Gross domestic product of the world's second largest economy is expected to advance by 7.6% in 2013 compared to preliminary estimated level of 7.5%, which was the country's government growth target, a cabinet report showed on Thursday. According to the report, the Chinese economy may record growth around 7.6-7.7% this year, the weakest rate since 1997-1998 financial crisis in Asia.
The performance of the Japanese economy is likely to remain its recovery momentum after government reports showed an improvement in labour market and consumer spending, however the pace of growth stays questionable, the Bank of Japan minutes showed on Thursday. Japan's GDP rose 0.3% in the three months to September compared to 0.9% increase in the quarter before.
The U.S. currency increased on Thursday hitting the highest level in five years versus the Japanese Yen and stayed firm against its other most-traded peers on expectations the U.S. economy may continue its recovery with a solid pace suggesting that the Fed withdraws its easing program next year. The so-called Greenback strengthened to 104.645 yen earlier on today's session and
Volkswagen AG, the third biggest car manufacturer in the world, will probably sell more cars in China than its main rival GM. At the same time, VW may become the largest foreign car marker in the country for the first time since 2004. Both GM and VW target to sell this year 3 million cars in China. Today, Volkswagen AG
Economic growth in the U.S. will most likely accelerate during the next year, as several indicators show an increase in overall activity across the country. At first, durable goods orders, which include machinery and computers, rose 4.5% in November, the most in last 10 months. Moreover, the property market in the country registers an advance in new home sales, which
Financial regulators of Japan are looking for a possibility to introduce a system, which will supervise the financial sector of the country, especially banks that set such benchmark rates as Tibor. Probably, the authority to supervise this area and prevent manipulations with rates will be given to the Financial Services Agency, which will also be able to set penalties for
Housing starts in Japan jumped in November of this year more than economists predicted, the data from Ministry of Transport, Tourism, Land and Infrastructure showed on Thursday. They grew 14.1% on the annual basis versus 7.1% increase a month ago. Analysts predicted the indicator to inch up only 9.2%. Alongside, the total number of houses that started building reached 1.033
The prices for West Texas Intermediate oil advance for a second consecutive day on Thursday, as economists speculate the U.S. crude stockpiles could probably fall during the previous week. Moreover, internal conflicts in South Sudan pushed the oil production in the country down. Now, WTI futures for delivery in February add 0.4% to $99.65 per barrel, while Brent rises 0.2%
President of the Federal Reserve Bank of Dallas Richard Fisher said on Tuesday that the Fed could decrease the volume of buying assets by $20 billion per month, instead of $10 billion that was supported to the FOMC. He explained that the market could react to such a decision in a quite calm manner. At the same time, Fisher himself
The total number of mortgage approvals in the United Kingdom climbed again in November of this year, as the indicator hit the highest level since December 2009. As British Banker's Association data says, 45,000 mortgages were approved in November versus 43,300 a month ago. Economists explain the advance of new mortgages by the government support program in buying property.
Emerging-market shares increased on Tuesday reaching the highest level in two weeks after the People's Bank of China boosted money supply by injecting funds using open-market operations, it was its first intervention in three weeks. The MSCI Emerging Markets Index advanced 0.2% to 995.04 as of 4:20 p.m. in Hong Kong, the most since December 11.
U.S. Treasuries declined on Tuesday falling to the lowest level in more than three years relatively to stock prices before a government report showed that the U.S. durable goods orders and new home sales rose last month suggesting that the Fed may taper more. The 10-year benchmark bonds yields traded at 2.93% by 8:53 a.m. London time, the most since
Gold traded in London was little changed on Tuesday session as investors weighed whether the recent price drops may result in more physical purchases of the metal and as the global economic outlook improves. Bullion for delivery in December traded at $1,198.77 as of 8:51 a.m. London time falling 0.2% and rising 0.4% during the session.
U.K. equities increased on Tuesday rising for the fifth straight session in a holiday-shortened session before a government report showed that new home sales and durable goods orders in the world's largest economy advanced last month. The broadest FTSE All-share Index gained 0.3%, the Irish benchmark gauge ISEQ Index dropped 0.1% and the FTSE 100 Index jumped 0.4% to 6,702.65.
European benchmark index Brent crude advanced on Tuesday trading session after a survey showed that stockpiles in the world's largest oil consumer, U.S., increased by 1.1 million barrels in seven days to December 20 before the official EIA report. Brent for delivery in February added 3 cents to $111.59 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate crude declined on Tuesday falling for the second straight session and reducing its first monthly gain in four months on speculation that price increases seen recently may be unsustainable. WTI for settlement in February dropped 38 cents to $98.53 per barrel on the NYMEX and traded at $98.77 by 4 p.m. in Singapore.
Wheat fluctuated on Tuesday trading session traded near the weakest figures in nineteen months on speculation that the low prices may spur demand for the commodity as forecasts show record global harvest. Wheat for delivery in March gained 0.4% and dropped 0.3% before trading at a level of $6.09 per bushel on the CBOT as of 4 p.m. Singapore time.
European shares swung between gains and losses on Tuesday in a holiday-shortened session before a government report showed that the U.S. house sales and durable goods orders increased last month. The region benchmark index Europe Stoxx 600 Index gained 0.1% to 323.77 as of 8:12 a.m. London time, while the London's FTSE 100 Index jumped 0.2%.
Industrial production and exports in the Asia's second largest economy are forecast to advance in the near future amid an improvement in economic situation overseas and as public investments are seen to pick-up as they were stabilized at a decent level, the Bank of Japan revealed in a survey on Tuesday. The survey also showed that consumer prices may continue
The gross domestic product of the French economy shrank on a sequential basis in the three months to September cause by a 0.4% decline in investments despite a 0.1% gain in private consumption and 0.2% increase in government spending, the statistical office Ine reported on Tuesday. France's economy fell 0.1% in the Q3 following a 0.6% jump in the quarter
The key interest rates in the U.S. may stay unchanged near a level of zero until 2015, when they are forecast to be increased depending on actual economic situation in the country, the Richmond Federal Reserve President Jeffrey Lacker said on Tuesday. According to Lacker, the Fed's benchmark rates may be lifted to 2% in 2015.
Consumer spending in France increased in November rebounding strongly by the most in 21 months mainly due to a notable advanced in household goods expenditure rising 1.4% on a sequential basis, the statistical office Ine showed on a report on Tuesday. According to the report, the country's consumer spending gained 1.5% year-on-year in November compared to a 0.5% advanced preliminary
U.S. shares closed higher on Monday with benchmark indexes Dow Jones and Standard & Poor's 500 reaching all-time records as the technology gauge was spurred by a distribution agreement between China Mobile and Apple Inc. The Dow Jones industrial average added 0.45% to 16,294.61, the S&P 500 Index gained 0.53% to 1,827.99 and the Nasdaq Composite index rose 1.08% to
The U.S. Dollar stayed flat on Tuesday losing from its recent gains after a government data revealed that spending in the world's largest economy rose spurring the U.S. Treasuries and bringing optimism on markets as the country's economy improves. The U.S. Dollar index added to 80.530 traded near its two-week peak at 80.827, while it surged 0.2% to 104.36 yen.