The Japanese Yen strengthened on Monday trading session rebounding from the lowest level in five years against the U.S. Dollar and the Euro as Tokyo stocks declined creating an inverse correlation with local currency. The Yen rose 0.5% to 104.38 per U.S. Dollar after reaching a five-year peak at 105.45 on Thursday and it traded at 141.79 per Euro.
The majority of Asian shares declined on Monday falling towards the lowest level in three weeks after a government report showed that China's service sector decreased steeply suggesting that the country's economy may lost its momentum. The MSCI Asia-Pacific gauge outside Japan slipped 0.8% after dropping 1.1% on Friday.
Construction industry in the U.K. continues to show a considerable advance in activity, while the benchmark PMI Index, which measures the activity level in this sector of country's economy, decreased marginally to 62.1 points in December. The result was stronger than analysts predicted, following 62.6 points in November. The December reading is the second-biggest since 2007.
The unemployment level in Spain, which struggles with the highest jobless rate in the Eurozone, unexpectedly dropped by 107,570 in December of 2013, the data of Labor Ministry showed on Friday. The total number of unemployed people stands now at 4.7 million, while the jobless rate probably fell to 26%. Analysts, however, forecasted the unemployment in the country to add
According to the Bank of Finland outlook, the best-rated economy of the Eurozone may increase its public debt to 110% of GDP, or more than twice from current 53.6%. The state budget deficit equals 9 billion euros, while aging population will put additional pressure on public finances in the country. At the same time, the successful spending reforms may help
Power and electricity prices in the largest economy of the Eurozone will most likely continue to decline during the current year, as cheap coal prices encourage the biggest energy companies to build new power plants. They will be able to increase energy supply by 17%, while power prices have already lost 32% since 2010 on record solar and wind output.
According to economists' expectations from Capital Economics, British manufacturing will most probably show a significant increase in 2014, taking into account the latest tendencies and PMI index values. It is forecasted the manufacturing sector of the U.K. will add 3% this year. Moreover, analysts say that it is positive, when the economy recovers not only due to growth in consumer
Swiss economic activity advanced for the ninth successive month in December signalling the country's economy may gain its momentum, a report published by the KOF Institute showed on Friday. According to the report, the KOF Institute's economic barometer in Switzerland increased from November's 1.85 to a level of 1.95 in the following month.
Inflation measured as harmonized price index in Spain stayed flat in December missing an initial forecast of a 0.4% advanced, a data revealed by the statistical office INE showed on Friday. According to the report, the Spanish harmonized price index recorded 0.3% in December, whereas consumer price inflation in the country also remained unchanged at 0.2% on the month.
European equities fluctuated on Friday trading session on speculation that gains may be extended after the region's benchmark gauge recorded the largest yearly advanced since 2009 and as China's service sector slowed down in December. The Stoxx Europe 600 Index gained 0.2% to 326.32 as of 8:09 a.m. London time after it dropped the most since December 17 yesterday.
The European benchmark crude advanced on Friday trading session with the Brent-WTI premium rising after a report showed that manufacturing activity in the U.S. increased faster than expected in December and as stockpiles in the U.S. dropped to 364.7 million barrels. Brent for delivery next month added 0.1% or 15 cents to $107.93 per barrel on the London's ICE Futures
China's shares declined on Friday trading session with the local benchmark stock index recording a weekly fall after the country's non-manufacturing sector declined to the lowest level in four months in December according to a government report today. The Shanghai Composite Index tumbled 1.2% to 2,083.14 and it dropped 0.9% this week.
Emerging-market shares declined on Friday with the region's benchmark stock index falling towards the lowest level in seven weeks as the local currencies dropped after a report showed that service sector in China decreased further in December. The MSCI Emerging Markets Index fell 0.9% to 981.50 by 1:44 p.m. Hong Kong time, the least since November 13.
West Texas Intermediate oil slipped on Friday and traded close to its weakest level in a 30-day period on speculation that the U.S. stimulus measures may be trimmed further as the country's economy improves. WTI for delivery in February traded 13 cents lower at $95.31 per barrel on the NYMEX as of 2:17 p.m. in Singapore after it dropped $2.98
The Australian Dollar, the worst-performing most-traded currency in 2013 together with Yen, increased on Friday and was set to record its largest weekly gain in a two-month period amid speculation that the recent decline was too rapid. The so-called Aussie jumped 0.6% to 89.68 U.S. cents and it has gained 1.1% this week, the most since October 18.
Manufacturing activity in the U.S. declined in the last month of 2013 after rising at the fastest rate in two years on a sequential basis in November, a report revealed by the Institute for Supply Management showed on Thursday. The country's ISM purchasing managers' index slipped from November's 57.3 to a level of 57 in December.
Private construction spending in the world's largest economy advanced notably in November offsetting a decline in public construction with both indicators matching economists' forecast, the Commerce Department showed in a report yesterday. The U.S. construction spending gained 1% totaling $934.4 billion in the month of November from October's $925.1 billion.
A house prices growth in the United Kingdom accelerated at a faster pace than economists originally expected in the last month of 2013, a report revealed by the Nationwide showed on Friday. According to the report, the house prices in the U.K. added 8.4% on an annual basis in December following a 6.5% advanced in the month before.
The Japanese Yen strengthened on Friday rebounding from the lowest level in five years against the U.S. Dollar and the 18-nation bloc currency. The Yen increased 0.5% to 104.26 yen after falling to its five-year low at 105.45 yesterday and the U.S. Dollar traded 0.9% lower versus the yen this week, at the same time the Yen traded at 142.47
Wall Street shares ended lower on their first trading session in the new year as traders took profits after the benchmark index Standard & Poor's 500 recorded its best yearly performance since 1997. The Dow Jones industrial average dropped 0.82% to 16,441.35, the S&P 500 Index lost 0.89% to 1,831.98 and the Nasdaq Composite Index slid 0.80% to 4,143.07.
Non-manufacturing sector in the world's second largest economy declined in December falling towards the lowest level in four months mainly due to a drop in business expectations suggesting that the country's economy lost its momentum, the National Bureau of Statistics reported on Friday. China's service sector PMI fell from 56 in November to 54.6 in the following month.
Asian stocks slipped on Friday after reports worldwide showed that manufacturing activity improved mainly in the U.S., Germany and Japan, however service sector in the world's second largest economy declined together with factory sector. The MSCI broadest Asia-Pacific gauge outside Japan slid 1% and the Australian benchmark index ended lower as well.
The total number of applications for unemployment benefits in the U.S. declined during the week, which ended on December 28, as the typical for the end of the year volatility declined slightly. The number dropped to 339,000 from negatively revised 341,000 a week before. Economists were waiting for 344,000 applications, while the average four-week number of claims surged to 357,250.
Economy of Singapore posted a decline in the last quarter of the previous year, while the activity decreased in both manufacturing and service sectors of country's economy. GDP lost 2.7% on the annual basis in October-December quarter versus a growth of 2.2% a quarter ago. At the same time, analysts say that the decline can be short-term, as the global