The Goldman Sachs has forecasted significant decrease in gold value in year 2014, as the gold is highly sensitive to the the Fed actions, which proved this week when the Fed said that stimulus soon might be cut and gold dropped by 3%. As the bank said the bullion might face 15% drop in next year, thus reaching the lowest
The New Zealand Dollar depreciated 0.56% against the U.S. Dollar, thus extending its loosing streak to third day and reaching the weakest level in two-months. The so called Kiwi dropped after the Reserve Bank of New Zealand economist McDermott's mentioned that the Kiwi is overvalued and the high exchange rate has contributed to the economic imbalance.
The European stocks were little changed as the Germany reported slower growth of economy, while showing highest business confidence since April 2012. The Stoxx Europe 600 Index advanced 0.1%, from which largest gain was for Solarworld AG which surged 6.1%, after announced to takeover the Bosch Solar Energy AG.
The Sterling surged 0.5% against the Australian Dollar, thus reaching the strongest level since July 2010, after the economists forecasted that the next week reports will confirm that Britain's economy is recovering in faster pace. The Pound dropped 0.3% versus the shared currency after the Germany reported improvement in Ifo index.
The shared currency advanced advanced 0.25% against the U.S. Dollar after the largest economy in Europe, reported the GDP and upbeat Ifo data. The German GDP expanded 0.3%, thus having slower growth, than compared to the last quarter of 0.7% growth. The Ifo business climate index advanced to 112.2 points exceeding the forecasts of 111.5 points.
In their most recent report, which came out this Friday at 5:00am GMT, the Bank of Japan stated that it expects its net exports to "increase moderately with some fluctuations". This is backed up by the BOJ's belief of the continuation of an upward trend in industrial production. Overall, the BOJ sees the Japan economy in a state of moderate
According to the announcement made by the European Central Bank's President Mario Draghi, the regulator should act in line with interests of all countries that are members of the Eurozone. Moreover, he said that in the long-term very low interest rates may threaten financial stability of the Eurozone, however, at the moment they need to be low due to weak
Retail sales in Italy dropped unexpectedly in September of this year, as the decline reached 0.3% on a monthly basis. At the same time, economists forecasted them to add 0.4% after staying flat in August. On the annual basis Italian retail sales lost as much as 2.8%. Economists point out that it was the largest retail sales' drop in eight
Economic growth in Germany decreased to 0.3% in the July-September quarter of the current year, while the annual growth reached 1.1%, calculating on price-adjusted basis. The result fully matched the initial estimations. Economists point out that the largest contribution to the GDP growth was made by domestic demand, which added 0.7%, while exports and imports added 0.1% and 0.8%, respectively.
Both Spain and Italy's ministers of economics are expected to justify their proposed budgets this Friday, during the Eurogroup Meetings in Brussels. This comes a week after the European Commission expressed doubt that Italy and Spain are doing all they can to lower debt or reduce deficits. These doubts were contested by the two countries. The European Commission hopes that
The German Ifo Business Climate index, released this Friday, 9:00am GMT, stood at 109.3, higher than market expectations of 107.7, and than previous months number of 107.4. The expectations survey, measuring businesses' expectations of the upcoming six months, posted a reading of 106.3 points, higher than the 104 projected and the 103.6 figure of last month. The current assessment survey
First-time applications for jobless benefits in the world's largest economy declined by much more than economists preliminary estimated in the week ended on November 16, the Labor Department showed in a report on Thursday. According to the report, claims for unemployment benefits slipped from 344,000 to 323,000 last week, while it was forecast to fall to 335,000.
Philadelphia-area manufacturing activity growth has eased by much more than economists preliminary estimated in November with the activity index falling to the lowest level in six months, a report released by the Federal Reserve Bank of Philadelphia revealed on Thursday. The Philly Fed's current activity index slid 6.5% in November from 19.8 recorded in the month before.
The Australia currency decreased on Friday and was set to extend its largest streak of weekly drops in seven years on speculation that the Reserve Bank of Australia may take steps to curb the overvalued currency. The so-called Aussie slipped 0.6% to 91.78 U.S. cents by 4:58 p.m. Sydney time following a slide to 91.68, the least since September 9.
Emerging-market equities increased on Friday with the area's benchmark index rising towards a weekly gain as financial and technology shares advanced, while the Thai stocks and the local currency dropped. The MSCI Emerging Market Index surged 0.3% to 1,006.70 as of 2:05 p.m. Hong Kong time and it has jumped 0.2% this week.
West Texas Intermediate crude advanced on Friday traded close to the highest level in a three-week period after a government report showed that claims for jobless benefits in the world's largest economy advanced suggesting an economic recovery. WTI for delivery in January slipped 31 cents to $95.13 a barrel as of 2:15 p.m. on the NYMEX.
The Japanese currency declined on Friday falling towards the lowest level in four months against the U.S. Dollar amid signs that risk appetite of investors improved and as the Federal Reserve signaled it may scale back sooner than expected. The Yen slipped to 136.54 per Euro, the lowest since October 2009, and it traded at 101.36 per U.S. Dollar.
Wall Street shares closed higher on Thursday with the benchmark index Dow Jones closing above a level of 16,000 for the first time after the shares rebounded from a three-day losing streak as report showed that labour market improved. The Dow Jones industrial average added 0.69% to 16,009.99, the S&P 500 Index climbed 0.81% to 1,795.85 and the Nasdaq Composite
Japan's stocks dropped on Friday snapping a six-month streak of gains as the Japanese currency declined and other Asia's markets fell amid expectations that the Federal Reserve may start tapering its bond-buying program soon. The benchmark Japan's index Nikkei 225 advanced more than 1% and closed 0.1% higher and it added almost 10% in last two weeks traded near this
The 10-year Treasury yield advanced 0.01% to 2.81% as of 8:39 a.m. in New York, after the Labor Department reported a decrease in jobless claims by 21,000 from 323,000 last week, surpassing economists expectations for a decline to 335,000. The 2.75% security note due in November 2023 slid 94 cents per $1,000 par value, to 99.468.
The Eurozone shared currency rocketed at fastest pace almost reaching its 4-year high level versus Yen, after the ECB president Mario Draghi didn't confirm the plans to introduce negative deposit rates, stressing that record-low 0.25% interest rate was not aimed to reduce the inflation risks and the 17-nation economy improves gradually reaching its under 2% inflation target. The Euro appreciated
The Britain's manufacturing output in the first 2 months of Q4 was growing at its fastest pace since January 1995, and is expected to improve around 0.9% in final quarter, the CBI Industrial Trends Survey revealed. More than one-third of firms said that total amount of orders books were higher than usual in November, while one-fourth reported a balance at
U.K. government ten-year gilt yields climbed 0.08% to 2.81% as of 10:55 a.m. in London, after to Federal Reserve signalled, in its minutes of October 29-30 meeting, to cut monetary stimulus in nearest future as economic data continues to show ongoing improvement. The 2.25% security note due in September 2023 slipped 0.62 per 1.000 Pound par value, to 95.255, while
The 17-nation shared currency declined 0.1% to $1.3424 after the release of disappointing French PMI, which showed further decline to 47.8 point in manufacturing area and 48.8 in services sector, while an optimistic German manufacturing activity figures helped the currency to avoid bigger losses. German manufacturing PMI improved 0.8 point to 52.5 in November, while service sector rose to 1.6