Swiss investor confidence fell for the first time since December, ending a 4-month rally and intensifying concerns that the economic recovery is stalling.
U.K. Prime Minister David Cameron is determined to continue implementing his austerity plan to protect the British economy from the Eurozone debt crisis contagion. The prime minister refused the initiative of the opposition Labour Party to ease his deficit-reduction plan.
Latest US initial unemployment claim data was released yesterday – 370 000 Americans demanded their jobless benefits last week versus a 368 000 consensus forecast. The Labor Department revised the previous reading up to 370 000 from 368 000. EUR/USD gained 30 pips after the news release, but the increase was soon erased by a bearish correction.
Spain sold the maximum targeted amount of debt, 2.5 billion euros, during yesterday's auction with spiking borrowing costs. The interest rate of three-year bonds rose to 4.373% from April's figure of 2.89% while interest rate of five-year bonds surged to 5.106% from 3.374 in March. Meanwhile, yields of 10-year sovereign debt approached 6.334%, the level close to 7% that forced
Japanese stocks added to losses Wednesday on Greek political impasse.
Swiss stocks closed higher on Wednesday amid Compagnie Financiere Richemont SA surprising the market with better than predicted earnings.
Unemployment in the U.K. declined by 45,000 to 2.63 million, Office for National Statistics data showed on Wednesday. The jobless rate fell to 8.2 per cent.
U.S. stocks extended losses on Wednesday.
Inflation in the seventeen nation bloc eased to 2.6 per cent in March from 2.7 per cent the previous month, said the European Union's statistics office in Luxembourg on Wednesday.
Japanese stocks fell on Tuesday on political gridlock in Greece.
Swiss stocks were little changed on Tuesday on political impasse in Greece.
The U.K.'s trade deficit shed in March, driven by exports to the Russia, China and U.S., Office for National Statistics data showed on Tuesday. Trade deficit narrowed to 2.7 billion pounds, down from 2.9 billion pounds in February.
Inflation in the U.S. stagnated in April, restrained by a decline in energy costs. The core consumer price index, which excludes food and energy costs, rose 0.2 per cent, showed Bureau of Labor Statistics data on Tuesday.
Germany helped the Eurozone avoid its second recession in three years. Overall gross domestic product stagnated in the first three months of 2012, compared to the previous quarter, Eurostat data showed on Tuesday.
Japanese stocks closed mixed on Monday.
Swiss stocks lost ground on Monday on concern Greece will exit the Eurozone.
U.K. stocks tumbled on Monday.
U.S. stocks retreated on Monday on a political impasse in Greece.
Industrial production in the Eurozone contracted unexpectedly in March, Eurostat data showed on Monday. Production fell 0.3 per cent from February, when it rose 0.8 per cent.
Japanese stocks declined for a third straight day on Friday after China's inflation eased and factory output rose by less than expected.
Swiss stocks rose on Friday after a report showed U.S. consumer sentiment advanced to the highest level in four years.
Swiss stocks rose on Friday after a report showed U.S. consumer sentiment advanced to the highest level in four years.
U.K. producer prices rose by more than economists forecast in April, led by higher tobacco, alcohol and electrical equipment costs. Prices increased 0.7 per cent from March, said the Office for National Statistics on Friday.
U.S. consumer confidence rose by more than expected in May as consumers became more optimistic on the outlook of the country's economy. An index of sentiment gained to 77.8 from 76.4 in April, said the University of Michigan on Friday.