Inflation in the 17-nation bloc increased by less than initially forecast in the month of September, when the rate rose 1.1% after it gained 1.3% in August, the slowest advance since February 2006, the statistical office Eurostat reported on Monday. According to the report, the inflation was projected to rise 1.2%, while core inflation excluding energy, food, alcohol and tobacco
The Chinese Yuan advanced on Monday completing its fifth successive quarter of gains due to stronger fixing set by the People's Bank of China at 6.1480 in the Q3, suggesting that China's economy is recovering from the previous slowdown. The Yuan jumped by 0.25% this quarter to a level of 6.1220 per U.S. Dollar in Shanghai following a 1.2% increase
Emerged economic expansion in the Eurozone is considered to be weak to influence labor market conditions and decrease jobless rate of 12.1%. The unemployment is anticipated to jump to 12.3% in Q4 2013 and remain exceeding 11% throughout 2015, while the GDP in the Euro bloc advanced 0.3% in Q2 and is expected to rise 1% in 2014 prior 0.4%
The British Pound increased for the fourth straight day against the shared currency after a report showed that house prices advanced by the most in a six-year period in September suggesting that the U.K. economy is improving. The Sterling added 0.2% to 83.62 per Euro by 9:33 a.m. in London after it strengthened to 83.40 pence, the highest since January
The Japanese Yen increased versus majority of its counterparts on Monday trading session after demand for the Yen as a haven currency was boosted as the U.S. government may partially shut down from tomorrow. The Yen gained 0.4% to 97.88 per U.S. Dollar as of 10:13 a.m. in London after it reached the strongest level since August 29 at 97.53
Japan's industrial production contracted more than economists originally projected in the month of August, the Ministry of Economy, Trade and Industry reported on Monday. The report showed that the country's industrial output fell 0.7% in August from the month before, while it was forecast to drop by 0.3% after it increased 3.4% in July.
Producer prices in Italy dropped for the sixth successive month in August, a report released by the statistical office Istat showed on Monday. According to the report the producer price index slipped 2% on an annual basis on August after it dropped 1.3% and 0.7% in July and June respectively, while on a sequential basis the PPI added 0.2% in
Automobile production in the Asia's second largest economy declined in the month of August mainly due to a notable 15.1% fall of motorcycle production and a 13.9% drop in foreign demand, a data released by the Japan Automobile manufacturers Association showed on Monday. The country's automobile production slip 7.6% in August as automobile sales fell 1.1%, whereas exports rose 2.1%
Copper dropped for the first time in a four-day period on Monday paring its largest quarterly gain since March 2012 amid speculation about a partial shutdown of the U.S. government. The metal for December delivery fell 0.6% to $7,254 a metric ton on the London Metal Exchange and it was traded at $7,280 as of 10:43 a.m. Tokyo time.
Soybean futures slip on Monday reducing its first quarterly increase in a year amid concern that crop inspections may be disrupt by a possible shutdown of the U.S. government, while harvest prospect were boosted by favourable weather. Soybeans for delivery in November slipped 0.8% to $13.09 a bushel on the CBOT and were traded at $13.1075 as of 11:28 a.m.
West Texas Intermediate oil decreased earlier on Monday trading session to its weakest level since July 5 amid speculations that demand for the commodity will shrink as the U.S. government is facing its first shutdown in 17 years. WTI futures with delivery in November fell $1.42 to $101.45 a barrel on the NYMEX after it was traded at $101.50 as
The U.S. government is bracing for a partial shutdown tonight as no consensus between the House and the Senate was reached over the weekends. Around 800,000 employees may stay home tomorrow, which will lead to increased waiting time for passport renew and liabilities in veterans' disability applications, yet this will not resolve the debt limit being exhausted on October 17.
European shares shrank on Monday led by the biggest Italian banks, UniCredit SpA and Intesa Sanpaolo SpA, and the country's benchmark index as the Italy's Prime Minister fought to maintain his administration. The benchmark Stoxx Europe 600 Index dropped 0.7% to 310.02 as of 8:05 a.m. London time and It has risen 4.3% this month.
Manufacturing activity in the world's second largest economy advanced less than economists originally projected in the month of September, a survey released by the HSBC and Markit Economics published on Monday. The purchasing managers' index of the manufacturing activity rose from 50.1 recorded in August to 50.2 in September.
Gold increased on earlier on Monday session to its highest level in more than seven days as it headed for the first quarterly gain since September 2012 amid speculation that the U.S. government may shut down if the Senate rejects the bill. Bullion for delivery in September added 1.3% to $1,354.35 an ounce, its highest level more than a week.
Global stocks declined on Monday's session extending their losses after falling from the highest level in five years, while the U.S. Treasuries and the Japanese currency gained as the U.S. government may shut down on Monday for the first time in 17 years. The MSCI All Country World Index dropped 0.6% at 8:23 a.m. London time, whereas the Stoxx Europe
Chinese shares rose on Monday finishing the best quarter in a three-year period mainly due to an increase of consumer discretionary and technology companies before the markets closed for the nation's week-long holidays. The Shanghai Composite Index added 0.7% to 2,174.67 at close, while the Hang Seng China Enterprise Index fell 1.6% and the CSI 300 Index jumped 0.6% to
The government will cut the pension deficit by 25% per year starting with 2019 compared to proposed range of 25-33% reductions beginning with 2014-2019. By 2016, Spain must decrease budget deficit to maximum 3% of GDP, while in 2012 country's total deficit amounted 6.8% of GDP, from which 1% or 10 billion euros was contributed by the system of social
German economy was buoyed by solid retail sales that gained 0.3% year-on-year in August and 0.5% compared to July, belying expectations of a monthly increase of 0.8% . Meanwhile, the GDP advanced 0.7% in Q2 , yet the growth is forecast to slow down in the third quarter, averaging at 0.3% in 2013 and 1.5% in 2014. At the same
German inflation remained flat at the three-month low in September, adding to the case that nation's economy is getting better. Inflation rate was 1.6% and that matched economists' forecasts, also Germany's unemployment rate is near the lowest level in 20 years and these were the main factors why Angela Merkel's party won the recent election.
Economic sentiment in the Euro bloc rose beating economists' expectations in September, indicating that Euro area is recovering from financial crisis. Executive and consumer confidence index increased for a fifth consecutive month reaching 96.9 compared to previous month's 95.3, according to the European Commission.
The pound advanced versus the greenback to $1.6133 Friday morning after the Bank of England Governor stated that increase in bond-buying policy is unnecessary as economic conditions are strengthening. Mark Carney stated that the case for increase in QE is if the U.K. economy stumbles, yet some experts anticipate the BoE will increase stimulus to lower recently risen market rates.
Gold fluctuated between gains and declines as investors speculated that the Fed might consider starting tapering after U.S. unemployment claims dropped surprisingly. The yellow metal price was little changed at $1,325.81 an ounce as of 2:42 p.m. Singapore time, while the bullion price for December delivery gained 0.2% to $1,326.20 an ounce.
Shares in Switzerland were little changed, with the Swiss Market Index set for a one-week retreat, as Eurozone's economic confidence data were awaited by investors. The Swiss Market Index dropped 0.2% to 8,048.18 as of 9:32 a.m. Zurich time, setting this week's decline to 0.7%, while the Swiss Performance Index slid 0.1% today.