The New Zealand Dollar fell to the lowest level in seven months time after the Reserve Bank of New Zealand did not change its stance on the benchmark interest rate and kept it at 3.5%. The Kiwi slid 0.6% to 81.75 U.S. cents early morning in London after probing 81.66 cents. The currency decreased against all of its 31 most-traded peers. Experts
The International Energy Agency reported that the growth in demand in the oil markets has toned down. This has lead to the agency tor reduce its predictions for the remainder of this year. The IEA stated that demand decreased to the level sub-500,000 barrel per day. In addition, the projection for the global demand growth has fallen to 900,000 million
If Scotland votes for its independence, the Royal Bank of Scotland has confirmed that it plans to relocate its headquarters to London. However, the plan excludes moving operations or jobs. The bank regards this as a more technical and legal necessity. Its seems that the bank is safe-guarding itself from negative fallout as the vote will most likely shake up
The Federal Reserve is gearing up for its most important meeting of the year in the following week to debate the issue of the interest rate guidance and the easing of the monetary policy. The exact decisions remain in the shadows; however; there is unease over the further duration of the near-zero interest rate. The rally of the U.S. economy point towards
As China released its CPI, which showed a 2% increase, Japanese shares continued their run, where as energy and consumer stocks lost. The MSCI Asia Pacific Index slid 0.2% to 146.60 midday in Hong Kong, the Chinese Shanghai Composite Index lost 0.3% after its highest since March of last year. The Hang Seng Index diminished by 0.3%. In contrast, Topix
Employment level in Australia surged in August of this year, as companies added more than 121,000 new jobs. However, part-time job creations accounted for 88% of all. Alongside, the unemployment rate dropped to 6.1%, down from 6.4% in July, while participation rate increased to 65.2%. Partly, this dramatic change in figures is explained by rotation in survey group of statistical
The Bank of Japan will maintain its monetary course and will do everything to reach the inflation goal of 2% in the longer term. As the government of Shinzo Abe is preparing to raise the sales tax to 10%, it can negatively influence the consumer sentiment and push inflation down. Last quarter, Japan's economy crashed 7.1% on the annual basis,
Brent traded under $100 for the third day straight in London, the longest streak since April 2013, when it managed to clock in a six-day run. The low price arose amidst the predictions that an economic upturn might create a surplus of supply in the inventories. The prices are set to fall the following year as crude production in the
Many U.S. stocks lost on Tuesday as Apple's shares declined; however, bond yields peaked at the highest level this month amid Federal Reserve speculations on the interest rate increase. S&P shed 13.1 points to 1,988.44, and Dow Jones lost 97.55 points to 17,013.87. Apple's keynote regarding the new iPhones and the Apple watch caused its stock to slide 0.4% to
The Australian Dollar fell for the second day in the row; the Aussie showed a 0.9% decrease Tuesday, carrying on from the 1.0% fall on Monday; it cooled owing to the Greenback's strong climb as speculations arose that the Federal Reserve may raise the interest rate, and, furthermore, it is dampened by higher U.S. Treasury yields. The Aussie slid to
Matteo Renzi, Italy's Prime Minister, stated that Italy's growth for this year might be around zero percent. This prediction is not in accordance with the speculation of the government, which foresaw 0.8% expansion, and now Italy faces its third crisis in 10 years time. Renzi sees the outlook as uncertain, keeping in mind that the economy has shrunk in the
The governor of BoE Mark Carney has stated that if Scotland becomes independent, sharing a currency with the U.K. would be against the idea of sovereignty. In contrast, the Scottish National Party is in favour of keeping the Pound, while other political parties, such as Cameron's Conservative Party have sided with Carney. Scotland now faces quandary as it might be forced
Finance Minister of France Michel Sapin announced on Wednesday that the country will not be able to reduce the budget deficit to 3% at least until 2017, as economic growth equals to zero and overall activity stagnates. As predicted, the budget gap is going reach 4.3% of GDP the next year and will continue declining further. Moreover, GDP growth forecast
The main Japanese stock market Topix Index advanced 0.6% at Wednesday's trading session to close at 1,306.79 points in Tokyo. Therefore, the benchmark has surpassed the highest level since 2008 and recovered all losses of the current year. Exporting companies rise strongly, with Canon Inc. adding 0.8% to 3,495 yen, as weaker yen is pushing up the profitability of local
Advance of core machinery orders in Japan slowed to 3.5% in July of this year, down from 8.8% a month before. Analysts expected the increase of 4%. Calculated year-on-year, the indicator added 1.1% in July. Meanwhile, excluding volatile orders from electric power firms and shipbuilding companies, the remaining ones dropped 13.5% on a monthly basis and rose 6.1% from July
Shares of Telecom Italia and ABB, an engineering group from Switzerland, advanced 3% and 2.7% respectively as Telecom Italia may have found a buyer for its Brazilian wireless operator: the Mexican America Movil and the Brazilian Oi SA. ABB gained on the account of its plans to buy back $4 billion worth of shares, to entice its investors as it
The Pound cooled to its lowest since November, as an opinion poll showed a gain in support for the Scottish independence campaign, a first before the September 18 vote. A positive outcome of the referendum would be a strong hit to the U.K. and the Bank of England, which chose to keep its record-low interest rates. The Pound slid 0.1%
The Dollar kept its gains strong versus the Yen as its pushed towards a six-year high. The Dollar touched a new range as investors found confidence in the U.S economy. In addition, the Federal Reserve is weighing on the increase of interest rates for the following year, with a policy markers meeting set for September 16-17. The Greenback gained 0.2%
After speculations arose that the Federal Reserve might increase the interest rates for the following year, gold abated to a three-month low as the demand for it as a substitute investment contracted. Bullion price stood at $1,255.55 an ounce midday in Singapore. The prices stepped down as much as to $1,251.52 on September 8. The metal has been on decline for four months straight,
The bull market has been going strong, surpassing 2,000 days of activity. Although many have not felt a strong increase in the stock prices, this is the fourth-longest positive streak on Wall Street since 1928. This long run is attributed to a renewed confidence and a return in earnings. The market collapse in 2009 saw the S&P to fall nearly
Bonds of a number of European countries surged on Thursday, as the European Central Bank decided to weaken its monetary policy even further. Yield on 10-year notes for Germany and the U.K. declined below 1%, while 2-year notes of Ireland give a negative return for the first time ever. Moreover, securities from France to Italy have seen an increase in
Industrial production in the biggest economy of the Eurozone added 1.9% in July of this year, as the growth pace picked up from only 0.4% a month before. Economists, in turn, expected a 0.4% gain in July. Year-on-year, the indicator advanced 2.5%. While in the second quarter the economy of Germany slumped 0.2%, the July-September period is likely to show
A total number of new manufacturing in Germany jumped 4.6% in July of the current year, reversing the negative trend of two past months, as in June they dropped by revised 2.7%. Analysts, in turn, forecasted the indicator to add 1.5%. The fastest orders' increase in more than a year heats up the expectations for economic rebound in Germany in
Negative trade balance in Australia decreased to A$1.359 billion in July of this year, as experts predicted the indicator to reach A$1.75 billion after A$1.564 billion in June. The data revealed a 1% increase in exports, while the largest part was contributed by iron ore deliveries' growth of 3.6% to other countries. Analysts are waiting for the improvement to continue