The Euro declined the most versus the greenback in two months on speculation that its six-month advance will end even as there were positive reports for European economy. The 18-nation currency added 1.2% to $1.3589 today, after rising to $1.3893 on December 27, the highest level in two years, while the Yen rose 0.6% to 142.48 per Euro.
The British currency depreciated for a third straight day versus the greenback after U.K. services growth slowed surprisingly in December. The Sterling slid 0.3% to $1.6376 as of 12:32 p.m. in London, after reaching $1.6603 on January 2, the strongest level in two years. The Pound declined 0.4% to 83.06 pence per Euro after touching 82.71 pence on January 2,
Australian Dollar appreciated versus majority of its most-traded counterparts ahead of nation's trade and retail sales data that are coming out later this week. The Aussie traded 89.46 U.S. cents at 5:03 p.m. Sydney time, after it was at 89.45 on January 3, while it added 0.2% to NZ$1.0838. The Kiwi slid 0.2% to 82.56 U.S. cents and slipped 0.7%
The Japanese Yen gained to the highest level in two weeks versus the greenback on a Chinese services slowdown and a decline in Asian shares. Japan's currency added 0.3% to 104.60 per Dollar as of 7:01 a.m. New York time, after strengthening to 104.08 last week. The Yen rose 0.1% to 142.29 per Euro, while the Euro appreciated 0.1% to
Business activity in Italy's private sector declined in December falling for the second successive month, however the rate of drop was lower than in the previous month, the latest report revealed by Markit Economics and ADACI showed on Monday. The Italian service sector purchasing managers' index recorded 47.9 in December after falling to 47.2 in the prior month.
Spanish service industry accelerated in December rising at the fastest pace since July 2007 led by improved business activity and new orders, a data unveiled by Markit Economics revealed on Monday. According to the report, Span's Business Activity Index added from November's 51.5 points to a level of 54.2 in December, the second consecutive reading above 50.
Shares in the United Kingdom were little changed on Monday with the local benchmark index recording its first weekly drop in a three-week period before an industry report showed that the U.K. service sector accelerated last month. The London's FTSE 100 advanced 7.59 points to 6,738.26 by 8:40 a.m. London time with three stocks rising for every two falling.
German equities declined on Monday after recording a weekly drop last week before a report showed that service sectors in the 18-nation bloc and the U.S. increased in the last month of 2013. The local benchmark index DAX shed 0.3% to 9,409.19 as of 9:55 a.m. Frankfurt time following a drop totaling 1.6% last week.
The British Sterling weakened on Monday trading session falling for the third straight day against the U.S. Dollar after the Bank of England Chancellor George Osborne claimed that spending cuts are necessary to tax reductions. The Pound slipped 0.4% to $1.6352 as of 7:58 a.m. in London following an increase to $1.6603 on January 2, the most since August 2011.
Service sector activity in Ireland advanced in the last month of 2013 mainly due to a notable increase in new business suggesting that local economic conditions have improved, a report released by the Markit Economics unveiled on Monday. According to the report, the country's Business Activity Index rose from November's 57.1 to 61.8 points in December.
Emerging-market equities decreased on Monday trading session pushing the local benchmark index towards the lowest level in four months after a report showed that China's service industries slowed in December suggesting that the economy may lose its momentum. The MSCI Emerging Markets Index slipped 0.6% to 973.81 as of 2:45 p.m. Hong Kong time.
European equities were little changed on Monday trading session as traders awaited results from Eurozone's data showing that service sector in the area expanded in December and as China's non-manufacturing indicator slowed in the last month of 2013. The benchmark index Euro Stoxx 50 with expiration in March slipped 0.2% to 3,06 as of 7:14 a.m. London time.
Government bunds in Germany were little changed on Monday before a government data showed that manufacturing activity in the 18-nation bloc increased together with a growth in service sector rising for the sixth successive month in December. The benchmark 10-year bunds yielded at 1.93% as of 7:17 in London after jumping to 1.97% on January 2, the most since September
Saudi Arabia's non-oil private sector activity accelerated in December rising at the fastest rate in a three-month period led by a notable increase in new orders, Markit Economics and HSBC Bank showed in a report on Monday. According to the report, Saudi Arabia's private sector purchasing managers' index gained from November's 57.1 to December's 58.7.
Business activity in Japan increased with the service sector accelerating for the fourteenth successive time in December, a report revealed by Markit Economics showed on Monday. According to the report, Japan's Business Activity Index for service sector added from 51.8 in November, the least in three months, to 52.1 in December.
Service sector in the world's second largest economy eased down in the last month of 2013 with the pace of growth falling towards the lowest level since 2011 mainly due to a drop in new work inflow, Markit Economics and HSBC Bank showed in a report on Monday. China's business activity index for service sector slipped from 52.5 points in
Automobile sales in Japan advanced in the month of December on an annual basis with Toyota sales rising 11.8%, Nisan sales increased 1% and Honda recorded a 5.3% gain in sales, according to the Japan Automobile Dealers' Association on Monday. Japan's automobile sales jumped 18.7% in December totaling 254,464 units from November's 214,429.
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