Asian equities tumbled on Wednesday and were traded not far from the highest level in five months as investors hope for a deal in the U.S. federal debt limit talks between President Barack Obama and House Republicans before deadline on October 17. The MSCI Asia-Pacific Index outside Japan fell 0.2%, while Japan's Nikkei also dropped 0.2% and Australian and Honk
New York area business conditions for manufacturers slowed down in October missing original economists' expectations, the Federal Reserve Bank showed in a report on Tuesday. According to the report, the index of general business conditions dropped from 6.3 points recorded in September to 1.5 in October, while it was forecast to grow 7.0 points on the month.
An economic activity leading index in Australia decreased in August signaling that the country's economy lost its momentum and this trend may continue, the Westpac and the Melbourne Institute reported on Wednesday. The report showed that Australia's leading index dropped 0.1% from 294.8 recorded in July to a level of 294.5 in the following month.
Inflation in New Zealand increased in the three months ended in September compared to the Q2 missing preliminary economists' expectations, a data released by the Statistics New Zealand revealed on Wednesday. According to the data, consumer prices rose 0.9% in the Q3, while the figure was forecast to record 0.8% increase after it advanced 0.2% in the Q2.
U.S. government sovereign debt was placed under negative watch by the Fitch Ratings, although the ‘AAA' rating was maintained, a report released by the Fitch Ratings unveiled on Tuesday. The report showed that the main reason of placing the ‘AAA' long-term rating and local currency issuer default rating on Rating Watch Negative was persisting deadlock over the federal budget.
German investor sentiment rose for a third straight month in October, indicating on that nation's economy is able to grow despite the problems that U.S government is having. The ZEW index, that aims to forecast economic developments after six months, increased to 52.8 after it reached 49.6 previous month, touching the highest level since April 2010.
U.S. stock-index futures advanced, indicating on that the Standard & Poor's 500 Index will reach the highest level in three weeks, as investors awaited for the end of the partial government shutdown. S&P 500 futures gained 0.2% to 1,707.4 as of 10:44 London time, while contracts on the Dow Jones Industrial Average rose 0.2% to 15,258 today.
U.K. shares rose for a fourth straight day, making it the longest streak of gains since August, as U.S. government talks have showed some progress to end its partial shutdown. The FTSE 100 gained 0.7% to 6,552.16 as of 9:28 a.m. London time and it has rallied 3.4% since October 9. The FTSE All-Share Index climbed 0.6%, while Ireland's ISEQ
Consumer price index in the United Kingdom remained flat at 2.7% in September of this year, while economists forecasted a slight decline to 2.6%. At the same time, the National Statistics Office registered a decrease of the growth pace for producer prices. On the other hand, housing prices surged 3.6% in September. However, wages in the country have posted an
Lawrence Summers, the former Secretary of U.S. Treasury, said on Monday that the country's government has to support internal demand, pointing out that this sector of U.S. economy is the most important. Demand-increasing policy may decrease unemployment and increase GDP. Moreover, Summers is confident that the largest economy in the world will avoid default on its debt.
New car sales in the United States may decline as much as 10% in October, while consumers are not confident about perspectives of the U.S. economy amid continuing Shutdown. Such a negative outlook was given by Hyundai Motor Co. At the same time, analysts remind that September sales have already decreased 4.2%, however, American car makers' Ford and Chrysler sales
Retail sales in the Netherlands dropped 0.7% in August of this year from the previous year, while a month earlier the index rose as much as 0.8%. The Central Statistical Bureau data says that non-food products' sales declined 2.1%, but food sales added 2.7%. Moreover, it is worth pointing out that internet stores registered a 6.1% surge in sales, as
Leaders of the U.S. Senate will most likely reach a temporary budget agreement by Tuesday evening, while the government is closed already for 15 days and the borrowing limit will be hit by October 17. Anonymous sources say that Democratic and Republican plan may include the increase of debt ceiling through February 7, 2014, while the government could be funded
Finance ministers from EU countries announced on Tuesday that such countries as Spain and Ireland may return to financial markets soon. It is said that costs of borrowing for these countries is decreasing, therefore the return on debt markets seems very possible. Ireland, in turn, will make a decision on it in the nearest future, while the country has received
Import prices in Germany declined for the eight consecutive month in August with the fastest rate of decrease in almost four years, a report released by the Federal Statistics Office unveiled on Tuesday. The report showed that import prices index fell 3.4% year-on-year in August following a 2.6% declined recorded in the month before, while it was forecast to drop
South Korean Won increased on Tuesday trading session climbing to the strongest level in nearly nine months amid speculation that the U.S. government partial shutdown may be over as top senators signalled that debate is moving closer to a deal. The Won jumped 0.5% to 1,066.75 per U.S. Dollar Seoul time after it reached the strongest since January 24 at
Emerging-market shares increased on Tuesday climbing to the highest level in four months amid hopes that the U.S. federal budget limit debate come to an end as top senators signalled that a deal may be reached soon. The MSCI Emerging Markets Index gained 0.6% to 1,028.25 as of 1:51 p.m. Hong Kong time and was set to reach its strongest
Natural gas traded in New York jumped on Tuesday rising for the fourth straight day amid speculation that demand for the commodity may be spurred by a forecast for temperatures lower than average from October 19 through October 28. Natural gas for November settlement advanced 2.6 cents to $3.846 per million British thermal units on the NYMEX.
Brent crude decreased on Tuesday falling for the third straight day amid speculations that international talks between Western nations and Iraq on the country's nuclear program to ease sanctions curbing oil exports may be successful. Brent for delivery in November expiring tomorrow dropped 25 cents to $110.79 a barrel on the London's ICE Futures Europe exchange.
India's currency advanced on Tuesday together with local benchmark stock index as U.S. policymakers came closer to a new federal budget deal in order to avoid technical default spurring demand for Indian stocks. The Rupee added 0.1% to 61.4675 per U.S. Dollar at 9:47 a.m. Mumbai time, while the benchmark S&P BSE Sensex Index rose 0.6%.
Gold fluctuated on Tuesday trading session amid speculation that a deadlock over the new U.S. federal debt ceiling may come to an end as President Barack Obama and House Republicans signalled a possible deal. Bullion for delivery in October fell 0.5% to $1,266.40 an ounce after it rose 0.3% and was traded at $1,272.65 as of 12:20 p.m. Singapore time.
The total number of Australia's new motor vehicle sales declined in the month of September, when the figure fell 0.1% standing at 94,150, the Australian Bureau of Statistics reported on Tuesday. According to the report, passenger vehicle sales dropped 1.2%, sales of sport utility vehicles slipped 1.0% and category of other vehicle climbed 4.0% in September.
The Australian and New Zealand's currencies jumped against the U.S. Dollar on Tuesday as markets become optimistic about a new deal on the U.S. federal debt limit curbing demand for refuge assets. The so-called Aussie advanced 0.5% to 95.39 U.S. cents, the highest level since June 19, while the New Zealand's Kiwi added 0.4% to 83.92 U.S. cents.
Japan's equities swung between gains and losses on Tuesday with benchmark regional index recording a modest increase on hopes for a new debt limit deal in the U.S. and as paper-maker companies added, while non-ferrous metal producers and brokerages dropped. The Topix advanced less than 0.1% to 1,197.66 by 1:58 p.m. Tokyo time.