Spanish government budget deficit reached 4.38% from January to August, while the target stood at 3.8%. A lot of analysts from the Bloomberg survey predict the budget gap to reach 6.5% in 2013. Thereby, it is too early to speak about economic recovery in the country that has the highest unemployment rate in the Eurozone at 27%, while more than
U.S. labor market is on the way of stable recovery, while jobless claims in the country continue to decrease. In the last week, which ended on August 31, the number of people who applied for a jobless allowance surprisingly fell to 323 thousand from the previous weeks' 332 thousand. U.S. employers, in turn, added more than 176 thousand new jobs,
Haruhiko Kuroda, the Governor of the Bank of Japan, said on Thursday that the regulator may increase the monetary stimulus after the planned sales-tax rise. Japanese economy is growing at a slower pace than predicted, while the 2% inflation target may be at risk of being failed to achieve. Moreover, a lot of analysts predict that the Bank of Japan
According to the outlooks of leading EU and American banks, U.S. lawmakers will move the debt ceiling talks to mid-October, while the Treasury secretary Jacob Lew pointed that the limit can be reached by that time. It is worth to say that the current amount of debt the U.S. can allow stands at $16.7 trillion. Moreover, Lew said that on
Sales of new homes in two main regions of Canada advanced this August from the previous year. Real estate companies' registrations of new houses in Toronto, the first large market in the country, were up 21% to 7569 units this August, while in Vancouver region new home sales surged as much as 52%. Moreover, the average new house price increased
European stocks remained stable on Fed saying the U.S. economy is recovering moderately, as investors awaited central-bank meetings. The Stoxx Europe 600 Index gained almost 0.1% to 302.45 as of 9:53 a.m. London time. S&P's 500 Index futures lost 0.1%, while the MSCI Asia Pacific Index added 0.1%. The interest rates are expected to be kept unchanged at 0.5%, according
European stocks advanced ahead of central banks' meetings, and as the Fed saw a gradual pickup in the world's largest economy. Asian shares jumped, while U.S. stock futures remained almost unchanged. The Stoxx Europe 600 rose 0.3% to 303.3, after losing 2.4% last week amid military tensions over Syria. S&P 500 index futures fell less than 0.1%, whereas MSCI Asia
WTI crude traded close to the one-week low amid limited military strikes on Syria, alleviating concerns the tensions will spread and disrupt oil supplies. WTI for October settlement traded at $107.40 a barrel, up 17 cents, dropping to $107.23 yesterday, the biggest decrease since August 20. Meanwhile, Brent for October delivery rose 19 cents to $115.10 a barrel.
Australian trade balance unexpectedly turned into red in July, a huge gain in imports offset the incremental increase in exports. The Australian Bureau of Statistics said the difference between the number of exported and imported goods and services stood at -$765 million in July, from a downwardly- revised $243 million surplus a month earlier. Analysts, however, expected a surplus of
The Australian Dollar declined from the strongest level in more than two weeks ahead of an ADP Research Institute's report which might signal the U.S. companies added jobs a month earlier, reinforcing the view for the Fed to taper stimulus. The kiwi also lost some ground before U.S. Labor Department jobs report tomorrow. The Aussie slid 0.3% to 91.50 cents,
The single currency lost 0.3% against the U.S. Dollar in morning session ahead of the key policy meeting, where European authorities are expected to keep monetary policy unchanged. The EUR/USD pair hit 1.3163, the session low, amid concerns Draghi's dovish comments may spark a fresh selloff of the most traded currency pair.
The U.S. Dollar hovered around 100 yen on speculation signs of economic improvement in the U.S. will urge the Fed to scale back its bond-buying programme this month. The Dollar rose to a six-week high versus the Euro ahead of private U.S. reports, which are expected to show employment rose and the service sector expanded. The greenback reached 99.98 yen,
Japanese policymakers introduced no adjustments to the current levels of the stimulus programme, pledging to inject 60-70 trillion Yen per year. The Bank of Japan also said the economy is on the right track, supported by a pickup in exports and increased inflows of investment. Meanwhile, interest rate remained unchanged as well.
American automakers fixed a one more successful month in terms of rising sales. The car market in the U.S. continues the rising tendency. Both General Motors and Ford exceeded economists' estimates for August sales, with the GM sales surging 15% and Ford adding 12%. Overall U.S. car sales in August were 1.47 million units, a rise of 14%, reaching the
Japanese economy may not reach the target inflation index in the nearest future, as the government of Shinzo Abe awaits it to be. Accordingly, a lot of economists predict the 10-year Japanese bond yields to shrink to 0.5% till the end of the fiscal year and to 0.315% by April 5. Currently the government bonds are trading at 0.765%, while
Services industry in the nearest future is predicted to become the largest sector in Asian economies. In 2010 services industry accounted only 48.5% of GDP output in Asia, while the European countries and the USA, on average, hold 75% of GDP in services and the other part in manufacturing and agriculture. Such a scenario is to become reality mostly in
Based on the Eurostat data, the Eurozone's economic growth in the second quarter of this year is confirmed with a 0.3% increase. On the annual basis, economy slumped 0.5%. Nevertheless, the ECB officials predict the Eurozone's economy to return to the stable growth only in 2014. Analysts notice that the main driver of the GDP advance in the Q2 was
The greenback slid versus its higher-yielding peers after a report indicated China's services industry advanced last month. The Bloomberg U.S. Dollar Index lost 0.2% to 1,034.53 as of 8:43 a.m. in New York, after rising to 1,038.61 yesterday. The U.S. Dollar was stable at $1.3170 per Euro after reaching the highest level since July 22 yesterday. The U.S. currency fell
Many emerging economies, from China to Brazil, keep almost $3 trillion in foreign currency reserves, as they try to preserve their own currencies from the heaviest slump in more than five years. Brazil, Indonesia and India raise interest rates to support their national currencies, while the economic growth is slowing down. Moreover, some countries act in such a way to
Stock market in Japan can painfully react, if the decision on the sales tax increase is not taken by April. Some economists predict that the overall decline on stock markets may reach 10%, while the market capitalization can lose $418 billion. Japanese authorities plan to increase the sales tax in the country from 5% to 8%, but the economic conditions
诺基亚手机业务被微软收购似乎并不出乎意料，但令人惊讶的是这笔收购宣布的时机和价格。诺基亚的市值早已低于辉煌时期的1100亿欧元，不过诺基亚以不到55亿欧元的价格出售设备和服务业务仍令人震惊。
U.S. equities traded higher on positive manufacturing data and better construction spending. However, the Fed tapering worries still persist and also concerns over U.S. attacking Syria. The S&P's 500 Index added 0.92% to 1,648.04 at 10:33 a.m. EDT, while the Dow Jones Industrial Average gained 0.62% to 14,902.26 and the Nasdaq technology index climbed 1.05% to 3,627.55.
Construcion spending in July has bounced back, soaring to highest level since 2009 summer. Contractors spent 0.6% more in July up to $900,824 million, exceeding expected 0.4% increase. Contractors focus was mostly on private dwellings, which in total mounted to $334,578 million, while public construction slid 0.3% in July, dragged down by reduction in local and state investment.
Nokia, the Finnish smartphone manufacturer and one of the largest mobile devices producers in the world is going to sell its "Devices and services" business to its main partner Microsoft, which plans to buy some of Nokia patients as well. The cost of the deal will be 5.44 billion euros and it is planned to make it till the March,