Industrial production in Germany jumped in November of the previous year for the time since August, meaning that the largest economy of the Eurozone continues to recover. Output climbed 1.9% on a monthly basis against October's 1.2% decline. At the same time, analysts predicted the growth of 1.5% in November. On the annual basis, manufacturing sector increased its output by
Gold advanced for the first day this week in New York on bets that lower prices will boost metal's physical demand. The yellow metal for February delivery gained 0.3% to $1,228.80 an ounce as of 7:40 a.m. in New York, while bullion for immediate delivery advanced 0.3% to $1,229.84. Gold fell 28% previous year, making it the biggest annual retreat
Janet Yellen, the next Federal Reserve chairwoman, said to the Time magazine on Thursday that the U.S. economy will most likely increase the pace of growth during the current year, while the unemployment level will decline. The economy is predicted to grow about 3%, as the recovery is developing much faster than before. Moreover, the inflation is projected to rise
European shares gained for a third straight day as the European Central Bank held its benchmark interest rate unchanged at its record low. The Stoxx Europe 600 Index rose 0.3% to 330.57 as of 1:38 p.m. London time and the gauge has advanced 1.1% since January 6. The equity-benchmark jumped 17% in year 2013 as world's central banks left their
The European Central Bank left its benchmark interest rate unchanged at its record low at the beginning of year, when the officials are at risk of running into conflict. They kept the benchmark refinancing rate at 0.25%, deposit rate at 0% and its lending rate at 0.75%, data were in line with previous forecasts. The Bank of England also held
U.S. stock-index futures advanced as investors awaited Alcoa Inc.'s financial data to mark the unofficial beginning of year's last quarter earnings season. Standard & Poor's 500 Index futures expiring in March gained 0.3% to 1,837.4 as of 7:34 a.m. New York time, while Dow Jones Industrial Average contracts rose 0.3% to 16,459 today.
Asian shares retreated as China's producer prices prolonged the longest streak of losses since Asia's financial crisis. The MSCI Asia Pacific Index slid 0.7% to 138.88 at 9:53 p.m. Tokyo time; however, the equity-benchmark rose 1% on Wednesday, the biggest climb since November 18. Japan's Topix index slipped 0.7%, while the Hong Kong's Hang Seng Index dropped 0.9%.
U.K. shares climbed for the fourth day out of last five after the Bank of England and the European Central Bank left their stimulus measures unchanged and as an index of oil and gas producers increased to the highest level in seven months. The FTSE 100 Index added 0.2% to 6,734.97 as of 12:47 p.m. London time. The FTSE All-Share
The Australian Dollar dropped for a third consecutive day against the U.S. counterpart on speculation that U.S. payrolls report will encourage the Fed to continue scaling back its stimulus. Australia's currency slipped 0.3% to 88.72 U.S. cents as of 5:18 p.m. Sydney time, while it slid 0.2% to NZ$1.0751. The Aussie declined 0.3% to 93.07 Yen, while the Kiwi retreated
Canada's currency declined below C$1.08 per U.S. Dollar for the first time in approximately three years after the Bank of Canada Governor Poloz stated that there is no pressure to increase interest rates. The Canadian Dollar slipped 0.6% to C$1.0830 per U.S. Dollar, the lowest level since May 2010, ahead of reaching C$1.0820 as of 5:00 p.m. Toronto time.
Eurozone's currency climbed from near the lowest level in five weeks versus the greenback on ideas that the ECB will refrain from adding stimulus amid recovery in the single currency region. The 18-nation currency added 0.2% to $1.3599 as of 12:08 p.m. in London, after falling to $1.3554 on Wednesday, the lowest level since December 5. The Euro climbed 0.3%
The British currency reached its highest level versus the greenback after the Bank of England left its monetary policy unchanged. The Pound traded at $1.6459 as of 12:06 p.m. in London, after advancing to $1.6603 on January 2, the strongest level in two years. U.K.'s currency slid 0.1% to 82.63 pence per Euro after strengthening to 82.42 pence on Wednesday.
West Texas Intermediate crude increased on Thursday rebounding from the lowest level in six weeks after the U.S. currency fell against the Euro before the European Central Bank revealed its decision about interest rate cuts on today's policy meeting. WTI for delivery next month jumped 52 cents and traded at $92.71 on the NYMEX by 9:39 a.m. in London.
The European benchmark Brent crude rose on Thursday after an industry report revealed by the Energy Information Administration showed that inventories in the U.S., the world's largest consumer of the commodity, increased more than projected. Brent for delivery in February gained as much as 0.6% to $107.74 per barrel on the London's ICE Futures Europe exchange.
Government bonds in Spain increased on Thursday with 2- and 5-year yields falling to all-time lows after the country's auction yesterday totalling 3.53 billion euros in five-year securities with the lowest yields ever. Spain's 2-year bond yields declined six basis points to 0.98% as of 10:02 a.m. in London following a drop to 0.969%.
Economic confidence in the euro-area improved by more than economists originally expected in the last month of 2013, a report revealed by the European Commission showed on Thursday. According to the report, the confidence index recorded a level of 100 in December, rising from November's 98.4, while it was projected to grow to 99.1.
European equities swung between gains and losses on Thursday and traded near the highest level in more than five years with investors waiting for a result from the European Central Bank policy meeting showing whether it takes action in order to fight low inflation in the euro-area. The pan-European FTSEEurofirst 300 index held at 1,321.49 as of 8:03 a.m. London
France's trade balance came in deficit last year, however the shortfall was lower than in the previous year, according to the report revealed by the Ministry of Trade showed on Thursday. The country's trade balance recorded a deficit totaling 60 billion euros in 2013 compared to a level of 67 billion euros in 2012.
Inflation in the world's second largest economy measured as consumer price index eased more than economists originally expected in December despite the country's central bank's policy of reducing liquidity of local banks, a report revealed by the National Bureau of Statistics showed on Thursday. China's CPI slowed to 2.5% in December, the least in seven months.
The Euro strengthened on Thursday rising against the U.S. Dollar before a policy meeting of the European Central Bank that may show whether the policymakers take further steps in order to fight falling inflation in the area. The Euro rebounded from the lowest level in a month versus the Greenback and was last 0.24% higher at $1.3609.
The U.S. Dollar declined on Thursday falling against the Euro and the British Pound as investors awaited results of the European Central Bank and the Bank of England policy meetings forecast to maintain interest rates unchanged. The Greenback slipped against the Pound to $1.6469, while it declined 0.3% versus the 18-nation bloc currency to $1.3600.
Private employment in the U.S. in non-farm sector managed to increase its pace of growth to the largest level since 2012 in December of the last year, showing the overall optimist on the labor market. Payrolls surged 238,000 after revised 229,000 in November, while analysts expected them to drop to 200,000. The recovering labor market may lead to faster Fed
U.S. shares retreated, after equities bounced off from three straight day decline, as investors speculated on ADP payrolls that were better than previously expected. U.S. companies increased payrolls by 238,000 last month, according to ADP Research Institute. The Standard & Poor's 500 Index slipped 0.1% to 1,835.36 as of 9:33 a.m. New York time; however, the gauge rallied 30% in
The unemployment in the Eurozone remained unchanged in November of the previous year, as the recovery only starts to gain pace after the longest recession in the currency bloc. The jobless rate stayed at 12.1%, the Eurostat data showed on Wednesday, matching analysts' expectations. The lowest rate of 4.8% remained in Austria, while Greece struggled with the highest 27.4% jobless