James Bullard, the St.Louis Fed's President, said on Monday that the improving U.S. economy and its labor market increase the probability that the Federal Reserve will reduce stimulus soon. At the same time, he pointed out that the tapering amount should be limited due to very low inflation in the U.S. This year, James Bullard is the FOMC member. Also,
Retail sales in the second biggest economy of the world surged annually 13.7% in November of this year, as the stable recovery in China continued to increase the pace. At the same time, the manufacturing production in the country added 10% on the annual basis after a 10.3% advance a month ago. It is worth pointing out that all the
The consumer confidence index in Japan advanced in November, however, the pace of increase was much lower than analysts forecasted. The unadjusted index of consumer confidence in the country jumped to 41.9 points versus 41.2 a month ago. Meanwhile, economists expected the index to reach 44 points. At the same time, the evaluation of personal finances in Japan climbed to
The total number of new loans for buying property in Australia rose 1.0% in October of the current year, while the pace of increase declined from a month ago, when the indicator added 3.5%, being revised down from 4.4%. Therefore, the number of loans reached 52,305 in November. Analysts say that the total value of issued loans was $16.185 billion,
According to the Ministry of Economy data, the activity in the tertiary industry of Japan declined in October of this year, as the overall economic recovery in the country continues to be weak. The corresponding index, which measures the activity level, was down 0.7% in October. Experts, in turn, predicted the service sector in Japan to rise 0.1% after a
The manufacturing production in the largest economy of the Eurozone surprisingly dropped in October of 2013, marking the second consecutive month of a decrease. The indicator lost 1.2% on a monthly basis after a 0.7% fall in September. At the same time, analysts predicted the manufacturing production add 0.7% in October. On the annual basis, the output showed a 1%
Activity in the construction sector of Ireland continued to increase in November of this year, while new orders advanced as well. The benchmark PMI Index from the Ulster Bank, which measures the activity level in this particular sector of Irish economy, decreased to 58.8 points in November against 59.4 a month ago. At the same time, the reading above 50
The trade surplus in Denmark expanded to its highest level in 43 months in October of the current year, as the positive difference between country's exports and imports reached 9.3 billion kronor versus a 5.8 billion kronor surplus a month ago. Exports climbed as much as 2.6% on higher ships and aircraft shipping to other countries, while imports dropped 2.5%
The economy of Latvia shows better signs of the recovery, as country's GDP advanced 1.3% in the last quarter versus the second quarter, when the economic growth was only 0.1%. Analysts, however, predicted the Latvian economy to show a 1.2% growth. Meanwhile, the economy jumped 4.5% on the annual basis, as it was the second highest GDP increase in the
Economic decline in Cyprus decreased in the previous quarter of this year to 0.8% on a quarterly basis, while in April-June the country's economy slid 1.8%. At the same time, all the indicators matched analysts' forecasts. Moreover, the GDP decreased 5.3% on the annual basis after a 6% drop a quarter ago, better than economists expected. The Cyprus economy is
The U.S. currency increased on Monday rising versus the Japanese Yen before the Federal Reserve top officials speak about the stimulus measures raising speculations that the country's central bank may scale back soon. The Greenback gained 0.1% to 103.05 yen as of 6:52 a.m. London time following a 1.1% advanced recorded on December 6.
The Australian currency weakened on Monday snapping its two-day gain against the U.S. Dollar amid speculation that the country's economic growth may be lagged as the growth in the U.S. rose faster than forecast damping demand for local South Pacific assets. The so-called Aussie dropped 0.2% to 90.84 U.S. cents by 5:53 p.m. Sydney time following a 0.8% gain in
Japanese equities increased for the second straight day on Monday pushing the local benchmark index to its largest gain in a three-week period as the nation's currency weakened versus the U.S. Dollar and as the U.S. economy grew faster than forecast. The Topix Index added 1.6% to 1,255.32 in Tokyo, the biggest advance since November 15.
German government bunds were little changed on Monday pushing the benchmark 10-year yields from the strongest level since October 17 reached last Friday before an industry report showing that industrial production in the country increased in October. 10-year bund yields were at 1.85% by 7:08 a.m. in London, falling from 1.89% touched on December 6.
The British Sterling swung between gains and losses on Monday against the U.S. Dollar and the shared currency before the British central bank Governor Mark Carney's speech at the New York's economic club. The Pound fluctuated at $1.6365 by 7:31 a.m. London time following a jump to the strongest level seen since August 2011 at $1.6443 on December 2, while
The European benchmark Brent crude recorded a modest increase on Monday after hedge funds spurred crude's bullish positions after reports showed that economic growth in the U.S. and China increased. Brent for settlement in January gained 12 cents to $111.73 a barrel on the London's ICE Futures Exchange reaching the WTI-Brent premium of $13.96.
West Texas Intermediate crude increased on Monday traded close to the strongest level in nearly six weeks after an industry report showed that net crude imports in China rebounded last month and as unemployment in the U.S. declined. WTI for delivery in January rose 13 cents to $97.78 a barrel on the NYMEX as of 1:50 p.m. in Singapore.
Japan's overall bank lending increased in November mainly due to an advance of foreign banks' lending rising 8.4% to 2.290 trillion yen, the latest data showed by the Bank of Japan unveiled on Monday. The nation's bank lending was up 2.4% year-on-year in November following a 2.3% gain in the prior month, while bank lending including trust jumped 2.2% on
Japanese current account balance came in deficit in the month of October compared to a surplus preliminary forecast, a report unveiled by the Ministry of Finance reported on Monday. According to the report, the country recorded a 127.9 billion yen current account deficit in October following an October's surplus of 587.3 billion yen.
The performance if the Asia's second largest economy increased in the three month until September recording the fourth successive quarterly growth, a report published by the Cabinet Office revealed on Monday. According to the report, Japan's gross domestic product grew 0.3% in the Q3 compared to a 0.4% advanced originally expected.
Staff demand in the United Kingdom rose at the fastest pace seen since July 1998 mainly due to an increase in private sector, the latest data Reports on Jobs published by Markit Economics and consultancy company KPMG revealed on Monday. According to the reports, the total number of people employed continued to increase in November together with rising salaries of
Exports in China increased in November pushing the country's trade surplus to the strongest level in almost five years rising from $31.1 billion in September to a level of $33.8 billion in the following month, the National Bureau of Statistics reported on Monday. China's exports grew to 12.7% on an annual basis in November from 5.6% in the prior month,
The 17-nation bloc currency advanced on Monday traded near the strongest level in six weeks versus the U.S. Dollar and reached a five-year peak versus the Japanese Yen after a government report showed that U.S. payrolls increased last month. The Euro strengthened from $1.3701 on Friday to $1.3748 earlier on today's session, while it traded at 141.54 yen, the most
Inflation in the world's second largest economy advanced in November, however, the pace of growth was slower than economists originally expected suggesting that the Bank of Japan may continue its aggressive bond-purchasing program. China's year-on-year consumer inflation eased from the highest level in eight months of 3.2% in October to 3% in the following month.