An advanced in the consumer price index in Japan caused by the Bank of Japan's aggressive stimulus program may not be enough for the country's central bank to attain its 2% inflation target this year, according to Naoyuki Shinohara, the International Monetary Fund Managing Director. Shinohara also said it may take at least 2 years of steady progress in order
U.K.'s car production jumped last year rising to the strongest level in six years as domestic demand advanced together with improved export to non-European countries, the latest data unveiled by the Society of Motor Manufacturers revealed on Thursday. Car production gained 3.1% in 2013 totalling more than 1.5 million units, the most since 2007.
Manufacturing sector of France continues to register a decrease in overall activity, however, the decline slowed in January amid opinions that the economy is recovering faster than predicted. The benchmark PMI Index, which measures the activity in this sector, rose to 48.8 points in January versus 47 a month ago. Analysts forecasted narrower increase of the gauge to 47.5 points.
Manufacturing sector activity in New Zealand decreased in the month December, however the gauge measuring the activity stayed in a positive territory, the latest data revealed by the Bank of New Zealand and BusinessNZ showed on Thursday. The country's manufacturing activity index dropped from 57 recorded in November to a level of 56.4 in the following month.
Inflation expectations in Australia increased on an annual basis in January staying within the country's central bank target in range of 2% to 3%, the Melbourne Institute showed in a report on Thursday. According to the report, the Australian inflation is projected to accelerate by 2.3% in January after it was forecast to record 2.1% in the previous month.
A leading index of economic activity in the world's second largest economy declined notably in the month of December showing weakened economic conditions in 2014, a report published by the Conference Board showed on Wednesday. According to the report, China's leading economic index rose 0.4% to 278.8 in December, after recording a gain of 1.3% in the prior month.
Corporate loan demand in Asia's second largest economy advanced in the last quarter of 2013 rising for the second successive time, the latest report released by the Bank of Japan showed on Thursday. According to the report, the country's loan demand gained from 4 points to 8 in the Q4, while households demand increased slipped from 16 to 11.
European equities fluctuated on Thursday trading session with the benchmark index Stoxx Europe 600 trading close to the highest level in six years after a government report showed that manufacturing activity in China contracted in January. The Stoxx Europe 600 Index gained 0.1% to 336.52 as of 8:21 London time and it has advanced 2.5% this year.
Jobless rate in Spain increased modestly in the last quarter of last year, the latest data revealed by the statistical office INE showed on Thursday. According to the report, the country's unemployment rate jumped from a level of 25.98% recorded in the Q3 to 26.03 in the following quarter matching economist's expectations, while the total number of people without a
The Australian Dollar declined on Thursday trading session after a government report revealed that the manufacturing sector purchasing managers' index in China slowed down in January raising concerns over the country's economic growth. The so-called Aussie fell 0.6% to $0.8789 traded near the lowest level in more than three years at $0.8756.
The total value of new mortgages that have been taken by Australian homebuyers surged on a record pace in November of the last year, as they want to get benefits from very low interest rates. In November Australians borrowed $23.8 billion, a 25% annual jump. At the same time, some analysts expect the RBA's main rate to increase later this
Canada's Dollar declined on Thursday falling against its U.S. counterpart towards the weakest level since 2009 after the Bank of Canada claimed that the Loonie's depreciation may help increase exports from the country. The Canadian Dollar has decreased almost 5% versus the U.S. Dollar this year and was last seen at C$1.1139.
Wall Street closed mostly flat on Wednesday trading session with the benchmark index Standard & Poor's swinging between gains and losses after companies from Verizon to Johnson & Johnson reported disappointing earnings. The Dow Jones industrial average slipped 0.25% to 16,373.34, the S&P 500 Index added 0.06% to 1,844.86 and the Nasdaq Composite Index gained 0.41% to 4,243.
Asian equities declined on Thursday trading session after a government report showed that manufacturing activity in the country surprisingly dropped in January from the month before suggesting that the world's second largest economy may have lost its momentum. The MSCI Asia-Pacific gauge outside Japan lost 1.1%, while the Australian benchmark index fell 1%.
Economic growth in South Korea reached 0.9% in the last quarter of the previous year on the quarterly basis, fully matching economists' expectations. At the same time, the pace of increase slowed from 1.1% in Q3. On the annual basis, economy expanded 3.9%. The biggest contribution was made by exports' growth. In 2014, the Bank of Korea forecasts the GDP
Activity in the manufacturing sector of China unexpectedly dropped in January of this year, reaching the lowest level since July of 2013. The benchmark PMI Index from the HSBC bank fell to 49.6 points in January from 50.5 in December, while analysts expected it to increase. Moreover, the negative climate in the production sector can influence the whole economic growth
The Prime Minister of Japan Shinzo Abe, speaking at the Davos, Switzerland located World Economic Forum, said that Asian countries should decrease the military spending, despite the territorial dispute with China. Instead, the money must be invested in human capital and innovations. In 2013, China increased the military budget to $122 billion, while Japan raised it twice during the year.
U.K. shares were little changed as an advance in the Sterling to the highest level in approximately a year versus the 18-nation currency signaled investors to expect interest rate raise. The FTSE 100 Index slid 0.1% to 6,829.1 as of 3:22 p.m. London time; however, the equity-benchmark has climbed 1.2% this year. The FTSE All-Share Index was little changed as
U.S. shares were little changed as investors speculated on earnings from major companies as Coach Inc. and IBM. The Standard & Poor's 500 Index added 0.1% to 1,844.36 as of 10:05 a.m. New York time, while the Dow Jones Industrial Average fell 0.1% to 16,393.32. However, the S&P 500 advanced 0.3% on Tuesday as the IMF raised its global growth
Canada's Dollar approached its highest level in four years after nation's central bank lowered its inflation estimates and stated that the currency is competitive enough in the global market. The Canadian Dollar dropped 0.9% to C$1.1065 per U.S. Dollar as of 10:37 a.m. Toronto time, after it reached C$1.1066, the lowest level since September 3, 2009.
The Aussie jumped to a one-week high when a government report indicated inflation gained faster then the forecast of economists, boosting the central bank to hold back from interest rates cutting. The Euro slid the most in two months versus the Dollar amid speculation the European Central Bank will slide interest rates. The Australian Dollar added 0.7% to 88.70 U.S. cents after reaching to 87.57 U.S
Gold added after the biggest drop in three weeks due to investors' evaluation of signs of improvement in demand against the monetary stimulus reduction outlook in U.S. The futures of gold for immediate delivery advanced $1,241.48 at 9:23 a.m. in Singapore. Prices slipped 1.1% yesterday, the lowest since December 30. Gold's enhancement of 12-year is ended, since the Fed decided to reduce its unprecedented monetary
The Bank of England does not want to jump to a conclusion regarding the interest rates rise since unemployment declines to 7.1% that is a significant advance for now. Today's data showed that the employment rate dropped to 7.1% within the three months, that in its turn boosted the Pound to strengthen more than 5%, making the British currency the best gainer among of the
Economic expectations in Switzerland unexpectedly decreased in January after reaching the largest level in almost four years in December. The indicator from the Centre of European Economic Research posted a 3 points drop to 36.4 points in January. Meanwhile, analysts predicted the index to surge to 44 points. The indicator predicts the economic development for next ix months.