According to the CNBC survey, two out of three economists expected Barack Obama to nominee Lawrence Summers as the new Fed chairman. Alongside, five out of six experts wanted Janet Yellen to become the new chairwoman. After Summers' quit from the race, it is forecasted that Yellen, who is currently the Fed's vice-president, will become the No.1 candidate for its
American car sales are posing for a strong advance, while the car makers can sell about 16.1 million new cars in 2014. Such a positive forecast was given by analysts from Bloomberg survey. Meanwhile, the current annual record is set on 17.4 million sales. The last time car sales in the U.S. increased for five consecutive years from 1996 to
Lawyers of the European Union notice that the United Kingdom will obviously benefit from the refusal of imposing a tax on financial transactions. This decision will allow the U.K. to attract a lot of European financial institutions to work in the country. Nowadays, only 11 EU member states approved the tax, including France and Germany, putting the U.K. into a
Many bond investors predict that the Federal Reserve will not keep its interest rates on the current low level until 2015, as volatility on bond market rises, while the U.S. economy shows signs of recovery. Moreover, it is highly expected the Fed's purchase amounts of Treasuries to be decreased by $10 billion this week, and the Central bank will not
Prices for WTI oil fall on Monday amid dropping pressure from Syria, as the U.S. agreed a plan with Russia to confiscate Syrian chemical weapons. It seems that oil supply from Syria will not decline in the nearest future. WTI futures for October slumped $106.48 per barrel, $1.73 or 1.6% less than at the end of the last week. Brent
Indian national currency increased in value versus dollar on Monday, as markets positively reacted on Lawrence Summers' announcement of being out of race for Fed's chairman seat. Moreover, the country's government bonds decreased a little, while the inflation pace reached 6.1% in August. At the moment, the rupee is trading 62.63 per dollar, 1.3% higher than at market closure time
Despite worries on the Federal Reserve's future decision about stimulus tapering, U.S. companies stockpiles inched up for the third time this year. Inventories of U.S. businesses rallied 0.4% in July, overshooting analysts' expectations of a 0.2% rise. Manufacturers' reserves increased 0.2% in July, while shipments of their products rallied 1.1%.
The Canada's Dollar declined for the second day amid speculation the Federal Reserve may begin to start stimulus tapering next week, which is expected to send the U.S. Dollar lower. The Canadian currency dropped 0.1% to C$1.0335 versus the greenback, while the U.S. retail sales advanced only by 0.2% in August.
Italian 10-year government bonds decreased for the first time in three days after Euro block's officials boosted concerns that political instability in Italy may threaten economic reforms. Portugal's government bonds plummeted for the fourth day in a row, with benchmark 10-year note yields jumping to and almost two-month high. The Italian benchmark 10-year bond yields inched up to 4.56%.
U.S. share futures traded steady after retail sales data for August was posted, while investors are preparing for the Federal Reserve meeting next week. Standard & Poor's 500 futures advanced 0.03% to 1,679.20. U.S. retails sales increased for the fifth month in a row in August, jumping 0.2% and missing economists' expectations of a 0.5% rise.
The Sterling appreciated to the highest level in seven months versus the greenback ad a government data indicating construction production advanced in July, boosting the case the U.K. economy is recovering at a faster pace. The Sterling advanced 0.3% to $1.5854 and 0.3% to 83.93 pence versus the 17-nation currency.
Olli Rehn, the economics chief of the EU said on Friday that Italian economy still faces a lot of economical risks, as the economy continues to decline. Manufacturing in the country lost 1.1% this July on the annual basis, while the GDP slump eased to 0.2% in Q2. Analysts point out that political instability may push 10-year bonds' yields even
The U.S. retail sales are anticipated to advance in August for the fifth time amid increasing demand for cars and a moderate fall in gas prices. Based on economists' expectations, American shopping appetite inched up 0.5% last month. The U.S. gasoline prices plummeted 1% per gallon and the average gas price was at $3.57 per gallon in August.
One of the main sectors of the U.K. economy continued the up-trend, adding signs to that the country's economy is recovering and expanding growth. Construction industry added 2.2% in July from a month earlier, while on the annual basis an increase was 2%. The output rose in all major construction sector like housing and commercial work. The industry accounts for
U.K. government gilts declined with U.S. Treasuries as Japanese Nikkei newspaper posted former Treasury Secretary in the U.S. Lawrence Summers potentially may be named the next Federal Reserve chairman. The yield on the U.K. benchmark 10-year bonds increased two basis points to 2.96% and the 2.25% bond maturing in September 2023 slipped 0.15 to 93.90.
The economic decline in Sweden reached 0.2% in the second quarter of this year, while the first report suggested the 0.1% decline. The annual growth shrunk even more deeply, while the economy added only 0.1% from the same period of 2013, down from the latest estimate of a 0.6% advance. Analysts explain the economic slump with weak exports data and
Taking into account the latest Bloomberg survey, investors expect from the Bank of England to increase the key interest rate in the first six months of 2015. Nowadays, the benchmark rate stand at 0.5%. BoE officials say that the easing program will continue until the unemployment rate reaches 7%. Alongside, economists think that they will have to wait at least until 2016
Japanese Yen declined against the U.S. Dollar, correcting previous profit-taking advances, following worries over the Federal Reserve may begin to taper its bond purchases next week. The Yen dropped 0.14% to ¥99.66 versus the greenback and plummeted 0.13% to ¥132.46 against the 17-nation currency, and slipped 0.18% to ¥157.55 versus the Sterling.
Economic growth in the United Kingdom will increase this year and in 2014, according to the analysts' median estimates. In 2013 British economy is expected to advance 1.3%, while previously economists waited for a 1% expansion, but the next year GDP growth will reach 2%, which will be the highest pace of expansion since 2007. Moreover, in 2015 economy is
Japanese industrial output in July jumped 3.4% on a monthly basis, while increasing 1.7% year-on-year, adding to the case that the economy in Japan is recovering at a faster pace. Japan's shipments from factories inched up 2.0% on a monthly basis and rose 1.4% from a year ago in July, while inventories rallied 1.6% compared to the June.
Asian shares declined, with the regional benchmark index halting an 11-day gain, as the U.S. and Russia discuss situation in Syria and investors expect the result of a Federal Reserve meeting in the following week. The MSCI Asia Pacific Index retreated 0.6% to 136.90, with Japanese Topix index jumping 0.1% and Taiwan's Taiex index falling 0.7%.
European shares decreased, cutting the Stoxx Europe 600 Index's second weekly advance, as investors anticipated data on retail sales from the U.S., while America and Russia discussed the situation in Syria. The Stoxx 600 plummeted 0.3% to 309.83, while the Standard & Poor's 500 Index futures maturing in December dropped 0.2% and the MSCI Asia Pacific Index slipped 0.6%.
The U.S. Dollar appreciated ahead of data analysts said will indicate U.S. retail sales advanced in August, fueling speculation the Federal Reserve will begin stimulus tapering next week. The greenback inched up 0.2% to 99.69 against the Yen and remained steady at $1.3288 versus the common currency, while the Japanese Yen dropped 0.1% to 132.47 against the Euro.
Gold future prices declined to the lowest level in five weeks, as investors expect from the Federal Reserve to possibly start the stimulus tapering next week. Gold futures dropped 1.61% to $1,309.30 per ounce and the silver decreased 3.00% to $21.485 per ounce, while the U.S. Dollar index advanced 0.15% to 81.610.