According to the Office for National Statistics (ONS) figures, the unemployment rate in the U.K. fell by 46,000 to 8.0%, or to 2.56 million. The improvement by 0.2% may be explained by the Olympics, which took place in London. Still, the number of people, who are working part-time reached a 20-year peak, and added 16,000 to 1.42 million in the second quarter.
The world's biggest economy is improving, since the Fed's last policy meeting on August 1. Goldman Sachs raised its GDP growth forecast in the third quarter to 2.3%. Additionally, latest better-than-expected fundamentals may influence Fed's decision about launching another massive bond-buying program, or introducing QE3.
The U.S. Dollar strengthened versus the shared currency on Wednesday, as European leaders do not act in order to bolster Eurozone's economy. The EUR/USD currency pair dropped 0.33% to $1.2281, while the ICE Dollar Index added 0.14% to 82.66. The greenback was also supported by improved U.S. fundamentals, such as inflation and industrial production.
German shares declined on Tuesday despite positive data from the US. Concerns over the global economic instability continued to weight down on German stocks. German DAX Index lost 0.59% to trade at 6,941.62 at GMT 12:00. Eight out of nine industries retreated. Utilities managed to climb. RWE slid by 1.18% while E.ON added 0.93%.The biggest losers were telecommunications and technology
UK stocks declined on Tuesday as support from hopes for stimulus measures from the ECB started to fade. Meanwhile, positive data flow from the US restricted the downswing of the equities. The FTSE 100 Index lost 0.0% to trade at 5,835.43 at GMT 12:00. Six out of ten sectors included in the index dropped. Technology and health care firms buoyed
Hong Kong shares plunged on Tuesday amid worries that China's economic slowdown will weight on domestic demand. However, speculation that the PBOC will announce stimulus measures provided slight support for Chinese equities. The Hang Seng Index tumbled by 1.18% to end Tuesday's session at 20,052.29. Only two in ten industries included in the index rose. The top-gainer was consumer services
Rural commodities extended previous losses on Tuesday as favorable weather in Brazil and India is expected to increase crops. At the same time, drought in the US and Russia limited the downswing of the farm commodities. Wheat declined despite strengthening demand from major importers amid lower crops in the US and Russia. Corn slumped on speculation that recent rally may erode
Japanese stocks retreated on Wednesday as financials and utility companies slumped. Reports that euro-area GDP contracted in Q2 created notable pressure on Japan's equities. However, positive headlines from the US supported stocks. The Nikkei 225 Index lost 0.05% to trade at 8,925.04. A half of the sectors included in the index advanced. The biggest gains posted telecommunications and technology companies.
Energy commodities edged up on Tuesday amid upbeat US and German data. US PPI and retail sales advanced more than expected last month. Meanwhile, traders are cautious ahead of US crude oil inventory report due on Wednesday. Crude oil climbed on hopes that positive economic trends in the US and Germany will boost energy demand. Brent oil was slightly higher amid potential
The Dow Jones Industrial Average managed to climb 0.02% to close at 13,172.14 amid positive news from the US. US retail sales and wholesale prices increased more than expected last month. However, optimistic data failed to boost US stocks as hopes for more stimulus measures from the Fed started to fade. Five out of nine industries included in the index
The IBD/TIPP Economic Optimism Index tumbled by 1.4 points or 3 per cent in August, and reached 45.6 against 47 in the month earlier. The Index dropped to its lowest reading of 2012 so far, and reading below 50 indicates pessimism. Meanwhile, in December 2007 the reading was at 44.4 level, when the world's biggest economy fell into the recession.
PPI in the world's biggest economy jumped more-than-expected, by 0.3 per cent in July, after increasing by 0.1 per cent in the previous month. Meanwhile, core prices also advanced, adding 0.4% in July. The Fed uses core prices as a better measure for future inflationary pressure, as they do not take in to account energy and food categories.
According to the U.S. Census Bureau's report, nation's business-inventories added 0.1 per cent in June, after jumping 0.3% in the previous month. The data came below the expectations, as analysts expected an increase of 0.2%. The modest June increase in business- inventories pushed total business stockpiles up to $1.58 trillion.
Wall Street edged higher on Tuesday, boosted by better-than-expected U.S. retail sales data and the improvement of Germany's economic growth. The Dow Jones Industrial Average added 0.2%, to 13,189, the S&P 500 jumped 0.3%, to 1,408, and the Nasdaq Composite gained 0.3%, 3,030. Germany's GDP added 0.3 per cent in the Q2, while French GDP was unchanged. Retail sales in the U.S. rose by 0.8%, after
The Commerce Department reported on Tuesday that U.S. retail sales added 0.8 per cent to $403.9 billion in July, and rose by 4.1% compared to the same month in the previous year. In the meanwhile, consumer spending slowed to a 1.5 per cent annual growth rate in the second quarter, after adding 2.4 per cent in the first quarter.
Industrial metals were mixed on Tuesday, with nickel and copper rising and aluminum and zinc falling. Positive data from the US and Eurozone boosted market sentiment. Germany's GDP grew slightly more than expected in Q2 while US retail sales beat estimates in July. Aluminum was steady as positive headlines from the Eurozone and US did not manage to outweigh recent dismal
US stocks closed lower on Tuesday despite better than expected US data releases. US core retail sales and producer prices beat economists' forecasts. Positive news from the Eurozone also boosted US stocks. However, the S&P 500 Index lost 0.01% to end the day at 1,403.93. S&P 500 constituents were mixed; four industries declined, four advanced and one was unchanged. On
Precious metals were mixed as hopes for EQ3 in the US started to fade after strong retail sales data. US retail sales rose by 0.8% in July compared to a forecast of a 0.3% increase. Broadly stronger US Dollar also weighted down on the commodity group. Gold was the worst performer as hopes that the Fed will ease its monetary
Copper has cut earlier rally as concerns about the global growth boosted worries about demand for metals. On Wednesday, three-month copper dropped 0.2% to $7,401.25 per tonne. But declines were capped by belief in additional stimulus actions from China as a think-tank official said the country must find pro-growth policies during next quarter or it may miss its annual expansion
Some Bank of England policymakers wanted to step up the central bank's monetary stimulus programme in August, minutes for the August 1-2 show. All of nine members of the MPC agreed to sustain the BoE's asset purchase objective at the 375 billion Pound, but some believed there was a room for more. They demanded more time to estimate the impact
The number of people applying for unemployment benefits in the U.K. fell in July and jobless rate declined, the U.K. Office for National statistics reported on Wednesday. The claimant count dropped 5,900 in July, compared to an estimated rise of 6,000. The unemployment rate slid to 8.0% from 8.1%. Following the data, the Pound rose 0.12% to 1.5695 versus the
The non-performing loans of China's banks held unchanged in the second quarter, the China Regulatory Commission said on Wednesday. The average bad loan ratio was at 0.9%, stable from the first quarter. Meanwhile capital adequacy ratio came in at 12.9%, up from 12.7% in the preceding quarter.
Australia's consumer confidence weakened in August despite government pay-outs and interest rate pares, as reported on Wednesday. The Melbourne Institute Index of Consumer Confidence fell 2.5% to 96.6 this month. The index was below the 100-mark line, displaying pessimistic views on the economy, for the sixth consecutive month.
U.S. Treasuries cut a two-day fall before a report on Wednesday expected to post U.S. inflation is stable. 10-year yields dropped 1.5 basis points to 1.72% on Wednesday, after reaching 1.74% yesterday. 1.625% note due in August 2022 gained 1/8 to 99 3/32. Consumer prices increased 0.2% on month in July, the survey reported.