Sovereign debt rating of Italy was affirmed by Standard & Poor's rating agency amid diversified and wealthy economy and an improvement in external balance sheet, the rating agency showed in a report on Friday. The gross domestic product of Italy's economy is forecast to recover 0.4% and 0.9% in 2014 and 2015 respectively.
Producer and import prices in Switzerland dropped in the month of November with the index for imported and domestic products falling by 0.4% on a sequential basis, a report published by the Federal Statistical Office unveiled on Friday. Month-on-month, the price index slipped 0.1% as domestically produced goods fell 0.1% and imported goods slid 0.2%.
Japanese industrial output advanced on a sequential basis in October rising at a faster pace than economists originally expected, a report published by the Ministry of Economy, Trade and Industry revealed on Friday. Japan's industrial production gained 1% compared to a 0.5% growth initially forecast as shipments climbed monthly by 2.3% in October.
The U.S. Dollar increased together with the Euro on Friday against the Japanese Yen after a government report showed that the U.S. retail sales accelerated last month suggesting that the U.S. Federal Reserve may trim its stimulus as soon as on the next policy meeting. The U.S. Dollar added 0.2% to 103.59 yen, while the Euro gained 0.2% to 142.43
Global shares declined on Friday session with the world-stock index heading towards the biggest two-day fall in six months as the U.S. Dollar increased to the strongest level in five years versus the Yen after retail sales accelerated suggesting that the Federal Reserve may curb its stimulus. The MSCI world stock index decreased 2.5% in the last two weeks and
Japan's shares increased on Friday with the benchmark local index Nikkei ending its three-day decline as the country's currency reached the lowest level in five years versus the U.S. Dollar after a government data showed that retail sales in the U.S. expanded. The Nikkei 225 added 0.4% to 15,403.11, while the Topix index dropped 0.3% to 1,238.88.
The total volume of retail sales in the United States surged 0.7% in November of 2013 after a slightly fewer 0.6% rise a month ago, as the pace of advance reached its highest level in five months. Analysts did not expect the pace of increase to change from October level. Experts explain the good performance of U.S. retailers mostly with
The total number of claims for unemployment benefits in the U.S. climbed 68,000 during the previous week, reaching 368,000 comparing with 300,000 claims a week before. Economists say that this jump was the largest in more than one year, as they predicted the number of jobless claims to rise slightly to 321,000. Together with that, the average indicator for four
The manufacturing sector of the Eurozone continued to shrink in October of the current year, as the indicator decreased 1.1% on a monthly basis after an upwardly revised 0.2% drop in September. At the same time, analysts expected the industrial output to rise as much as 0.4%. Economists say that it will be difficult to reach positive Q4 economic growth
The value of U.S. Treasuries decreases on Thursday, as the yields jumped to the largest level this week, as the official data reported on significant surge of 0.7% in U.S. retail sales, more than analysts predicted. It increases the probability of Fed tapering. Moreover, the yields for 10 and 30-year bonds reached the lowest level since September 23, as the
Glenn Stevens, the Governor for the Reserve Bank of Australia announced on Thursday that he would prefer the weak national currency and its low exchange rate with U.S. dollar rather than having low interest rates. Stevens said that the 85 cents rate would better support the Australian economy, increase employment level and help the manufacturing sector to erase losses from
After the Thursday meeting, the Swiss National Bank decided to keep the limit for franc-euro exchange rate at the previous level of 1.20, as this floor supports the economy and exports in Switzerland and is decreasing the pressure on the franc. At the same time, the Libor forecast for franc was kept at 0.25%. Moreover, it was announced that the
The consumer price index in India surged 11.24% in November of this year on the annual basis, while the Central bank could reject to increase the main interest rate, as the industrial production declined. The total output shrank 1.8% in October, more than economists predicted before. The current key interest rate is 7.75%, which has already been increased in September
The New Zealand's currency advanced on Thursday rising against the majority of its most-traded peers and reaching the five-year peak versus the Aussie amid speculation that the Reserve Bank of New Zealand may raise its benchmark interest rates as the economy improves. The so-called Kiwi grew 0.3% to 82.84 U.S. cents, it added 0.5% to 84.98 yen and traded at
The Australian Dollar weakened on Thursday falling for the second straight day after a government report showed that jobless rate advanced to the highest figure since 2009 and as consumer spending in the U.S. accelerated. The so-called Aussie declined 0.2% to 90.27 U.S. cents as of 4:57 p.m. Sydney time following a 1.1% fall recorded yesterday.
U.S. Treasuries declined on Wednesday trading session as the country issued benchmark 10-year government bonds in an auction totaling $21 billion drawing smaller-than-expected demand suggesting that the Federal Reserve may scale back its stimulus as soon as on the next policy meeting. 10-year yields jumped 5 basis points to 2.85% following a drop by 0.07% in the prior 3 days.
The British Sterling strengthened on Thursday snapping its two-week decline against the U.S. Dollar before a speech of George Osborne, the Chancellor of the Exchequer, explaining the last week's year-end budget statement. The Pound rose 0.1% to $1.6386 as of 7:44 a.m. in London following a 0.4% drop yesterday, the biggest fall since October 25.
EU harmonized inflation in France slightly increased in November matching preliminary economists' expectations, a report published by the statistical office Insee reported on Thursday. According to the report, France's consumer prices harmonized index added 0.8% in November on an annual basis following a 0.7% advance in the previous month.
The shared currency was little changed on Thursday trading near the highest level in seven days against the U.S. Dollar matching the longest winning streak since April 2011 as the European Central Bank President Mario Draghi holds a speech today in the EU parliament. The Euro fluctuated at $1.3784 by 7:05 a.m. London time following an increase to $1.3811, the
Government bunds in Germany declined on Thursday with the benchmark 10-year yield snapping its four-day advance before an industry report showing that industrial output in the 17-nation bloc increased in October following a 0.3% slip recorded in the previous month. German 10-year yields rose two basis points to 1.84% by 7:12 a.m. in London.
Gold swung between gains and losses on Thursday trading session falling from the strongest level in three weeks amid speculation that the U.S. Federal Reserve may curb its stimulus as soon as on the next policy meeting as a new provisional budget was approved. Bullion for settlement in December lost 0.2% following a $2.25 increase to $1,254.50 an ounce as
New Zealand's food prices decreased on a sequential basis on November recording the second straight monthly fall as fish, poultry and meat prices dropped 2.1% and vegetables and fruits declined 1.1%, the Statistics New Zealand showed in a report on Thursday. The country's food prices slipped 0.2% in November following a 1.0% slide in the previous month.
New Zealand's house prices recorded the highest level all time in November despite a drop in number of sales, a data revealed by the New Zealand's Real Estate Institute showed on Thursday. According to the data, the country's house prices gained to 4.3% rising from a level of NZ$425,000 to NZ$17,475, while in November 2012 the prices were 10.9% lower.
The Japanese currency declined on Thursday falling to recent lows versus the 17-nation bloc currency and the U.S. Dollar as investors weighed on prospects of the global economy after the U.S. policymakers reached a budget deal suggesting a possible scale back of stimulus. The Yen dropped to 102.58 per U.S. Dollar and it traded at 141.20 yen followed by a