The U.S. Dollar strengthened on Friday hitting the strongest level in five years against the Japanese Yen and was set to record the best weekly performance since November after a government data unveiled that the U.S. economy grew by 4.1% in the third quarter. The so-called Greenback advanced 0.2% ti 104.42 after reaching the most since October 2008 at 104.64
Global equities advanced on Friday trading session after a report showed that gross domestic product in the country grew at the fastest rate in two years and as the Federal Reserve announced yesterday on the central bank's policy meeting it tapers off its stimulus program by $10 billion. The MSCI all-country gauge added 0.4% to 400.1 points, traded near its
The consumer confidence index in the largest economy of the Eurozone, calculated for January of 2014, inched up to 7.6 points against 7.4 a month ago. On the other hand, economists did not predict any changes of the indicator. Therefore, the value of the index reached its highest level since August 2007. The overall economic expectations among Germans rise already
Retail in sales in Italy slumped for the second month in a row in October of this year, as they lost as much as 0.1% on a monthly basis after a 0.3% decrease in September. Meanwhile, analysts forecasted the indicator either to have to change or to rise 0.1-0.2%. At the same time, on the annual basis retail sales in
The economy of the United Kingdom posted a higher-than-expected growth in the last quarter of the current year, as the economic growth reached as much as 1.9% on the annual basis. It is more than 1.5% that the second estimate showed on November 27. The change happened due to revision in consumer spending data. On the quarterly basis the economy
After the Friday meeting, the Bank of Japan decided to continue stimulating the country's economy, while the inflation rate in Japan may be increased to 2% by 2015. As expected by economists, the BoJ will raise the monetary base by 60-70 trillion yen annually. Moreover, the easing policy led to decrease in the yen's value, which has already lost 17%
The Standard & Poor's rating agency decided to lower the creditworthiness rating of the European Union from the maximum AAA level to AA- amid slow budget negotiations in the EU. Moreover, the rating agency sees the lack of support from some members of the EU. Recently, the S&P has already lowered ratings of various EU member states, including France, Spain
The current account deficit of the United Kingdom surged dramatically in the third quarter of this year, as weak foreign trade and investment pushed the deficit up. It totaled 20.7 billion pounds during the three months till September from 6.2 billion pounds a quarter ago, which equals 5.1% of GDP, the highest ratio since 1989. Analysts predicted the deficit to
The government of Sweden has cut its expectations for economic growth in the country for the current and next year, as exports rebound slower than was initially estimated. At the same time, the government will cut income taxes in order to stimulate growth. The new outlook predicts a 1% economic expansion this year and 2.4% the next year, versus 1.2%
The economy of Finland will register a more considerable drop in the current year, while the pace of growth in next two years will be slower than forecasted before. The Ministry of Finance data shows that the Finnish GDP will decline 1.2% this year, down from the previous expectation of a 0.5% slump. In 2014 and 2015 the economy of
The jobless rate in Brazil surprisingly fell in November of the current year, reaching its lowest value since December 2012. The unemployment rate in the country posted a drop from 5.2% in October to 4.6% in the previous month. On the annual basis, the joblessness showed a positive trend as well, decreasing from 4.9% in November 2012. The total number
The economic growth in Ireland reached its highest pace in more than two years, as the GDP advanced 1.5% in the previous quarter on a quarterly basis. Therefore, the economy surged the most since Q1 of 2011. In April-June the GDP showed a 1% rise. Recently, Ireland exited a bailout program and investment to the country jumped 10.9%. Consumer spending
Canada's currency dropped to a three-year low after the Fed winded down its economic stimulus programme as the officials stated that nation's economy has improved enough to start tapering. The Canadian Dollar slid 0.2% to C$1.0722 per U.S. Dollar as of 8:18 a.m., after it retreated to C$1.0728 earlier, the lowest level in three years.
Gold declined below $1,200 an ounce to the lowest level in five months as the Fed scaled back its monetary stimulus, trimming demand for safe-haven assets. The yellow metal for February delivery slipped 2.4% to $1,205.20 an ounce at 7:59 a.m. in New York, after sliding 3% to $1,198 an ounce. Bullion prices sank into a bear market in April
The current account surplus in the Eurozone inched up in October of this year to 21.8 billion euro, while economists expected the indicator to decline further after September weak data. In that month the surplus was 14.9 billion euro and was forecasted to drop to 14.2 billion euro. Moreover, the ECB data showed that the surplus from trading goods surged
European shares gained and gold slipped after the Fed's decision to slow down its bond-buying programme boosted investor sentiment in the U.S. economy. The Stoxx Europe 600 Index gained 1.5% as of 8 a.m. and it posted its biggest two-day advance in approximately six months. The biggest gainer was Mediaset SpA that rallied 12%.
U.K. shares gained for a second straight day after the Fed's decision to wind down its monetary stimulus programme boosted investor sentiment in the U.S. economy. The FTSE 100 Index added 0.9% to 6,552.98 as of 9:37 a.m. London time and the gauge has advanced 11% this year to date. The FTSE All-Share Index climbed 1%, while Ireland's ISEQ Index
U.S. stock-index futures fell slightly after the benchmark Standard & Poor's 500 Index closed at its record high as the Fed decided to start scaling back its stimulus. S&P 500 futures expiring in March retreated less than 0.1% to 1,804 as of 7:26 a.m. New York time, while Dow Jones Industrial Average contracts slipped 0.1% to 16,106.
The Aussie and the Kiwi dropped versus biggest part of their most-traded peers on speculation that the Fed will continue winding down its monetary stimulus that has supported asset prices. Australia's Dollar slid 0.2% to 88.44 U.S. cents at 4:43 p.m. Sydney time, after it slipped to 88.21 yesterday, while the New Zealand Dollar declined 0.6% to 81.89 U.S. cents.
Emerging-market equities declined on Thursday with the region's currencies falling as the U.S. Federal Reserve announced it reduces its bond-purchases to $75 billion per month while keeping the interest rate at record low. The MSCI Emerging Markets Index fell 0.3% to 989.70 as of 11:09 a.m. London time, the Hang Send China Enterprises Index lost 1.7%, whereas the South Korean
German government bunds increased on Thursday with the 2-year securities gaining and widening the yield-spread with U.S. Treasuries on Fed's decision to taper off its bond-purchasing program by $10 billion a month. Germany's two-year government bunds slipped two basis points to 0.22% as of 11:05 a.m. in London, while the similar-maturity notes in the U.S. traded at 0.34%.
U.K. gilts declined on Thursday falling for the second successive day after a government report showed that retail sales in the country advanced in November suggesting that the nation's economy gathered momentum. The benchmark 10-year government yields added two basis points to 2.95% as of 11:23 a.m. in London, the most since December 6.
West Texas Intermediate crude traded in New York increased on Thursday traded close to the strongest level in one week after a report showed that inventories in the U.S. dropped and as the U.S. Federal Reserve trimmed its stimulus as the economy improves. WTI for delivery in January expiring today rose 6 cents to $97.86 per barrel on the NYMEX.
The total number of applications for unemployment benefits in the United States unexpectedly advanced during the previous week, reaching 379,000. Economists, in turn, predicted this number to decrease to 336,000, on average, from 369,000 a week before. Analysts said that such fluctuations usually take place closer to the end of the year, as they recommend to look at four-week average