Core durable goods orders in the US declined unexpectedly in April, falling by second month in line. Orders of core durable goods dropped by 0.6% on a seasonally adjusted basis, confronting forecast of a 0.9% rise, reported the US Census Bureau. Meanwhile, total orders of durable goods eased up by adjusted 0.2% last month while experts predicted a 0.5% gain.
Consumer prices in Japan increased by 0.2% last month, being spurred by rising energy costs. The figure still is below the target of central bank of 1%. Energy costs soared by 4.7% in April, indicating that the government's hopes that Japan managed to avoid deflation seem premature, said Martin Schulz from Fujitsu Research Institute.
Crude oil prices decreased in Asian trade on Friday as elevated US inventories and global manufacturing slowdown lingered demand concerns. From the supply side, the commodity was also pressured as talks between Iran and six major economies progress. Light, sweet crude oil futures for delivery in July traded at 90.552 US Dollars per barrel on the New York Mercantile Exchange,
Gold prices declined during Asian session on Friday, being pressured by global growth concerns and broadly stronger greenback. The US Dollar Index that monitors its performance against a set of six main currencies gained 0.04% to 82.47 US Dollars. COMEX gold June contract traded at 1,552.95 US Dollars per troy ounce on the New York Mercantile Exchange, declining by 0.29%.
US manufacturing expansion slowed this month as exports continued to soften. Markit PMI attained thee-month low of 53.9 as compared to a previous month reading of 56.0. Markit attributed the slowdown in manufacturing growth to weaker exports in the EU and China. Recent fall in durable goods orders also contributed to a decline, indicating that businesses are not willing to
JP Morgan cut its Australia's growth forecast for 2012, but the bank still expects mining boom in the country to stimulate economic expansion. The investment bank now predicts Australia's GDP to grow by 2.7% this year as compared to an initial expectation of a 3.0% expansion. It also lowered growth forecast for 2013 from 3.3% to 3.0%. JP Morgan cited
Natural gas futures declined during late US trade on Thursday after IEA reported that US inventories increased by 101 billion cubic feet on an annual basis last week, being higher than five-year average change of 97 billion cubic feet. Natural gas futures for June delivery traded at 2.707 US Dollars per million Btu on the New York Mercantile Exchange, tumbling
The number of individuals who applied for jobless benefits in the US decreased by 2,000, approaching 370,000 last week, reported the US Labor Department. The figure is in compliance with expectations. The number of unemployment claims remained below the mark of 400,000, indicating that job market is recovering. After the data release, the US Dollar appreciated against the Euro and
Canadian stock still remains on its road of gains by increasing the value on Thursday, due to a rise in industrial, as well as consumer staples stock. The Composite Ratio (S&P/TSX ) added to gains 39.18 points, 0.3 per cent increase, and went up to the number of 11,603.98.The Capped Industrial Ratio(S&P/TSX) rose by 0.7 per cent and the Capped
The dollar's slight decreased on Thursday has lifted up the single European currency from its 22 moth long road of loss against the currency. The greenback has felt after the United States' last data release and a significant drop of the Sweden currency's value. The euro's value on the European market, during the trading time, was $1.2514, then the currency has
Gold futures jumped on Thursday, recovering from the road of loses of the previous session, in order to track other products' rises and equities of the United States, due to the dollar's decrease in strength.Gold, which is prepared for distribution in June, has risen in value by $25.60, 1.7 per cent increase, to the number of $1,574.10 for an ounce
Agricultural commodities went down despite the fact that weather conditions in the US and Russia may deteriorate thus restricting global supplies.Wheat declined despite reports that hot and dry weather in the US, Russia and Australia may spur the largest fall in world's supplies since 2003.Corn increased for the first time in the last three trading days as unfavorable weather conditions
Energy markets were mostly lower on Wednesday as Iranian talks are likely to bring positive results. At the same time, demand may drop amid dismal manufacturing performance worldwide.Crude oil tumbled below 90 US Dollars per barrel after Iran agreed to allow international inspectors to examine aspects regarding the country's nuclear program.Brent oil eased down amid strong US Dollar and higher
Industry metals fell on Wednesday as economic instability in the Euro Zone remained the main threat to global expansion.Aluminum declined as many producers started to close down smelters because of low prices.Copper approached more than four-month low after the EU leaders agreed that each member has to get prepared for possible Greece's exit from the Euro Zone.Nickel extended previous losses
Precious metals extended previous losses on Wednesday, being pressured by broadly stronger US Dollar and unfruitful talks between the EU leaders.Gold dropped after US reported inspiring US home sales data that faded hopes for more easing measures from the Fed.Silver fell as weak global equities and persistent turmoil in the Euro Zone continued to push the white metal down.Platinum continued
European stocks returned to growth, despite services and manufacturing purchasing managers indices across Europe and German business confidence shrank more than expected. The Stoxx Europe 600 Index added 1.0 percent to 241.81. Cable & Wireless Communications Plc soared 19 percent. Sonova Holding AG gained 2.5 percent. Bayer AG declined 1.1 percent. U.S. futures and Asian stock little changed. S&P 500 futures gained 0.3 percent, MSCI
Bank of England revised UK's GDP growth in the first three months of 2012 to -0.3% instead of initially estimated -0.2%. Adjustment was made due to revised results in UK's building sector. Initially estimated 3% decline turned out to be 4.8% decrease in construction sector. In comparison to the same period last year UK's economy shrank 0.1%. This is the
The purchasing managers index across the single currency area shrank in May at the fastest rate since mid-2009. The composite purchasing managers index lost 0.8 points and now stands at 45.9. The manufacturing PMI decreased to 45.0, down from 46.1 last month, while the services PMI dropped to 46.5 from 46.9. An indicator below 50 indicates activity shrinkage. Chris Williamson of Markit argues
German business confidence index fell more than anticipated in May. Business climate index published by IFO institute in Munich, which surveys 7000 executives in Germany, missed the estimation by 2.5 and decreased to 106.9. Additionally, current situation sentiment fell by 4.2 to 113.3 with excecutives' expectations gauge decreasing by 1.8 to 100.9. After the report Euro lost 0.4% against the majority of
Crude petroleum futures decreased this Wednesday as expectations of Iran's business collaboration with International Agency of Atomic Energy alleviated problems of global supply, while an increasing possibility of Greek's exit from the bloc strengthened the opinion that demand for oil will fall further. The recently published by the government of the United States rates on oil supplies increased the pressure on petroleum prices.
European shares faced the biggest decrease in value during the last month due to the growing concern regarding Greece leaving the Euro zone, while European countries' leaders were meeting in Brussels. The Stock Exchange Group(Plc) in London fell the most during two an a half years, following a sale made by UniCredit (SpA) and Intesa Sanpaolo (SpA) of their combined stake,
BoJ did not change its assessment of the economy in May but became more optimistic, as it finds more evidence of recovery. Its monthly report mentions improvements in private and business investments. The Bank of Japan said that they expect the economy to start recovering as growth in partner economies picks up. They also predict that construction sector will strengthen,
The US Dollar followed bullish trend on Thursday as Germany disapproves issuance of Eurobonds that may help to ease Greek debt burden. Traders are also cautions ahead of Euro Zone's manufacturing data release due later today. The US Dollar index, which tracks the greenback's performance against six main currencies, gained 0.09%, attaining 82.24 at the time of writing.
Most Asian markets lost ground on Thursday after weak data from Chinese manufacturing sector and fruitless EU summit. The euro touched its 22-month low of USD 1.2545, as European leaders took opposite stances on the euro zone debt crisis. During Asian trading the price stabilised at USD 1.2582. Japanese companies with strong ties to the EU fell behind the Nikkei which fell 0.5%. The U.S.