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.
The Monetary Policy Committee of the BoE decided to implement no changes to the monetary policy, as the January 8-9 meeting "minutes" were published on Wednesday. Moreover, despite the considerable decrease of unemployment to 7.1%, the regulator will probably not increase interest rates immediately after it crosses the 7% mark, as they want to see a strong GDP growth in
U.K. public sector continues to decrease the borrowing, with the December data showing the borrowing is dropping more than expected, as the economy recovers after crisis. Totally, the government borrowed 10.4 billion pounds versus 15.1 billion in November. Economists forecasted the December borrowing at 12.3 billion pounds. The country's public debt hit the 75.7% of GDP mark.
The average unemployment rate in the United Kingdom unexpectedly declined in September-October period to 7.1%, almost reaching the Bank of England's target rate of 7%, when the BoE is going to start reducing stimulus. In three months to October the jobless rate was 7.4%. At the same time, the total number of claims for unemployment benefits dropped 24,000, less than
The Index for consumer prices in Australia surprisingly inched up December of the previous year with the annual inflation reaching 2.7% versus a 2.4% forecast. The current RBA's target stands between 2% and 3%. On a monthly basis, the CPI rose 0.8%, decreasing from November's data. There was a significant increase in fruit and vegetable price, while fuel prices dropped
Morgan Stanley, one of the largest American investment banks, decided to decrease its outlook for gold prices for this year and in 2015, as a rise on stock markets reduces necessity to invest in non-risky assets, including gold. Therefore, according to the fresh outlook, analysts' predictions were cut 12% to $1,160 per ounce for this year, while the next year's
Consumer sentiment in Australia registered a decline in January of this year, already for a second consecutive month, pointing on the moderate recovery in the retail sector. A Westpac Index, which measures the sentiment, lost 1.7% to 103.3 points after a 4.8% decline in November. At the same time, the reading above 100 points still indicates that there are more
The European benchmark Brent crude gained on Wednesday trading session after the IEA's report showed that global oil consumption may advance daily by 1.3 million barrels, or 1.4%, to a level of 92.5 million in 2014. Brent for March delivery increased 46 cents to $107.19 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate oil advanced on Wednesday rising for the third straight session on speculation that a government report may show a decline in distillate-fuel stockpiles in the world's largest consumer, U.S. WTI for delivery in March rose 63 cents to $95.60 per barrel on the NYMEX and was last seen at $95.56 as of 3:30 p.m. in Singapore.
The Japanese Yen dropped on Wednesday falling against its most-traded peers after rising earlier this week after the Bank of Japan announced it will keep the monetary easing at a current level pushing the region's share higher. The Yen was traded at 104.33 per U.S. Dollar by 7:25 a.m. London time and it has advanced 0.9% this year, while it
South Korean Won declined on Wednesday trading session touching the weakest level in two weeks after an outlook for the U.S. economy showed that the country is improving suggesting that the U.S. Fed may scale back further reducing demand for emerging-market assets. The Won dropped 0.2% to 1,067.37 a U.S. Dollar in Seoul following a fall to 1,070.40, the least
Japan's stocks increased on Wednesday session after the country's central back revealed that it maintained its monetary easing policy unchanged totaling JPY 60-70 trillion and as consumer lenders and utility companies advanced. The benchmark index Topix jumped 0.3% to 1,299.63 in Tokyo, while the Nikkei 225 Index gained 0.2% to 15,820.96.
The Europe's largest economy is set to grow faster this year as the investors' confidence indicates an improvement in overall economic situation, Jonathan Loynes of Capital Economics said on Wednesday. The country's investors' confidence published by ZEW showed that current conditions index advanced from 32.4 recorded in December to a level of 41.2 the following month.
The Japanese central bank decided to maintain its monetary stimulus plan at a current level and retain its consumer price inflation outlook for the following two years suggesting that interest rate cuts may not be seen in the near future, the BoJ reported on Wednesday. Bank of Japan kept its monetary easing at a level of JPY 60-70 trillion a
India's central bank was recommended to implement an inflation target by an expert committee led by Governor of the Reserve Bank of India Urjit Patel, the country's central bank revealed in a report on Wednesday. The report showed that the committee suggested maintaining the consumer price inflation at a level of 4% with volatile range of +/-2%.
All industry activity index in the Asia's second largest economy recovered in the month of November matching economists' initial projections, the latest data revealed by the Ministry of Economy, Trade and Industry showed on Wednesday. The Japanese all industry activity indicator gained 0.3% on a sequential basis in November after falling 0.4% in the prior month.
A leading index of economic activity in Japan advanced for the third consecutive month in November rising above economists' projections, a report revealed by the Cabinet Office showed on Wednesday. According to the report, the country's leading economic index added from October's level of 109.8 to 111.1 recorded in the following month, while in September the reading was 109.1.
U.S. equities closed higher on Tuesday session with the benchmark index Standard & Poor's 500 snapping its two-day series of drops as materials sector companies advanced, however the Dow Jones slipped as companies reported earnings. The S&P 500 Index added 0.28% to 1,843.80, the Dow Jones industrial average fell 0.27% to 16,414.44 and the Nasdaq Composite index surged 0.67% to
The Australia's currency advanced on Wednesday rising against its U.S. counterpart after a government report showed that the country's inflation increased notable easing speculation that the Reserve Back may cut interest rates further. The so-called Aussie added 0.7% to $0.8863 following a gain to $0.8873 after trading near the lowest level in more than three years at $0.8756.
European shares increased on Wednesday together with Asian markets before a government report showed that unemployment in the United Kingdom declined in November to a level of 7.3% and as jobless claims are forecast to drop by 32,000 in December. The Euro Stoxx 50 Index jumped as much as 0.4% by 7:34 a.m. London time.