The Japanese yen gained versus most major peers on worries of U.S. growth slowdown and emerging markets are slowing increased demand for the safe haven currency. Japan's currency advanced 0.5% to 101.11 per Dollar as of 8:17 a.m. in New York, after declining 0.7% on Tuesday. The Yen added 0.4% to 136.87 versus the 18-nation currency, while the Euro traded
The common currency dropped to the lowest level in 10 months versus the Yen since the latest data show that retail sales declined and speculations regarding the European central bank proving more stimulus through monetary easing persist. The Euro was almost unchanged against the Dollar while the Yen appreciated versus most of its major counterparts. The shared currency fell 0.5% to 136.68 against
U.K. services development unexpectedly slowed to the lowest level in seven months in January, as growth of new business is cooling due to wet weather. Today's report showed services growth dropped to 58.3 from 58.8 in December albeit the average forecast was for an advance to 59. The Pound weakened versus the Euro and the Dollar, slid 0.3% to $1.6279 and fell 0.2% to
Retail sales in the Eurozone registered the largest decline in more than two years in the most important for retailers month of December. The Eurostat data showed a 1.6% decrease on a monthly basis, while analysts predicted them to drop only 0.5%. Moreover, the increase in November was revised negatively from 1.4% to 0.9%. Data will put additional pressure on
Activity in the service industry of the United Kingdom expanded further in January of this year, although the growth rate decreased slightly amid extremely rainy weather in the country. Moreover, analysts say that the correction is also possible due to strong growth some time ago. The benchmark PMI Index slipped to 58.3 points versus 58.8 in December, while analysts predicted
Service industry in Italy showed a slight decrease in activity in January of the current year, dropping already for a third consecutive month, while the benchmark PMI Index, which shows the activity level in this particular sector, surged to 49.4 points from 47.9 in December. Therefore, the break-even point of 50 may be reached in upcoming months and the recovery
Japanese labor cash earnings jumped 0.8% in December of the previous year on the annual basis, however inflation level in the country exceeds 1%, indicating that the real wages' growth in negative. In November, salaries advanced 0.6% annually. Therefore, wages in Japan rise for the second month in a row. At the same time, the downward trend persisted during the
Activity in the service industry of Spain rose to the highest level in almost seven years, as the economy is recovering and labor market in this sector improved slightly. Moreover, new orders in the sector grew as well. The benchmark PMI Index, which measures the activity, increased to 54.9 points in January of this year from 54.2 a month ago,
UBS AG announced a significant increase in its quarterly profit for Q4, as earnings rose at the main bank's working divisions, while legal costs declined. The net profit reached 917 million francs versus a 1.9 billion francs loss a year ago. The bank plans to raise dividend by 67% for 2013. Today, UBS AG stocks are picking up 5.8% to
The Russia's Ministry of Finance decided to cancel the state bond auction for the second time in two weeks, as problems on emerging markets and Fed tapering pushed yields up. The government is going to sell $7.8 billion of bonds this quarter. At the same time, the yields for bonds that mature in 2028 inched up to 8.58% on January
New vehicles sales in European countries continued to advance for the sixth month in row, pointing on the continuation of the economic recovery. French car registrations rose 0.5%, in Italy they added 3.2%, but Spanish market expanded 7.6%. By manufacturers, Renault SA sales in France jumped 12.4%, Peugeot SA increased sales by 6%, while Volkswagen AG deliveries slipped 9.1%.
New car sales in the United States plummeted in January, registering the first decrease since September, as cold weather in the country made people to wait for better times to buy a car. Sales were down 3.1% to one million units on the annual basis. General Motors and Ford posted a 12% and 7% drop, respectively, while the third American
Activity in the production sector of the United States surprisingly declined much more than predicted in January of 2014 to its lowest level in eight months. The benchmark PMI Index dropped to 51.3 points versus 56.5 points in December, falling short of economists' forecasts at 56 points. Analysts explain the decline by cold weather in the country, which decreased the
Bank of America Corp, the second largest financial institution in the U.S., announced an increase in salaries for its managers in the European branch by about 20% to $500,000. The reason behind the pay rise lies in coming tougher rules on paying bonuses in the EU, which will start working in 2015. Today, Bank of America Corp. equities are trading
Toyota Motor Corp., the largest car maker in the world, upgraded its profit expectations for the current financial year, which ends in March, as economic recovery in the U.S. and sliding yen exchange rate pushed company's sales up. The profit is now predicted at $23.7 billion. Today, Toyota Motor Corp. shares, however, declined 5.68% to 5,500 yen during the trading
Jobless rate in Spain, which has the second highest percentage of people without work in Europe so far, surprisingly surged in January of the current year, as 113,097 more people became unemployed. This is a 2.41% rise on a monthly basis to 4.81 million. At the same time, the unemployment among young people below 25 years jumped as much as
As a result of the meeting on Tuesday, the Reserve Bank of Australia decided to keep the monetary policy in the country unchanged, as the benchmark interest rate was kept at the record low level of 2.5%. In November 2010, the rate was as high as 4.75%. Moreover, the RBA officials told analysts that there will be no more interest
Activity in the construction sector of the United Kingdom unexpectedly inched up in January of this year, reaching the highest level since August 2007. The benchmark PMI Index, which measures the activity level in this sector of country's economy, increased to 64.6 points against 62.1 points in December. Analysts, in turn, expected the index to decrease to 61.5 points.
German shares were little changed, as the benchmark DAX Index had its worst January in four years, after Chinese manufacturing slowed last month. The DAX added 0.2% to 9,321.48 as of 2:03 p.m. Frankfurt time; however, the equity-benchmark fell 2.6% last month. The HDAX Index advanced 0.2% today.
U.K. shares gained for the first day out of last four as health-care shares advanced and U.S. manufacturing data were awaited by investors. The FTSE 100 Index added 0.4% to 6,533.32 as of 1:08 p.m. London time; however, the equity-benchmark retreated 3.5% last month. The FTSE All-Share Index increased 0.3%, while Ireland's ISEQ Index rose 1.2% today.
Eurozone's currency gained from the lowest level in two months against the U.S. Dollar as region's manufacturing output expanded for a seventh straight month in January. The 18-nation currency added 0.1% to $1.3505 as of 6:57 a.m. in New York, after declining to $1.3477, the lowest level since November 22. The Japanese Yen strengthened 0.2% to 101.89 per greenback.
Manufacturing sector in the United Kingdom posts a considerable jump already during several months, while the benchmark PMI Index decreased slightly in January of the current year, reaching 56.7 points from 57.2 in December. Still, the reading above 50 points indicates an expansion. The data also showed an increase in orders from both abroad and domestic markets.
Gold increased on Monday trading session recording its first monthly jump since August as demand for save-haven assets spurred after equity markets increased offsetting a drop in physical purchases in Asia as the Lunar New Year began. Bullion for February settlement advanced 0.2% to $1,247.21 an ounce and was last seen at $1,246.15 as of 3 p.m. Singapore time.
Natural gas traded in New York declined on Monday falling for the third straight session after a weather report in the U.S. showed that temperatures should ease at the beginning of February easing demand for heating fuel. Natural gas for settlement in March slipped 2.7% to $4.811 a million British thermal units on the NYMEX and was last seen at