The yearly rate of Consumer Price Index rose from 2.7% in May to 2.9% in June, less than expected, mainly on the higher prices of clothing, motor fuels and footwear. On a monthly basis, the CPI rate declined 0.2%, while the annual core CPI measure rose 2.3%, overshooting expectations. The Bank of England awaits the inflation rate to continue adding
Japanese stocks gained, with the Topix index reaching the highest level in two months at the close, on Japan's earnings optimism. The Topix added 0.7% to 1,210.54 at the end of the trading session and it was the equity-benchmark's highest closing level since May 22. The Nikkei 225 Stock Average climbed for a third straight day, increasing 0.6% to 14,599.12.
Asian shares advanced, with the regional MSCI Asia Pacific Index on course to pare a two-day decline, as Japan's Topix index is set for its highest level at the close in almost two months. The MSCI Asia Pacific Index added 0.5% to 135.53 at 3:51 p.m. Tokyo time. At the same time, this equity-benchmark has climbed 4.3% this year to
The common currency advanced versus the U.S. Dollar, before ZEW survey release which is forecast to show rise in this month, therefore signaling growth in the activity of the biggest European economy. The Euro block's currency gained 0.17% to $1.3084 versus the greenback and inched up 0.09% versus the Pound, and climbed 0.12% to 130.54 against the Japanese Yen.
Canada's currency fell, paring previous week's advance that was the biggest in almost two years, as retail sales in U.S. missed the expectations in June. The Canadian Dollar slipped 0.3% to C$1.0427 per U.S. Dollar as of 5 p.m. Toronto time; moreover, it depreciated for second day in a row after it rose 1.8% past week.
Most European shares inched up as investors expected a report that may indicate German investor sentiment advanced to 40 in July. The Stoxx Europe 600 Index gained less than 0.1% to 297.56. Equities rose to an almost the highest level in six weeks yesterday after U.S. retail sales jumped and China's economic expansion matched expectations.
The British currency gained versus the greenback ahead of the consumer- and producer price report that is expected to show a rise at faster pace in June, according to economists. The Sterling added 0.2% to $1.5133 as of 7:30 a.m. London time after slipping to $1.4814 on last Monday, the weakest since June 2010. The Pound was at 86.46 pence
Treasury yields recovered from the lowest level in a week ahead of data that may indicate industrial output advanced, boosting speculation the U.S. economy has grew enough to start tapering stimulus. The benchmark 10-year note yield gained to 2.55% and the 1.75% bond expiring in May 2023 decreased to 93 2/32. The 30-year bond yield jumped to 3.60%.
The Japanese Yen extended two-day decline versus the greenback ahead of the central bank statements that may signal prolonged monetary stimulus programme in Japan, while U.S. might start tapering this year. The Japan's currency was at 99.76 per Dollar at 6:40 a.m. London time from 99.86 on Monday, while it traded at 130.54 per Euro from day earlier, when it
German 10-year government bunds remained steady ahead of data economists said will indicate investor sentiment in Europe's biggest economy advanced this month. German 10-year note yielded 1.58% and the price of the 1.5% security maturing in May 2023 remained flat at 99.32. The two-year note yield was at 0.11%.
West Texas Intermediate oil futures decreased as investors were awaiting U.S. crude supplies to be posted by the American Petroleum Institute today and more significantly, by the Energy Information Administration tomorrow. WTI crude oil futures retreated 0.20% to $106.11, while Brent futures contracted 0.29% to $108.78.
Gold plummeted on Tuesday following green figures on Monday as investors nervously expect the Federal Reserve Chairman Ben Bernanke's testimony ahead of a congressional committee tomorrow that may provide signs to the markets regarding U.S. asset-buying programme. Gold futures declined 0.30% to $1,279.50 per ounce.
The Aussie inched up versus its 16 most-traded counterparts as officials announced in the latest meeting minutes that the inflation prospects are being influenced by recent currency drops. The Australian Dollar climbed 0.6% to 91.56 against U.S. currency and advanced 0.5% to 91.34 versus the Japanese Yen. New Zealand's currency jumped 0.2% to 78.20 against U.S. Dollar.
The Australian Dollar advanced versus the greenback from its almost three-year low on Friday which occurred after Bernanke's comments to continue stimulus. The Aussie appreciated 0.55% to $0.9092 at 11.31 a.m. EDT just before the RBA is set to publish minutes from the bank's most recent monetary policy meeting at 1:30 a.m. GMT.
Today two reports were released: one showed that U.S. retail sales rose 0.4% in June, less than expected, while other report said general business conditions index climbed unexpectedly from 7.80 to 9.50 in July, implying improving manufacturing activity. Main averages reacted differently on the data. The Dow gauge climbed less than 0.1%, the Nasdaq fell 0.1% ans S&P 500 decreased
Gold advanced as retail sales in the U.S. increased less than projected in June, fueling speculation the Fed will continue monetary stimulus to support growth of the economy. Gold futures for August settlement gained 0.6% to $1,284.80 an ounce as of 10:11 a.m. on the Comex in New York. While silver futures for September delivery added 0.3% to $19.85 an
New York general business condition gauge climbed from 7.80 in June to 9.50 in July, signaling an advance in manufacturing activity in the region. Economists were surprised by the data since the expected value was only 5.0. The gauge has reached the highest level since February when it was 10.0. Also future general business index rose from 25 to 32
Portugal's major political parties and the main opposition party agreed that July 21 is the deadline for an agreement on austerity measures, which President Cavaco Silva demanded last week. The agreement is necessary for a 78 billion Euro bailout requirement execution. When the President called for the pact last week, local stock markets fell 2%, reacting to political instability in
The Japan's Yen declined 0.93% to 100.10 versus the U.S. Dollar at 9:18 a.m. EDT after the retail sales data was published which showed weaker demand than economists projected. Against the Sterling, Japan's currency declined 0.87% to 151.08; and versus the 17-nation currency, the Yen dropped 0.75% to 130.58 on absence of new economic data from the EU.
U.S. retail sales climbed 0.4% in June while economists projected an increase of 0.8%. The data still suggests that sales did advance every month in the second quarter. Largest drivers behind the increase were car purchases which advanced 1.8% and gas sales that rose 0.7%. Gas turnover increased mainly due to higher prices for it, leaving consumers with less income
The ITEM Club released a new study "UK Forecast 2013" that indicated the U.K. economy is forecast to increase about 1.1% in 2013, fueled mainly by a stronger housing market and rise in consumer spending. The study shows that economic growth should accelerate in the upcoming years on recovery in business confidence and investment, also overseas sales are forecast to
U.K. shares climbed to the highest level in six weeks, after the FTSE 100 Index halted its second biggest one-week advance this year, as Chinese economic data matched the expectations. The FTSE 100 gained 0.9% to 6,602.19 as of 8:50 a.m. London time, touching its highest level since May 31. The FTSE All-Shares Index rose 0.9% on Monday, while Ireland's
Switzerland's shares advanced, extending previous week's gains, as China's economic data were in line with expectations. The SMI climbed 0.5% to 8,024.19 as of 10:01 a.m. Zurich time; moreover, the gauge increased 2.6% past week as U.S. earnings season started with Alcoa Inc. beating the estimates and the Fed's Bernanke stated that U.S. economy still needs monetary stimulus. The Swiss
Canada's shares declined, after the biggest advance in 11 months, and raw-materials companies decreased on signals China may endure slower growth and a U.S. Federal Reserve policy maker urged slowing of the asset-buying programme. The Standard & Poor's/TSX Composite Index dropped 0.3% to 12,462.17, after advancing 0.2% earlier.