European shares continue to decrease since the European Central Bank announced intentions for purchasing around 500 billion euros from investment-grade assets. The Stoxx 600 index diminished 0.2% to traded at 341.67 level. ECB staff announced to policy makers different quantitative-easing programs, comprising purchasing only AAA-rated debt or BBB-rated bonds.
On Friday, Oil prices slides for seventh week's decline, since major producers is not going to curb the output despite the excess of global supply. Therefore, Brent and US Crude futures reached their deeps since 2009 and declined more than 50% from June. Meanwhile, Brent crude advanced 9 cents to $51.05 per barrel while US crude added 29 cents traded
Asian stocks advanced as US jobs report which is planned on Friday is forecasted to indicate that non-farm payrolls soared by 240,000 in December. Therefore, Australian stocks increased by 1.6%, while the Shanghai Composite Index added 2% . Japan's Nikkei gained only 0.1 %. Meanwhile, the Euro was traded at $1.1806, reaching nine-year lows versus the Dollar.
Industrial production in Germany unexpectedly dropped for the first in three months during November since decline in energy output signalized the recovery in Europe's biggest economy stays vulnerable. Output fell a seasonally adjusted 0.1% from October and today data showed energy output plunged 2.4% in November, while construction declined 0.6%.
The Dollar weakened for the first during three days versus the Yen, since the Fed announced the raising US interest rates in 2015 might disturb inflation recovery. The greenback fell 0.2% to 119.42 against the Yen in London, after reaching 121.85 on December 8, the highest since July 2007. However, the Dollar almost unchanged at $1.1798 versus the Euro.
Gold extended its three-week rally, halting two days drop, before monthly US employment data release that will show the borrowing costs outlook in the world's biggest economy. Gold for immediate delivery added 0.5% to $1,214.35 an ounce, while bullion for February settlement advanced 0.3% to 1,212.30 an ounce.
Oil continued its gain on speculation of slowing US shale boom that could reduce global glut, which has driven prices to the weakest in more than five years. Oil futures added 1.7% in New York, cooling a seventh weekly drop, and WTI crude for February settlement rose 82% to $49.61 a barrel and traded at $49.05 in Singapore.
Fewer Americans applied for unemployment benefits, since the labour market forces employers to hold seasonal workers due to the economic expansion and an increase in consumer spending. As a result, jobless claims slipped to 294,000 during the week ended on 3rd of January. The necessity to keep employees may compel companies to raise wages. The previous week's figure was 298,000
OPEC countries are not planning an oil output cut in order to underpin the prices. Benchmark Brent fell to $49.66, the lowest level since April 2009, and then retreating back to $51 on 8th of January. Meanwhile, OPEC predicted a growing production surplus, taking into account increasing production levels and slowing growth in global demand.
US and European share prices increased on Wednesday assuming that the European Central Bank would inject more stimulus to prevent deflation in the Euro zone. The FTSE 300 index surged 1%, while the DJI and S&P 500 jumped 1.22% and 1.16%, respectively. Meanwhile, oil prices did not show any signs for a possible rebound from their lowest levels since 2009.
Gold futures declined on Thursday, as US data on monetary policy and economy strength had taken too long to wait for. Gold prices for February dropped 0.22% to $1208 per troy ounce, compared to yesterday's loss of $8.70 to $1210.70. During 2014 gold slid approximately 2% due to speculation that the Fed will start raising rates sooner rather than later. However,
On Thursday prices for copper rose, as sentiment recovered due to increased stimulus by the ECB and US economy being unaffected by the global growth slowdown. The expectation of the ECB to implement QE earlier than anticipated played its part at the sentiment recovery. Copper futures for March added 1.2 cents and traded at $2.771 per pound, compared to $2.758
Euro Zone CPI declined more than estimated due to sliding oil prices, which may in turn stimulate the European Central Bank to start the government bond buying programme. The Euro zone's price level deflated 0.2% in December, compared to a 0.3% increase a month earlier. The price growth entered the negative territory for the first time since October 2009.
Japanese manufacturing activity strengthened in December, showing that domestic demand is strengthening after the economy slipped into a recession last year due to April's sales tax hike. The Markit Manufacturing PMI stood 52.0 in December, namely at the same level as in November.
On Wednesday the Sterling slid to a new low for the past 17 months versus the US Dollar, as concerns over Greece exiting the Eurozone persisted along with poor UK data. GBP/USD hit 1.5115, the lowest since 2013, amid Yesterday's weak PMI data. UK PMI was lower than expected, dropped from 58.6 to 55.8, and met expectations that the Bank
The Yen lost its position and fell from the highest level in three weeks versus the Dollar, since US stock futures gave a signs of a gain after five days loss, cooling safer assets demand. Japan's currency lost 0.6% to 119.04 against the Dollar after reaching to 118.06, the highest since December 17. Moreover, the Yen fell 0.4% to 141.26
On Wednesday gold futures slumped, but held close to the three-week high, as investors were impatient about the Fed's data release. Gold futures slid 0.37%, or $4.50, to $1214.90 per troy ounce, compared to Yesterday's three-week peak of $1223.30. During 2014 gold lost approximately 2% amid anticipated strong economic recovery, that would force the Fed to rise interest rates sooner
Unemployment in Germany fell to its lowest level in December, indicating the Europe's largest economy recovery outlook is improving. The number of unemployed dropped seasonally adjusted 27,000 to 2.841 million previous month, the Federal Labor Agency reported today. There are now 10,000 and 17,000 less unemployed in eastern and western parts, respectively.
The Euro slid to the weakest level in nine years as concerns about global economy and collapsing Brent crude oil prices, which fell below $50 a barrel for the first time since May 2009, drove investors to turn to safe-haven assets. The Euro dropped to $1.1842 amid speculation the European Central Bank will deploy quantitative easing soon.
Oil experienced a record drop since May 2009 of below $50 per barrel due to speculation that US inventories will rise, increasing global oversupply. Brent futures slid 2.3% for five consecutive days of losses, while crude stockpiles in the US largely expanded, whereas oil's second-largest consumer, China, is expecting slower imports. During last year oil slumped by the largest amount
On Wednesday the Euro declined to a nine-year low versus the US Dollar before the Eurozone inflation data release. EUR/USD hit a low of 1.1851, the weakest since 2006, amid expectation that stimulus measures by the ECB will be set early this year. One of the reasons of Euro's weakness was the US Dollar index, which hit a nine-year high
On Tuesday US natural gas prices fluctuated due to investors monitoring unstable changing weather forecasts for the next two-week period. In February natural gas tacked on 0.6 cents at $2.889 a million British thermal units. Short-term weather forecasts called for chill temperatures, boosting demand for heating fuel, while extended forecasts showed that colder readings were expected closer to the end
Oil declines below $55 per barrel and rises rumors about Norway's central bank will be forced to lower rates again. Brent crude experienced a 54% decline since June's high, which had a great impact on Norway's industry, where oil and gas make up to 22% of GDP. In the same amount of time the Krone lost approximately 20% versus the
Russian bond insurance cost against default jumped to the highest level in nearly six years amid concerns the nation's credit rating cut to junk is imminent. Thus Russian Ruble declined for a second day, while contracts increased to 126 basis points in three days, along with five-year credit default swaps gaining 63 basis points up to 601. The Ruble weakened