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
Volume of retail sales in Australia advanced 0.4% in July of the current year on a monthly basis, as the result matched analysts' expectations. It followed an increase of 0.6% in June. Consumer confidence level in the country is rebounding moderately, as it has declined sharply after budget spending cuts and tax rises for the 2014-15 financial year were announced
The Bank of Japan decided to implement no changes to its monetary policy course, while economists expected the stimulus to be widened amid slowing economic growth in the country. Asset purchases remained on the previous level of 60-70 trillion yen. Moreover, the BoJ inflation target of 2% still has to be reached by 2016, as the regulated denied to make
New car registrations in the United States reached a record high number in August of this year, as improving economic perspectives of the country force Americans to invest in durable goods, such as cars. On the annual basis, there were 17.4 million cars bought last month, the biggest number since 2006. Among leaders, Chrysler Corp. deliveries climbed as much as
U.K mortgage provider Nationwide has reported positive movements in U.K housing market, specifically increase in the house prices despite less positive numbers from other commercial and official data providers. According to Nationwide, house prices climbed to 11% over the year to August period, following 10.6% in a month before and above experts' forecasts. On monthly basis price edged up to
Gold traded just below its highest in a week as the tensions in Ukraine have increased the demand for the safe-haven. With the prices rising 0.6% for the week the spot rate for the precious metal was $1,289.03 an ounce, which is a bounce back from its lowest in two months of $1,273.14. Meanwhile, the spot rate for platinum was lower at $1,425.18 an
The economic data of the Euro zone's third wealthiest country continued to disappoint as its jobless percentage rose in July. The Italian unemployment increased from 12.3% to 12.6%, which is a further indication of the distress in the economy. Other signs of it were shown previously as Italy's GDP lost an annualized 0.2% last quarter and retail sales contracted 2.6% for the year last month.
The West Texas Intermediate seems to be heading toward a weekly gain, which would be its first in August. As the US GDP data came out at a 4.2% annualized rate in the second quarter the October futures gained 0.3% and were up 1.2% for the week. With the Texas light sweet trading at $94.75 a barrel Brent for delivery in the same month
The New Zealand Dollar dropped against the Greenback, after recent surveys indicated solid decline in business confidence levels in August. According to ANZ Business Outlook Survey, as few as 24.4% of 1,500 businesses participated expressed confidence in the future business outlook, as well as the economy in August, down from 39.7% in July. Additionally, businesses are expecting a decline in
The Australian Dollar retreated against the Greenback, after Reserve Bank of Australia reported a decrease in the private sector credit growth rate and better-than-expected U.S Gross Domestic Product numbers were released yesterday. The private sector credit growth rate declined in July to 0.4%, from 0.7% in June, slightly falling behind experts' forecast of 0.5%. The personal and business credit grew
The safe-haven Japanese currency was pushed higher as tensions in Ukraine flared up again. Ukraine's president stated that Russian soldiers had entered into Ukrainian territory, which sent the Greenback lower against the Yen and the pair was trading at 103.70. Furthermore, the Euro also declined against the Yen as both the situation in Ukraine and low inflation weighted on the currency and the EUR/JPY pair
The Swiss Franc edged up against the shared currency, reaching twenty-one month high. The demand for the safe haven currency, which was boosted by Mario Draghi's speech at Jackson Hole Symposium and the conflict between Ukraine and Russia, pushed the Swiss Franc to its limits, namely the 1.20 cap. The Swiss National Bank expressed intentions to defend the cap, by
The four biggest Italian banks are seeking up to 27 billion euros in the ECB's first auction of low cost cash. UniCredit is looking to take a loan of 7 billion, while the Banca Monte dei Paschi di Siena would want to receive 3 billion euros. Overall, with the largest economies in Europe either contracting or remaining steady the borrowing programme is looked forward
The British Pound climbed against the Greenback, reaching the weekly high, as traders move away from the U.S Dollar, anticipating weak U.S GDP data for the second quarter. Additionally, experts watch closely CBI report on national retail and distributional sector numbers, which are predicted to surge to +27 points in August from +21 points seen in July. The Sterling advanced
The Yen gained against the Greenback after disappointing performance of the U.S. shared and before negative expectations regarding the U.S GDP numbers for the second quarter due to poor investments and inventories data. Stronger Yen caused a decline in exports, while Nikkei gave up 0.48%. Experts are now focusing on the industrial production and inflation figures for July to be
Wall Street experienced a sluggish trading day on Wednesday as the S&P 500 slowly crept up to a further record high. However, some of the stocks were highly traded after their earnings reports. Notably, Express leaped 12.7% and closed at $16.45, while Best Buy added 6.3%. Overall, the Dow Jones and the S&P 500 were little changed at 17,122.01 and 2,000.12, respectively.
The Australian Dollar edged up against the Greenback, reaching the three-week high after better-than-expected capital expenditures numbers were released. The Australian Bureau of Statistics recorded an increase of 1.1% in capital expenditures during the second quarter, beating the market expectations by a wide margin. Nonetheless, experts predict investments in mining sector to decrease next quarter. Volatility is expected to rise after
The shared currency advanced against the Greenback after reaching the eleven-month low as a result of the Fed Governor speech at the Jackson Hole Symposium. The Euro gained after German Finance Minister Wolfgang Schaeuble commented on Mario Draghi's speech, calling the fiscal policy topic 'over-interpreted'. Experts are predicting more movement from the EUR/USD pair tomorrow, after Germany is scheduled to release
WTI and Brent prices declined as concerns about oil-production vanished, which made traders abandon their longs. The October contract for the Texas light sweet was 0.35% lower and traded at $93.56 a barrel. Brent for the same month lost 0.15% and was at $102.57 a barrel. With supply data showing a smaller inventories decline than expected at 944,000 barrels fuel inventories increased by 1.25
The Canadian Dollar climbed up against its U.S. namesake to the four week high after the news on the Burger King and Tim Hortons multi billion dollar deal came out. The major deal, backed by the world's famous investor Warren Buffet, boosted demand for the Loonie, helping it to gain 0.72% to end at C$1.0870. Additionally, investors are anticipating Canadian
The Australian Dollar climbed to a three-week high as capital expenditure showed an improving outlook for the economy by increasing 1.1% last quarter. With the Aussie rising 0.2% against the US Dollar and the pair trading at 93.57 overall for the month the AUD/USD pair has gained 0.6%. Meanwhile, the Euro also gained against the US Dollar and was trading at 1.3210.
The Japanese Yen gained against the Greenback, rebounding from the seven-month low after the Dollar bulls backed off. Experts forecast positive numbers on soon-to-be released Consumer Price Index, predicting Japanese industrial production to climb 1%, following a sharp decline of 3.4% a period before. Revised inflation numbers predict contraction to 3.4% on a year-to-year basis, from 3.6% expected before. The
The British Pound inched up against the U.S. counterpart after hitting five-month low as traders move attention to the upcoming U.S growth data and U.K interest rate speculations. The Sterling experienced additional pressure after approved mortgage lending number fell in July. Nonetheless, traders keep focus on a possible interest rate hike by Bank of England till the end of the
The New Zealand Dollar gained against the Greenback after reaching six-month low caused, as experts explain, by Reserve Bank of New Zealand intervention. Experts predicted even further RBNZ attempts to decrease high value of the Kiwi, as a way to fuel the export demand in the light of declining fundamentals and negate the negative effect of declining dairy prices (40%