The surplus of the Eurozone's current account slumped to 13.7 billion euro in September of the current year from 17.9 billion euro a month earlier, while analysts predicted the surplus to reach 18.3 billion euro. At the same time, economists point out that almost all the surplus comes from the trade balance, while such countries as Greece, Spain and Portugal
The British Sterling fluctuated on Monday against the U.S. Dollar and the 17-nation bloc currency after a government reports showed that house prices in the United Kingdom slipped in the month of November. The Pound traded at $1.6134 by 7:27 a.m. in London following a jump to the highest level since October 29 at $1.6143, while it traded at 93.63
Corn declined on Monday falling to the weakest level in a week after a demand for biofuels-producing crops was reduced as the U.S. government proposed changed requirements in amounts of renewable fuels such as biodiesel and corn ethanol. Corn for delivery in March fell 0.8% to $4.2725 a bushel on the CBOT, the lowest since November 11.
European benchmark Brent crude declined on Monday narrowing the WTI-Brent spread for the first time in a six-day period after the biggest producer of the OPEC, Saudi Arabia, exported 10.12 million barrels of the oil per day in September. Brent for January delivery slipped 44 cents to $108.06 a barrel on the London's ICE Futures Exchange, while the WTI-Brent spread
West Texas Intermediate crude decreased on Monday extending its longest losing streak in almost fifteen years after a report showed that Saudi Arabia increased its oil exports the most in eight years. WTI for delivery in December slid 46 cents to $9.38 a barrel on the NYMEX and traded at $93.52 as of 3:45 p.m. in Singapore, after it jumped
The U.S. Dollar slipped on Monday pushing the currency index measuring performance against its most-traded peers towards the lowest level in a week on speculation the Federal Reserve Chairman-nominee may claim a need for continued stimulus. The U.S. Dollar Index fell 0.2% to 1,015.38 as of 8:08 a.m. London time, the least since November 6.
Property prices in London declined 5% in November of this year, while the government support program did not stop the seasonal home sales' decrease. According to Rightmove Plc. data, housing prices in London dropped to the average of 517,276 pounds. In November, in turn, prices surged 10%. At the same time, the average prices across Wales and England lost 2.4%
Interest rates swaps in the U.S. declined on Monday falling to the lowest level in more than a three-year period relative to Treasuries as investors sought riskier assets outside of government debt on speculation that Fed's Chairman Janet Yellen keep borrowing costs low. The 5-year bond and similar-maturity swap gap narrowed to 9.25%, the lowest since March 2010.
European equities swung between gains and losses in Monday after the benchmark local index Stoxx Europe 600 recorded the longest streak of gains in 15 months as China's government unveiled the broadest economic reform since 1990. The Stoxx Europe 600 Index fell 0.2% to 322.51 as of 8:10 a.m. London time after it rose 6 successive weeks on speculation that
Home prices in the world's second largest economy increased to the highest level all time in the month of October just few days after the country's government revealed an economic reform aiming at long-term stable property market. New home prices in Chinese 70 major cities gained 9.6% on an annual basis rising for the tenth straight month in October.
Asia stocks increased on Monday rising for a third successive session amid speculation that the Federal Reserve may continue its bond-purchasing program and after China's lawmakers came out with new economic reform. The MSCI Asia-Pacific index outside Japan gained 1.4% as Chinese offshore market index added more than 5% on the session.
Thailand officials have cut the outlook for economic growth in 2013, while exports and investment declined. Moreover, the economic expansion in the July-September quarter did not match economists' forecasts, increasing 2.7% versus a 3% prediction. Now, the government expects the economy to advance 3% this year, while the previous forecast estimated the growth of 3.8-4.3%.
The trade surplus of Italy unexpectedly dropped to 794 million euro in September of the current year from 1.07 billion a month earlier, while analysts expected the positive trade balance to extend to 1.63 billion euro. However, the surplus surged from 131 million euro in September of the previous year. On the annual basis, exports jumped 2% versus 5.4% drop
The trade gap of the United States surged to $41.8 billion in September of this year from $38.7 billion a month earlier, while economists forecasted the deficit to advance slightly to $39 billion. Imports of such products as automobiles and mobile phones jumped, while exports declined. At the same time, the rise in imports indicates the high confidence among American
The Asian shares strives for the first weekly advance in a month, afterwards the Federal Reserve chairman nominee, Janet Yellen, announced to remain U.S. stimulus unchanged, and speculation was made that China is going to release details of optimistic economic reform.The MSCI Asia Pacific Index advanced 1.3%, thus extending weekly gain to 1.8%.
Moody's, one of the largest rating agencies in the world, lowered four American banks' ratings. It is said that in case of financial crisis, the government will less likely help these banks. These banks include Goldman Sachs, Bank of New York Mellon, JPMorgan Chase and Morgan Stanley. At the same time, the ratings of another four biggest U.S. banks were
The Canadian Dollar dropped 0.1% against the U.S. Dollar, thus reaching the lowest level in more than two months, after the chairman nominee of Federal Reserve, Janet Yellen, announced that the stimulus will remain unchanged until the U.S. economy improves. So far this year the so-called loonie has depreciated 2% versus nine major peers.
Japanese shares advanced, pushing the Nikkei Stock Average 2.1% higher, thus crossing 15,000 mark, which is the highest level in six-moths, as investors supported Janet Yellen comments on remaining stimulus unchanged. The biggest gains in Japanese stocks reported Dai-ichi Life insurance, which rallied 4.3% after increasing profit forecasts, while Sony Corp. soared 3.7% before the release of the Sony Playstation 4 console.
The Japanese Yen dropped 0.2% versus the greenback, thus reaching the lowest level in two-months, after stocks showed significant gains the demand for safe haven assets plummeted. The Japanese currency has retreated 1.2% against the U.S Dollar in last three weeks, while the Yen is still set for losses, as analysts predict that the Bank of Japan in next weeks meeting is going to report slower
Trade deficit of South Africa was decreased, comparing with initial evaluation, as the country revised some trade data with neighboring countries. The negative balance stood at $6.3 billion in January-September of 2013, down from $12.38 billion that was initially estimated. The renewed number includes a surplus of $6.08 billion in trade with such countries as Namibia, Swaziland and Botswana.
The Pound surged 0.9% against the Japanese Yen, thus reaching the strongest level in four-years, after the growth of Asian nation's slowed and speculations appeared that U.K. economy will surpass its major peers. The Sterling also paired gains of 0.3% against the shared currency, after yesterday Pound jumped 0.6% on bets that U.K. might rise interest rates as the economy improves.
Wal-Mart Stores Inc., the largest retailer in the world, trimmed its profit forecast for the current year, as the company struggles with declining number of low-income customers, while the profit dropped in Q3. According to the new prediction, earnings per share could decrease to $5.11 in 2013. Yesterday, Wal-Mart Stores Inc. equities added 0.23% to $79.08 per share during trading
Canada's trade deficit shrink to $435 million down from $1.1 billion in September, surpassing economists expectations of maximum decline to $1 billion, after Canadian Statistics Tuesday's report showed exports rocketed 1.8% while imports only little changed, adding 0.2%. The higher exports where mainly boosted by energy products, like oil and natural gas, and transportation facilities.
U.S. initial claims for jobless benefits decreased by 2.000 to 339.000 last week, heading for fifth straight weekly fall, the Labor Department releases revealed on Tuesday, while non-farm employment advanced by 130.000 in October from previous month and expected to rise by 150.000 in November. At the same time the seasonally adjusted unemployment rate remained unchanged from the last