Economic expectations in Switzerland deteriorated in September, a survey by the European Economic Research (ZEW) and Credit Suisse showed Wednesday. The ZEW index that measures expectations of futures economic performance fell by 1.6 points to -34.9, down from -33.3 in the prior month. A reading above 0.0 indicates optimism, while a reading below indicates pessimism.
The outlook for the Chinese real estate development sector stayed negative despite some advance in the last six month amid improving liquidity and an increase in sales volumes, S&P said on Wednesday. Property prices in China rose in 35 out of 70 cities in August, an increase was due to interest rate cuts by the People's Bank of China.
Japan's leading economic indicator tumbled for a fourth straight month in July, Cabinet Office said on Wednesday. The leading index dropped to 93 from 94.1 in June. Both July's and June's readings were upwardly revised from 92.8 and 94.1 respectively. Meanwhile, the lagging index slipped to 86.7 in July from 86.8 in the preceding month.
Rural commodities apart from coffee plunged on Tuesday amid stronger US Dollar and favorable weather conditions in the world top growing regions. Moreover, recent rally in prices encouraged producers to sell more supplies, sending farm commodities lower. Wheat sank as planting of the US winter-wheat crop accelerated due to dry weather. Adding pressure on the commodity, Australia is likely to witness
On Wednesday, the BOJ eased monetary policy through supporting its asset buying program, as weakening exports and outcome from a territorial conflict with China showed that prospects of a short-term recovery in Japan's economy faded. The Yen dropped to a month low, bonds advanced and Nikkei stock average reached a four-month high amid the decision of a bigger-than-forecast stimulus.
Energy commodities tumbled on Tuesday on global growth fears and weakening manufacturing activity in the US. The New York manufacturing activity dropped unexpectedly this month, attaining three-year low. Moreover, solid greenback added pressure on the commodity group. Crude oil plunged as uncertainty over Spain's bailout and contracting manufacturing activity in the US pressurized the commodity price. Brent oil retreated on tensions between
Foreign Direct Investment in China tumbled in August mainly because of lower inflows from crisis-trapped European Union. FDI dropped 1.4% on year in August to $8.3 billion, the Ministry of Commerce said on Tuesday. During first 9 month of the year, China attracted $75 billion in FDI, down by 3.4%. Meanwhile, outbound investment climbed around 39% to $47.7 billion.
Base metals were mixed on Tuesday amid broadly stronger US Dollar and profit-taking after US stimulus-fueled rally. Meanwhile, weak state of the US manufacturing activity continued to push industrial metals lower. Aluminum prolonged its slump as financial instability in Eurozone continued to weight on market sentiment. Copper swung from losses to gains on positive US current account data. However, softening manufacturing activity
Precious metals were mixed on Tuesday, with gold and silver rebounding and palladium and platinum tumbling. Strong US Dollar, profit taking and fading boost from the US stimulus measures all created heavy selling pressure on the commodity group. Gold advanced despite appreciation in US Dollar amid upbeat current account data. Meanwhile, traders locked in profits after previous rally of the yellow
Australia's leading economic indicator extended advance in July, while its rate of rise stayed lower than its long-term trend signing that the economy is unlikely to outperform trend in the foreseen future. The annualized increase of the leading index was 2.2%, lower than the long-term trend of 2.7%, Westpac reported on Wednesday. Meanwhile, annualized expansion rate of coincident index was
New Zealand' current account posted a shortfall of NZ$1.797 billion in Q2 of the year, Statistics New Zealand reported on Wednesday. Economists had forecast a deficit of NZ$1.620 billion, while the upwardly revised deficit for the first quarter was at NZ$1.072. Significant expansion of the shortfall was due to increase in earnings of foreign-owned banks in New Zealand.
German shares are trading in the negative territory on Tuesday despite positive news from Eurozone. On Tuesday, Spain sold the targeted amount of debt with lower borrowing costs. Moreover, German ZEW economic sentiment index advanced more-than-expected in August. The German DAX Index slumped 0.70% to trade at 7,351.78. Only three sectors included in the index rose. The top-performers were consumer
UK stocks are trading lower on Tuesday after Spanish debt sale. Spain sold EUR4.6 billion of bills, slightly above the target. The borrowing costs declined and Spain's 10-year bonds increased for the first time in four days even despite uncertainty whether the country will seek a new bailout. Meanwhile, UK CPI rose in August to annualized 2.5%, being in line
Hong Kong stocks declined on Tuesday on China's dispute with Japan over Senkaku/Diaoyu islands. The largest China's cities witnessed protests that turned to violence directed against Japanese businesses. Moreover, weakness of the commodity markets weighted down on the Hong Kong blue chips index. The Hang Seng Index lost 0.27% to close at 20,601.93. Only two business sectors included in the
Japanese shares dropped on Tuesday amid escalated tensions over a group of islands recently purchased by Japan from China. Several large Japanese companies suspended operations in China because of protests that turned to violence in some China's cities. Japan's companies with high exposure to China created heavy pressure on the Japanese stock index. The Nikkei 225 Index edged lower by
The U.S. current account deficit narrowed to $117.4 billion in the second quarter of 2012, $133.6 billion in the first quarter, the Commerce Department reported on Tuesday. Analysts had predicted U.S. current account balance to fall to -125.5B last month. The decline may be, mostly, explained by the fall in oil prices and a larger surplus in income payments.
Farm commodities except for sugar followed downward trend on Monday as US harvesting accelerated due to favorable weather conditions. Meanwhile, recent surge in sugar and coffee prices motivated producers to sell inventories. Wheat slumped the most since January on accelerated US planting. USDA reported that winter-wheat crop was 11% planted compared 4% in the preceding week. Corn tumbled as dry weather
Energy commodities plunged on Monday as rally on easing in the US paused amid increasing profit booking and concerns over spreading debt crisis in Eurozone. However, escalated tensions in the Middle East continued to create supply risk-premium for the commodity group. Crude oil sank on stronger US Dollar and fading impact of the Fed easing measures. Meanwhile, market players await fresh
US blue chips slid n Monday on weak manufacturing activity in the US. The New York manufacturing index dropped further in September while industrial and factory production contracted last month. Moreover, China growth concerns created additional pressure on the US blue chips index. The Dow Jones Industrial Average Index lost 0.30% to close at 13,553.10. Only three out of ten
Industrial metals apart from nickel retreated on profit booking after last week's rally. Moreover, growth concerns in Eurozone and China created heavy selling pressure on the base metals' pack. Aluminum went lower on rising cautiousness among investors amid uncertainty over Spain's bailout. Over the weekend thousands of people in Spain protested over budget spending cuts. Copper slid almost one per cent on
US stocks retreated on Monday on signs of deepening recession in the US. The New York manufacturing index continued to dip this month. Moreover, a boost created by long-awaited easing measures in the US started to fade. The S&P 500 Index lost 0.31% to close at 1,461.19. Four in ten sectors within the index climbed. The top-gainers were telecommunication and
Precious metals halted their rally on Monday as markets already priced in Fed stimulus measures announced last Thursday. Stronger US Dollar also added pressure on the commodity group. Meanwhile, lingering worries over instability in Spain after thousands of people protested against austerity measures over the weekend also pressurized precious metals. Gold slumped on profit-taking after recent soar on long-awaited Fed easing
On Tuesday, European stocks fell the most for the last two weeks amid concerns that borrowing costs for Spain will rise, if it does not seek for bailout. The Stoxx Europe 600 Index declined by 0.8% to 272.69 at 9:36 a.m. London time, which was the sharpest fall since September 4. Renault SA pulled a gauge of automakers in Europe down after reported slump of
On Tuesday, ZEW reported that its index, which measures economic expectations for Eurozone, has improved significantly in September. ZEW economic sentiment climbed to minus 3.8, from the figure of minus 21.2 in the preceding month. Analysts expected a more modest increase to the level of minus 16.5 in September.