The Pound advanced against the common currency after a retail sales report in the U.K. showed an 0.2% increase in June. June is the second month with growth in retail sales, signaling that the recovery is gaining pace. The currency added 0.1% to 86.17 pence per Euro as of 12:30 p.m. in London. Also yield on 2-year bonds declined 0.04
The U.S. Dollar inched up against the Euro, as the number of first-time unemployed benefit seekers declined moderately by 24,000, ahead of the second day of Ben Bernanke's testimony later today. The greenback advanced 0.30% to $1.3085 versus the common currency, after the jobless claims fell to 334,000, overshooting economists expectations of 360,000.
Canada's wholesale sales jumped from 0.4% gain in April to 2.3%, reaching $50.3 billion in May. It was the biggest advance since 2011. A report showed unexpected results as economists projected wholesale sales in Canada might climb only about 0.3% in May. The main drivers behind the increase was 19.6% growth in sales of agricultural supplies and 4.2% growth in
The U.S. Dollar appreciated ahead of a report that analysts say will provide signs of growth in the U.S. job market, fueling the case for the Federal Reserve Chairman Ben Bernanke to taper bond-buying programme. The greenback rose 0.5% to 100.05 against the Yen and jumped 0.1% to $1.3106 versus the 17-nation currency.
Gold was rising and falling in London after its biggest decline in approximately two weeks, as the Fed's Chairman Bernanke commented on the monetary stimulus. Bullion for immediate delivery rose 0.3% at $1,279.57 an ounce as of 10:15 a.m. London time after advancing 0.5% and dropping 0.1%. The Yellow metal for December delivery added 0.2% to $1,280.90 an ounce on
West Texas Intermediate climbed to the highest level in a week as U.S. crude stockpiles decreased to the lowest level since the beginning of the year. The August WTI contract declined 2 cents to $106.46 per barrel. The September Brent contract plummeted to $108.55 per barrel. Inventories declined by 6.9 million barrels to 367 million, continuing the longest run of
U.K. retail sales advanced moderately in the previous month, boosted by sales increase in department stores, which is the latest signal of economic recovery in the U.K. Retail sales advanced 0.2% on monthly basis and 2.2% on the annual basis. Both measures were moderately over Dow Jones forecast of 0.1% on monthly basis and 1.7% on the annual basis.
The Euro area's current account surplus decreased more-than-expected in May. The current account showed a surplus of 19.6 billion euros in May, after posting a surplus of 23.8 billion euros in April. The current account surplus mainly was driven by a rise in surplus of goods to €148.7 billion, a jump in services to €93.7 billion, and also a gain
Japanese stocks advanced, with the regional benchmark Topix index gaining for a fourth straight day, as the Japanese Yen depreciated and the Fed's Bernanke calmed worries on winding down monetary stimulus. The Topix climbed 0.7% to 1,222.01 at the close Tokyo time, while the Nikkei 225 Stock Average added 1.3% to 14,808.50.
Asian shares excepting Japan declined after the IMF stated that the risks of China's growth are increasing, while Japanese stocks advanced as the nation's currency slipped. The MSCI Asia Pacific excluding Japan Index slid 0.4% to 330.73 at 4:17 p.m. Hong Kong time, while the MSCI Asia Pacific Index fell 0.1% after climbing 0.4%.
German 10-year government bunds advanced for the third day ahead of Spain sells notes, expiring between 2016 and 2023, worth three billion euros . German 10-year bond yield declined two basis points to 1.53% and the 1.5% security maturing in May 2023 rallied 0.135 to 99.75. Spain sold 10-year notes at an average 4.77% yield on June 20.
The Sterling declined for the first time in three days against the U.S. Dollar ahead of data that analysts said will indicate retail sales rose at a slower pace in the previous month. The Sterling weakened 0.3% to $1.5170 versus the Dollar and was at 88.37 against the Euro. Retail sales gained 0.3% in June, after jumping 2.1% in May.
German shares fell for the second time weekly, impacted by a sell-off in SAP, as the company posted its sales data that showed its first retreat in approximately three years. The benchmark DAX Index slipped 0.2% to 8,241.58 as of 10:03 a.m. Frankfurt time; however, the equity-benchmark added 0.7% on Wednesday after the Fed's Chairman Bernanke testimony.
Розничные продажи в Великобритании подросли на 0.2% в июне этого года в месячном выражении, что совпало с ожиданиями аналитиков. В годовом выражении рост составил 2.2% при прогнозе на уровне 1.7%. На потребление приходится около 70% экономики страны, поэтому положительные данные о розничных продажах могут увеличить темпы роста ВВП.
The Australian Dollar retreated for the second day against the U.S. Dollar on the testimony form the Federal Reserve Chairman Ben Bernanke. The Australian currency slipped even more as Australian business sentiment dropped back in June quarter. The Aussie fell 0.93% to $0.9153 against the greenback and depreciated 0.79% to $1.4316 against the Euro.
The Fed's Chairman Bernanke stated that the beginning of monetary stimulus tapering will be highly influenced by economic data. He said that the FOMC will respond to the data, meaning that if the economy will struggle they could remain the stimulus measures accommodative. The Treasury 10-year yield dropped 0.04% to 2.49% at 5 p.m. New York time.
The Canadian currency dropped as Stephen Poloz, the new Governor of the Bank of Canada, stated that country's economy is still struggling. The Loonie fell versus almost all of its most-traded peers as the benchmark interest rate remained unchanged. The Canadian Dollar slid 0.4% to $C1.0405 per U.S. Dollar as of 5 p.m. Toronto time.
The Japanese currency slipped for a second straight day versus the U.S. Dollar on speculation that G-20 officials could endorse tapering the BoJ's monetary stimulus at the meeting this week and that would impact the nation's inflation. The Yen depreciated 0.6% to 100.18 per Dollar at 7:55 a.m. in London after falling 0.5% on Wednesday, while it appreciated 0.4% to
The U.S. Dollar climbed versus the Euro, as the Federal Reserve Chairman Bernanke has given hint on the Fed's plans tapering asset purchases. The greenback advanced 0.53% to $1.3092 versus the common currency at 2:47 p.m. GMT. Versus the Japanese Yen, the currency gained 0.68% to 99.76. Against the Kiwi, the Dollar rose 0.11% to 0.7882.
The Canada's currency decreased as Bank of Canada Governor Stephen Poloz revealed the economy is still significantly behind its potential and inflation remains low, limiting the possibility of interest rate increase. The Loonie declined 0.3% to C$1.0403 per Greenback as of 10:11 a.m. Toronto Time. The Bank of Canada increased this year's growth forecast from 1.5% in April to 1.8%.
The U.K. Pound advanced versus the greenback and the 17-nation currency after the Bank of England released its minutes of most recent meeting. The minutes showed that officials voted against expansion of monetary stimulus progamme. The currency gained 0.6% to $1.5248 as of 2:29 p.m. in London after decreasing to $1.5079 previously.
U.S. equities increased after Fed Chairman Bernanke commented that bond purchasing has not been on a preset plan. The S&P gauge advanced 0.2% to 1,680.36 as of 9:30 a.m. New York time. Ben S. Bernanke revealed that the Federal Reserve is willing to keep flexibility in its monetary policy and will respond to economic data.
Housing starts in the U.S. unexpectedly decreased in June to the lowest since August 2012. Number of construction starts dropped 9.9%, a larger decline than any expert expected. The decline in activity in June came even as home builders sentiment index increased from 51 to 57 in July, a seven-year high. The rate for a 30-year mortgage advanced 4.51%.
Ben Bernanke, the Chairman of the Federal reserve, revealed today the Fed still has intention to begin reducing its QE programme later this year, yet he left open the possibility of alternating the plan if economic projections changed. The Chairman said economic recovery is improving steadily due to stronger housing sector, and he pointed out that risks associated with the