Japan's consumer sentiment rose in December, reflecting the first improvement in the last three quarters. The consumer sentiment diffusion index added 4.9 points to minus 57.5 last month from minus 62.4 in the preceding quarter. The indicator subtracts the number of people who believe the economic situation deteriorated over the last year from the number of individuals who say the
Barack Obama formally notified the Congress that US government needs to borrow another $1.2 trillion to meet existing commitments. Congress should vote during the next 15 days on the approval of the proposal that may raise debt ceiling to about $16.4 trillion. The government was near default in 2011 exceeding its debt ceiling. The proposal is expected to increase battles
Gold futures eased down during the electronic session following the declines in other metals' prices. COMEX gold futures for delivery in February traded at $1,642.40 an ounce on the New York Mercantile Exchange, during the Asian trading hours, losing 0.3% since opening.
Apple decided not to open the store on Friday because of safety concerns as more than a thousand people were standing in line and waiting for the store to open, said one of the customers. Many people were displeased with the decision and started to throw eggs in the shop's glass walls. Other Apple stores opened timely and sold their
Slovenia was trying to reassure the international lenders that the country is able not to follow Hungarian footsteps, even after the country's leader failed to shape the government. Slovenia's debt rating was cut from Aa3 to A1 by Moody's in December. Experts claim the overreliance on exports to the EU and political turmoil will lead to further credit downgrade and soaring borrowing costs. Currently, the
The CPI fell to 4.1% last month, hitting the 15-month last month. Experts believe the drop may force the government to ease its prudent monetary policy. However, fast policy easing might spark financial risk due to exorbitant money supply. Growing labour costs were the major drivers for decline in the CPI implying that monetary policies do not have to be
The US federal budget balance increased less than expected, according to official data released on Thursday. The US federal budget balance edged up to minus USD 86 billion from minus USD 137.3 billion in the previous month, reported Department of the Treasury. Experts predicted the balance to rise to minus USD 79 billion in December.
European equity markets closed lower on Thursday after Tesco Plc posted weaker than expected holiday sales and US also reported drop in retail sales in December. Upside support was provided from banking shares as Spain and Italy had successful bond auction. Stoxx Europe and FTSE 100 each lost 0.2%, German DAX managed to end in positive territory and closed 0.44% up.
Canadian Dollar fell against its major peers on Thursday trade after US, the biggest Canada's trading partner said the retail sales added only 0.1% in December compared to expected increase of 0.3%. Loonie traded at C$ 1.0191 in Toronto evening session. Currently USD/CAD is trading at C$ 1.0173.
The New Zealand and Australian Dollars depreciated against their major peers on Friday as weaker than expected US retail and employment data hampered demand for less safe assets. Kiwi weakened against greenback 0.3% to $0.7915 while its Australian peer lost 0.1% reaching $1.0321. Currently AUD/USD is trading at $1.0345 while NZD/USD is trading at 0.7927.
UK home prices climbed in December, reaching 8-month high, as the buyers hurried to complete their deals before the end of 2011 amid surging demand from investors, said Acadametrics Ltd. in its report The average value of home in Wales and England added 0.2% to $338 000 compared to November.
ECB President Mario Draghi announced his plan for curtailing European debt turmoil starts to work as large amount capital injection in region's financial system in December begin to oil credit markets amid falling Spanish and Italian borrowing costs. The Euro slightly appreciated after Draghi's announcement.
The Bank of Korea decided to keep its benchmark borrowing interest rate untouched for the seventh consecutive month stressing increasing exposure to European debt turmoil. Although weakening South Korean Won threatens to boost inflation, central bank kept its key interest rate at 3.25%. The decision match economists' expectations.
Chinese foreign exchange reserves fell in the fourth quarter for the first time since 1998, said People's Bank of China in its statement. The world's largest foreign exchange holdings dropped from $3.2 trillion on September to $3.18 trillion by the end of December last year. The decline may spur China's reluctance to appreciation of Yuan.
US trade deficit may have expanded in November mainly due to surge in crude oil imports, predict economists before official announcement due today. The trade gap is expected to widen from $43.5 bn in October to $45 bn in November, told economists surveyed by Bloomberg. The value of oil import dropped to 8-month record low in October and may have
US share markets traded higher on Thursday as investors expressed cautious optimism towards Europe's ability to tame its debt crisis. Dow Jones Industrial Average Index added 0.2% or 21.57 points and closed at 12,471.02 while Nasdaq Composite gained 0.5% or 13.94 points and finished at 2,724.70. S&P 500 was up 0.2% or 3.02 points at 1,295.50.
China's November's gold purchases from Hong Kong soared to record high on the strengthening demand ahead of the Chinese New Year and on investor's desire to hedge risks amid weak equity markets. China bought 102,779 kilograms in November as compared to 86,299 kilograms in the preceding month. Moreover, China has to raise its gold reserves to promote internationalization of the
US retail sales advanced less than initially projected in December, growing at the slowest pace in the last seven months. The sales increased by 0.1% seasonally adjusted in December as compared to 0.3% expected, reported the U.S. Census Bureau. Core retail sales fell by 0.2% in December after jumping by 7% in November.
Growth of the Chinese producer prices decelerated in December to the slowest increase pace in the last two years. China's PPI, gauge of inflation in the wholesale sector, increased by 1.7% on a yearly basis, reported the NBS. The total PPI for 2011 edged up 6%. Experts predict short-term stimulus for prices ahead of the Chinese holidays while the long-term
Crude oil advanced on the increasing worries over the Nigerian and Sudan oil supply disruption and weaker US Dollar. Light, sweet crude oil February contract traded at USD102.59 a barrel at the US morning session, on the New York Mercantile Exchange, jumping 1.7%.
The number of people applying for unemployment benefits in the US increased last week, reaching the six-week high. The number of jobless claims added 24,000 to seasonally adjusted 399,000 while experts predicted the figure to stay unchanged at 375,000 over last week. However, the number remained below 400,000 indicating the recovery of the US labour market.
China's natural gas production is likely to rise by 11% this year, attaining 113 billion cubic meters, reported the China Petroleum and Chemical Industry Federation. Country also is likely to increase the output of diesel and gasoline by 5% to 280 million tons. China's apparent crude oil consumption is expected to achieve 480 million tons in 2012, expanding 5.3% from
China's CPI increased to 4.1% in December on a yearly basis, reflecting 0.1% fall from November's reading, reported the National Bureau of Statistics. Total CPI for 2011 achieved 5.4% as compared to government's target of 4%. The inflation rate saw essential decrease last month from hitting a record high 6.5% in July mainly due to prudent government's policies, the NBS
Industrial output in the Euro Zone decreased for the third month in line. The region's industrial output fell by 0.1% seasonally adjusted in November as compared to 0.2% expected decrease. On a yearly basis, the production dropped by 0.3% in November confronting the forecasts of 0.2% decrease.