European shares and German Bund prices dropped after improved US economic report spread speculation the Fed may reduce its bond-buying policy. German bond futures were at 143.39, they decreased by 43 ticks, with traders expecting unemployment and inflation report out of Germany to confirm the economic growth. The FTSE Eurofirst 300 Index, the top European shares, fell 0.5%.
European shares slipped after the Stoxx Europe 600 Index jumped the most in a period of 30 days as the U.S. economy is expected to boost and that may slow down the stimulus. The Stoxx 600 fell 1% to 305.06 as of 9:57 a.m. London time; the index is still set for 2.8% gain in May. The Stoxx 600 index
The German jobless claims increased approximately four times beating the economists' expectations in May as the Eurozone debt crisis and the cold climate have made an impact on the Germany's economy. The Europe's largest economy's unemployment level has risen for fourth month in a row; it was estimated to grow by 5,000, but it climbed by 21,000 reaching 2.96 million,
Most Asian shares advanced for the second day after data indicated US consumer confidence gained the most since 2008 and home prices rose to the highest level in seven years. The MSCI Asia Pacific Index increased 0.1% to 137.240, with about five stocks climbing for every three that dropped. US consumer confidence reached a 5-year high yesterday, the index increased
Gold fell in London after a stronger US Dollar curtailed demand for the alternative investment and on speculation the US economy is expanding. The US Dollar added 0.4% versus a six-currency basket amid speculation the Fed may reduce QE measures. Gold futures dropped 1% to $1,380.60 an ounce this morning in London.
It is expected that the four biggest banks of the U.K. will cut approximately 189,000 jobs by the end of the year 2013 and that would lead to the lowest employment level in nine years. Royal Bank of Scotland Group Plc, HSBC Holdings Plc (HSBA), Lloyds Banking Group Plc (LLOY) and Barclays Plc (BARC) are predicted to employ 606,000 people
The Stoxx Europe 600 index has climbed for a second consecutive day, advancing 0.8% to 306.62 so far today. Share prices increased after a drop last week, which was caused by speculations about an early end of the Fed's QE and an unexpected contraction in Chinese manufacturing. Bearish momentum seems to have reached its peak as bulls are coming to
The South Korean Won was lower by 0.2% to 1,124.9 per U.S. Dollar in the morning of Seoul trading session on Tuesday. The currency touched 1,131.43 on 24th of May, which was the lowest level since 12th of April. Today the exchange rate dropped amid speculation that domestic importers took an advantage of the stronger Won and settled their month-end
The Philippine Peso weakened by 0.6% to 41.865 per U.S. Dollar in the morning of Manila trading session on Tuesday. The Peso slipped to the lowest level since 27th of September, as the domestic equity index prolonged its retreat on speculation that economic growth will slowdown in Philippine.
The Indian Rupee depreciated by 0.2% to 55.6750 per U.S. Dollar in the morning of Mumbai trading session on Tuesday. The Rupee slipped towards a nine-month low, as investors showed their preferences to purchase the U.S. Dollar on signs that the biggest world's economy is improving and is on the track of stable growth.
The Australian Dollar was slightly changed at 96.45 U.S. cents in the second part of Sydney trading session on Tuesday. The pair is traded around an 11-month low, as investors expect to see improvements in U.S. consumer confidence and manufacturing indexes and still speculate about a tightening of monetary easing in the United States.
Taiwan will allow insurance companies to invest $3.3 billion in infrastructure projects in order to lift its export-dependent economy, as it was harmed by weakening global demand. The official 2013 growth forecast was cut from 3.59% to 2.4% due to decreasing demand for its tech exports in China and the U.S. It is expected that the plan will increase the
The Japanese Yen was higher by 0.2% to 101.09 per U.S. Dollar in the second part of New York trading session on Tuesday. The currency increased 1.9% last week, which was the steepest gain since 1st of June. The market is concerned about the Bank of Japan, which struggles to monitor a jump in domestic bond yields.
The Dollar Index, which tracks the greenback performance against six major counterparts, was higher by 0.2% to 83.89 by the midday trading session in Tokyo on Tuesday. Investors are optimistic about the Dollar, as economists say that consumer confidence data will improve and home prices will be higher in the biggest world's economy.
The European Commission will say on Wednesday that austerity in the Eurozone should continue, however, it could be done at a slower pace than before. This comment will come as the EU reconsiders its policy focus and moves from fiscal consolidation to structural reforms. The Commission will give more time to decrease budget deficits with a condition of further labour-market
Japanese Nikkei 225 index dipped 1.4% at the beginning of the Tuesday's session only to rebound and surge 1.4% later in the day. The growing stock market encouraged investors to sell the Yen, which lead to the Dollar's appreciation of 0.9% to 101.86 Yen. MSCI's index of shares outside of Japan jumped 0.2%, while Australia's .AXJO and South Korea's .KS11
Сhina will seek 7% average annual GDP expansion through 2020, compared to more than 10% growth rate in a previous decade, according to China's Premier Li Keqiang. He added that urbanization and industrialization provides with a lot of potential for growth. This year's target is set at 7.5% as economy expanded 7.7% in the first quarter on an annualized basis.
The Aussie prolonged its fall against the U.S. Dollar from previous week as the U.S. consumer confidence is expected to increase and that could encourage the Fed to slow down the stimulus. The Australia's currency dropped 0.2% to 96.32 U.S. cents at 3:26 p.m. Sydney time. Last week the Australian Dollar reached a 0.8% weekly decline versus the greenback, making
Russia and Kazakhstan continued to buy gold in April for more than a half year in a row, despite the biggest drop in metal prices in 30 years. Russian holdings gained 8.4 metric tons to 990 tons as it increased 3.4% this year to date, compared to 8.5% advance last year. Kazakhstan's holdings climbed 2.6 tons reaching 125.5 tons as they
European shares increased, recovering from the first weekly drop in a month, and Asian stocks slipped as Japanese top central banker said interest rates might rise as the economy expands. The Japan's Yen gained 0.3% to 100.99 against the Dollar and 0.2% to 130.71 versus the Euro. The Stoxx Europe 600 rose 0.3% and the Standard & Poor's 500 futures
The Dollar dropped to 100.79 Yen when the Nikkei 225 index initially plummeted 4% early today, but the currency rebounded and was last traded at 101.04. The current moves in the USD/JPY pair are linked to the global stock markets, but Forex traders are likely to concentrate more on macro data, especially on the news of the Fed's monetary easing,
Indian S&P BSE Sensex index advanced 0.8% so far today after losing 2.9% last week. The surge in stocks was led by a 4.4% gain of Reliance Industries, the largest refining complex in the world, as the company discovered new natural gas fields in the country. Bharti Airtel, the biggest mobile-phone operator in the country, gained 4%.
Chinese coal spot prices decreased to 600-615 Yuan per kilogram, the lowest price since October 2009, as country's manufacturing sector, which accounts for 70% of domestic electricity demand, contracted for the first time in 7 months. Sluggish demand from heavily industrialized sectors and sufficient rainfalls in the south were indicated as the main causes of a decrease in prices.
Asian stocks continued to lose their value as the strengthening Yen harmed Japanese exporters and China announced that it will tolerate slower economic growth. The MSCI Asia Pacific Index decreased 1.3% today, while Japanese Topix Nikkei 225 indexes lost 3.4% and 3.2% of their value respectively. New Zealand's NZX 50 Index fell 1.1%, while Australian S&P/ASX 200 slid 0.5%.