The Ruble fell 0.4% to 32.29 per Dollar and local debt yields gained, as oil, Russia's main export, slipped. On Tuesday, Ural's crude oil fell 1.8% to $104.21 per barrel, the biggest drop in a week. The Ruble also declined 0.4% to 39.7625 per Euro. Government debt of 54 billion Rubles ($1.7 billion) due February 2027 tumbled, raising the yield
U.K.'s PMI unexpectedly fell to 45.4 in July from 48.4 in June. It was the weakest rate since May 2009, falling below most pessimistic forecasts. The survey posted that export orders tumbled at the fastest rate since February 2009, while the output index slipped to 43.3 from 51.9. The ongoing slowdown in production boosts weight on the government to find
Italy's seasonally adjusted Purchasing Managers' Index slipped to the lowest level in three month of 44.3 in July, from 44.6 in June, reported by Markit on Wednesday. The survey posted that producers reduced employee number at the quickest pace since October 2009, while output tumbled rapidly in July. Both output and input prices fell in July.
U.K. retail prices advanced 1% from the previous year, after 1.1% rise in June, as reported on Wednesday in London. U.K. retail prices showed the smallest increase since November 2009 as stores decrease prices for groceries and food in July. Food-prices inflation eased to 3.1% from 3.5%, meanwhile non-food prices tumbled an annual 0.3%.
Spain's factory slowdown pace eased in July, while the sector still declined for the 15th month in a row and jobless rate climbed to the two-year high. Spain's PMI rose to 42.3 in July from 41.1 in June, beating forecasts of 40.5. Spain's manufacturing area is based on aerospace and automotive industries, which are both hit by the Eurozone crisis
The Canadian Dollar gains against the U.S. Dollar for a second consecutive month amid speculations that the Fed and the ECB may loosen their monetary policy, which in turn stimulates appetite for high-yielding currencies. The Loonie rose 1.4% in July following a 1.6% gain in June on the ECB's determination to undertake measures in order to lower Spanish and Italian
In order to assure investors that Spain can avoid a full scale bailout amid increasing borrowing costs, the Spanish government introduces regional debt ceiling this year. 13 out of 17 regions supported the initiative of the debt limits, which are 15.1% of GDP for this year and 16% for next year.
Equities, bonds, commodities and the U.S. Dollar gained for the first time since April 2010, as the ECB President Mario Draghi urges to protect the Euro stocks and the corn prices skyrocketed. The ICE Dollar Index gained 1.3%, while all type bonds returned 1.4% on average. The MSCI All-Country World Index of equities rose by 1.4% at the end of
House prices in Australia unexpectedly increased in the previous quarter, following five consecutive quarters of drops, as interest rate cuts by the RBA lured buyers. 125 basis points of rate cuts were aimed at helping strengthen the Australian economy as the Eurozone debt crisis escalates as well as at helping households to pay down debt.
China's home prices showed the biggest rise in a year, reported SouFun Holdings Ltd., the owner of country's major real estate website. Real estate prices gained 0.3% to 8,717 yuan ($1,369) per square meter in July, the second monthly gain and the strongest increase since June 2011. The back-to-back monthly rise posted the "turning point" for China's real estate market.
Oil futures were near two-week low amid fears that central banks will not boost slipping global manufacturing. On Wednesday, crude for September settlement traded at $88.03 per barrel, after closing yesterday at $88.06, the lowest since July 13. September delivery brent oil was down 22 cents to $104.70 per barrel.
The Yen gained versus its major counterparts amid Asian stocks fall on signs that manufacturing around the world declines. Japan's currency rose 0.2% to 95.93 per Euro after China's PMI displayed the slowest manufacturing growth in eight month and earlier than a European manufacturing benchmark proves estimated slid in July. The Yen also gained 0.1% to 8.03 per Dollar.
China's Purchasing Managers' Index tumbled to 50.1 in July, the eight-month low, as the government reported on Wednesday. China moved very close to the 50 marks, the dividing line between contraction and expansion. Leaders of China from the Communist Party promised on Tuesday to continue adjusting policies to guarantee stable boost.
Oil futures dropped for a second day in a row, as the Federal Reserve may announce additional measures to boost the world's biggest economy. September oil declined by 1.8 per cent, to $88.17 per barrel, Brent crude for September delivery tumbled 1.1 per cent, to $105.05 per barrel. The fall was also provided by Angela Merkel's coalition rejection to provide Euro rescue fund with a
The greenback weakened versus the basket of major trading-partner currencies before highly anticipated meetings by the ECB on Thursday and the Federal Reserve on Tuesday. During today's New York trading session the U.S. dollar lowered versus the shared currency, with EUR/USD adding 0.38 per cent to $1.2308. The ICE dollar index erased 0.20 per cent to 82.71.
According to the Commerce Department, consumer spending in the U.S. was flat in June, while personal income and wages both added 0.5 per cent. The growth of income and wages had direct impact on savings, which rose to 4.4%, the highest level in this year. The main reason why the world's biggest economy expanded only by 1.5 per cent in the second quarter, was weak
On Tuesday, July 31, the Reserve Bank of India lowered its growth forecast for this financial year to 6.5 per cent from previous estimate of 7.5 per cent. The forecast was lowered mostly because the nation's economy expanded only by 5.3 per cent in the first quarter, the slowest pace since 2003 and as the consumer price index jumped above 7 per cent level. At the
Honda Motors ended second quarter with $1.7 billion in net profit. The automaker doubled its U.S. and Japan sales, while revenue from Honda's motorcycle division advanced as well. Meanwhile, the world's third-biggest carmaker remained its forecast of a net profit of $6 billion for the 2012 financial year unchanged. The net profit in the previous year was four times smaller, due to natural disasters in
On Tuesday, July 31, gold futures edged higher on hopes for policy decisions in the U.S. and Europe. Gold futures for August settlement jumped 0.1%, to $1,625.60 per ounce during today's New York trading session. At the same time, other precious metals also advanced. September silver rose 0.3 per cent, to $28.13 per ounce, copper with the September contract added 0.4%, to $3.43 per pound, and
Wall Street turned red on Tuesday, as media reports cooled optimism that bold actions will be taken soon in order to boost Eurozone's economy. The Dow Jones Index erased 0.05 per cent to 13,067.18, the Standard & Poor 500 Index declined by 0.04 per cent to 1,384.92, but the Nasdaq Composite advanced 0.12% to 2,949.26.
As reported by the EU's statistics office, the unemployment rate in the Euro-area's 17 countries held at the 11.2 per cent level in June, unchanged from May, the highest level since 1995. The report showed that 17.8 million people are jobless in the Euro-area, with unemployment rate at 24.8 per cent level in Spain, highest among other countries. Meanwhile, the number of unemployed people in
Precious metals apart from gold moved higher on Monday as global easing speculation continued to provide support for the commodity group. However, solid greenback created pressure on precious metal's price. Gold ended the day with slight loss of 0.08% as investors were cautious ahead of two-day FOMC meeting due to start on Tuesday. Silver managed to gain 1.57% on stronger global
German blue chips index rose on Tuesday despite weakness of the other European stock indices. German DAX 30 Index gained 0.43% to trade at 6,806.80 at the time of writing. Bayer added 2.6% after the company upgraded its sales forecast for the current year. Meanwhile, Infineon Technologies soared 7.97% as the Europe second-largest semiconductor producer reduced spending drastically to cope
UK's equities moved lower on Tuesday after disappointing UK consumer confidence data release. However, UK's stocks still receive slight support from speculation that the ECB and the Fed will implement stimulus measures. Financial industry was the weakest in the index, posting a 0.94% decline. Barclays, Royal Bank of Scotland and HSBC tumbled 0.91%, 1.41% and 1.14%, respectively. Meanwhile, BP led