Spain's sovereign credit rating was upgraded from ‘negative' to ‘stable' by the rating agency Fitch Ratings stating that the government has made a notable progress in fiscal policy and the bank sector reforms were efficient. Fitch's rating of the nation's long-term debt and senior unsecured bond stayed at ‘BBB', while short-term foreign currency IDR is ‘F2' and country ceiling at
The Reserve Bank of Australia is forecast to keep its benchmark interest rates unchanged at a historic low 2.50% for the third successive time on Tuesday's policy meeting amid positive momentum of the country's economy presented by most reports. The Australian central bank has cut its cash rate by a cumulative 2.25% since November 2011.
U.S. Treasuries increased on Monday with the benchmark 10-year yields snapping a three day series of gains before a speech held by two Federal Reserve voting members as investors expect the central bank tapper off its stimulus program. The U.S. 10-year government yields slipped one basis point to 2.61% by 7:19 a.m. London time after the prices gained 12 basis
The majority of China's shares increased on Monday after a government data revealed that service industries in the area accelerated at a fast pace in seven months in October and as technology companies advanced. The Shanghai Composite Index traded at 2,149.64 with five stocks rising for every three falling as ZTE Corp. and Beijing Zhongke Sanhuan High-Tech Co. gained 3%.
German government bunds continued to increase on Monday before a government report showed that manufacturing sector in France contracted in the month of October signaling a slow-down of the sector for the whole Eurozone. German benchmark 10-year yields were at 1.68% as of 7:20 a.m. in London after the rates dropped to the weakest level since October 31 at 1.65%.
Gold declined on Monday falling for fifth day and was set to complete the largest drop in three months after a government report showed that manufacturing activity in the U.S. advanced to the strongest level in two years signaling no further stimulus by Fed. Bullion for delivery in November slipped 0.3% to $1,312.34 an ounce and was traded at $1,313.07
Copper slipped on Monday leading drops in industrial metals as it fell for a third day after Asian shares shrank amid speculation that the Federal Reserve may scale back its stimulus sooner than forecast. The metal for settlement in February slid 0.7% to $7,197 a metric ton following a 0.3% increase recorded earlier on the session, while it traded at
The Australian Dollar increased on Monday recording its largest climb in a two-week period after a government report revealed that retail sales in the country accelerated at the fastest rate in seven months signaling no further rate cuts by the RBA. The so-called Aussie added 0.5% to 94.88 U.S. cents as of 5:02 p.m. Sydney time, while the Kiwi Dollar
Emerging-market equities declined on Monday pushing the benchmark index towards the weakest level in three weeks as protests against the local government in Thailand dragged down the stock prices and South Korean largest financial company dropped for a fourth day. The MSCI Emerging Markets Index slipped 0.2% to 1,026.01 at 2:07 p.m. Hong Kong time.
South Korean and Thai stocks led falls in Asian gauge measuring performance of local equities amid speculation that the Federal Reserve may start tapering off its stimulus program sooner than expected as the economy is improving. Thailand's SET Index decreased 2.2% falling to a five week low, while the South Korean Kospi Index tumbled 0.5% to the weakest level in
Brent crude traded in London increased on Monday after a government report showed that service sector business activity in the world's second largest economy, China, accelerated to the highest level in 2013. Brent for delivery in December jumped 0.5% to $106.39 a barrel on the London's Futures Europe Exchange, while the crude's premium was at $11.57 to WTI.
West Texas Intermediate crude slipped on Monday and traded close to a four-month low after it declined 3.3% last week recording the largest drop since June on concerns that stockpiles on the world's largest consumer, U.S., are sufficient. WTI for delivery in December fell 0.5% to $106.39 a barrel on London's ICE Futures Europe Exchange.
The 17-nation bloc currency declined on Monday falling to the weakest level in six weeks after it recorded the largest drop in more than a year last week amid speculation that the European Central Bank may cut its benchmark interest rate on this week's policy meeting. The Euro traded 0.1% lower at $1.3478 after it dropped to $1.3442, the least
Asian equities traded lower on Monday as investors awaited result of a policy meeting of the European Central Bank and before a government report showed that payrolls in the U.S. declined last week. The MSCI Asia-Pacific index outside Japan was little changed at 478.58, while Australian gauge slipped 0.4% and South Korean index slid 0.6%.
Asian non-manufacturing index from China to South Korea strengthened on signs of economic recovery. China's PMI advanced to eighteen-month high and reached 55.4 point, comparing to 51.4 in September, surpassing economists' expectations, while GDP is estimated to grow 7.6% this year. Taiwan's PMI increased to 53 and Japan PMI rose to 54.2. High demand was also fueled by Fed monetary
The Pound depreciated 0.7% to $1.5933 as of 3:17 p.m. in London, following 1.4% decline this week versus the greenback, as signs of U.S. economic recovery provoked speculation the Fed will have to taper its monetary stimulus that lowers the currency value. Despite the fact that U.K. economy gradually expanding as well, it has no significant impact on the Pound's
Manufacturing sector in Greece continued to decline in October with a faster pace of contraction than in the month before, the latest report published by the Markit Economics revealed on Friday. According to the report, Greek purchasing managers' index fell from 47.5 in September to 47.3 recorded in October, while reading below 50 signal contraction.
Manufacturing activity in the United Kingdom accelerated in the month of October mainly due to a notable increase in domestic demand and exports suggesting that the country's economy is improving, a report published by the Markit Economics revealed on Friday. The report showed that the purchasing managers' index recorded a level of 56 staying above 50 signalling expansion in the
Swiss factory growth eased by more than economists originally expected in the month of October after the gauge measuring activity of managers in the sector advanced in previous months, the Credit Suisse reported on Friday. According to the report, the purchasing managers' index declined from 55.3 in September to 54.2 recorded in the following month.
European shares swung between gains and losses on Friday as equities were set to record a fourth weekly increase after a government data in the U.S. and China showed an unexpected improvement in manufacturing. The benchmark index Stoxx 600 Europe advanced 0.1% to 322.82 as of 2:10 p.m. London time and it has expanded 0.9% this week.
Asian currencies slipped on Friday ending a four-week long streak of gains amid speculation that the Federal Reserve may taper off its stimulus program sooner than expected on positive economic data in manufacturing. The Asia Dollar Index fell 0.4% on today's trading session following a 1.2% increase recorded in past four weeks.
German shares fluctuated on Friday as the local benchmark index DAX was set to record its fourth successive weekly increase after a government report showed that the manufacturing sector in the U.S. expanded faster than expected. The DAX fell less than 0.1% to 9,030.38 as of 3:52 Frankfurt time following an increase to the highest level all-time yesterday.
The Canadian currency fluctuated at C$ 1.0435 per greenback as of 10:50 a.m. in Toronto, after it touched C$1.0497 two days earlier, the lowest since September, after Thursday's report showed nation's economic output grew 0.3%, which is 0.2% more than expected, while the economists at CIBC expect GDP to grow 2.5% in this quarter. The loonie traded at 95.83 U.S.
Cocoa traded in London slipped on Friday amid speculation that demand for the commodity declined and on signs of ample supplies as harvest in West Africa accelerated. Cocoa with delivery in March declined 0.9% to 1,688 pounds, or $2,701, a ton as of 9:56 a.m. on the NYSE Liffe in London, while December cocoa futures fell 1.2% to $2,645 a