Analysts have increased their forecasts at the end of the year for the Pound versus the Dollar to the most on speculation the Bank of England is going to rise interest rates before the Fed. The Pound is predicted to trade at $1.62 by December 31, the highest prognosis for the end of the year since November 2011. The U.K. currency dropped 0.2% $1.6606 as
Gold advanced toward the highest level in four month in NY since the tensions between Ukraine and Russia stimulated haven demand and encouraged silver advance. Bullion climbed 12% this year, leaving behind the biggest annual drop since 1981, in spite of the fact the Fed reduced its unprecedented monetary stimulus. Gold for delivery in April added 0.6% to $1,350 an ounce at 11:54 in NY and gained $1,355
European equities increased on Tuesday session suggesting that the benchmark index Stoxx Europe 600 may snap its two-day losing streak mainly due to a rebound of mining companies. Euro Stoxx 50 Index futures with settlement this month gained 0.6% to 3,108 as of 7:15 a.m. London time, while the FTSE 100 Index jumped 0.3%.
Precious metals swung between gains and losses on Tuesday session after falling yesterday as a government report showed that China's exports tumbled by 18.1% last month raising concerns over demand for the metals. Silver for delivery in March added 0.5% to $20.9299 an ounce after falling by 0.6% yesterday, while palladium traded at $775.40 an ounce and platinum slipped to
Gold increased on Tuesday trading session as investors weighed prospects of curbed stimulus measures in the U.S. and escalating geopolitical tension in Ukraine and as exchange-traded products backed by gold rose to the strongest level in 2014. Bullion for March settlement advanced 0.3% to $1,344.02 an ounce and was last seen at $1,342.63 as of 3:20 p.m. Singapore time.
Chinese shares rebounded on Tuesday session with the benchmark stock index CSI 300 rising from the lowest level in a five-year period as property developers and consumer-staple producers led the gain. The CSI 300 advanced as much as 0.5% to 2,108.66 at the close following a drop to the weakest level since 2009, while the Shanghai gauge added 0.1% to
The European benchmark Brent crude slightly advanced on Tuesday trading session before the Energy Information Administration reported that inventories in the U.S., the world's biggest oil user, increased to the highest level in seven weeks. Brent for delivery in April added 5 cents to $108.13 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate crude declined on Tuesday trading session and was last traded near its weakest level in over three weeks on speculation that stockpiles in the U.S., the world's largest oil consumer, advanced. WTI for settlement in April added 13 cents to $101.25 per barrel on the NYMEX as of 3:45 p.m. in Singapore.
Unemployment rate in Sweden declined in February year-on-year matching economists' initial estimates, a survey released by the Public Employment Service showed on Tuesday. According to the survey, Swedish jobless rate slipped from 4.7% in February 2013 to a level of 4.5% in February 2014, while in January the rate stood at 4.6%.
United Kingdom retail sales increased in February, however the pace of growth was notably lower than in the previous month, the latest report published by the British Retail Consortium and KPMG unveiled on Tuesday. According to the report, the U.K. retail sales advanced 0.7% on an annual basis in February after rising by 5.4% in the month before.
Merchandise exports in India declined in February with the figure including re-exports falling annually by 3.67% to $25.69 billion, a report published by the Ministry of Commerce unveiled on Tuesday. According to the report, the country's imports dropped notably at the same time by 17.09% year-on-year to $33.82 billion.
Electronic card spending in retail sector in New Zealand rebounded in February mainly due to an increased in the hospitality industry, a report released by the Statistics New Zealand revealed on Tuesday. According to the report, the country's retail sector spending using credit, charge and debit cards advanced 0.9% on a sequential basis in February after falling by 0.5% in
Japan's M2 money stock increased on an annual basis in February, however the growth was lower than experts originally expected, a report released by the Bank of Japan showed on Tuesday. According to the report, the country's MX money stock added 4.0% in February, while it was estimated to climb by 4.4% after rising by 4.3% in the previous month.
Benchmark interest rates in the world's second largest economy are likely to be liberalized in a period of the next two years suggesting that the People's Bank of China may phase out the cap on deposit rates, the bank's Governor Zhou Xiaochuan declared on Tuesday. Zhou also said that liberalization of rates is on the bank's agenda and is realistic to
Business confidence and business conditions in Australia decreased in February, the latest report published by the National Australia Bank showed on Tuesday. According to the report, the country's reading for business confidence fell from 9 points to a level of 7 points in February, while the business conditions indicator showed a drop from 5 points in January to 0 in
The New Zealand's currency notably increased on Tuesday trading session rising towards the strongest level since 1985 amid expectations that the Reserve Bank of New Zealand may raise its benchmark refinancing rates on Thursday's policy meeting. The so-called Kiwi advanced to 79.51, according to data showed by Reuters.
The Japanese Yen swung between gains and losses on Tuesday session and traded mostly flat against the U.S. Dollar and the 18-nation bloc currency after the Bank of Japan maintained its monetary easing at a current level. The Yen was last traded at 103.30 per U.S. Dollar after fluctuating in a range between 103.20-103.43, while it stood at 143.22 per
The Japanese national bank remained the current level of monetary easing in place on Tuesday's policy meeting after reports revealed that consumer prices and the economic pace of growth stayed on track, however the bank downgraded its exports forecast. The Bank of Japan showed in a report that it maintains bond-purchase program at a level of 60-70 trillion yen a
The majority of Asian shares slightly advanced on Tuesday trading session after falling notably yesterday amid concerns over China's economy posting its largest trade shortfall in almost two years. The MSCI broadest Asia-Pacific gauge outside Japan increased 0.3% after losing 1.3% on Monday, while the Japan's Nikkei 225 gained 0.6%.
The Australian Dollar declined on Monday falling for the second successive day versus the U.S. Dollar after a government data showed that Chinese trade balance came in shortfall of 18.1%, the highest deficit in 2 years. The so-called Aussie lost as much as 0.6% to 90.18 U.S. cents as of 11:02 a.m. in New York following a gain to the
The European benchmark Brent crude slipped on Monday as demand for crude oil increased in the Northern Hemisphere's winter as refineries boosted production of heating fuels and as China reported a notable drop in exports last month. Brent for delivery in April dropped 0.9% to $107.97 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate crude declined on Monday trading session after a government report showed that exports in China, the world's second largest oil consumer, surprisingly decreased by 18.1% in February. WTI for settlement in April slipped as much as $1.53 to $101.05 per barrel as of 11:13 a.m. on the NYMEX.
Exports in the world's second largest economy tumbled surprisingly in February, while imports in the same month accelerated, a report released by the General Administration of Customs showed over the past weekend. According to the report, the country's exports slipped notably by 18.1% in February after rising by 10.6% in the previous month.
Retail sales in Switzerland slowed down in January mainly due to a notable decline in non-food sales, the latest data published by the Federal Statistical Office unveiled on Monday. According to the data, the country's retail sales advanced 0.3% on an annual basis in January, easing after rising by 2.5% in the month before.