Bank of England reported that recent monetary policy easing by the ECB is not expected to improve the labour market in the region. The rate of unemployment is likely to remain high in the following years. According to the best scenario, the EU would see some improvement in its job market in mid-2014, said Adam Posen from BoE.
Australian business confidence improved last month amid signs of recovery in the US and the EU, according to NAB business survey. The country's business confidence gained two points approaching plus three in March, implying that more companies were optimistic about economic perspectives than pessimistic. However, the confidence stayed low, being below its average value of plus six.
Gold futures were flat during Asian trade on Tuesday despite speculation on probable Fed easing measures after pessimistic US labour market data. COMEX gold June contract traded at 1,643.55 US Dollars per troy ounce on the New York Mercantile Exchange, retreating 0.02%.
Crude oil futures declined for the second consecutive day on Tuesday after China reported fall in imports thus adding to the global demand worries. From the supply side, the commodity also lost its support as Iran entered negotiations with Western economies to resolve conflict regarding its nuclear programme. Light, sweet crude oil futures for May delivery traded at 102.16 US
Japan's Nikkei Stock Average index fluctuated between gains and losses on Tuesday after the Bank of Japan announced it will stick to current benchmark rate at around 0.0% to 0.1% Central Bank also said it is not planning extra easing policy. Nikkei 225 index traded close to flat giving up 0.09% or 8.24 points and closing at 9,538.02. Sharp tumbled
France's business sentiment stagnated and manufacturing output declined in previous month putting extra pressure on the winner of upcoming presidential election. An index measuring confidence among industry executives remained unaltered at 95 after slipping in February. Factory output dropped 1.2% in February.
China unexpectedly reported its trade balance reached a surplus in March as import grew less than predicted. Imports rose annual 5.3% compared to an expected growth a bit below 9%. Meanwhile the exports surged 8.9% on yearly basis, creating a surplus of USD 5.35 billion in contrast with forecast deficit of USD 3.15 billion.
Hong Kong's stocks declined on Tuesday as investors anticipated Friday's news about disappointing US hiring level and higher than expected China's inflation rate. Hang Seng index tumbled 1.15% or 236.76 points and closed at 20,356.24 . Cnooc Ltd and PetroChina Co lost 2.4% and 2%, following a recent drop in crude prices. Property shares also contributed negatively to index with
Germany unexpectedly posted a second consecutive increase in its exports in February boosted by demand outside European region. Exports added 1.6% in February compared to a 3.4% gain in January, Federal Statistics Office said on Tuesday. Analysts questioned by Bloomberg predicted a decline of 1.2%. German imports soared 3.9%.
The Bank of Japan (BoJ) decided to keep its key interest rate unchanged between zero and 0.1%, spokesperson said on Tuesday. Representatives of the central bank admitted the foreign economies still are contracting but European financial markets start to show signs of stability. Japanese Yen strengthened versus greenback on the announcement.
Dow Jones Industrial Average index tumbled on Monday as data showed US employers created only 120 000 jobs in March compared to an expected gain of 205 000. Blue chip index sank 1.0% or 130.55 points and settled at 12,929.59, first close price below 13 000 since March 12. Bank of America led the drop, giving up 3.3% while Caterpillar
S&P 500 index traded lower on Monday as investors returned from Easter holidays and incorporated into prices weaker than expected hiring rate in March. US index fell 1.14% or 15.88 points and closed at 1,382.20. Financials weighed on the index with Hartford Financial Services dropping 3% and Citigroup giving up 2.4%. Avon lost 3.1% after the company named Sherilyn McCoy,
China's Shanghai Composite ended the session 0.19% or 4.31 points up at 2,306.55 with technology stocks providing the main positive contribution. Brokerages, property developers and consumer stocks fuelled Chinese markets as regulators raised the investment quota for overseas institutional investors. Cinda Real Estate gained 1.4% and Citic Securities climbed 1.3%. However, China Construction Bank and Industrial & Commercial Bank of
South Korea's Kospi index fluctuated between gains and losses on Friday as lower German factory output boosted concerns regarding the outlook of European demand. South Korean benchmark finished little changed 0.01% or 0.26 points higher at 2,029.03. The main gainers were Kolon Fashion and Sunny Electron which each added 15%. Gains were offset by drug maker Wooridul Pharmac which lost
Japan's Nikkei Stock Average posted a third straight decline on Friday as stronger Yen kept weighing on export shares amid renewed fears over European debt crisis. Nikkei 225 index fell 0.81% or 79.16 points and settled at 9,688.45. NSK Ltd tumbled 3.4% after its rating was lowered by Mito Securities. Kansai Electric Power advanced 2.8% on news the government has
Brazil shares climbed on Thursday as the slowdown in consumer prices increased pressure for central bank to cut interest rate. Ibovespa index added 0.26% or 162.53 points and finished at 63,691.18 with six of nine sectors posting gains. Retailers provided the main upside support for the index with Lojas Americanas gaining 2.3% and Lojas Renner advancing 0.9%. Home builder MRV
Dow Jones Industrial Average declined on Thursday as jobless claims dropped less than expected. The blue chip index lost 0.11% or 14.61 point and finished at 13,060.14 with telecommunications dropping most as AT&T fell 2%. On the upside index was supported by consumer service sector as Home Depot and American Express surged 1.5% and 1.3% respectively. On weekly basis Dow
S&P 500 index prolonged losses on Thursday, experiencing the worst week in 2012. US benchmark shed 0.06% or 0.88 points and closed at 1,398.08. Bed Bath & Beyond rallied 9.2% after the retail-chain operator reported a better than expected 4th quarter profit. First Solar made the biggest drop falling 16% after JPMorgan Chase & Co cut its share price estimate
NZD/USD was decreasing during the last week, forming a Descending triangle pattern. The formation has 76% quality along with 71% magnitude within 117 bars.The price recoiled from the pattern's support level at 0.8123, and slowed testing the resistance at 0.8169. Bullish investors may focus their attention on the key level around 0.8178/97. If the price breaks this level, the forecast
The number of new jobs rose to a four-year record high in March. The overall employment advanced by 82,300 after a drop of 2800 a month earlier. The unemployment rate fell from 7.4% to 7.2%. Economists questioned by Bloomberg predicted a 10,500 improvement in hiring and unchanged jobless rate at 7.4%.
The US applications for jobless benefits dropped less than predicted for the week ended in March 31, Labor Department reported on Thursday. According to data 357 000 people submitted new claims last week. Economists earlier predicted the number of applications to reach 355 000. The US unemployment level was 8.3% in February.
Consumer confidence in US improved last week reaching four year record high as unemployment claims fell. The Bloomberg index measuring consumer sentiment advanced from minus 34.7 previous week to minus 31.4 for the period ended April 1, Labor department said on Thursday. Latest reading is the highest since March 2008.
US stock markets traded mixed on Thursday but closed down for the week. S&P 500 index shed 0.06% or 0.88 points to 1,398.08, Dow Jones Industrial Average lost 0.11% or 14.61 point and finished at 13,060.14. Nasdaq Composite breached the down-trend and climbed 0.4% or 12.41 points to 3,080.50.
The Bank of England decided to keep its benchmark lending rate unchanged at 0.5% despite an unexpected decline in manufacturing output in February.Total asset purchases stayed at GBP 325 billion. The Pound traded lower versus US Dollar on the BoE decision. Most analysts suggest BoE will not implement a further easing in 2012.