The Federal Reserve Wednesday decreased dollar borrowing costs for European central banks by cutting rate on existing U.S. dollar liquidity swap arrangements by 50 basis points, or 0.5 percent. This action will provide cheaper dollar liquidity for financial companies.
The number of unemployed Japanese surged more than expected in October, adding pressure on the Bank of Japan to introduce additional stimulus to support the country's economy.
Swiss stocks rose modestly on Tuesday, after Italy has successfully placed all of its debt at above 7 per cent during an auction the same day.
House prices in U.K. edged higher for a third consecutive month in November, said the Nationwide Building Society on Tuesday. Average home price rose 0.4 per cent to ВЈ165,798, 1.6 percent higher than a year ago.
U.S. consumer confidence rose the most in more than 8 years in November as consumers became more optimistic on the outlook of the country's economy, the Conference Board Inc. said on Tuesday. An index of sentiment advanced to 56 points in November from 40.9 points in October.
Standards & Poor's credit rating agency may downgrade France's top notch triple A rating within next ten days, a French newspaper La Tribune reported on Monday. "It could happen within a week, perhaps 10 days." S&P officials in Europe rejected to comment on rumors.
Retail sales in the U.K. declined in November for a sixth consecutive month to the lowest reading since March 2009, said the Confederation of British Industry on Monday. The index measuring sales declined to -19 in November from -11 in October. Above 0 indicates higher sales volume, below indicates lower.
Swiss stocks gained on Monday, rebounding after a week of losses amid speculations that European Union's top officials are preparing solutions to tame the sovereign debt crisis.
Japanese stocks rose on Monday after strong Black Friday sales in the U.S. The Nikkei 225 edged higher 1.56%, or 127.48 points, to 8,287.49, while the broader Topix rose 1.29%, or 9.10 points, to 715.70.
Moody's Investors Service said on Monday that deteriorating debt crisis in the euro zone threatens all European government credit ratings and certain countries may soon lose access to market funding.
Sales of new U.S. houses rose 1.3 per cent to an annual rate of 307 thousand in October from 303 thousand in September, while prices decreased 0.5 per cent, according to the data published by the Census Bureau on Monday.
Japan's year on year consumer prices decreased 0.5 per cent in October, for the first time since June, said the Statistics Bureau on Friday. Inflation data shows the country is unlikely to emerge from deflation.
Swiss stocks rose on Friday after six consecutive days of losses amid rumours the European member countries may drop involvement of private investors from their permanent rescue mechanism.
Italian borrowing costs rose to record highs since the creation of the European Monetary Union with investors demanding up to 7.814 per cent for 2-year government bonds during an auction on Friday. The nation managed to raise 10 billion euros, as it was expected.
Standard & Poor's hinted that new Japanese government led by Yoshihiko Noda hasn't made enough progress in reducing public debt, a sign that the company may consider downgrading Japan's credit rating.
Swiss stocks declined for a sixth consecutive day on Thursday after Germany Chancellor Angela Merkel once again opposed to introduction of joint euro-area bonds.
U.K. third quarter economic growth was confirmed at 0.5%, according to the latest figures published by the Office for National Statistics on Thursday. Meanwhile, the Bank of England cut its 2012 growth forecast and noted that more stimulus may be required in future amid "heightened uncertainty" related to Europe's crisis.
U.S. house prices will probably remain unchanged through 2012 and start recovering in 2012, believe economists polled by Reuters. Surveyed experts also consider that additional stimulus will no do much to revive consumer confidence and attract new home buyers.
Fitch ratings agency cut Portugal's credit rating to junk status BB+ from BBB- on Thursday citing "large fiscal imbalances" and "high indebtedness across all sectors". This rating is still one notch higher than Moody's rating of Ba2.
Japanese stocks closed mixed on Tuesday, after U.S. debt committee failed to reach a consensus on budget cuts. The Nikkei 225 decreased 0.40%, or 33.53 points, to 8,314.74, while the broader Topix gained 0.10%, or 0.71 points, to 717.79.
Swiss stocks edged lower for a fifth consecutive day on Wednesday after Germany failed to get bids for 35 percent of the 10-year government bonds and Markit report showed Chinese manufacturing sector may contract in November.
Number of approved mortgages increased to 35.3 thousand in October from 33.5 thousand in September, said the British Bankers' Association on Wednesday.
The number of Americans claiming for unemployment benefits rose to 393 thousand last week from 391 thousand the week before, said the Department of Labor on Wednesday. Economists expected the reading to decline to 389 thousand.
A German sale of the 10 year bonds on Wednesday drew some of the weakest demand since the creation of the European monetary union as the country didn't get bids for 35 percent of the government securities. "This auction is nothing short of a disaster for Germany," Mark Grant, a managing director at Southwest Securities Inc. said.