As the Ministry of Labor and Social Affairs announced today, the Czech Republic unemployment level increased to 8.5% in October, or 0.1% comparing with the previous month. Analysts expected that the unemployment will stay the same, 8.4%, in October. More detailed statistic says, that 10.2% women and 7.2% men were seeking a job in October.
The Sterling advanced 0.1% to 79.83 pence per Euro in very early Europe trading session on Thursday. The Pound has reached the peak in five weeks against the European Union currency. Investors are waiting for the Bank of England decision on further monetary policy. Analysts expect that governors will maintain quantitative easing program with targets of 375 billion pounds.
The Stoxx Europe 600 Index was 0.5% higher to 272.46 points in early Europe trading session on Thursday. European markets gain, as Repsol SA, Swiss Re Ltd and Siemens AG announced financial results, which exceed street estimations. Also, today will be announced the Bank of England and the ECB decisions on the key interest changes.
U.S. government securities reached 0.6% return in the last month, accomplished by yesterday's rally as Barack Obama won the presidential re-election. Fidelity and Pimco investment management funds said, that political games will return to the scene and current policy uncertainty will bring the economy downwards, therefore the demand for bonds will sharply increase pushing bond prices up.
US Blue chips sagged on risk-off Wednesday's trade as investors were cautious after the European Commission downgraded its growth estimate for the eurozone. The market sentiment was also weakened by uncertainty over the US tax increases and spending cuts due to come in force in January. Moreover, market participants focused on the Chinese Communist Party Congress due on Thursday. The
Wall Street slammed on Wednesday amid warning signals from the eurozone and lingering concerns over the US fiscal cliff. The European Commission cut its growth estimate for the region from 1% to 0.1% for 2013. It also lowered German forecast from 1.7% to 0.8%, raising concerns over health of the eurozone's strongest economy. Meanwhile, investors remained cautious ahead of the
Agricultural commodities, excluding sugar, climbed on Wednesday despite stronger US Dollar. Escalating economic instability on the both sides of the Atlantics also dragged farm commodities lower. However, lingering global supply worries created strong support for the commodity group.Wheat rallied to the highest level in five weeks on speculation that poor crop conditions in the US coupled with planting delays in
Hong Kong equities sank on Thursday as investors were cautious after 18th Chinese Communist Party Congress started on Thursday, where a leadership change is to take place. Pushing Hong Kong blue chips lower, the European Commission lowered its growth forecast for the eurozone from 1% to 0.1% for 2013. Moreover, worries over the US fiscal cliff also added to losses
Jobless rate in Switzerland inched up from 2.9% in September to 3% in October on seasonally adjusted basis, the State Secretariat for Economic Affairs said. The figure appeared to be in line with forecast of economists. There were 125,536 registered jobless people in Switzerland in October, increasing 4.3% from 120,347 in the month earlier. "What the October data on the SNB's
Energy futures plunged on Wednesday amid appreciating greenback and global economic concerns. Meanwhile, an increase in the US crude oil stockpiles and uncertainty over the US fiscal cliff added to heavy losses of the commodity group.Crude oil plummeted after the EIA report indicated that the US crude oil inventories jumped by 1.8 million barrels last week, broadly in line with
According to the Australian Bureau of Statistics, unemployment rate in Australia fell to 5.4% in October ahead of economists' expectations of 5.5%. The number of people in work increased by 10,700 to 11,523,200 in October, whereas the number of unemployed fell by 8,000 to 653,200. Labour force participation rate slightly decreased to 65.1% in October compared to 65.2% in September.
Industrial metals except for aluminum erased previous gains on Wednesday. Base metals came under heavy pressure as investors were cautious ahead of the US budget clashes and Chinese Communist Party Congress due on Thursday. Adding to the negative mood of the commodity group, the European Commission cut its growth forecast for the eurozone from 1% to 0.1% for 2013. It
Precious metals apart from gold plunged on Wednesday amid broadly stronger greenback and mounting concerns over the US fiscal cliff. Market sentiment was further dampened by on-going concerns over the eurozone's economic instability. Gold inched up as US President Barack Obama re-election ignited hopes that the country will stick to its accommodative monetary policy. However, concerns over the US fiscal
The U.S. dollar strengthened against its trading counterparts as investors sought to save their assets on fear that the U.S. president and the Congress will face difficulties in preventing the fiscal cliff. The greenback traded at $1.2767 per euro, rebounding from $1.2771 yesterday. The Dollar Index (DXY), tracking the currency against six trading partners of the U.S., inched up to 80.762 from 80.759 on Wednesday.
Exports in Germany fell 2.5% in September from the previous month, offsetting a 2.3% increase in August, according to Destatis. Economist had projected a 1.5% monthly drop. Imports declined 1.6% after growing 0.4% in August. The trade surplus increased from EUR 16.3 billion in August to EUR 16.9 billion and was more than EUR 15.5 billion economists' forecast.
Oil rose from almost a 4-month low amid speculation that the biggest decrease in 2012 was exaggerated on signs of rising demand in Asia. Oil for December settlement gained 71 cents to $85.15 a barrel in New York, while the contract was at $85.13 at 2:31 p.m. in Singapore. It fell $4.27 to $84.44 yesterday, the lowest close in four
The number of jobless New Zealanders rose by 13,000 to 175,000 in the third quarter, taking the nation's unemployment rate to the highest value in 13 years, according to the government statistics agency. The official jobless rate increased from 6.8% in the Q2 to 7.3%, putting the government under pressure. The number of people in work declined by 8,000 or
Aussie advanced to its seven-week high against the New Zealand's dollar and traded up versus its major peers amid improving employment in Australia, and expectations on Reserve Bank to cut borrowing costs in December. The Australian dollar gained 0.2% to NZ$1.2740, after peaking to NZ$1.2748 earlier. Meanwhile, the kiwi lost to the U.S. dollar, by dropping 0.2% to 81.67 cents on soaring unemployment.
Asian equities dropped touching the lowest level in six weeks and the Japanese yen rallied on Barack Obama's re-election. Investors are setting to the sidelines fearing from the fiscal cliff. The MSCI Asia Pacific Index (MXAP) fell 1.3%, and 56% of the reading's companies reported lower-than-expected profits. Meanwhile the Nikkei 225 Stock Average index eased 1.6% on tumbling orders for Japanese machinery, and the Yen traded
German equities swung to losses as the eurozone's growth forecast cut outweighed US President's re-election. The European Commission also lowered its forecast for Germany from 1.7% to 0.8% for 2013. Adding to the negative mood of the stocks, German industrial production tumbled more than expected in September. An unexpected fall in the eurozone's retail sales also added to losses. The
UK stocks opened on the positive note as the US President Barack Obama was re-elected. However, equities tumbled after the European Commission revised down its growth forecast for the eurozone. The European Commission cut its growth forecast for 2013 from 1% to 0.1%. The FTSE 100 Index shed 0.34% to trade at 5,864.96. Only two in ten sectors within the
In October, Swiss foreign exchange reserves tumbled for the first time after 8 months and price pressures held low allowing the bank to put more control on the franc. The Swiss National Bank kept 424.38 billion francs of currency holdings this month that was lower than the 429.48 billion francs reserved in September. Although the debt turmoil in the euro-area induced Switzerland to intervene, a
German bonds advanced as in his speech Mario Draghi said the inflation risks were low, and the debt turmoil threatens to devastate Germany's economy. The yield on Germany's 10-year bonds lost 6 basis points and was at 1.38%, yet surging from earlier 1.37%. Two-year yields dropped 4 basis points to -0.044%.
Hong Kong shares gained on Wednesday after US President Barack Obama was re-elected for the second term. Developments in Greece also drew trader's attention as the country is voting on the new round of austerity measures later in the day. Meanwhile, investors remained focused on upcoming Chinese Communist Party Congress due on Thursday where China's leader will be elected. The