongest figures in more than a two-year period after heading demand declined amid milder weather forecast in the U.S. Natural gas for delivery in January decreased 0.2% to $4.45 a million British thermal units as of 12:02 p.m. on the NYMEX following an advance
German benchmark 10-year government bunds declined on Friday falling to the lowest level in two months after the country's consumer confidence advanced to the most in 6 years reducing demand for other European notes. The German 10-year bunds yielded at 1.87% by 4:19 p.m. in London following a climb to 1.91%, the strongest since October 17.
The British Sterling slipped on Friday falling for a first day in three sessions against the 17-nation bloc currency after a government report showed that budget deficit in the United Kingdom widened and consumer sentiment surprisingly dropped. The Pound slid 0.2% to 83.62 pence a Euro as of 4:23 p.m. in London and it rose 0.9% this week.
The European benchmark Brent crude increased on Friday widening the gap between the West Texas Intermediate crude and the Brent, however the report showed that the price difference is forecast to shrink next year as the U.S. exports are expected to reach a record level. Brent traded at a level of $111.25 a barrel on today's session in London, $12.26
European stocks increased on Friday rising for the third successive day and were set to advance the most in a week since April mainly due to a notable gain of ING Groep NV and Banca Monte dei Paschi di Siena SpA. The benchmark index Stoxx Europe 600 Index surged 0.5% to 321.11 as of 4:38 p.m. London time and it
A leading indicator of the second-largest economy stayed flat in October after the index decreased in September and rose in August, while in the May-October period it advanced 1.7% with all components rising, the Conference Board reported on Friday. The German leading index remained at 106.7 points in October, whereas the coincident economic index fell 0.2% in the same month.
Service sector in the United Kingdom recorded a slight increase in the month of October with the pace of growth easing on a sequential basis mainly due to a weak performance by hotels, restaurants and distribution, the Office for National Statistics showed in a report on Friday. The U.K. service sector index gained 0.1% on a monthly basis in October
The European Commission disagrees with Standard & Poor's as the rating agency lowered the EU sovereign debt earlier on Friday citing overall creditworthiness deterioration after it stress-tested the Budget. The sovereign debt rating of the European Union was cut by the agency from the highest ‘AAA' rating earlier today.
Performance of the world's largest economy improved in the three months to September mainly due to a steep increase in non-residential fixed investment and consumer spending, a report revealed by the Commerce Department showed on Friday. According to the report, the U.S. GDP advanced 4.1% in the Q3 compared to 3.6% gain originally forecast.
The U.S. Dollar strengthened on Friday hitting the strongest level in five years against the Japanese Yen and was set to record the best weekly performance since November after a government data unveiled that the U.S. economy grew by 4.1% in the third quarter. The so-called Greenback advanced 0.2% ti 104.42 after reaching the most since October 2008 at 104.64