Producer prices in the world's largest economy increased in April rising by more than economists originally expected as food prices posted a notable advanced on the month, the latest data released by the Labor Department showed on Wednesday. The U.S. producer price index gained by 0.6% in the month of April after rising by 0.5% in the prior month.
Wall Street opened lower on Wednesday trading session as risk appetite of investors improved after the benchmark indexes recorded their new all-time highs yesterday. The Standard & Poor's 500 Index added 0.10% to 1,895.62, the Dow Jones industrial average gained 0.11% to 16,697.81 and the Nasdaq Composite index surged 0.28% to 4,118.68.
The 18-nation bloc currency held steady versus its U.S. counterpart on Wednesday and it rebounded from the weakest level in sixteen months against the British Sterling after the Bank of England decided to maintain its interest rates unchanged. The Euro was traded at $1.3710 after falling to $1.36885 yesterday, while it was last seen at 81.75 pence.
The majority of government bonds across the Eurozone increased on Wednesday pushing the benchmark 10-year yields towards record lows amid speculation that the European Central Bank may cut its interest rates next month on the policy meeting. The German 10-year bunds yields fell to the weakest level in one year of 1.38%, while the Italy's 10-year yields dropped to 2.90%.
Asian equities increased on Wednesday trading session as investors' appetite improved after the benchmark U.S. stock index Standard & Poor's 500 closed at its new all-time high. The MSCI broadest Asia-Pacific gauge outside Japan added as much as 0.8%, the Hong Kong benchmark index inched higher by 1%, while the Japan's Nikkei 225 fell 0.1%.
The majority of European shares slightly declined on Wednesday with the benchmark stock index falling from the strongest level in a 14-year period reached yesterday after the Bank of England said it keeps rate at the current level. The London's FTSE 100 Index slipped as much as 0.2% to 6859 points, while the broader FTSEurofirst 300 Index dipped 0.25% to
The British Sterling dropped on Wednesday trading session after the Bank of England decided to maintain its benchmark interest rates unchanged cooling investors' expectations for rate hikes by a major national bank. The Pound was trade at a level of 81.80 pence against the Euro as of 12:00 London time, while it slipped to $1.6770.
The harmonized index of consumer prices in Spain turned back to the positive value in April of 2014, reaching 0.3% on the annual basis, after a 0.2% decline a month before. From March 2014, the indicator added 0.6%, rising in line with analysts' estimations. At the same time, consumer prices advanced 0.4% in April year-on-year, jumping 0.9% from March.
Unemployment level in the United Kingdom slipped to 6.8% in the first three months of the current year, putting pressure on the Bank of England in terms of rising interest rates, as the indicator fell below the target of 7% already in December-February quarter. Moreover, the number of jobless claims plummeted further by 25,100 in April, slight below the prediction
The government of Australia announced a series of spending and tax reforms, in order to decrease negative budget gap and turn it to surplus by 2018. The negative balance will decline from A$49.9 billion this year to $A29.8 billion by June 2015. Among fiscal measures, the spending on public services, welfare and and will be cut, while the tax on
The stocke market in Europe opened in the green zone on Wednesday, while investors continue to evaluate the companies' performance in the first quarter of this year. Asian shares, in turn, showed a significant jump today. The benchmark Europe Stoxx 600 Index increased 0.1% to 341.99 points by 7:00 GMT in London. Yesterday, the indicator surged to its largest level
Emerging-market stocks increased on Tuesday session heading towards the strongest level in a six-year period as Indian shares gained after exit polls in the country showed a win of opposition bloc and as Russian shares gained for fifth successive day. The MSCI Emerging Markets Index surged 0.7% to 1,022.81 by 3 p.m. London time.
The European benchmark Brent crude advanced on Tuesday trading session amid speculation that stockpiles in the U.S. probably gained by 300,000 barrels in the week ended on May 16, while distillate inventories rose by 1 million barrels. Brent for delivery in June added $0.29 to $108.70 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate crude jumped on Tuesday trading session rising to the strongest intraday level in a two-week period on speculation that inventories in the U.S., the world's largest oil user, dropped. WTI for settlement in June advanced to a level of $101.44 per barrel on the NYMEX and was last seen at $101.26 by 1:02 p.m. in London.
Australia's house prices increased on a sequential basis in the first three months of this year, however the pace of growth was lower than originally estimated, a report released by the Australian Bureau of Statistics showed on Tuesday. The country's house prices inched higher by 1.7% in the Q1 after rising by 3.5% in the Q4, while it was forecast
Inflation in Portugal dropped in April falling for the third successive month, however the pace of decline was lower than in the month before, a report revealed by the Statistics Portugal showed on Tuesday. According to the report, the country's harmonized index of consumer prices dipped 0.1% on an annual basis in April after falling by 0.4% in March.
Inflation measured as consumer price index in Sweden stayed flat in the month of April after recording drop in the January-March period, a report unveiled by the Statistics Sweden showed on Tuesday. According to the report, the Sweden consumer price index remained unchanged compared to a 0.1% drop originally projected.
Import prices in the U.S. dropped in April despite the fact that fuel imports recorded a notable pullback on the month and as economists estimated increase of import prices, the latest data unveiled by the Labor Department showed on Tuesday. The world's largest economy's import prices slipped by 0.4% in the month of April after rising by 0.4% in March.
Industrial production in the world's second largest economy weakened surprisingly in April together with retail sales rising at a slower rate than economists estimated, a report unveiled by the National Bureau of Statistics showed on Tuesday. The country's industrial output added 8.7% on an annual basis in April following a 8.8% gain in March, while retail sales expanded by 11.9%
Economic expectations in the 18-nation bloc worsened notably in the month of May together with decline in German economic situation index, the latest report released by the ZEW unveiled on Tuesday. According to the report, the Eurozone economic expectations indicator slipped by 6 points to a level of 55.2 points in May, while the current economic situation index added 4.9
A gauge measuring economic expectations in the Europe's largest economy declined in May falling by more than economists originally expected, a report released by the Centre for European Economic Research unveiled on Tuesday. According to the release, the German economic sentiment index plunged from April's 43.2 to 33.1 instead of 40 as a consensus.
Retail sales in the world's largest economy advanced in April, however the pace of growth was lower than expected after recording a sharp gain in March, the latest report released by the Commerce Department showed on Tuesday. According to the report, the U.S. retail sales surged 0.1% in April after posting a 1.5% jump in the previous month.
The Swedish Crown increased on Tuesday rising against the euro-area currency after a report showed that inflation in the country accelerated by more than economists originally expected and on speculation that the ECB may add more stimulus soon. The Euro slipped 0.5% to 8.9935 Swedish crowns before trading at 9.0420.
The 18-nation bloc currency dropped on Tuesday trading session falling towards the weakest level in a month versus the U.S. Dollar after a government report showed signaled that Bundesbank would back the ECB's monetary easing in order to support the economy. The Euro decreased as much as 0.4% to $1.3700, the least since April 7.