Denmark's seasonally adjusted unemployment rate rose slightly to 4.7 per cent in July, from 4.6 per cent in the preceding month. Experts had predicted nation's jobless rate to climb to 4.7 per cent. The total number of unemployed people in Denmark jumped to 123,500, from 120,700 in June and 117,600 in May.
As reported by the Commerce Department, personal spending in the world's biggest economy rose 0.4 per cent in July, in line with expectations. While consumer spending jumped to a highest level since February, personal income added 0.3 per cent last month, matching forecasts, after rising by a revised 0.3 per cent in the previous month. Nation's savings rate fell to 4.2 per cent in July
Natural-gas futures advanced on Thursday after an official report posted a significant rise in stockpiles. The Energy Information Administration announced a supply growth of 66 billion cubic feet for last week, analysts awaited a rise between 36 bcf and 40 bcf. Prices at first slipped, but rebound shortly. October-delivery natural gas surged 1.5% to $2.73 per million U.K. thermal units.
U.S. stocks slipped on Thursday after economic confidence in Eurozone dropped to the weakest in three years. The Dow Jones Industrial Average slid 0.06% to 13,031.05. The S&P 500 Index fell 0.06% to 1,402.06. The Nasdaq Composite retreated 0.07% to 3,060.46. The U.S. Dollar depreciated versus its major peers, including the Euro.
German Bunds rose, with 10-year rate reaching a four-week low, as Murcia became the third region in Spain to announce a need for emergency loans, fueling demand for the Eurozone's safest assets. Germany's 10-year note rate slid 4 basis points to 1.34%. Italy's 10-year yields rose 2 basis points to 5.79%. Spain's 10-year note yield surged 12 basis points to
German blue chips index sank on Thursday as German unemployment rose for the fifth consecutive month in August amid spreading Eurozone's crisis. The seasonally adjusted unemployment rate stood at 6.8% in August. However, yields on 10-year sovereign bunds approached four-year low on Thursday, indicating that German economy is still perceived as stable. The German DAX Index retreated by 0.83% to
UK stocks are trading in the red territory on Thursday on pessimistic news from Japan and South Korea. Japan's retail sales dropped more than expected in July while South Korea's PPI missed forecasts last month. Moreover, speculation that the Fed president will not announce easing measures on Friday added pressure on UK equities. The FTSE 100 Index inched down by
Treasuries advanced on Thursday after U.S. data posting first-time unemployment claims held unchanged at 374,000 in week ended at Aug. 24, while consumer spending increased. 10-year note yield tumbled to 1.62%. 30-year note rate declined to 2.72%. 5-year debt yield slipped to 0.67%.
Australia's business investment posted more-than-estimated rise in Q2 as investment increase in mining set off decrease in the manufacturing and other areas. Total new capital growth rose 3.4% on quarter in Q2, the Australian Bureau of Statistics said on Thursday. Business investment also posted a 27.4% climb on year in Q2.
New Zealand business confidence advanced in August amid strong residential investment intentions, the National Bank of New Zealand said on Thursday. The business sentiment surged to 19.5, compared to 15.1 in July. Meanwhile, firms' activity expectations rose to 26.4 from 24 in previous month. Inflation expectations showed optimism, down to 2.3%, the least since November 1999.
German unemployment rose in August for the fifth straight month as companies increased firing rate amid euro area's recession concerns. The number of jobless Germans surged adjusted 9,000 on month to 2.9 million in August. Economists expected a rise of 7,000, after July's increase of 9,000. Meanwhile, the unemployment rate held unchanged at adjusted 6.8% in August.
Euro area's economic confidence slid more than expected in August as European leaders failed to curb region's recession and the crisis worsened. Executive and consumer sentiment index in the Eurozone slipped to 86.1 from 87.9 in previous month, the European Commission announced on Thursday. The reading was the weakest since August 2009, and fell behind economists' estimate of 87.5.
Oil slipped for a second day after U.S. inventories increased unexpectedly and Hurricane Isaac weakened. Futures tumbled 0.6%, after a 0.9% drop yesterday. October-delivery oil fell to $94.91 per barrel in New York. October-settlement Brent oil advanced 11 cents to $112.65 per barrel in London.
European stocks declined for a third day on data from Asia to Europe adding signs of global growth slowdown, while speculation weakened that Fed Chairman Ben Bernanke will declare further stimulus. The Stoxx Europe 600 Index tumbled 0.5% to 265.57, increasing this weeks fall to 0.9%.
Chinese equities plunged on Thursday amid fading hopes for monetary easing in the country. On Wednesday, Xinhua News Agency reported that China may slow easing measures because of inflation concerns. The Hang Seng Index sank 1.19% to end Thursday's session at 19,552.91. All sectors included in the index slumped. The top-losers were technology and industrial stocks. Tencent Holdings and Citic
The Nikkei 225 Index tumbled by 0.95% to close at 8,983.78 on Thursday. Easing hopes that the Fed will loosen its monetary policy as well as bigger-than-expected slump in Japan's retail sales in July created heavy pressure on the Japanese equities. Concerns that China will not embark on monetary easing because of high inflation rate also weighed on Nikkei average.
US blue chips were slightly higher despite escalated worries that the Fed will not ease its monetary policy further amid positive economic data. On Wednesday, the Fed released its Beige Book, stating that the US economy faced gradual expansion over July and August. Meanwhile, traders were cautious ahead of Jackson Hole Symposium due to start on Friday. The Dow Jones
US stocks edged up on Wednesday on upbeat data from the US property market and upward revision of the Q2 GDP growth. However, reports that the US economy expanded gradually in the last two months weighted down on hopes for QE3, sending US stocks lower. The S&P 500 Index inched up by 0.08% to close at 1,410.49. Seven out of
Agricultural commodities were mixed on Wednesday, with grains advancing and coffee and sugar falling. Market players continued to monitor weather forecasts in Brazil, India, Russia and the US as harvest conditions remained the main driver for farm commodities. Wheat soared on news that Russia's exportable wheat surplus is likely to run out by the end of autumn if the county maintains
Energy commodities except for natural gas moved lower on Wednesday after US inventory data. Removing supply risk premium, the US National Hurricane Center downgraded Isaac to a tropical storm. Broadly stronger US Dollar also pressurized the commodity group. Crude oil was the worst-performer after the EIA reported that US crude oil stockpiles climbed by 3.8 million barrels last week compared to
Base metals apart from nickel slumped on Wednesday as hopes for additional monetary stimulus in China started to vanish. Xinhua News Agency announced that China may slow easing measures as inflationary pressure remains high. Aluminum extended previous slump on continuous oversupply in the market and stronger US Dollar. However, a slight decline in LME inventories lent support for the light metal. Copper
Precious metals dropped on Wednesday amid upbeat US data releases. US GDP expanded by 1.7% in Q2 compared to initial reading of 1.5% while pending home sales advanced 2.4% in July, better than forecast of a 1.1% increase. Positive data weighted down on hopes for easing in the US, pushing the commodity group lower. Gold slumped as expectation for QE3 in
Asian stocks erased monthly gain as data on South Korean business confidence and Japanese retail sales added to concern of economic slowdown and investors weighed whether the Fed will signal a new round of bond-buying. The MSCI Asia Pacific Index dropped 0.1% to 118.16. Both Japan's Nikkei 225 Stock Average and Australia's S&P/ASX 200 Index declined 1%.
The Canadian Dollar strengthened versus the most of its major counterparts as the U.S. economy grew more than economists estimated in the Q2. The Loonie lost 0.1% to 98.84 cents per U.S counterpart, following a 0.2% gain earlier. However, advance in the currency was limited as crude oil futures declined. Oil fell 1.2% to $95.18 per barrel.