U.S. retail sales increased in October, compared to September, easing concerns the largest economy in the world may slide into recession. Total retail sales advanced 0.5 percent, after increasing 1.1 percent in September, said the Census Bureau on Tuesday. Economists expected the reading to advance 0.3 percent.
The Euro Zone economy grew 0.2 percent in the third quarter compared to the previous three months fuelling concerns the bloc may slide into recession in forthcoming months, according to the figures released by the Eurostat agency on Tuesday.
Spanish 10-year national bond yield peaked back breaking 6% first time in 3 months, reaching 6.07%. Premium required by investors to provide financing for Spain exceeds price demanded from Germany by 4.25 percentage points. According to Nick Stamenkovic, RIA Capital in Edinburgh, economist, it seems investors are changing their direction towards Spain.
Japanese economy grew 1.5 percent in the third quarter 2011, compared to the previous 3 months, but outlook remains clouded with strong yen and faltering global economic growth, said the Cabinet Office on Monday.
An index measuring hiring intentions amid U.K. employers worsened to minus 3 in the fourth quarter from minus 1 in the previous three months, said Chartered Institute of Personnel and Development.
President Barack Obama arranged a forum of 21 Asian-Pacific nations in Hawaii this weekend with the long term goal to expand U.S. influence in the region.
German Chancellor Angela Merkel said on Monday that European Union possibly faces its worst crisis since World War Two and hinted that Europe must move step-by-step towards political union, offering no new ideas on how to resolve the crisis.
Chancellor Angela Merkel claimed it is essential to comprise political coalition in Europe to ensure bondholders that euro-region officials are sober about tackling debt turmoil. Merkel emphasized that all 17 euro zone countries should stick to common currency, though serious changes in current policy should be implemented. Chancellor also suggested EU and euro region should grow simultaneously in order to
Italy's Senate passed austerity measures to reduce budged deficit on Friday in an effort to restore investor confidence and clear the way for a new interim government that may be headed by Mario Monti, a former European Union Competition Commissioner.
U.S. consumer confidence advanced to highest level in five months as consumers became more optimistic on the outlook of the coun-try's economy, said the Thomson Reuters/University of Michigan on Friday. An index of sentiment rose to 64.2 points in November from 60.9 points in October.
U.K. producer prices declined to the lowest level in five months in October, the Office for National Statistics announced on Friday. Producer inflation eased on lower row material costs and faltering global demand.
Swiss stocks gained, after Italy approved austerity measures on Friday. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, advanced 1.50%, or 83.25 points, to 5,649.03. The broader Swiss Performance Index rose 1.53%, or 77.67 points, to 5,146.15.
Japanese stocks closed mixed on Friday amid uncertainty over the economic situation in Europe and weaker than expected earnings from local corporations. The Nikkei 225 advanced 0.16%, or 13.67 points, to 8,514.47, while the broader Topix erased 0.16%, or 1.17 points, to 729.13.
Today Italian government will vote on austerity measures to regain investors' confidence and prepare for the new government supposed to be headed by Mario Monti, a former EU Competition Commissioner. According to Gianfanco Fini, speaker of the parliament, Berlusconi is expected to resign immediately after the vote. Fini points out that unity government can be formed only if Berlusconi supports
Japanese core machinery orders declined more than expected in September, said the Cabinet Office on Thursday. Month on month orders fell 8.2 per cent from August on strong yen and on faltering global economic growth.
The Swiss National Bank remains under pressure from politicians and business owners to further weaken the country's national currency amid strong demand for a haven.
The Bank of England's Monetary Policy Committee kept key interest rate at record low of 0.5% and maintained its target for asset purchases of 275 billion sterling on Thursday.
The number of Americans claiming for unemployment benefits declined to 390 thousand last week from 400 thousand the week before, said the Department of Labor on Thursday. Economists expected the reading to advance to 401 thousand.
Lucas Papademos, the former vice president of the European Central Bank was named Thursday as the next Greek prime minister of a new interim government until early elections.
Japanese stocks rose on Wednesday, after Italian Prime Minister Silvio Berlusconi vowed to step down. The Nikkei 225 advanced 1.15%, or 99.93 points, to 8,755.44, while the broader Topix extended 1.54%, or 11.37 points, to 749.40.
Swiss stocks closed lower on Wednesday as yields on Italian government bonds rose to a record, fuelling worries Europe's debt crisis is spreading. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 1.32%, or 74.80 points, to 5,607.85. The broader Swiss Performance Index erased 1.35%, or 69.88 points, to 5,105.57.
U.K. trade balance widened to -ВЈ9.8 billion in September from -ВЈ8.6 billion in August, as imports surged while exports barely grew, said the Office for National Statistics on Wednesday. Economists expected trade balance to narrow to -ВЈ8.0 billion.
U.S. month on month wholesale inventories declined 0.1 percent in September for the first time since December 2009, said the Census Bureau on Wednesday. Economists expected the reading to advance 0.5 percent, after 0.1 percent increase in August.
Italian Prime Minister Silvio Berlusconi vowed to resign after Parliament agrees to pass austerity measures, as yields on government bonds rose to record highs, fueling worries the country may lose access to financial markets.