India's economy is expected to grow at the slowest pace last quarter since the global recession in 2009 as subdued investment and elevated inflation increase pressure on Prime Minister Manmohan Singh to extend policy overhaul. GDP increased 5.2% in 3 months to September 30 from the previous year, survey show before an official report on November 30.
Australia's Dollar reached a two-month high as the Eurozone finance chiefs reached agreement on Greece's debt burden and funding gap. The Aussie Dollar gained 0.1% to $1.0479 after earlier climbing to $1.0490, the strongest level since September 21. The Australian Dollar rose 0.4% to 86.24 yen. The Kiwi traded 0.2% above the close in New York at 82.34 U.S. cents.
Asian shares gained for the fifth consecutive day as European finance ministers agreed on decreasing Greek borrowing costs and prolonged their payback period. The MSCI Asia Pacific Index (MXAP) surged 0.5% to 123.92, extending the gains since mid-September. Meanwhile, Japanese Nikkei 225 Stock Average rallied 0.6% and South Korea's Kospi Index added 1%, whereas Chinese Shanghai index dropped 1.1% touching
Canada's currency declined from the highest level in two weeks versus the greenback as the Bank of Canada Governor Mark Carney became a chief of the Bank of England, increasing speculation who is going to replace him in Ottawa. The Loonie fell 0.3% to 99.60 cents per greenback before trading at 99.31 cents. It rose earlier to 99.18 after touching
The 17-nation currency reached the strongest level in three weeks as the Eurozone's finance chiefs agreed on Greece's debt burden and funding gap. The Euro rose versus the majority of the main peers after European finance ministers and the IMF reached an agreement to cut Greece's interest rates and provide extra time to pay back the loans. The Euro touched
The Canadian Dollar depreciated against the U.S. Dollar from almost the highest level in two weeks on uncertainty about the next head of the Bank of Canada as Mark Carney, current Bank of Canada Governor, was appointed as the head of U.K. Central Bank. The Loonie declined 0.2% against the U.S. counterpart and traded at 99.52 cents per greenback after
Oil declined on European Union officials meet to find solution for Greece to escape fiscal abyss after they decided to give Greece 2 more years to cut budget deficit on November 12 and after they failed to reach an agreement at all-night meeting last week. January-delivery crude oil dropped 78 cents to $87.50 per barrel, while the contract for brent
The Pound declined against the U.S. Dollar, following gain to the highest level in three weeks, amid the Eurozone finance ministers' meeting to discuss a bailout payment for Greece after they didn't manage to find compromise during last meeting. The Pound lost 0.1% against the U.S. Dollar and traded at $1.6010 after reaching $1.6051, a 3-week high, on November 23.
Swiss employment continued to expand in the third quarter, exceeding the analysts' forecasts. The number of employed surged to 4.12 million in this quarter, higher than the expected rate of 4.09 million, advancing from 4.07 million in the second quarter. The nation's seasonally adjusted rate of unemployment reached the highest reading since March 2011of 3% in October, inching higher from September's
German stocks declined on mounting concerns over Greece as the Eurozone's finance ministers meet today to discuss the terms of the next Greek bailout installment. Moreover, separatist parties won the regional elections in Catalonia this weekend, fuelling worries that Catalonia may seek independence from Spain. The DAX Index lost 0.35% and is currently trading at 7,283.23. Only two in nine
UK shares moved lower as traders are eying Eurogroup talks on Greek bailout resumed for the third time on Monday. Sending UK equities lower, the Institute for Fiscal Studies reported that austerity measures in the UK may have to be continued until 2018 if economy does not pick up soon. The FTSE 100 Index sagged 0.63% to trade at 5,782.46.
European stocks fell before Eurozone's finance ministers meet for a third time to discuss Greece's finances. The Stoxx Europe 600 Index dropped 0.2% to 272.73, after jumping 4% last week on optimism that the Congress will agree on the U.S. budget. Futures on the Standard & Poor's 500 Index lost 0.4% todays, whereas the MSCI Asia Pacific Index rose 0.4%.
Hong Kong equities retreated on Monday as market players booked profits after four-day rally on better-than-expected data from Europe and the US. Adding pressure on Hong Kong blue chips, investors were cautious ahead of Eurogroup meeting on Greece's bailout due later in the day. However, the downswing was capped by easing concerns over slowing national economy. The Institute of Economic
Japanese shares moved higher as weaker Yen boosted exporters. Moreover, hopes that opposition Liberal Democratic Party will win election next month and will put more pressure on the BoJ to ease its monetary policy supported Japanese stocks. Opinion polls showed that the Liberal Democratic Party is leading ahead of a December 16 election. The Nikkei 225 Index added 0.24% to
Dow jumped on Friday amid optimism over Chinese economy. Morgan Stanley predicted China's economy to expand by 8.2% next year and by 8% in 2014, citing positive impact of recent easing measures of the government. Moreover, upbeat German business sentiment figure lifted US blue chips. The Dow Jones Industrial Average Index surged 1.35% to close at 13,009.68. All sectors climbed.
US stocks rallied on Friday on encouraging economic data releases from Germany and hopes that Black Friday boosted retail sales. German business confidence unexpectedly climbed in November, stimulating demand for riskier assets. US equities also found support on signs that China's growth is back on track due to easing measures implemented this year. The S&P 500 Index surged 1.3% to
Opposing views on Japanese economic recovery appeared, as the newcomers were in favor of further monetary easing, whereas Masaaki Shirakawa, BOJ Governor, stayed to his previous statement that the monetary expansion, without any changes in the fiscal policy, will not solve the deflation turmoil in Japan. Sato, one of the former economists, stated that monetary policy should be closely linked
The South Pacific currencies traded close to their highest levels in 2 weeks on speculation that Eurozone finance ministers will release bailout funds for Greece, thus boosting demand for riskier assets. The Aussie bought $1.0454 from $1.0461 on November 23, when it touched $1.0471, the highest since November 7. The kiwi traded at 82.35 U.S. cents after touching 82.51, the
The 17-nation currency weakened for the first time in 6 days versus the Japanese Yen ahead of European officials' meeting in Brussels to discuss aid for Greece. The Euro also fell against most of the major counterparts as European stocks tumbled, curtailing demand for the Euro bloc's assets. The Euro dropped 0.5% to 106.38 yen after rising to 107.14 yen,
Farm commodities were mixed on Friday, with grains climbing and softs retreating. Rural commodities balanced between bullish USDA weekly export report and rising output in Brazil. Meanwhile, market players remained focused on weather forecasts in the key growing regions to gauge global supply potential.Wheat rose on better demand for US supplies. USDA reported that weekly wheat exports climbed 10% as
Energy futures except for natural gas climbed on Friday as upbeat numbers in Germany coupled with hopes for Greek bailout deal increased demand for riskier assets. Moreover, protests in Egypt over the extension of President Mohammed Mursi powers fuelled supply concerns, boosting energy prices.Crude oil surged on weaker US Dollar and optimism over the Eurozone. Lending additional support for the
Industrial metals apart from nickel rose on Friday, boosted by weaker US Dollar and an unexpected increase in German Ifo business confidence index this month. However, the upswing was capped as investors awaited the IMF and European finance ministers' decision on Greek bailout.Aluminum was the top-gainer on hopes for better demand in China. However, record inventories at global exchanges as
Precious metals rallied on Friday amid broadly weaker US Dollar and upbeat German confidence data. German Ifo Institute announced that its business confidence index jumped to 101.4 in November, compared to forecasts of a decline to 99.5. Meanwhile, market players remained focused on the EU finance misters' talks on Greek bailout due to be resumed on Monday.Gold surged on record
The Pound appreciated against the greenback as recent data showed mortgage approvals advanced to their highest level in nine months in October. The Sterling dropped to its lowest level earlier this month on the eurogroup's meeting. The currency rose 0.6% to $1.6030, after earlier peaking at $ 1.6035 and stayed little changed at 80.87 pence per Euro.