Prime Minister of Japan Shinzo Abe declared that the country's government will rise up the sales tax in April 2014 as planned and the new stimulus package was confirmed to be JPY 5 trillion, a document published by the Cabinet Office showed on Tuesday. The consumption tax will be increase by the government from current level of 5% to 8%
Business activity in the U.S. manufacturing sector accelerated for the fourth successive month in September, when the pace of growth exceeded original estimates, a report released by the Institute for Supply Management unveiled on Tuesday. The report showed that the purchasing managers' index rose from 55.7 in August to 56.2 recorded in September.
Emerging-market shares moved up on Tuesday increasing for the first time in a six-day period after a report showed that Indonesian trade surplus exceeded forecast and as the U.S. Congress deadlock caused a partial shutdown of the U.S. government. The MSCI Emerging Markets Index gained 0.4% to 991.28 at 2:19 p.m. Hong Kong time reversing a previous 2.8% fall.
Manufacturing activity in Switzerland expanded at a faster rate than economists originally expected in the month of September, a report published by procure.ch and the Credit Suisse revealed on Tuesday. According to the report, the purchasing managers' index advanced from 54.6 points in August to a level 55.3 recorded in September, while it was forecast to rise to 54.9.
Manufacturing activity in the 17-nation bloc advanced at a slower rate in September after it recorded the highest level in 26 months in August, a survey released by the Markit Economics revealed on Tuesday. According to the survey Eurozone's purchasing managers' index fell from 51.4 points in August to a level of 51.1 in September, however, manufacturing sector rose for
Inflation in Indonesia eased surprisingly in the month of September after the nation's central bank increased its benchmark interest rates four times in 2013, a report released by the Statistics Indonesia showed on Tuesday. The consumer price index slowed down to 8.4% last month from the highest level in four years recorded in August at 8.79%.
According to the Eurostat data, the unemployment rate in the common currency zone decreased to 12% in August of this year, while economists predicted the rate to be stable from July reading of 12.1%. Totally around 19.178 million people were unemployed by the end of August. The smallest jobless rate is registered in Austria (4.9%), while the largest rates are
Activity in the manufacturing industry of the United Kingdom continued to expand in September, but the rate of increase decreased slightly. The benchmark PMI Index declined to 56.7 points from 57.1 points in August, while analysts forecasted the index to advance to 57.3 points. Still, the index value above 50 points indicates the rise in manufacturing, which accounts over 12%
Platinum and palladium advanced on Tuesday trading session as safe-haven demand for precious metals rose after the U.S. government partially shut down in Washington for the first time in 17 years. Platinum futures increased 0.4% to $1,409.97 an ounce following a 0.6% drop earlier on the session to $1,395.13, the lowest since July 11, whereas palladium gained 0.6% to $72758
Gold and silver advanced on Tuesday trading session after demand for the metals as haven increased amid rising concerns that recovery of the world's largest economy may be endangered after the U.S. government partially closed today. Bullion for delivery in October added 0.6% to $1,337.49 an ounce and was traded at $1,335.18 as of 3:09 p.m. Singapore time, while silver
India's currency gained on Tuesday reversing from previous two-day loss after better-than-expected results of current-account deficit overshadowed concerns that a partial shutdown of the U.S. government may reduce capital inflows. The Rupee jumped 0.4% to 62.3650 per U.S. Dollar at 10:34 a.m. Mumbai time after it lost 4.9% in the month of September.
Rubber fluctuated on Tuesday trading session and it was traded lose to its lowest level in a month as Japan's government report showed favourable results of the country's manufacturing confidence and as investors awaited U.S. government shutdown. Rubber for delivery in March was traded at 256.6 Yen per kilogram, or $2,695 a metric ton, as of 11:34 a.m. in Tokyo.
West Texas Intermediate crude dropped for the third straight day on Tuesday amid speculation that the demand for the commodity may be reduced by the possible economy slowdown after the U.S. government partially shut down today. November WTI futures decreased 49 cents to $101.84 a barrel on the NYMEX and were traded at $102.16 as of 3:19 p.m. in Singapore.
Government notes of Japan increased on Tuesday pushing the benchmark 10-year yields to the lowest level in five months after demand for the bonds rose on today's auction. The benchmark 10-year government bonds yielded at 0.66% as they fell 0.02% at 4:18 p.m. Tokyo time following an earlier drop to the lowest level since May 10 at 0.655%.
Italian unemployment shows signs of worsening, as the joblessness rate in the country added 0.1% to 12.2% in August, while the July rate was revised up to 12.1% from 12%. Economists, however, did not forecast any changes. Alongside, youth unemployment reached 40.1% from 39.7% a month earlier. The government of Italy expects the unemployment to hit 12.4% by the next
South Korean currency increased on Tuesday reversing previous loss after demand for the U.S. Dollar was reduced as the U.S. government shut down partially for the first time in seventeen years amid a deadlock in Congress. The Won advanced 0.1% to 1,073.56 per U.S. Dollar at the close in Seoul following a 0.2% drop earlier on the session.
Number of unemployed people in the largest economy of Eurozone added 25,000 in September, while analysts expected the unemployment to fall by 5,000. Moreover, the jobless rate advanced to 6.9% from 6.8% in August. Economists point out that the economy of Germany is growing, however, some big domestic companies like Siemens AG have recently announced big job cuts.
The U.S. Dollar dropped to a 19-month low versus the Swiss Franc amid partial U.S. government shutdown, boosting speculation the Fed will retain its monetary policy that weakens the currency.The Dollar slid 0.5% to 90.03 Swiss centimes at 8:32 in London after weakening to 89.93 centimes, the lowest since February 29, 2012. The greenback lost 0.3% to $1.3575 per Euro,
Japanese government announced on Monday an increase of the sales tax from 5% to 8% in the next year. Some economists say that the tax rise may slower the economic recovery in the country. Nevertheless, the government is going to push around half of new sales tax receipts, or $88 billion, back to the economy. The changes will most probably
Treasuries dropped after three-day soar on speculation the U.S. government shutdown will end fast enough for the politicians to work on expanding the limit. Ten-year U.S. yields added 0.03 percentage point, or three basis points, to 2.64% as of 8:24 a.m. in London. The August 2023 2.5% note lost $2.50 or 1/4 per $1,000 face value, to 98 25/32.
The Reserve Bank of Australia unchanged the main interest rate, keeping it at 2.5%, the all time lowest level. Experts, however, predicted the rate to be decreased slightly. RBA officials said that the Bank's easing monetary policy is only on its way to start working and the economy will feel the easing policy's results in the nearest future, thus more
The U.S. Dollar dropped to the nine-month low to $1.6245 versus the U.K.'s currency as the U.S. government began partial shutdown at midnight not being able to reach consensus on Obamacare. The shutdown will slow country's economic recovery and challenge the beginning of Fed's tapering, which is anticipated to depreciate the greenback further.
Manufacturing activity in China increased in September of 2013, as the benchmark PMI Index added 0.1 points to 51.1 points. At the same time, analysts forecasted the index to reach, on average, 51.6 points. Still, reading above 50 points indicates growth in the sector. Economists say that a rise in manufacturing will push the whole Chinese economy higher and predict
Unemployment level in the third biggest economy of the world unexpectedly soared to 4.1% or 2.71 million people in August of this year, while economists did not predict any changes from the July level of 3.8%. Meanwhile, job-to-applicant ratio increased to 0.95 and matched forecasts. Moreover, employment in Japan is rising, as it reached 63.1 million persons, 0.5% more than