The Office for National Statistics reported on Tuesday that annual inflation in the United Kingdom gained more than expected in October. The British inflation reached a level of 2.7% compared to a reading of 2.2% in the preceding month. Economists, however, expected a 2.4% increases last month. The bureau commented that tuition fees were the most significant contributor to the
The Yuan was 0.05% higher to 6.2262 per Dollar in early Asia trading hours and that was a seventh consecutive trading session as China's currency gained. Also, today's peak is the strongest level since the government settled official currency exchange rates at 1993. China's Yuan firmly steps higher, as investors have expectations that the world's second largest economy will maintain its growth momentum.
The Euro, 17-nations' currency, slipped by 0.3% to $1.2675 during Asia trading hours on Tuesday and that was very close to September 7th low at $1.2673. Currency markets were concerned on Greece bailout, as the European Union finance ministers struggled to reach an agreement on Greek aid program. Luxemburg's Prime Minister announced that they will meet on November 20th to
The British pound fell against the vast majority of its counterparts prior to BOE's report on economic growth and inflation, as the report is expected to ensure more space for further asset purchases to prompt the growth. Sterling depreciated 0.2% against the Euro to 80.13 pence, and tumbled 0.1% to $1.5879 rebounding from its September's lowest level of $1.5866. The currency traded down the most
German stocks jumped on Monday after Greece managed to approve spending cuts and tax increases on Sunday. However, cautiousness persisted as euro-area finance ministers will have to agree on the new loans to Greece later in the day. The DAX Index gained 0.31% and is currently trading at 7,185.48. Seven in nine sectors within the index moved higher. Utilities and
Futures on U.S. stocks gained, rebounding the S&P's index from its lowest level in this year's June on a rally in takeover activity. Prior to that, the U.S. equities tumbled the most in five months after President's re-election. Contracts on The S&P 500 maturing December added 0.3% to 1,380.4. Meanwhile, futures on Dow Jones Industrial Average due the same month climbed 0.2%, or 26 basis
UK shares advanced on Monday amid optimism over Greece as the country passed budget cuts last week. However, an upward trend remained capped ahead of euro-area finance ministers' meeting later in the day. The finance ministers have to agree on EUR31.5 billion in loans to indebted Greece. Moreover, persistent worries over the US budget clashes weighted down on the UK
On Monday, the 17-nation currency was traded lower versus the greenback, on upcoming meeting of Eurozone finance ministers to discuss further aid for Greece. EUR/USD hit a session high of 1.2739 and later consolidated at 1.2713, which was a 0.04% gain for the European morning trading session. The support was likely to be at 1.2689, while resistance was prone to
On Monday, the Euro advanced versus the British Pound, following an approve of Greek austerity program, but gains seemed to be capped by an upcoming Eurozone finance ministers meeting. EUR/GBP hit a session high if 0.8012, and later consolidated at 0.8010, which was a 0.19% growth for the European morning trade.
Japanese machinery orders tumbled more than forecast in September, one more indicator signaling that the Japan's economy is falling into recession on disagreements with China and declining domestic demand. Current account surplus, one of the main indicators tracking the nation's well-being, also slipped paring with a slump in exports. According to government data on Thursday, core machinery orders also plummeted 4.3% in September, while analysts had
On Monday, the Cable was traded lower versus the U.S. counterpart, hitting a 2-month low, on growing uncertainty over Greek bailout. GBP/USD hit a session low of 1.5866 and later consolidated at 1.5874, which was a 0.14% decline for the trading session. The pair's support was likely to be found at 1.5826, whereas resistance could be at 1.5943.
On Monday, copper fluctuated in a tight range during European morning trading hours, as uncertainty over Greece's bailout was undermining the demand for the metal, while optimistic Chinese data was supporting it. On the Comex, December delivery futures inched up 0.15%, being traded at $3.450 per pound. Earlier, it hit a session low of $3.430 and a session high if
On Monday, British government notes were traded higher, as an upcoming report on inflation is widely expected to show an increase in U.K. prices, which may trigger further round of loose monetary policy. The yield on benchmark 10-year bonds declined 2 basis points, and reached a level of 1.72% by 10:38 a.m. in London.
Spanish bonds were lower on Monday, amid an upcoming meet of finance ministers to discuss Greek debt crisis. The yield on benchmark 10-year government notes inched up by 5 basis points, reaching a level of 5.875% by 11 a.m. in London. Earlier, the yield on the bonds hit 5.88%, which was the highest level since October 11.
Hong Kong shares moved higher on Monday despite weak economic data release and fading hopes for easing measures in the country. China's new yuan loans issued in October declined by 14% on an annual basis, indicating that downside risks still persist. The Hang Seng Index added 0.21% to close at 21,430.30. Six out of nine sectors gained. The top-performers were
Japanese equities started the week in a red territory on weak data from the national economy. Japan's GDP contracted by 0.9% in Q3, indicating the first decline in three quarters. Moreover, trade between Japan and China dropped by annualized 2.1% in the first 11 months of the year. Solid Yen as well as worries over the US fiscal cliff also
Dow climbed on Friday amid positive signals from domestic economy. US preliminary consumer confidence jumped more than expected this month. Mounting hopes for continuation of stimulus measures also pushed the US blue chips index higher. However, the upswing remained capped by concerns over the US fiscal cliff and Greek budget vote. Meanwhile, investors were also cautious ahead of the Chinese
US stocks rebounded on Friday amid upbeat US data. US preliminary consumer sentiment surpassed forecasts this month, attaining five-year high. At the same time, fading hopes that a leadership change in China will result in more stimulus measures weighted down on US equities. Moreover, worries over looming US fiscal battles and Greek budget vote weighted down on the US shares.
The Ministry of Statistics & Program Implementation reported on Monday that Indian consumer price inflation advanced last month. India's CPI was equal to 9.75% in October, having the year 2010 as a base. A preceding month's reading was slightly lower at the level of 9.73%. Inflation in rural area was higher than in urban, with the levels of 9.98% and
The Federal Statistical Office reported on Monday that wholesale price inflation increased its pace to the fastest in 11 months in October. The wholesale price index grew to an annualized 4.6% last month compared to a figure of 4.2% in the preceding month. Analysts, however, expected that prices would gain even more and the index would reach 4.9%.
Gold futures edged higher on Monday, November 12, reaching three-week high, amid growing uncertainty over Greek's bailout plan and U.S. fiscal woes. Gold for December settlement added 0.19% to $1,734.20 an ounce, after jumping 3.3% during the previous week. Other precious metals were mixed, as December silver rose 0.05% and January platinum soared 0.53%. On the contrary, copper and palladium with December contract eased up 0.02%
The world's leading credit rating agency Moody's said on Monday, that Australia's triple A credit rating is able to survive a contraction of country's mining industries and lower commodity prices, which will definitely hurt Australia's government budget. Iron and coal make around thirty per cent of Australia's exports, which is tightly related with China, which is also experiencing uncertainty about
Dutch trade surplus was €0.4 billion lower from the last year to €3.6 billion in September, the Netherlands Bureau of Statistics announced on Monday. Export of goods slipped by 1% to €35.1 billion in one month on the annual basis, but the shipment volume increased by 2% comparing with a previous year. Imports rose by 1% to €31.5 billion with
Crude oil futures for December settlement were 14 cents lower to $85.93 a barrel during Asia trading hours on Monday. The price consolidates after the last two days gains, as the recent data showed that China's export growth and oil purchases reached the highest level in the last five months. However, markets are also concerned about the Japan's economy, as