Wholesale inventories in the world's largest economy surprisingly declined in February, a report released by the Commerce Department showed on Tuesday, at the same time wholesale sales recorded a notable rebound. Wholesale inventories slipped 0.3% in February reversing an increase of 0.8% in the month before, while wholesale sales moved up 1.7% in February after it rose 0.8% in January.
Emerging-market shares advanced first time in a week on Tuesday mainly due to an increase of consumer and energy companies after a report showed lower-than-expected inflation in China easing the pressure for monetary policy tightening. The MSCI Emerging Markets Index gained 0.4% to 1,011.26 on Tuesday after it dropped to the lowest since November 30.
The Australian and New Zealand's currency advanced as loosen monetary policy in the U.S. and Japan weighted on their government bond yields boosting the South Pacific's assets relative value. The so-called Aussie increased 0.2% to $1.0429 and it was traded at 103.82 yen, while the New Zealand's Dollar gained 0.2% to NZ$1.2285 per Australian dollar following a climb to NZ$1.2274.
The British Pound appreciated to the highest level in six weeks against its U.S. counterpart on Tuesday after a report showed that industrial production in the U.K. advanced above the forecast in February suggesting that the country might avoid a triple-dip recession. The Sterling gained 0.4% to $1.5316 on Tuesday after it reached $1.5363 on April 5, the highest since
U.S. Treasuries increased on Tuesday amid speculation that buying at today's $32 billion auction of three-year notes will be boosted by the Bank of Japan's decision to double its assets purchases. The benchmark U.S. 10-year yields decreased by two basis points to 1.73% at 9:31 a.m. in New York after it dropped to the lowest since December 12 at 1.68%
Unemployment in Switzerland shrank in the month of March with the jobless rate falling to a non-seasonally adjusted 3.2% from the previous month's level of 3.4%, a report unveiled by the State Secretariat for Economic Affairs showed on Tuesday. Year-on-year, the unemployment rate stayed flat at 3.2%, while the total number of unemployed people decreased from 126,392 in March 2012
Trade deficit in the U.K. widened more than economists expected in February, when the shortfall stood at a level of GBP 9.4 billion compared to forecast of GBP 8.6 billion, up from January's figure of GBP 8.2 billion, the Office for National Statistics reported on Tuesday. Total value of shipments out of Britain dropped 1.1% in the January-February period, while
Industrial output in the United Kingdom advanced more than expected in February, when it rose to 1% from a 1.3% contraction recorded in January, the Office for National Statistics reported on Tuesday. The reports showed that the biggest impact on the recovery had manufacturing production with 0.8% gain on a monthly basis in February after it declined 1.9% on the
Export of goods in Germany decreased at a faster rate than preliminary estimated in February as ongoing depression in the 17-nation bloc weighted on demand for German goods, the Federal Statistical Office reported on Tuesday. The report showed that shipments out of the country dropped on a monthly basis by 1.5% to 90.4 billion euro in February following a 1.3%
French merchandise trade deficit widened in the month of February, while economists expected a decline of trade shortfall, a data released by the Commerce Ministry showed Tuesday. According to the report, nation's trade deficit rose to 6.011 billion euro in February 2013 compared to a level of 6.506 billion euro in February 2012, while in January 2013 it was 5.653
Manufacturing turnover in Germany recovered in the month of February as a result of an improvement in demand from customers abroad, a report revealed by the Destatis showed on Tuesday. The report said that manufacturing turnover rose 0.5% on a sequential basis in February reversing previous month's fall of 0.4%, while domestic turnover dropped 0.3% on the month.
The Japanese currency appreciated versus most of its peers on Tuesday rebounding from the lowest level against the U.S. Dollar in almost four years on speculation that recent losses of the currency has been too rapid. The Yen added 0.4% to 98.95 per U.S. Dollar earlier on Tuesday London session after it dropped to 99.66, the lowest since May 2009,
European shares increase on Tuesday as Alcoa Inc. recorded a profit at the beginning of U.S. earnings season and as inflation in China expanded at the slower pace than economists expected in March. The benchmark Stoxx Europe 600 Index advanced by 0.6% to 289.38 earlier on Tuesday London session after it bounced back from its largest three-day fall yesterday.
West Texas Intermediate oil increased for the second straight day on Tuesday after a report showed that inflation in China rose less than expected in March and as U.S. crude inventories reached the highest figure in 22 years. May WTI futures gained 46 cents to $93.82 a barrel on the NYMEX and it was traded at $93.70 at 9:15 a.m.
Consumer price inflation in China slowed down notably in March after it reached a ten-month high in the previous month amid receding of seasonal increase in food prices, a data released by the National Bureau of Statistics showed on Tuesday. A report showed that the consumer price index added 2.1% on an annual basis in March after it rose 3.2%
Business sentiment in New Zealand improved to its highest level in three years during the first three months of 2013 as the economic activity in the country was strong in the Q1 maintaining the momentum from the Q4 of 2012, the New Zealand Institute of Economic Research reported on Tuesday. Business optimism moved up from 19% to 32%, while domestic
U.S. blue chips advanced on Monday as earnings season was set to kick off. The Dow Jones Index rose 0.3%, or 48.23 points, to 14,613.48. Consumer goods and services sectors added the most by jumping 1.1% both. Bank of America Corp surged 2% to $12.21, as the bank launched a "video chat" function in its ATMs, enabling to connect a
Tokyo Stock exchange traded red on Tuesday as investors raised concerns over the market heating up too fast after BOJ said to increase monthly bond purchases to end the deflation and boost the economy. The Nikkei 225 Index lost 0.24 points to 13,192.35. OKUMA Corp, a machine tool builder, surged 8.9% to 760 yen for a biggest jump on Nikkei,
Precious metals except for palladium moved lower on Monday as investors sold safe haven assets for profits after Friday's jump in prices. Meanwhile, signs of weakening investment demand also depressed the commodity complex. Gold tumbled on profit taking and a rebound of the U.S. Dollar. The yellow metal also was pressurized by soft investment demand. According to the latest data, holdings
Farm commodities except for coffee finished on the positive note on Monday on concerns over winter weather across the Upper Plains. Additionally, broadly weaker US Dollar and improved demand for riskier assets lifted rural commodities. Wheat rose, helped by forecasts of colder-than-normal temperatures across the Upper Plains. However, gains were cut by positive USDA revision of crop conditions. About 36%
Energy futures apart from natural gas bounced off recent lows on Monday amid fresh worries over supply security in Africa. The rebel group in Nigeria said it killed about 15 security employees in an attack in Bayelsa state. Crude oil drew strength from escalated tensions in Africa and hopes that a massive monetary easing plan by the BoJ will boost
Industrial metals were bullish on Monday on positive German industrial production data. Moreover, weaker greenback coupled with copper mine workers strike in Chile lent support to the commodity group. Meanwhile, market participants were cautious ahead of the key China's numbers due on Tuesday and Wednesday. Aluminum climbed as rising cancelled warrants at the LME signal on strong spot market activity. Moreover,
U.S. equities advanced on rising optimism that the first-quarter profits would favor a rebound in the market after posting biggest decrease on week this year. The S&P 500 Index rallied 0.6% to 1,563.07. All but one group in the benchmark index edged higher. Advanced Micro Devices jumped 13.1% for the biggest surge in the S&P 500 on news Microsoft Corp.
Majority of emerging-market shares declined on Monday as rebound in eastern European stocks overshadowed concerns about infections from a bird-flu virus in China and a rising tension between North and South Korea escalated into threats of nuclear device detonation. The MSCI Emerging Markets Index gained less than 0.1% to 1,008.14 as 344 stocks fell and 287 rose on Monday.