U.S. one-month rates fluctuated on Wednesday and were traded close to the strongest level since 2008 before an auction today offering short-term debt totalling $68 billion following three- and six- month auctions drawing the weakest demand in 4 years. One-month bill rates were at 0.34% at 7:01 a.m. London time after touching 0.36% yesterday and today, the most since October
German government bunds were little changed on Wednesday before a report was released showing that inflation in the 17-nation bloc increased at the fastest rate since March in September. The benchmark 10-year government bund yielded at 1.91% as of 7:26 a.m. London time following a gain to 1.92%, the highest level since September 24.
Car sales in European countries increased in September of this year, as the registrations added 5.4% on the annual basis to 1.15 million units. Despite that, it is the second lowest number of sales for September. Moreover, for first nine months of 2013 registrations dropped 3.9%. United Kingdom, France and Spain posted gains in car sales, while German and Italian
Canada's Dollar decreased on Tuesday trading session falling from strongest level in a week against its U.S. counterpart as investors hoped for an end of the U.S. government partial shutdown avoiding a default of Canada's biggest business partner. The so-called Loonie dropped 0.3% to C$1.0383 per U.S. Dollar as of 5:06 p.m. Toronto time following a gain to a week
Gold declined on Wednesday falling for the first time in a three-day period amid speculation that an agreement will be reached in debt limit talks avoiding the country's technical default before tomorrow's deadline. Bullion for delivery in October dropped 0.6% to $1,274.51 an ounce and it was traded at $1,279.84 as of 11:37 a.m. Singapore time.
China's equities dropped on Wednesday falling by the most in three weeks as Shanghai's free trade zone companies slipped amid speculation of excessive valuations and as JPMorgan Chase & Co. recommended reducing holdings amid economic slowdown of the nation. The Shanghai Composite Index fell 1.6% to 2,198.90 as of 1:12 p.m. and was set to record its largest fall since
West Texas Intermediate crude was little changed on Wednesday traded close to the strongest level in three months as U.S. lawmakers continued the debate over the new federal budget avoiding technical default of the world's largest oil user. WTI for settlement in November dropped 14 cents to $101.07 a barrel on the NYMEX as of 2:03 p.m. Singapore time.
Corn swung between gains and losses on Wednesday after it recorded the largest increase since September 6 amid speculation that this year's harvest may be the highest all time on rains in the Midwest following drier weather later this week. Corn for delivery in December advanced 0.2% to $4.445 a bushel on the CBOT as of 12:56 p.m. Singapore time.
Wall Street decreased on Tuesday trading session before the U.S. government long-term foreign debt was place under negative watch and as investors weighed on continued debt limit debate showing no progress. The benchmark Dow Jones industrial average dropped 0.87% to 15,168.01, the Standard & Poor's 500 Index fell 0.71% to 1,698.06 and the Nasdaq Composite index slipped 0.56% to 3,794.01.
The U.S. Dollar strengthened on Wednesday rising against the Japanese Yen as investors stayed optimistic about the new federal budget deal avoiding the country default before deadline on October 17. The so-called Greenback advanced 0.4% to 98.55 yen after it fell to 97.99 on yesterday's trading session, while it added 0.2% versus the Swiss Franc to 0.9144.
Asian equities tumbled on Wednesday and were traded not far from the highest level in five months as investors hope for a deal in the U.S. federal debt limit talks between President Barack Obama and House Republicans before deadline on October 17. The MSCI Asia-Pacific Index outside Japan fell 0.2%, while Japan's Nikkei also dropped 0.2% and Australian and Honk
New York area business conditions for manufacturers slowed down in October missing original economists' expectations, the Federal Reserve Bank showed in a report on Tuesday. According to the report, the index of general business conditions dropped from 6.3 points recorded in September to 1.5 in October, while it was forecast to grow 7.0 points on the month.
An economic activity leading index in Australia decreased in August signaling that the country's economy lost its momentum and this trend may continue, the Westpac and the Melbourne Institute reported on Wednesday. The report showed that Australia's leading index dropped 0.1% from 294.8 recorded in July to a level of 294.5 in the following month.
Inflation in New Zealand increased in the three months ended in September compared to the Q2 missing preliminary economists' expectations, a data released by the Statistics New Zealand revealed on Wednesday. According to the data, consumer prices rose 0.9% in the Q3, while the figure was forecast to record 0.8% increase after it advanced 0.2% in the Q2.
U.S. government sovereign debt was placed under negative watch by the Fitch Ratings, although the ‘AAA' rating was maintained, a report released by the Fitch Ratings unveiled on Tuesday. The report showed that the main reason of placing the ‘AAA' long-term rating and local currency issuer default rating on Rating Watch Negative was persisting deadlock over the federal budget.
German investor sentiment rose for a third straight month in October, indicating on that nation's economy is able to grow despite the problems that U.S government is having. The ZEW index, that aims to forecast economic developments after six months, increased to 52.8 after it reached 49.6 previous month, touching the highest level since April 2010.
U.S. stock-index futures advanced, indicating on that the Standard & Poor's 500 Index will reach the highest level in three weeks, as investors awaited for the end of the partial government shutdown. S&P 500 futures gained 0.2% to 1,707.4 as of 10:44 London time, while contracts on the Dow Jones Industrial Average rose 0.2% to 15,258 today.
U.K. shares rose for a fourth straight day, making it the longest streak of gains since August, as U.S. government talks have showed some progress to end its partial shutdown. The FTSE 100 gained 0.7% to 6,552.16 as of 9:28 a.m. London time and it has rallied 3.4% since October 9. The FTSE All-Share Index climbed 0.6%, while Ireland's ISEQ
Consumer price index in the United Kingdom remained flat at 2.7% in September of this year, while economists forecasted a slight decline to 2.6%. At the same time, the National Statistics Office registered a decrease of the growth pace for producer prices. On the other hand, housing prices surged 3.6% in September. However, wages in the country have posted an
Lawrence Summers, the former Secretary of U.S. Treasury, said on Monday that the country's government has to support internal demand, pointing out that this sector of U.S. economy is the most important. Demand-increasing policy may decrease unemployment and increase GDP. Moreover, Summers is confident that the largest economy in the world will avoid default on its debt.
New car sales in the United States may decline as much as 10% in October, while consumers are not confident about perspectives of the U.S. economy amid continuing Shutdown. Such a negative outlook was given by Hyundai Motor Co. At the same time, analysts remind that September sales have already decreased 4.2%, however, American car makers' Ford and Chrysler sales
Retail sales in the Netherlands dropped 0.7% in August of this year from the previous year, while a month earlier the index rose as much as 0.8%. The Central Statistical Bureau data says that non-food products' sales declined 2.1%, but food sales added 2.7%. Moreover, it is worth pointing out that internet stores registered a 6.1% surge in sales, as
Leaders of the U.S. Senate will most likely reach a temporary budget agreement by Tuesday evening, while the government is closed already for 15 days and the borrowing limit will be hit by October 17. Anonymous sources say that Democratic and Republican plan may include the increase of debt ceiling through February 7, 2014, while the government could be funded
Finance ministers from EU countries announced on Tuesday that such countries as Spain and Ireland may return to financial markets soon. It is said that costs of borrowing for these countries is decreasing, therefore the return on debt markets seems very possible. Ireland, in turn, will make a decision on it in the nearest future, while the country has received