Private sector in Germany decreased in April, but the fall was at slower rate than economists originally expected, a data revealed by the Markit Economics unveiled on Monday. According to data the Purchasing Managers' Index declined from 50.6 in March to 49.2 in April, while the services PMI fell from 50.9 to 49.6 in the same month.
Investor confidence in the 17-nation bloc increased in the month of May after it was falling in the previous two periods, a report released by the think-tank Sentix unveiled on Monday. According to the report the investor confidence index added 1.7 points, when it advanced from -17.3 recorded in April to -15.6 in May, however, it was expected to rise
Growth of Chinese service sector slowed down to the lowest level in almost two years in April amid falling new orders and declining employment level on the month, the latest figures released by the Markit Economics and HSBC showed on Monday. The business activity index dropped from 54.3 to 51.1 in April from the month before, while the composite output
Economic outlook of Italy for 2013 was downgraded by the statistical office Istat amid weak domestic demand overshadowing positive contribution of demand from other countries, while total investments are expected to drop on negative economic sentiment. Italy's economy is forecast to fall by 1.4% in 2013, downwardly revised from a 0.5% fall projected in November.
Gold futures increased on Monday as the metal entered a bull market two weeks ago amid bets of hedge funds on further increase after central banks world-wide signaled more stimulus measures in order to boost the economy. Bullion advanced by 4.9% in the last two weeks and the gold futures jumped by 0.7% to $1,464.20 an ounce on the Comex
The Japanese currency fell on Monday heading to a 100-per-U.S. Dollar level, while the Euro depreciated amid unfavourable data reported by the Eurostat showing weaker manufacturing output and lower level of retail sales. Yen dropped 0.3% to 99.32 per U.S. dollar as of 11:01 a.m. in London, the third straight decrease of the currency against the U.S. Dollar, and it
European shares declined on Monday after they were traded close to their five-year high as reports from the 17-nation bloc showed weaker manufacturing output and services falling for the 15th month in a row, at the same time retail sales declined. The benchmark Europe Stoxx 600 Index dropped 0.2% to 300.52 earlier on Monday London session.
Manufacturing activity in the euro area decreased at a slower pace in April than the previous month, according to a report unveiled by the Markit Economics on Thursday. The report showed that the Purchasing Managers Index marginally declined from March's level of 46.8 points to 46.7 in April, while economists expected the figure to fall to 46.5.
The European Central Bank lowered its benchmark interest rates to the lowest level all-time on a policy meeting on Thursday as the bloc's economy is not recovering as expected. The Governing Council led by the ECB's President Mario Draghi cut the refinancing rate by 25 basis points to historical low 0.50%, while the marginal lending facility rate was reduced to
Emerging-market stocks increased on Friday pushing the regional benchmark index towards largest weekly advance in more than a month as automakers from China and property sector shares in Philippines rose. The MSCI Emerging Market Index was traded 0.2% higher at 1,038.92 at 2:03 p.m. Hong Kong time, while it has gained 1.6% this week.
European shares were little changed on Friday as traders awaited the U.S. labour market report showing that employers hired more people in April and as companies from retail sector to banks reported their earnings. The benchmark Stoxx Europe 600 Index rose less than 0.1% to 297.97 earlier on Friday London session after it completed the longest winning streak of monthly
Chinese equities gained on Friday recording the biggest advance in a week mainly due to an increase of financial shares, with regional benchmark index rebounding from a 4-month low. The Shanghai Composite Index move up by 1.4% closing at 2,205.50, bouncing back from the lowest since December 24, while the CSI 300 Index gained 1.8% to 2,492.91.
Asian shares jumped on Friday after Australian bank Macquarie showed that its earnings rose and as initial jobless claim in the U.S. fell to a five-year low and the ECB's meeting resulted in another interest rate cut to historical low. The MSCI Asia Pacific excluding Japan Index advanced by 0.1% to 480.88 at 2:32 p.m. Hong Kong time and it
The Euro depreciated versus most of its peers on Friday declining for the first time in a five-day period versus the so-called greenback after the European Central Bank led by Mario Draghi showed that he is open for negative deposit rate. The Euro slipped by 0.9% to $1.3065 as of 5 p.m. New York time after it advanced 1.3% in
The Chinese Yuan decreased for the first time in a six-day period on Friday falling from the highest level in 19 years as the People's Bank of China reduced the fixing by 11 basis points to 6.2152 per U.S. Dollar today, largest cut since April 18. The Yuan fell 0.02% to 6.1574 per U.S. Dollar at 10:09 a.m. Shanghai time
The British currency was little changed against its U.S. counterpart before a report showed that service sector in the United Kingdom accelerated for the fourth straight months in April suggesting that the economy is recovering. The Sterling was at $1.5533 earlier on Friday London session following a climb to $1.5606 recorded on May 1.
Crop increased on Friday and it is set for the largest weekly gain since July 2012 as planting in the world's largest exporter of corn and wheat, U.S., slowed and crop conditions worsen amid bad wet weather in the region. Wheat for delivery in July advanced 0.3% to $7.31 a bushel on the CBOT and it is heading to add
Gold is traded at the most bearish trend in last three years as traders and investors sold the metal held in exchange-traded products in a record amount and the prices fall in a bear market. Gold declined by 12% to $1,474.95 an ounce so far this year in London following the previous 12 years of gains, while the metal is
West Texas Intermediate oil dropped on Friday paring its weekly gain as investors awaited the U.S. government report showing improvement in the country's payrolls suggesting an acceleration of the economy. June WTI futures declined 33 cents to $93.66 a barrel on the NYMEX and were traded at $93.82 as of 2:50 p.m. in Singapore.
The Reserve Bank of India cut its benchmark policy rates by 25 basis points for the third time in 2013 in order to boost the economy and improve the growth. The RBI led by the Governor Duwuri Subbarao lowered the repo rate, which is the rate at which central bank lends to other banks, from 7.50% to 7.25%, while it
U.S. Treasuries yields were traded 0.02 percentage points from the lowest level in 2013 before the U.S. government report was released showing that the unemployment in the country stayed unchanged and payrolls increased. The benchmark 10-year yields were at 1.63% at 7:04 a.m. London time, while the rate slipped to 1.61 this week.
The Australian Dollar is heading to complete the longest streak of weekly drops against the New Zealand Dollar in a twelve-year period amid speculation that the Reserve Bank of Australia will lower borrowing costs next week. The so-called Aussie dropped 0.2% to NZ$1.2042 at 4:05 p.m. Sydney time after it touched $1.2034, the lowest since October 2009.
German government Bunds were little changed on Friday before a report showed that producer prices in the 17-nation bloc decreased in the month of March. German benchmark 10-year yield was at 1.17% as of 7:10 a.m. in London after the rate declined to 1.15% yesterday, the weakest level since July 2012, when it recorded an all-time low at 1.127%.
The U.S. Dollar appreciated against the Euro on Friday recording the largest gain in 2 weeks before the U.S. report was released showing that payrolls in the country improved last month after they rose at the slowest pace in 9 months in March. The U.S. Dollar was traded at $1.3067 per Euro earlier on Friday London session following a 0.9%