Gold futures gained to approximately four month high as purchases from China and a declining Dollar fuelled metal's demand. Gold for April delivery gained 0.9% to $1,285.70 an ounce as of 8:04 a.m. New York time, after it approached $1,288.30, the highest level since November 18. The yellow metal for immediate delivery rose 0.9% to $1,286.64.
The British currency gained to the highest level in approximately a week versus the greenback after U.K. retail sales grew in January. The Sterling added 0.3% to $1.6451 as of 1:47 p.m. in London, after appreciating to $1.6471, the strongest level since January 31. The Pound climbed 0.2% to 83.05 pence per Euro, after strengthening to 81.68 pence on January
The U.S. Dollar reversed previous losses as Fed's Chairman Yellen stated that there should be put some more effort to restore the labor market. The Bloomberg Dollar Spot Index, slid 0.1% to 1,023.06 as of 8:48 p.m. in New York, reaching the weakest level since January 14. The greenback declined 0.2% to $1.3667 per Euro, while it gained 0.2% to
According to the new outlook from the Bank of France, economic growth in the second-biggest country of the Eurozone may slow to 0.2% during first three months of the current year. In the fourth quarter of 2013 the GDP advance is predicted at 0.5% on a quarterly basis. Meanwhile, business confidence and activity in manufacturing and service sectors continues to
The trade balance of India improved considerably during the last year, as exports jumped 3.8% in January on the annual basis, reaching $26.75 billion. Imports, in turn, plummeted 18.1% to $36.67 billion, while oil purchases declined 10.1% and imports of other products slipped 22%. Therefore, the country's trade deficit narrowed to $9.91 billion in January, down from $18.98 billion a
Barclays Plc, the second-biggest bank in the U.K., announced a decline in its year 2013 profit amid compensation and litigation charges. The pretax profit reached 5.2 billion pounds, down 26% from 7.05 billion pounds a year ago. Analysts expected the net profit to reach 5.4 billion pounds. Moreover, today the bank announced that up to 12,000 jobs will be cut
Tomorrow, the U.S. House of Representatives plans to have a vote on the debt limit increase, while the deadline has already been passed on February 7, meaning that the Treasury started to implement special measures to prevent technical default. According to the plan, borrowing will not be limited, however, the Treasury will be allowed to issue bonds only until March
Gold futures increased on Tuesday continued to rally towards the strongest level since November after purchases from China accelerates extending last year's consumption and as investors expect further cuts of the U.S. stimulus measures. Bullion for settlement in February gained 1% to $1,287.81 an ounce, the most since November 18, and was last traded at $1,283.05 as of 1:03 p.m.
The European benchmark Brent crude increased on Tuesday trading session before the Energy Information Administration showed in a report that diesel and heating oil inventories in the U.S. dropped by 2.13 million barrels in the week ended on February 7. Brent for delivery in March added 7 cents to $108.70 per barrel on the London's ICE Futures Europe exchange
West Texas Intermediate oil increased on Tuesday trading session hitting its highest level in a six-week period on speculation that distillate stockpiles in the U.S. declined after the recent cold weather boosted heating fuel demand. WTI for settlement in March added 2 cents to $100.08 per barrel on the NYMEX as of 2:34 p.m. in Singapore.
Retail sales in the United Kingdom increased in January with the non-food sales rising by 5.1% in the Q4 and food sales advanced only by 0.8% in the Q4, the latest data unveiled by the British Retail Consortium showed on Tuesday. According to the report, the Retail Sales Monitor of the BRC showed retail sales gaining 5.4% in January from
A leading business group in the United Kingdom upgraded its economic growth projections on Tuesday citing an improved business investments as borrowing costs declined, the Confederation of British Industry revealed on Tuesday. The CBI forecast the nation's economic growth to record 2.6% this year, more than preliminary estimated 2.4% in November.
Business confidence in Australia increased in January and recording first improvement in a four-month period, a report published by the National Australia Bank showed on Tuesday. According to the report, the Australian business confidence index gained from Plus-6 to a level of Plus-8, while business conditions rose from Plus-3 in December to Plus-4.
Australia's house prices increased on a sequential basis in the last quarter of 2013, the latest data revealed by the Australian Bureau of Statistics showed on Tuesday. According to the report, the country's house prices rose 3.4% in the Q4 missing an initial projection of a 3.0% advance, while in the quarter before house prices added 2.4%.
Australia's home loans declined in the last month of 2013 with the total figure missing an initial economists' forecast when standing at 51,692, a report published by the Australian Bureau of Statistics showed on Tuesday. According to the report, the country's home loans fell 1.9% on a sequential basis in December, while it was forecast to record an advance of
The digital currency Bitcoin declined on Monday trading session on one of the digital marketplace based in Tokyo Mt. Gox falling towards the weakest level in almost two months as halt of withdrawals will continued amid unspecified technical issues. Bitcoin fell 27% to a level of $500 from Friday's level of $692, it was last seen at $595.74.
The Australian Dollar strengthened on Tuesday rising towards the strongest level in four weeks after a government report showed that the country's business conditions indicator advanced to the highest level in almost three years last month. The so-called Aussie gained as much as 0.6% from Monday's session to $0.9004.
The U.S. Dollar declined earlier on Tuesday trading session falling towards the lowest level in two weeks versus majority of its most-traded peers ahead of testimony of the new Federal Reserve Chairwoman Janet Yellne today. The U.S. Dollar Index slipped 0.1% to 80.544 following a drop to the lowest level since January 29 at 80.498.
The majority of Asian shares remained firm on Tuesday trading session before the U.S. Federal Reserve Chair Janey Yellen speaks today before the Congress suggesting whether the bank will continue cutting its bond-purchasing program further. The MSCI Asia-Pacific gauge outside Japan advanced 1.1%, while the Hong Kong index jumped 1.6%.
Wall Street closed slightly higher on Monday session amid upbeat mood among investors before the new U.S. Federal Reserve Chairwoman Janet Yellen testified before the House of Representatives on Tuesday. The Dow Jones industrial average rose 0.05% to 15,801.79, the Standard & Poor's 500 Index added 0.16% to 1,799.84 and the Nasdaq Composite index gained 0.54% to 4,148.17.
Canadian shares gained to the highest level in two weeks, advancing for a fifth consecutive day, as silver and gold prices rose ahead of Fed's Chairman Yellen's testimony tomorrow. The Standard & Poor's/TSX Composite Index added 0.3% to 13,824.93 as of 10:16 a.m. Toronto time and it has climbed 1.5% this year to date. Gold advanced to the highest level
European shares were little changed as some major companies advanced, compensating for industrial production in France and Italy that missed forecasts. The Stoxx Europe 600 Index added 0.1% to 325.49 as of 2:04 p.m. London time. The equity-benchmark rose 0.8% previous week, making it the first climb in three weeks.
Gold gained to the highest level in two weeks as it had the longest advance since August, as U.S. unemployment report disappointed and Chinese buyers resumed buying after holidays. The yellow metal for April delivery added 0.8% to $1,273.10 an ounce as of 7:38 a.m. in New York, after it touched $1,276.20, the highest level since January 27.
U.K. shares were little changed, after they advanced for three consecutive days, as a climb in gold miners compensated a drop in energy suppliers. The FTSE 100 Index added 0.1% to 6,579.67 as of 2:02 p.m. London time. The regional benchmark index advanced 0.9% past week as payrolls missed expectations. The FTSE All-Share Index increased 0.2%, while Ireland's ISEQ Index slid