Japan's leading economic measure slipped for a fourth straight month in July, the Cabinet Office posted preliminary data on Friday. The leading index declined to 91.8 from 93.2 in June. Economists estimated a decrease to 91.6. Meanwhile, the coincident index fell to 92.8 and lagging index slid to 86.3 in July.
Asian stocks rose after the ECB President unveiled the unlimited bond-buying programme and China stepped up stimulus measures. The MSCI Asia Pacific Index gained 1.9% to 118.08, set for the biggest advance since June 29. The Shanghai Composite Index rose 4.2% and Hong Kong's Hang Seng Index gained 2.4%. Japan's Nikkei 225 Stock Average climbed 2% and South Korea's Kospi
Precious metals surged after the ECB press conference on Thursday. The ECB left the benchmark interest rate unchanged at record low level of 0.75% and agreed on unlimited bond-purchases plan. Moreover, safe-haven appeal of the commodity group escalated after the ECB downgraded Euro area growth forecast for 2012 and 2013. Gold advanced, following the Euro rally against the US Dollar and
The Canadian Dollar advanced to more than 4-month high against the U.S. counterpart on data that might show North American employment growth is accelerating and following the ECB's bond-buying plan announced yesterday. The Loonie gained 0.8% to 98.27 cents per greenback. It fetched 98.09, the highest since April.
Asian currencies headed for a third-weekly gain as the ECB announced its bond-buying programme to tame the Eurozone's debt crisis, boosting rally in global equities. The Korean Won fetched a 3-week high as Fitch Ratings increased the country's credit rating to AA- yesterday. The Chinese Yuan set for a sixth week advance on speculation the nation's government will increase spending
The U.S Dollar and Japanese Yen stayed lower following a yesterday decline versus most of their major peers after the ECB announced its new bond-buying scheme, which weakened demand for safe haven assets and boosted equities. The Dollar remained lower versus higher-yielding peers before the monthly jobs report release. The greenback fetched $1.2636 per Euro. The Yen was at 99.76
German shares surged on Thursday after the ECB press conference. The ECB left the benchmark interest rate at record low level of 0.75% and unveiled details regarding unlimited bond-purchasing program. Sending German stocks higher, the country's factory orders advanced more-than-expected in July, jumping from June's drastic decline. The DAX Index rallied 1.31% to trade at 7,102.40. All sectors included in
UK shares are trading in the positive territory on Thursday after news that the ECB agreed on unlimited bond purchases to gain control over the interest rates in the Eurozone. Capping the upswing of the UK equities, the Bank of England left key interest rate unchanged and announced no changes in the asset-purchasing program. Moreover, the OECD reported that it
Hong Kong equities jumped on Thursday amid hopes that policymakers will embark on stimulus measures. Meanwhile, market participants were cautious ahead of the ECB press conference due later in the day. The Hang Seng Index gained 0.34% to close at 19,209.30. Six out of nine economic sectors included in the index surged. The top-gainers were technology and consumer goods. Tingyi
Japan's stocks were steady, halting five-day plunge on Thursday. An unexpected cut of growth forecast for China's economy by Goldman Sachs Group created heavy pressure on the Japanese stocks. Dragging Japanese equities lower, support from hopes for easing in the Eurozone started to fade. The Nikkei 225 Index edged up by 0.01% to trade at 8,680.57. Four in ten sectors
US blue chips ended Wednesday's session with mild gains on strong US data. US non-farm productivity jumped by 2.2% in Q2 beating forecasts of a 1.8% increase. Mounting hopes that the ECB will announce easing program at the press conference due on Thursday also lifted US blue chips. The Dow Jones Industrial Average Index inched up by 0.09% to close
US equities extended previous loses on Wednesday amid rising risk-aversion among market participants ahead of the key ECB meeting due on Thursday. At the same time, speculation that the Fed and PBOC will ease their monetary policies continued to support US stocks. The S&P 500 Index lost 0.11% to close at 1,403.44. Only four in ten sectors within the index
U.S. first-time jobless claims posted more-than-estimated fall in the week through September 1, the Labor Department said on Thursday. Initial unemployment claims tumbled to 365,000 on week, from 377,000 in the previous week. Economists forecast a decline to 370,000. Separate ADP report posted a wider-than-expected private sector job expansion.
The U.S. Dollar cut losses and Treasuries extended slid on Thursday as ADP reported U.S. firms created 201,000 more jobs in August, exceeding analysts forecasts. The ICE Dollar Index rose to 81.123, trading at 81.085 ahead of ADP data and 81.253 yesterday. 10-year note yields advanced 4 basis points to 1.64%.
The Euro advanced sharply versus its major counterparts after the ECB held its key interest rate unchanged at 0.75%, despite market expectations. On Thursday, the 17-nation currency traded at 99.30 versus the Yen, 1.2652 versus the U.S. Dollar, 0.7948 versus the Sterling and 1.2045 versus the Franc.
Eurozone's policy makers agreed to an unlimited bond- purchase program to regain control of interest rates in the region. The decision was made during today's press conference in Frankfurt after the ECB held its benchmark rate at a record low of 0.75 per cent. The European Central bank will target government bonds with maturities from one to three years, including longer-dated debt that has a
The Institute for Supply Management said in a report that the U.S. non-manufacturing index jumped to 53.7 in August compared to previous month's reading of 52.6. Experts had predicted the headline reading to advance 53.0 in the month. Any reading above 50 indicates nation's non-manufacturing sector is generally expanding.
European stocks pared advance on Thursday, after the ECB held its key interest rate unchanged at 0.75%. The Stoxx Europe 600 Index surged 0.6% at 267.01. The FTSE 100 Index gained 0.5% to 5,688.33. The CAC 40 Index rose 0.9% to 3,436.96. The DAX 30 Index climbed 1.2% to 7,046.14.
U.K. house prices slipped for the second consecutive month in August, Lloyds Banking Group's Halifax reported on Thursday. Property prices dropped 0.4% on month, after a 0.7% slid in July. Economists estimated a 0.2% increase. On quarterly basis, prices fell 0.9%. The government is expected to outline support to 16,500 new buyers by extending the FirstBuy scheme.
London stocks increased on Thursday, boosted by miners banks and oil firms, as investors awaited the ECB policy meeting, while the BoE held its benchmark interest rate stable. The FTSE 100, leading U.K. index, advanced 0.7% to 5,694.92. Most metal prices were up.
The Banks of England announced on Thursday that it will maintain its official bank rate at the record-low level of 0.5% for the 42nd month in a row. The amount of asset purchasing program will also be unchanged from GBP375 billion for the third consecutive month. The data is in compliance with expectations.
On Thursday, the Economy Ministry reported that German industrial orders grew by 0.5% on a seasonally adjusted basis, which is more than an expected 0.2% increase. Domestic bookings increased by 1.0%, while foreign ones grew by 0.1% despite a 0.6% drop in Eurozone orders. The figure for June was revised up from a 1.7% decrease to a more modest 1.6% decline.
On Thursday, futures for oil were rising for the second day in a row on weak U.S. supply data, which hit a five-month low, and optimism about today's ECB's policy meeting. On the NYMEX, October delivery futures for crude were traded at USD96.12 per barrel, which was a 0.8% increase during European morning trading hours.
The European Central Bank left benchmark interest rate unchanged today, as President Mario Draghi prepares to unveil a bond-purchase plan to save the shared currency. During today's meeting in Frankfurt, region's policy makers left the benchmark rate at a record low of 0.75 per cent, meeting analysts' expectations.