New Zealand employment rose 1.2%, or by 27,000 jobs in the third quarter, which is the biggest increase since year 2007. The unemployment rate dropped 0.2% to 6.2%, thus matching the economist forecasts. Such surge in employment and business confidence will add pressure on inflation and wages, thus adding up to the possibility for Reserve Bank of New Zealand to
China's shares decreased on Wednesday heading to the weakest level in one week mainly due to drops of financial stocks, drugmakers and consumer discretionary companies, before this week's Communist Party meeting blueprinting reforms in order to avoid slow economic growth. The Shanghai Composite Index slipped 0.8% to 2,139.61, the least since October 29.
German government bonds increased on Wednesday as the country auction five-year bunds totalling 4 billion euros today before tomorrow's policy meeting of the European Central Bank expected to bring no change in the area's interest rates. The benchmark 10-year bunds slipped two basis points to 1.73% as of 7:15 a.m. in London after rising 0.07% yesterday.
European shares advanced on Wednesday pushing the benchmark index Europe 600 towards its highest level since May 2008 before a report showed that retail sales in the 17-nation bloc declined and as German factory orders expanded. Stoxx Europe 50 Index futures expiring in December gained 0.4% to 3,040 as of 7:21 a.m. London time, while the Stoxx 600 traded 0.2%
The Brazilian currency slipped on Wednesday recording the largest drop among emerging-market currencies on concerns that credit rating of the country may be cut amid lack of effort by the local government to control budget deficits. Brazil's Real decreased 1.9% to 2.2890 per U.S. Dollar and it has fallen 3.4% last month, the most among 16 most-traded currencies.
Emerging-market currencies slipped on Wednesday mainly due to a drop of the Indian currency amid speculation that the U.S. Federal Reserve scales back its stimulus program sooner than forecast reducing liquidity on the emerging markets. Meanwhile, the MSCI Emerging Markets Index gained 0.1% to 1,016.59 with 268 stocks falling and 247 increasing.
The European benchmark crude advanced on Wednesday after it traded near the weakest level since July 2 yesterday after a government report is forecast to show that stockpiles in the U.S. dropped in the week ended on November 1. Brent for delivery in December added 75 cents to $106.08 a barrel on the London's ICE Futures Europe exchange following a
Merchandise trade balance in Australia came in deficit in the month of September, however the shortfall was notable lower than economists initially expected, a report revealed by the Australian Bureau of Statistics showed on Wednesday. The country's merchandise trade deficit was A$284 million in September compared to A$500 million in the month before.
The shared currency strengthened against the U.S. Dollar and the Japanese Yen amid speculation that recent fall in the Euro was too rapid signalling that the European Central Bank may keep the benchmark interest rates unchanged on tomorrow's policy meeting. The Euro jumped 0.4% to 133.28 Yen by 2:47 p.m. Tokyo time and it traded 0.2% higher at $1.3506.
The performance of Indonesian economy slightly weakened in the three months ended in September, a report published by the Statistics Indonesia unveiled on Wednesday. According to the report, the country's gross domestic product grew 5.62% on an annual basis in the Q3 following a 5.81% expansion recorded in the quarter before, while it was forecast to rise 5.6%.
West Texas Intermediate oil increased on Wednesday rebounding from the weakest level in a five-month period before a report showed that fuel supplies in the world's largest consumer, U.S., shrank to the lowest level since last November. WTI for delivery in December added 62 cents to $93.99 a barrel on the NYMEX and traded at $93.88 as of 2 p.m.
Asia's shares advanced on Wednesday snapping a four-day losing streak on the local benchmark index after the Japanese currency weakened versus the U.S. Dollar together with the country's stocks rising amid carmakers. The MSCI Asia Pacific Index added 0.3% to 141.37 at 2:32 p.m. Hong Kong time, while the Japan's Topix index climbed 0.8%.
U.S. Treasuries swung between gains and losses on Wednesday as demand for companies' bonds reached the highest level in a six-year period as the Federal Reserve signalled it may scale back its stimulus spurring investors to take profits from the market. The benchmark 10-year yields traded at 2.67% by 1:52 p.m. Tokyo time.
The Japanese Yen declined on Wednesday falling against the 17-nation bloc currency as increase in the country's shares spurred risk appetite of investors pushing the Japanese currency down and as Toyota Motor Corp is likely to raise its profit forecast. The Yen slipped to 133.41 per Euro traded near the lowest level in a month at 132.37, while it traded
Equities on Wall Street closed lower on Tuesday after rising in last two trading sessions after a government data showed an improvement in economic situation in the country signalling a release of tight monetary policy over the next few months. The Dow Jones Industrial average fell 0.13% to 15,618.22, the S&P 500 Index slipped 0.28% to 1,762.97 and the Nasdaq
The majority of Asian stocks increased modestly on Wednesday with the Japanese benchmark gauge rising mainly due to a 1.3% advance recorded by major carmaker Toyota as investors expect the U.S. Fed to taper off and as Euro-area data showed unfavourable results. The Japan's Nikkei Index gained 1.3% after Toyota's report about raising its profit forecast.
The ISM non-manufacturing index for the U.S. rose to 55.4 points in October of this year, while the majority of analysts expected the index to fall to 53.9 points from 54.4 points in September. The index reading above 50 points indicates expansion. It is worth pointing out that the index measures the activity in 90% of the U.S. economy, as
Apple Inc., the most valuable technological company in the world, plans to build a new manufacturing facility in the city of Mesa, Arizona with more than 2,000 new jobs. There, the company plans to produce components for cameras' lenses and "home" buttons that are used on iPhones and iPads. Today, Apple Inc. shares are losing 0.1% to $526.20 per share
According to the data of the Swiss Federal Statistical Office, the consumer price index in the country decreased 0.1% in October of this year on a monthly basis after being flat in September. Economists predicted the inflation to add 0.1% in October. At the same time, the annual deflation reached as much as 0.3% and the pace of decline increased
Economic growth in the United Kingdom will increase to 1.3% during the current year, while the next year the economy will add as much as 2.2% and 2.4% in 2015. Such the outlook was given by the European Commission on Tuesday. It is worth pointing out that the British economy advanced only 0.1% in 2012. Economists say that the economic
The ICE Dollar index dropped to 80.577 from Monday's figure of 80.606, while WSJ Dollar index declined to 72.81 from prior 72.89, after European Commission cut its GDP forecast for the year 2014 to 1.1% from previous expectation of 1.2% and increased the forecast for unemployment rate to 12.2% from 12.1%. The greenback traded at 0.7423 Euro.
The European Union's GDP is estimated to stay at current level in 2013 and may decline by 0.4% in Eurozone, according to EC autumn forecast. In 2014 the economic performance in E.U. is expected to grow by 1.4% and by 1.1% in Eurozone, while the figures forecasted for the year 2015 are a little bit more optimistic and will correspond
U.K. services activity index unexpectedly rocketed to 62.5, comparing to September's figure of 60.3, heading for fastest growth since May 1997, Markit Economics revealed today, while the construction and manufacturing indexes also advanced in previous month. The Britain's economic output will grow 1.3% this year and 2.2% in 2014, the E.U. Commission said today.
S&P 500 futures maturing in December dropped 0.3% to 1,757.6 as of 7:29 a.m. in New York, ahead of service industry report coming out this week, which will show the U.S. economic performance after Fed required some more evidence of improvement before tapering monetary stimulus. Dow Jones Industrial Average contracts dropped 0.3% to 15,522, while LeapFrog Enterprises Inc. declined 9.1%.