The Canadian Dollar weakened for the first time in six days versus the U.S. Dollar as commodities declined and crude oil fluctuated after reaching $93 a barrel last week. The Loonie lost 0.2% to 99.26 cents per U.S. Dollar after touching 99.05 cents. Government bonds declined, pushing 10-year note yields to 1.80%.
The Japanese Yen edged lower against all 16 most-traded counterparts on rally of Asian shares and minutes of BOJ's July meeting, which indicated that officials are considering expanding stimulus. The Yen extended its second day decline against the common currency as equities gains curtailed demand for safe haven assets. The Yen dropped 0.1% to 78.42 per U.S. Dollar, while fell
U.K.'s property prices posted a biggest fall in a year through July, and analysts don't expect the outlook to improve during the next 12 month, the Royal Institution of Chartered Surveyors said on Tuesday. RICS reported housing price balance dropped to -24 in July from -22 in preceding month, the figure shows the difference between surveyors reporting a price fall
On Monday, August 13, Michael Fuchs, which is the senior member of Angela Merkel's party sent a strict warning to Greece, saying that Greece will not get financial help, in case they do not meet the conditions of nation's bailout. Meanwhile, the "troika" is to decide in September, whether to give Greece another tranche, from the financial bailout package, of total value of 130 billion
European stocks turned lower on Monday, as decelerated Japan's economy outweighed increased demand for Italian bonds. The Stoxx 600 Index tumbled 0.4 percent to 268.72, after ten weeks of gains. At the same time, the U.K.'s FTSE 100 was down by 0.3 per cent, German's DAX Index retreated 0.5 per cent, while France's CAC 40 Index and Italy's FTSE MIB Index erased 0.3 per cent
The U.S. stocks were under pressure on Monday, August 13, after five-week rally, as Japan's fundamentals worsened, with GDP adding only 0.3 per cent in the second quarter. The Dow Jones Industrial Average erased 0.5%, to 13,147; the Standard & Poor 500 Index dropped 0.4% to 1,399.63, and the Nasdaq Composite tumbled 0.5%, to 3,007.6.
German shares moved higher on Monday amid hopes that the ECB will loosen its monetary policy in view of weakening global economy. An unexpected increase in German wholesale price index provided support for Germany's stocks. German DAX Index rose by 0.34% to trade at 6,968.44 at 12:00 GMT. Seven out of nine sectors within the index advanced. The top-performers were
FTSE gained 0.01% on Monday to trade at 5,847.89 despite signs of deepening global recession. On Monday, Japan reported slower than expected GDP growth pace in Q2. At the same time, speculation that the ECB is ready to take measures to ease economic slowdown in the Eurozone spurred UK stocks. The largest gainers among industries were financial and consumer services
Hong Kong shares posted the largest drop in a month on Monday. China's growth concerns coupled with weak quarterly results pushed equities lower. On Monday, Bank of America reduced China's 2012 growth forecast to 7.7% from 8%. Moreover, hopes for easing measures started to vanish as real estate prices moved up. Hang Seng Index ended the trading session 0.27% lower
Rural commodities tumbled after USDA global supplies report. Better weather conditions in Brazil and US also sent farm commodities lower. From the demand side, high grain prices threaten to cap consumption. Wheat was the top-loser as USDA upgraded US domestic production forecast, citing brighter production prospects in northern states. At the same time, global output is set to fall 4.7% as
Japanese stocks moved lower as the nation's economy grew less than expected in Q2 amid weak consumer spending. Meanwhile, traders continued to anticipate key economic data releases from the US due this week. Nikkei 225 Index lost 0.07% to close at 8,885.15. Sectors included in the index were mixed; six sectors followed downward trend while four industries managed to climb.
Energy commodities followed bearish trend on Friday amid dismal China's trade data as well as bleak economic outlook on the single currency union. At the same time, supply uncertainties from the Middle East supported the commodity group. Crude oil slumped on weak demand from China. Beijing's General Administration of Customs stated that net crude oil imports attained seven-month low in July. Brent
US equities closed slightly higher on Friday amid mixed quarterly reports and disappointing news from the Eurozone and China. Building expectations that the Fed will loosen its monetary policy also boosted US stocks. The S&P 500 traded 0.22% higher at 1,405.87. Eight out of nine industries advanced. The top-gainers were telecommunications and health care sectors. CenturyLink and Sprint Nextel rose
Base metals tumbled on Friday on global growth fears. Disappointing China's trade data as well as deteriorating situation in the Eurozone weighted down on potential demand for industrial metals. Aluminum dropped on demand uncertainty from China. Meanwhile, medium-term supply concerns from Indonesia limited the downswing. Copper sank on elevating inventory levels. Inventories rose by 4% at Shanghai and by 2% at
Dow Jones Industrial Average balanced between gains and losses on Friday but managed to close with moderate increase of 0.33%. Negative news from the Eurozone and China weighted on the US stock market. However, speculation that global and domestic economic weakness will force the Fed to provide additional monetary stimulus sent US blue chips higher. Seven out of nine sectors
Precious metals except for gold retreated on Friday despite speculation that the ECB and POBC are preparing to ease their monetary policies after weak economic data. China's exports slowed last month while Eurozone's growth outlook for 2013 was cut by the ECB. Gold was the only gainer on global monetary stimulus hopes. However, stronger US Dollar and weak physical demand prospects
The Australian Dollar declined versus almost all of its major peers as global economic downturn curtailed demand for high interest currencies. The Aussie Dollar fell 0.2% to $1.0556 and dropped to 82.63 Yen. The New Zealand Dollar lost 0.2% to 81.17 U.S. cents and 0.2% to 63.53 Yen.
Norway's retail sales declined in June, after climbing most of the months in 2012, reported by Statistics Norway on Monday. Retail sales turnover, excluding automobiles, fell a seasonally adjusted 1.4% on month in June. The drop was lead by 1.8% decline in grocery sales and 4.5% fall in petrol stations' sales.
Greece's economy shrank for the ninth consecutive time in the second quarter and tumbled deep in the recession, Hellenic Statistical Authority said on Monday. GDP dropped 6.2% on year, compared to a 6.5% fall in preceding quarter and economists' estimate of 7%. GDP, calculated in current prices, declined at increased pace of 6.6% year-on-year in the second quarter after
Netherlands' retail price growth pace weakened in June, reported by the Central Bureau of Statistics on Monday. Retail trade turnover rose 1% on year in June, compared to 1.6% gain in preceding month. Food sales increased 4% year-on-year, while non-food sales posted a modest slid. Dutch retail trade posted a 2% drop on year in the second quarter of 2012.
Finland's wage growth pace increased notably in June, after a slower growth in preceding month, Statistics Finland reported on Monday. Salaries and wages in the overall economy rose 6.5% on year in June, compared to a 3.6% gain in May. In the first six month of the year overall wages advanced 5.2% from the first half of 2011.
France's current account deficit expanded in June after dropping marginally in preceding month, Bank of France reported on Moday. The deficit was EUR 6.3 billion in June up from EUR 4 billion in May. Goods account showed a EUR 6.3 billion deficit, while service account posted a EUR 1.5 billion surplus. Income account stayed steady from preceding month at EUR
U.S. homebuilder shares rose at a record-high rate in 2012, showing confidence the property rebound may expand with new-home sales still 50% below a 40-year average. The S&P Supercomposite Homebuilder Index surged 53% in 2012 through Aug. 10. Stocks climbed as new-home sales showed a seasonally-adjusted annual rate of 350,000 in June, from 304,000 a year earlier.
The Canadian Dollar rallied on speculation global growth will uphold demand for commodities such as oil, Canada's biggest export. The Loonie appreciated for more than a month against the U.S. counterpart, the longest strengthening period since October 2010. The Canadian Dollar gained 1% this week appreciating to 99.11 cents per greenback.