China's foreign debt last year reached the 26-year high of 695 billion US Dollars, reported the State Administration of Foreign Exchange. The outstanding debt rocketed by 27% last year as compared to 2010. The part of short-term loan to total soared to 72% from 68% in 2010, signaling on fast increase in China's foreign trade.
Crude oil futures appreciated during Asian session on Friday despite broadly stronger US Dollar. Light, sweet crude oil futures for delivery in May traded at 105.65 US Dollar per barrel on the New York Mercantile Exchange, adding 0.28%. Meanwhile, Brent oil May contract traded at 123.32 US Dollars per barrel, gaining 0.19%.
Nike has announced higher profits in the last quarter due to strong demand that offset increasing production costs. Profit of the sportswear producer in the last quarter that ended in February soared by 7% year-to-year, attaining 560 million US Dollars on the 15% increase in total revenues. The economic climate stays highly uncertain but we are optimistic about the company
The nationwide consumer sentiment index declined unexpectedly in February, reported Nationwide. The index tumbled to 44 on a seasonally adjusted basis last month from 47 in January. Experts projected the figure to approach 49 in February. Currently, GBP/USD is traded at 1.5817, falling by 0.03%.
China's GDP expansion may slow further in Q1 of 2012, approaching 8.5% as compared to 8.9% in the last quarter of 2011. The global economic uncertainty and sharp slump of the domestic real estate market are pushing the government to consider more policy shifts, said an economist from State Council. However, the total GDP for 2012 is expected to hit
European equities fell on Thursday, pressed by weaker PMI readings both from China and Euro Area, boosting concerns about further recovery of region. Stoxx Europe 600 gave up 1.2%, FTSE 100 index slipped 0.8% and German DAX lost 1.3%. French CAC 40 index tumbled 1.6% and Italian FTSE MIB index shed 1.7%.
The India's central bank is moving closer to easing its prudent monetary policy; however, the time for loosing is dependent on the economic situation in the country, said the deputy governor of India's central bank. At the same time, soaring energy prices, weak rupee and fiscal deficit continued to create inflationary pressure on the country thus putting the government off
The number of manufacturing orders in Euro Area dropped more than expected in January as companies struggled to overcome region's crisis amid cooling Chinese economy. Production orders in Euro countries shed 2.3% in the first month of 2012. Analysts questioned by Reuters predicted a 2.1% decline.
Canada's retail sales climbed at slower pace than analysts expected in January as a surge in new vehicle sales was offset by a drop in electronic and home-improvement goods' sales. Retail sales added 0.5% compared to forecast advance of 1.8%, Statistic Canada reported on Thursday. Loonie weakened 0.7% against greenback on the news.
Gold prices decreased during the Asian session on Friday amid stronger US Dollar. The US Dollar index, which measures its performance against set of six main currencies, added 0.02% to USD79.97. COMEX gold April contract traded at 1643.25 US Dollars per troy ounce on the New York Mercantile Exchange, easing down by 0.05%.
The number of applications for jobless benefits reached the lowest reading since 2006, Labor Department said on Thursday. The unemployment claims fell by 5000 to 348 000 last week. Economists earlier predicted jobless claims to stay at previous level at 353 000. Another report said the measure of leading indicators climbed in February, attaining 11 month record high.
Canadian core retail sales that excludes automobile sales tumbled in January after gaining for seven consecutive months, reported Statistics Canada. The core retail sales decreased by 0.5% in January on a seasonally adjusted basis while experts predicted the sales to climb by 0.5%. The major contributors to the decline were garden equipment and building materials.
The GDP of the Republic of Ireland slumped by 0.2% in the last quarter of 2011, after declining by 1.1% in the preceding quarter, according to Central Statistics Office. The economic contraction indicates that the country is falling back into crisis. Global financial uncertainty continued to weight down on the Ireland's exports that declined by 1.1% whereas domestic spending continued
Mario Draghi announced that the European economy has started to stabilize and the worst stage is over. He also claimed that some economic indicators as budget balance and inflation are better than those of the US. The ECB President reassured that there would not be more severe crisis because of intensive lending to the European banks at low interest rates.
Rural commodities apart from coffee declined on Wednesday amid stronger US Dollar and deteriorating situation in China. Grains also came under pressure because of favorable weather conditions in the US that may provoke earlier harvest. Moreover, more pessimistic outlook on China's economy is likely to weight down on the China's grain imports. Meanwhile, sugar continued to be exposed to the
Energy prices moved higher despite strong US Dollar and ongoing China's growth concerns after pessimistic PMI data. Crude and Brent oil were strongly supported by unexpected fall in the US oil inventories last week. Meanwhile, traders continued to eye development across Iranian oil embargo. Currently, the geopolitical tensions eased as Saudi Arabia announced it is ready to increase its output
Industry metals except for copper tumbled on Wednesday on the firmer Dollar and weak equities. China's PMI data that indicated contraction weighted down on the metals and is likely to stay the main correction factor for the base metals price. Weaker than expected US housing market data also added to the negative mood of the commodity pack. At the same
Precious metals fell on Wednesday amid stronger US Dollar and steady equities. Stabilization of the US and EU economies also continued to damped the safe-haven appeal of the metals pack. Moreover, lack of interest in precious metals purchases from large gold and silver-backed funds blocked any upside move. The yellow metal was only marginally lower as it managed to find
Rural commodities apart from coffee declined on Wednesday amid stronger US Dollar and deteriorating situation in China. Grains also came under pressure because of favorable weather conditions in the US that may provoke earlier harvest. Moreover, more pessimistic outlook on China's economy is likely to weight down on the China's grain imports. Meanwhile, sugar continued to be exposed to the
Precious metals fell on Wednesday amid stronger US Dollar and steady equities. Stabilization of the US and EU economies also continued to damped the safe-haven appeal of the metals pack. Moreover, lack of interest in precious metals purchases from large gold and silver-backed funds blocked any upside move. The yellow metal was only marginally lower as it managed to find
Energy prices moved higher despite strong US Dollar and ongoing China's growth concerns after pessimistic PMI data. Crude and Brent oil were strongly supported by unexpected fall in the US oil inventories last week. Meanwhile, traders continued to eye development across Iranian oil embargo. Currently, the geopolitical tensions eased as Saudi Arabia announced it is ready to increase its output
Industry metals except for copper tumbled on Wednesday on the firmer Dollar and weak equities. China's PMI data that indicated contraction weighted down on the metals and is likely to stay the main correction factor for the base metals price. Weaker than expected US housing market data also added to the negative mood of the commodity pack. At the same
German DAX index tumbled on Thursday as weaker than expected manufacturing activity in March both in China and Euro Area boosted worries, the global economy may fall back into recession. All nine sectors within the index posted losses led by car makers and financials. Deutsche Bank AG lost 2% and Commerzbank AG fell 2.7%. Volkswagen AG declined 1% and BMW
British FTSE 100 fell on Thursday pushed down by Randgold Resources on news suspected military stunt in the African country of Mali, the third biggest gold provider. Randgold plunged 12% on the announcement. Other miners also tumbled on weaker Chinese PMI data. Fresnillo lost 5.8%, Kazakhmys slipped 2% and Vedanta Resources declined 4%. UK banks fell on disappointing Euro Area