The retail sales of Japan surged by 3.5% in February on a monthly basis, according to the Trade Ministry. Experts predicted the sales to jump by 1.3% last month. The rise of the sales figures and improving equity markets indicate recovery of the Japanese economy. However, experts do not expect the domestic consumption to gain further because of weak labour
The average house price in the UK declined by 1% this month while taken annualized rate home prices decreased by 0.9% in March. Experts say the fall was expected as the duty stamp easing that boosted the demand in the beginning of 2012 has expired. However, in case the overall outlook improves and the government's stimulating measures prove to be
S&P 500 index extended downward path on Wednesday as oil prices tumbled and orders for durable goods in US rose only 2.2% compared to predicted 2.9% gain. US benchmark gauge lost 0.49% or 6.98 points and closed at 1,405.54. Medco Health Solutions rallied 3.2% on news it may be acquired by Express Scripts, a deal worth about USD 29 billion.
EUR/USD was capped at 1.3385, tumbled to 1.3277, forming a Channel Up pattern on 4H Chart. The pattern has 62% quality along with 40% magnitude within 21 bars.The pair has been growing since March 15, after two-week depreciation by 3.7%. Most of indicators remain neutral, while MACD and SAR lead to the pair's possible fall. If the price decreases, investors
The yellow metal advanced during Asian session on Thursday amid bargain buying as gold slid after dismal data on the US durable goods sales. COMEX gold for delivery in June traded at 1,666.05 US Dollars per troy ounce on the New York Mercantile Exchange, jumping by 0.33%.
Fitch Ratings has lowered its forecast of Japanese economy's growth for this year from 2.2% to 1.9%. The agency reported that the decision was made because of statistical changes of the base year computation using the national accounts. Fitch also added that it expects slightly stronger domestic consumption growth in Japan amid the better incomes.
The CPI in Germany increased mainly in compliance with expectations this month, reported German Federal Statistics Bureau. The CPI added 0.3% in March as compared to a 0.7% increase in the preceding month. Considering yearly moves, the CPI advanced by 2.1% in March while analysts projected a 2.2% rise.
The members of the Brick are participating in summit in India aimed at discussing prospects of closer trading ties. The leaders of the Brick countries are expected to establish a new bank which will provide financial backup for projects in developing countries. The five Brick countries account for 28% of the world's economy and the share is likely to expand
Analysts predict Czech central bank will stick to record-low interest rates for a 15th straight meeting as economic slowdown keeps offsetting inflationary pressure. Economists expect the country's benchmark rate will stay at 0.75% or a 1/4 point less than ECB key rate. Czech GDP declined 0.1% in the fourth quarter.
Russia sold about 7 billion US Dollars of 5-year, 10- and 30-year bonds on Wednesday. Last May Russia sold over 800 billion US Dollars in notes with 10-year maturity while in April of 2010 the country sold 5.5 billion US Dollars split between 5 and 10-year bonds. Russia's debt is popular among investors as they were ready to buy three
Japanese Yen advanced versus all of its peers as Asian shares fell on Thursday, stimulating demand for less risky assets. Yen prolonged its appreciation against US Dollar and climbed 0.2% to JPY 82.70. Japan's currency also added 0.2% versus 17-nation currency to JPY 110.15. Currently USD/JPY is trading at JPY 82.65 and EUR/JPY is trading at JPY 110.06.
Australian currency fell against most of its counterparts on Thursday after Wayne Swan, central bank's Treasurer announced nation's budget surplus target will call for spending cuts. Aussie lost 0.2% versus US Dollar to USD 1.0373 while Kiwi traded almost flat at USD 0.8170. Currently AUD/USD is trading at USD 1.0361 and NZD/USD is trading at USD 0.8161.
US markets traded lower on Wednesday as the orders for durable goods rose less than expected. Energy shares provided the main losses for the indices. S&P 500 index fell 0.49% or 6.98 points and closed at 1,405.54. Dow Jones Industrial Average index shed 0.54% or 71.52 points and settled at 13,126.21. Meanwhile Nasdaq Composite index slipped 0.49% or 15.39 points
British economy contracted more in the fourth quarter than initially was determined. Country's GDP for the fourth quarter of 2011 declined 0.3% compared to earlier calculated drop of 0.2%. The report also presented real household disposable revenue tumbled 1.2% in 2011, the biggest fall since 1977. That compares with a 0.2% drop in 2010.
European shares finished lower on Wednesday as Jens Weidmann, ECB's Governing Council member pointed out stimulating the euro region's bailout funds will not end its debt woe. German DAX index dropped 1.1% to 6,998.80, FTSE 100 index fell 1% and closed at 5,808.99 while French CAC 40 index shed 1.1% to 3,430.15. Stoxx Europe 600 index also gave up 1.1%
The Sterling weakened the most in since February 22 after a data showed nation's GDP declined more than previously estimated in fourth quarter. The Pound fell 0.5% versus Euro to GBP 0.8391 and dropped 0.3% against the greenback to USD 1.5910 on Wednesday. Currently EUR/GBP is trading at GBP 0.8370 and GBP/USD is trading at USD 1.5906.
Orders for large magnitude items in US climbed at slower pace than predicted in February, reported government on Wednesday. Orders for durable goods advanced 2.2% in previous month compared to an expected 2.9% gain. On yearly basis, however, durable goods orders have grew by 13.5% suggesting more optimistic long-term trend, analysts claimed.
Asian markets experienced a weak session on Wednesday as Societe Generale SA announced China's corporate profits won't advance in 2012 and country's biggest copper manufacturer Jiangxi Copper posted declining earnings. Shanghai Composite index plunged 2.65%, Hang Seng index fell 0.77% and Japan's Nikkei Stock Average shed 0.71%. South Korea's Kospi dropped 0.39% while Australia's S&P/ASX 200 index disrupted the downward trend and
German DAX index edged down on Wednesday as US orders for durable climbed less than expected and Fed's chairman Bernake warned it is too early to claim economic recovery. Commerzbank AG dropped 1.8% and Heidelbergcement fell 1.7%. On the upside Infineon Technologies rallied 2.1% on news semiconductor maker increased its stock price estimate by 30% to EUR 9.5. At the
Japan's Nikkei Stock Average breached upward trend on Wednesday, pushed down by lower than expected US consumer confidence. Nikkei 225 index lost 0.71% or 72.58 points and settled at 10,182.57. Sharp Corp. rallied 15% after Foxconn Technology Group said it will buy a stake in the display producer. Nippon Kayaku edged down 3% after reporting a 14% drop in its
Hong Kong's Hang Seng index retreated from previous gains on Wednesday, affected by developments in mainland's market. Societe Generale SA announced China's corporate profits won't expand in 2012 and country's biggest copper manufacturer Jiangxi Copper posted diminishing earnings. Hang Seng index fell 0.77% or 161.49 points and finished at 20,885.42. Li & Fung lost 5.2% after company raised USD 501
Dow Jones Industrial Average index pulled back on Tuesday as data showed US consumer confidence index dropped by 1.4 points to 70.2 in March. Blue chip index fell 0.3% or 3.90 points and finished at 13,197.73. Pfizer rallied 1.5% after its CEO Ian Read said the firm is considering to spin off or to sell its units of nutrition and
S&P 500 index closed lower on Tuesday as investors locked in profits after rapid gains on Monday and data showed consumer confidence declined more than predicted in March. US benchmark slipped 0.3% or 3.99 points and closed at 1,412.52. Apollo Group tumbled 8.5% after Credit Suisse downgraded its outlook for the stock to neutral. Lennar jumped 4.7% as its EPS
Rural commodities apart from coffee were lower on Tuesday amid uncertainty over China's demand and worse consumer confidence in the US. Wheat came under strong pressure as rainfalls in the key crop-producing regions in the US are likely to boost this year harvest. Meanwhile, corn's correction was blocked by the high US inventory levels. Sugar lost 1.94% as the commodity